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Not every personal loan has funding available the same or next business day for quick cash, but some lenders offer this option. The best personal loans for quick access to cash can get you money as soon as the same day.
Best Personal Loans for Quick Funding of 2024 Summary
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Top Personal Loans for Quick Funding Comparison
The best quick personal loan for you will get you funds as soon as the same day, with an easy application process and minimal fees. We chose the top picks for good and bad credit, for limited credit history, short term lengths, and more. You should also look at lenders’ interest rates before deciding on a loan.
Best Quick Funding Personal Loan with Low Interest Rates
LightStream Personal Loan
LightStream personal loans are a solid choice for both relatively low interest rates and same-day funding. This lender topped Personal Finance Insider’s list of best personal loans, and quick funding is yet another bonus.
However, this lender won’t be a good option for anyone with a poor credit score or little credit history. LightStream requires that applicants have a minimum credit score of 660.
For anyone who does qualify for a personal loan with LightStream, this is the most affordable option for fast cash. If your loan is verified and signed before 2:30 p.m. ET, same-day funding is available.
LightStream Personal Loan Review
Best Quick Funding Personal Loan for Fair Credit
Avant Personal Loan
Avant personal loans are the best fast-funding personal loan option for anyone with fair credit. This lender also made Personal Finance Insider’s list of best personal loans. Avant doesn’t have the lowest available starting APRs available, but the typical Avant borrower has a credit score between 600 and 700. This company will consider scores lower than what others will, and can provide funding the next business day if the loan is approved by 4:30 p.m. CT on a weekday.
However, it’s worth noting that this lender charges up to 4.75% in administration fees with an undisclosed late fee and returned payment fee. While it could be an option for anyone needing quick funding with fair credit, borrowers with better credit could find lower rates elsewhere.
Best Quick Funding Personal Loan for Short-Term Loans
Best Egg Personal Loan
Best Egg is a good choice for short loan terms and fast funding. Its minimum loan term is 36 months, while the maximum term is 60 months. Best Egg loans can be repaid at any time without an early payment penalty.
About half of Best Egg’s customers get money the next day after a successful verification process, but it may take one to three business days to see money deposited in your account.
Best Quick Funding Personal Loan for Poor Credit
LendingPoint Personal Loan
LendingPoint is great for borrowers with poor credit, as its minimum credit score requirement is only 580. However, LendingPoint doesn’t offer joint or cosigned loans, meaning you won’t be able to enlist a cosigner to get a lower rate.
The application process is fast with LendingPoint, and the company may approve you for a loan the same day you apply. You often get your funds the next business day after approval.
LendingPoint Personal Loan Review
Best Quick Funding Personal Loan for an Easy Application
Rocket Loans Personal Loan
Rocket Loans is one of the only lenders on our list to offer same-day funding, but it comes with a lot of fees. You’ll pay when your loan is funded, which will be deducted from your overall loan proceeds. Additionally, you’ll pay a $15 fee for any payments not made within 10 days of the due date and a $15 fee for a returned check.
Rocket Loans also has a quick application process, and you can complete it within several minutes.
Best Quick Funding Personal Loan for Limited Credit
Upstart Personal Loan
Upstart is a good option for quick funding if your credit score is between 600 and 660. However, the lender includes other pieces of information in its approval decisions — such as where you went to school and your area of study — making it good for borrowers who may not qualify for a loan solely based on their credit score alone.
Upstart offers only three-year and five-year loans. While the platform has no prepayment penalties, there’s less flexibility in terms than for loans offered by other lenders. Next-business-day funding is available as long as the personal loan is accepted by 5 p.m. ET.
Which Quick Loan Lender Is the Most Trustworthy?
The Better Business Bureau, a non-profit organization focused on consumer protection and trust, evaluates businesses using factors like their responsiveness to consumer complaints, honesty in advertising, and clarity about business practices. Here is each company’s score:
All of our three top picks are rated B+ or higher by the BBB. Keep in mind that a top-notch BBB score does not ensure a positive relationship with a lender. You should keep doing research and talking to others who have used the company to get the most information possible.
Alternatives to Personal Loans for Quick Cash
It’s worth noting that if you have an emergency fund or cash savings, dipping into those resources is a better option than borrowing. If you need to borrow money in an emergency, there are a few other avenues to explore.
Payday Alternative Loans from a Credit Union
Not to be confused with traditional payday loans, payday alternative loans are offered by many different credit unions and work with all types of borrowers. Only available to members, these loans are good for anyone needing a small loan, and who can repay it quickly.
According to the National Credit Union Administration, payday alternative loans typically range from $200 to $1,000 and have terms between one and six months. Check with your credit union to see if this option is available, and what interest rates and borrowing amounts are available.
Loans From Friends or Family
While loans from family or friends aren’t to be taken or made lightly, it could be an option for anyone needing cash quicker than a bank could send it.
If you plan to make or ask for this type of loan, financial planners recommend putting loan terms and repayment plans in writing, and paying interest if possible.
A 0% Interest Credit Card
If you happen to have (or can open) a 0% interest credit card that’s still within the intro APR term, it could be a useful option for spending. However, you’ll need to repay the balance before the 0% term expires. Most cards have between nine and 21 months of interest-free borrowing.
See our full ratings methodology for personal loans »
How Do I Choose the Best Fast Cash Loans for Me?
To find the best fast loan for you, consider the factors that are most important to you. Many borrowers prioritize the speediest funding time, but also take into account the lowest personal loan interest rate, any fees, the minimum credit score needed, and the accessibility of the lender’s customer service. You’ll also want to make sure you’re able to select a term length that works for you and that your loan’s purpose is allowed by the lender you choose.
Guides like this one will help you compare multiple lenders in the same place to weigh their pros and cons. Make sure to also read individual reviews of any lenders you’re considering.
Fast Personal Loan FAQs
In some cases lenders will charge higher interest rates or fees for the convenience of quick cash, so you might save money if you waited longer for your money. However, if you have an excellent credit score, you could very well be offered the same interest rate for quick loans as you would for loans that take a longer time to fund.
A personal loan with a fast funding time will be just as safe as any other personal loan as long as you borrow from a reputable lender. Be cautious of those offering “instant money,” as those loans are often predatory, with extremely high interest rates that are difficult to pay.
It is possible to get a quick personal loan with bad credit, as long as you meet the lender’s minimum credit score and other qualifications. However, if you have bad credit, you will pay a higher interest rate than someone with good credit and may not have as many options for amounts and terms.
While you won’t get your money “instantly,” in some cases you can apply for a personal loan, be approved, and and have access to the cash very quickly. With fully online application and funding processes, some lenders can provide same-day loans if you qualify.
Our Experts’ Advice on Choosing the Best Fast Loans
We consulted personal loan and financial experts to give their insights into finding the best quick cash loans for your needs.
- Markia Brown, certified financial education instructor and registered financial associate at Money Plug, LLC
- Ryan Wangman, former loans reporter at Personal Finance Insider
How do borrowers decide on their repayment terms?
Markia Brown:
“Repayment options are important when considering a lender for a loan because some lenders may charge you a fee if you repay your loan early. When you pay your loan off early, it means you pay the lender less in interest. They charge this prepayment penalty to get some of that money anyway. This fee varies by lender and loan type, so keep this in mind when shopping for a lender.”
Ryan Wangman:
“Repayment terms can be crucial in determining the overall cost of your loan. One of the biggest things to watch out for are origination fees. Origination fees are taken out of the total proceeds of your loan and reduce the overall amount of money you receive.”
What makes the best personal loan?
Markia Brown:
“The best personal loans meet your financial needs without exceeding your budget. They have the lowest interest rate and fees, flexible repayment options, and the money is available quickly.”
Ryan Wangman:
“Especially when it comes to fast funding, the best personal loans will get you your cash quickly without saddling you with an overwhelming amount of fees. You’ll also want a lender that has minimum credit score requirements that fit your financial situation.”
Why You Should Trust Us: How We Chose the Best Fast Personal Loans
At Personal Finance Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of dozens of personal loans so you don’t have to.
We understand that “best” is often subjective, however, so in addition to highlighting the pros of a lender’s personal loan, we outline the cons, too.
We rate all personal loan products in our reviews and guides on a 1-5 scale following our loan-rating methodology. The overall rating is a weighted average that takes into account seven different categories, some of which are judged more heavily than others. They are:
- Interest rate (20% of rating)
- Fees (20% of rating)
- Term lengths and loan amounts (15% of rating)
- Funding speed (15% of rating)
- Borrower accessibility (15% of rating)
- Customer support (7.5% of rating)
- Ethics (7.5% of rating)
Each category’s weighting is based on its importance to your borrowing experience. Rates and fees have the most direct impact on the overall cost of your loan, so we weigh those the most heavily. Customer support and ethics are still very important parts of the borrowing experience, but do not directly tie to a personal loan’s terms, so they have less of an impact on the overall rating.
OneMain Financial Personal Loan disclosure: Not all applicants will be approved. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral) and your state of residence. If approved, not all applicants will qualify for larger loan amounts or most favorable loan terms. Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. APRs are generally higher on loans not secured by a vehicle. Highly-qualified applicants may be offered higher loan amounts and/or lower APRs than those shown above. OneMain charges origination fees where allowed by law. Depending on the state where you open your loan, the origination fee may be either a flat amount or a percentage of your loan amount. Flat fee amounts vary by state, ranging from $25 to $500. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Visit omf.com/loanfees for more information. Loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z such as college, university or vocational expense; for any business or commercial purpose; to purchase cryptocurrency assets, securities, derivatives or other speculative investments; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: $3,100. North Dakota: $2,000. Ohio: $2,000. Virginia: $2,600. Borrowers in these states are subject to these maximum loan sizes: North Carolina: $9,000 for unsecured loans to all customers, $9,000 for secured loans to present customers. Maine: $7,000. Mississippi: $15,000. West Virginia: $14,000. Loans to purchase a motor vehicle or powersports equipment from select Maine, Mississippi, and North Carolina dealerships are not subject to these maximum loan sizes. Example Loan: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07. Time to Fund Loans: Funding within one hour after closing through SpeedFunds must be disbursed to a bank-issued debit card. Disbursement by check or ACH may take up to 1-2 business days after loan closing.
