Jonah JacobsYou have several bills that must be paid before your credit gets ruined, or your services get shut off. You have no savings, and your friends and family said they couldn’t help. What can you do for quick cash? You could apply for a low-interest credit card, but that’s not an option if your credit is already low.
You could ask your employer for some help, but they may not be willing to give you an advance. Another option is to call your creditors and ask for a payment plan, but what if they’re unwilling to budge? That leaves you with getting a personal loan, and we’ll discuss where you can get one without worrying about the exorbitant costs of payday loans.
Payday Loan Alternatives
Before we jump into this list, it should be noted that you will have to shop around to find the best rate and terms for your loan. As you do so, you may find that some of these options are close to payday loans with their interest rates and terms, which may not make them a good fit for your situation.
Possible Finance
Are you worried that your credit history will keep you from getting a loan? Then apply for a personal loan from Possible Finance, as the lender does not use credit as a factor for loan eligibility.
Possible Finance offers up to $500 loans even for applicants with bad credit. You can even get the cash within minutes to fix your financial emergency quickly. As you pay back the loan on time, you can build your credit, as Possible Finance reports payments to the three credit bureaus.
To qualify for a Possible Finance personal loan, you will need a valid ID. You will also have to meet certain income and checking account requirements.
CashNetUSA
Possible Finance isn’t the only lender that offers same-day funding, as so does CashNetUSA. Apply online, and you can get your approval decision in minutes. And if it’s before 1 pm Central Time on a weekday, you could get the funds almost instantly.
While the quick funding from CashNetUSA is a plus, their loans max out at $500. You will also have to repay the loan on your next payday, so look elsewhere if such terms aren’t ideal.
OppLoans
OppLoans offers personal loans between $500 and $4,000, and they’re a great lender if you have bad credit and can’t get cash from other institutions. Next-day funding is available with no credit check in some cases. Pay back your loan on time, and you can build your credit as a bonus.
OneMain Financial
Same-day funding with loans between $1,500 and $20,000 is what makes OneMain Financial an attractive payday loan alternative. The lender lets you change your due date, and there are no prepayment penalties.
Upstart
If you lack credit history, try Upstart. They factor in your education, work experience, etc., when offering loans, so even if you have non-existent credit, you could get quick cash. Upstart personal loans sit in the $1,000 to $50,000 range and build credit as you pay them back on time.
