11 Best Online Payday Loans of 2022

Personalloans.com is a leading financial network that provides users access to personal loans. It has variable APRs and loan amounts because they work by connecting you to lenders rather than lending to you directly. Personalloans.com’s APR rates range from 5.99% to 35.99% and can be repaid in 3 to 72 months.

What sets Personalloans.com apart from the prior entries on this list is its much higher loan ceiling. Applicants can potentially borrow $35,000 if need be. This makes Personalloans.com a great choice for those who need help with a rather catastrophic financial situation.

>> More: Personalloans.com Review

CashUSA is one of the most well-established lending networks in America. They function by connecting applicants to lenders throughout the country.

The lenders then make loan offers that the applicant can accept or refuse. This means applicants of a wide variety of financial backgrounds can access loans through CashUSA. CashUSA offers loans ranging from $500 to $10,000, with loan terms range from 90 days to 72 months.

While interest rates can be quite high, CashUSA is upfront about this. Their website even features tools that allow applicants to see how loans will impact them in the long term. Moreover, CashUSA uses industry-standard encryption to keep your information and data safe.

>> More: CashUSA Review

Badcreditloans.com is similar to CashUSA in several ways. Like CashUSA, Badcreditloans.com isn’t a direct lender. Instead, they are a network that operates by connecting you to reputable lenders. The benefit of this setup is that Badcreditloans.com does the preliminary examination for you. They are focused on connecting applicants to reputable and fair lenders, meaning you are less likely to run into issues down the line compared to trying to find a lender on your own.

Badcreditloans.com provides loans for $500 to $10,000 with terms ranging from 3 to 60 months. APRs are variable depending on the lender you connect with and your financial background.

>> More: Badcreditloans.com Review

MoneyMutual is one of the most reputable and trusted lending networks on the market. Like the other entries on this list, MoneyMutual doesn’t offer loans to you directly. They work with an extensive network of lenders to provide applicants with loans of up to $5,000.

MoneyMutual is different than the entries on this list in that the variability is incredibly high. The scope of their lending network means that applicants can receive wildly different loan offers depending on who they are connected with.

While this can be great in some instances, it can also be detrimental to your financial well-being if you wind up with a high APR.

>> More: MoneyMutual Review

Payoff Personal Loans is the first company on this list that only offers loans for a specific purpose. Unlike the entries above, Payoff’s loans are solely for debt consolidation purposes.

The company functions by buying your debt from various debtors. Once they’ve done this, they refinance your debt, and you begin paying them.

This means Payoff might not be a fit for all financial emergencies. However, a Payoff loan can help ease the burden of a financial crisis by reducing the amount you pay monthly on existing debt.

One major downside to using Payoff is that they can charge origination fees as high as 5%. In a time of financial crisis, this might not be viable.

>> More: Payoff Personal Loans Review

Avant is another debt consolidation, loan provider. Like Payoff, Avant only offers loans for the purpose of debt consolidation, meaning you can’t directly use the money for a financial emergency. Debt consolidation can be useful in a financial crisis as it can free up money to go towards something else.

You may also choose to use a credit card for a financial emergency, in which case you can then use Avant to lower your interest rate by consolidating. Avant offers loans ranging from $2,000 to $35,000, which can be paid back in 2 to 5 years.

There is a potential origination fee, though Avant states that loans are often offered without a fee.

>> More: Avant Personal Loans Review

Upstart is a company that offers personal loans to those with little credit history or bad credit. Upstart works by foregoing the traditional credit report. Rather, they run their own analysis of applicants, factoring in things like education and earning potential.

This allows applicants to qualify for loans they might not get if forced to use their credit score to apply. Upstart provides funding in as little as 24 hours. Your funds can be used for anything, making Upstart a fantastic choice for those facing a financial crisis.

>> More: Upstart Personal Loans Review

Like Upstart, OneMain Financial offers personal loans to those who might not qualify via traditional methods. OneMain foregoes a credit check in favor of its own evaluation. Doing this means that applicants can qualify for loans through OneMain Financial that they would otherwise not.

There are certain qualifications you’ll need to meet to receive a loan offer. A big factor is the ability to repay a loan. This means that OneMain might still exclude those who have low incomes.

For those who do qualify, OneMain Financial offers loans of $1,500 to $20,000 that can be repaid over 2 to 5 years. APRs at OneMain Financial are quite high. Borrowers can expect to pay anywhere from 18% to 35.99%. Rate like that can make borrowing from OneMain quite costly in the long term. Additionally, OneMain Financial charges origination fees as high as 10% in some cases. All of this makes OneMain one of the costliest options on this list.

>> More: OneMain Financial Personal Loans Review

Upgrade Personal Loans offer loans using a non-traditional evaluation. Upgrade does this in a unique and helpful manner.

Upgrade’s primary focus is on the amount of free cash an applicant has. They aim to provide applicants with loans they can safely afford.

By considering how much money you actually have at the end of the month and offering loans based on that, Upgrade ensures your loan will be within your financial reach. This keeps you from running into issues with repayment down the road.

Upgrade also offers joint or co-signed loans, a feature not common in the personal loan space. Upgrade provides loans ranging from $1,000 to $50,000 that can be repaid over 3 to 5 years. APRs range from 5.44% to 35.47%. Upgrade also charges origination fees falling between 2.9% to 8%.

>> More: Upgrade Personal Loans Review

Rocket Loans is a personal loan provider that emphasizes speed and affordability. With APRs as low as 5.97%, Rocket Loans can be a great choice for those who need an advance on their pay but don’t want to be hit with heavy fines.

Rocket loans is also incredibly fast, with payments arriving in as little as 1 business day. They require a minimum credit score of 640. While not very high, this still might disqualify applicants with very poor credit from qualifying. Additionally, Rocket Loans doesn’t let borrowers choose their payment date, meaning you may run into issues when balancing monthly financial obligations. Lastly, you can expect an origination fee of 1% to 10% when you borrow from Rocket Loans.

>> More: Rocket Loans Review

SoFi is a traditional personal loan provider. SoFi screens applicants using credit scores along with a few other variables to determine eligibility. SoFi offers loans from $5,000 to $100,000 with APRs ranging from 5.99% to 19.63%. These rates are quite low for personal loans.

There are no origination fees for Sofi borrowers, and the flexibility in repayment plans makes it easy to customize your payments to suit your financial situation.

SoFi even offers joint and co-signing loans. This helps applicants who may not qualify on their own access the low APRs on offer with SoFi. Applicants do need to be in decent standing when it comes to credit. This may disqualify those who have poor credit and can’t find a co-signer.

>> More: SoFi Personal Loans Review