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When life happens, you don’t always have weeks to faff about getting a loan. Sometimes, you need a quick loan to spot your short-term needs. Most of the fastest loans – including the ones on our list – are funded through online institutions, which makes applying a breeze.
The key to getting a good quick loan is to find a reputable lender with fair rates, reasonable terms, and fast funding. For the most part, we’ve done the work for you – all that’s left is finding which one suits your needs.
Upgrade offers loans ranging from $1,000 to $50,000 for borrowers across the credit spectrum. They can approve loans within one business day (though some applications take longer to process) and usually fund loans within 24 hours of approval. The lender also offers credit-building features and rate discounts up to 20% off for some customers.
>> More: Upgrade Personal Loans Review
Upstart stands out for using AI to help determine eligibility, allowing fair and no credit borrowers to qualify for loans. The lender can fund up to $50,000 within one business day of approval; you can also use their prequalification option to see if you’re eligible before applying. While they don’t charge pesky prepayment penalties, they do limit loan terms to 3 or 5 years.
>> More: Upstart Personal Loans Review
Avant is an online lender that works with borrowers who have fair or poor credit, though you may pay higher interest rates. You can prequalify online instantly for loans as big as $35,000. That said, the lender does have several restrictions, including no co-signers or co-borrowers, and you can’t use the funds for business expenses.
>> More: Avant Personal Loans Review
Best Egg is an online lender that provides quick loans up to $50,000 ($35,000 for a single loan). While the lender can provide funding as soon as the next-day, most borrowers see funds in 1-3 days. Make no mistake, this is still fast. However, this lender’s best interest rates only go to those with higher incomes and credit scores.
>> More: Best Egg Personal Loans Review
FreedomPlus is an indirect lender that offers personal loans underwritten by MetaBank or Cross River Bank. They offer funding within 3 days of approval, though you’ll need to take a quick phone call during the application. And with a minimum loan amount of $7,500 and a maximum allowance of 35% of your annual income, you have to make at least $21,500 per year to qualify.
>> More: FreedomPlus Loans Review
LendingPoint is known for quick loans, as borrowers can qualify for $2,000 to $36,500 in funding within the hour and receive funds by the next day. Borrowers can enjoy payment flexibility and generous qualification requirements, though fees can run high. While bad credit borrowers can qualify for loans, you may pay a higher interest rate for the privilege.
>> More: LendingPoint Personal Loans Review
LightStream offers loans with competitive interest rates for borrowers who can meet its stringent qualification requirements. This online division of Truist (formerly SunTrust Bank) offers same-day approval with the possibility of same-day funding. Borrowers can apply for funding between $5,000 and $100,000 with repayment terms ranging from 2-7 years.
>> More: LightStream Personal Loans Review
Rocket Loans, the online finance company renowned for its mortgage products, also provides personal loans up to $45,000 for qualified borrowers. They boast online approval in just minutes with the potential for same-day funding. However, this lender requires at least 2 years of credit history, and average APRs may trend higher than some competitors.
>> More: Rocket Loans Review