Best Quick Loans: Get Same Day Funding Fast

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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.

Best Quick Personal Loans

  • RECOMMENDED
  • LOAN AMOUNT
  • MIN. CREDIT SCORE

Top Quick Loans: Rates, Fees, & Terms

Best Overall Quick Loan
Quick Loans from Upgrade
APPLY NOW
On Upgrade's Secure Website
Upgrade
  • Est. APR
    5.49% - 35.97%
  • Min. Credit Score
    560
  • Learn More
  • Loan Details

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

Best Quick Loans with Flexible Requirements
Upstart Quick Loans
APPLY NOW
On Upstart's Secure Website
Upstart
  • Est. APR
    3.50% - 35.99%
  • Min. Credit Score
    580
  • Learn More
  • Loan Details

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

Best Bad Credit Quick Loans
Avant Fast Loans
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On Avant's Secure Website
Avant
  • Est. APR
    9.95% - 35.99%
  • Min. Credit Score
    580
  • Learn More
  • Loan Details

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 Quick Loan for Less-than-Perfect Credit
Best Egg Quick Loans Rate
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On Best Egg's Secure Website
Best Egg
  • Est. APR
    4.99% - 35.99%
  • Min. Credit Score
    640
  • Learn More
  • Loan Details

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

Best Loans for Quick Funding
FreedomPlus Same-Day Funding Loans
APPLY NOW
On FreedomPlus's Secure Website
FreedomPlus
  • Est. APR
    7.99% - 29.99%
  • Min. Credit Score
    620
  • Learn More
  • Loan Details

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

Best Quick Loan for Same-Day Funding
LendingPoint Same-Day FUnding Loans
APPLY NOW
On LendingPoint's Secure Website
LendingPoint
  • Est. APR
    9.99% - 35.99%
  • Min. Credit Score
    580
  • Learn More
  • Loan Details

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

Best Quick Loans for Fast Approval
LightStream Quick Personal LOans
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On LightStream's Secure Website
LightStream
  • Est. APR
    2.49% - 20.49%
  • Min. Credit Score
    660
  • Learn More
  • Loan Details

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

Best Loans for Fast Funding Times
Rocket Quick Loans
APPLY NOW
On Rocket Loans's Secure Website
Rocket Loans
  • Est. APR
    5.97% - 29.99%
  • Min. Credit Score
    640
  • Learn More
  • Loan Details

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

What Is a Quick Loan?

A quick loan is what it sounds like: a loan that’s issued quickly. Typically, quick loan lenders have less stringent screening processes, making them easier to obtain for individuals with bad credit. However, some same-day lenders charge higher interest rates or fees for the privilege.

How Do Fast Personal Loans Work?

A fast personal loan is just a regular loan that offers quicker funding. Typically, they’re offered by online lenders who can accept and process digital applications and make quick decisions.

As with a regular personal loan, you usually need to provide identifying documents, proof of income or employment, and contact information. Though, as many quick personal lenders double as emergency loan lenders, their credit requirements may be less stringent.

Once approved, you may receive funds as soon as same day. However, most quick loan lenders guarantee funds in 2-3 days.

How Can I Get a Personal Loan Really Fast?

The best way to get a fast personal loan is to hop online and find lenders that offer same or next-day funding. But don’t just go with the first lender that catches your eye! If you want to avoid costly fees and high APRs, you’ll want to shop around for affordable options.

Types of Quick Loans

#1. Traditional Quick Personal Loans

Personal loans are unsecured loans that don’t require collateral to qualify. While many personal loans take up to a week to receive, some lenders specialize in same-day or next-day funding. Most come with repayment terms ranging from 1-7 years and a maximum of $100,000 in funding. (Though borrowing amounts may vary by state.)

Typically, you’ll need a credit score of at least 580-620 to qualify, though higher scores can nab better rates. You may also need to meet minimum income or employment requirements and have a debt-to-income ratio under 50%.

>> More: See the Best Personal Loans

#2. Payday Loans

Most payday lenders fund sums under $1,000 that you repay out of your next paycheck. As many payday loans don’t require a credit check, they tend to target bad credit borrowers who can’t get approved elsewhere. However, they charge enormous fees that amount to 300-600% APR, which many borrowers can’t afford. (In other words, stay away.)

#3. Pawn Shop Loans

Pawn shops let you get cash for the junk laying around your house in a hurry. You won’t get the item’s full value – often under 50% – but it may be enough to last until your next payday. If you don’t want the item back, the pawn shop will keep it, and you can keep the money. If you do want it back, you’ll have to repay your loan plus a little interest, typically under 25%.

>> More: How to Apply for a Personal Loan

Tips for Getting a Quick Loan

#1. Avoid Payday Loans

While payday lenders offer fast funding to just about anybody, their open-door policy is what makes them so expensive. Avoid their high APRs, predatory lending practices, and exorbitant fees at all costs. (In the same vein, don’t spring for title loans, which are essentially payday loans that also require you to sign over the title of your car.)

#2. Read the Terms

If you’re in a hurry, you might be tempted to sign the first dotted line that comes your way. But failing to read the terms first may trap you in a loan you can’t afford. Before you sign, check out the fine print for your APR, loan size, fees, repayment obligations, and any other tidbits the lender discloses.

#3. Make Sure You Can Afford the Quick Loan

One mistake some borrowers make is not questioning whether they can actually afford their loans. Just because the lender says you qualify for X amount doesn’t mean your budget can handle repaying X amount. It just means that you’ve passed their minimum bar to qualify.

Before you take on any loan, always double-check that your budget has the wiggle room to make the monthly payments. If that means giving up your Netflix for a few months, that’s one thing. But if taking out a loan means you can’t put food on the table, you probably can’t afford it.

#4. Ask to Borrow Money from a Friend or Family Member

If you’re in an emergency, you might consider asking to borrow the money from a friend or family member instead of taking out a loan. Just don’t forget to pay it back – with a little interest for good measure. It doesn’t hurt to set up an official contract, either.

Summary: Best Quick Loans

Bottom Line: Best Quick Loans

The best quick loans are those that offer reasonable interest rates, repayment terms that fit your budget, and fast funding. And if you need cash now, these loans can provide the funding needed to cover surprise medical bills, last-minute educational costs, or other emergencies. But the best way to ensure you can access cash when you need it now is to build up your emergency fund.

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Methodology

To select the best quick loans, we reviewed 25+ lenders that offer quick personal loans. Our evaluation included reviewing the lenders online experience, eligibility requirements, customer support, and funding times. Read our editorial guidelines and rating methodologies for quick loans to learn more about the integrity, transparency, and honesty of our reviews.

Jordan Blansit
Jordan Blansit

Jordan Blansit is a Senior Writer, Researcher, & Product Analyst for SimpleMoneyLyfe with an inexplicable predilection for mortgages, investing, and personal finance. When she’s not click-clacketing from the comfort of her living room, you can find her in the California Redwoods or Oregon Siskiyous. Jordan’s areas of expertise are mortgages, personal loans, credit cards, and investing.