Fast Personal Loans: Best Lenders for Quick Cash

Key facts

Pros

• No fees.

• Rate discount for autopay.

• Long repayment terms on home improvement loans.

• Rate Beat program and Experience Guarantee.

Cons

• No option to pre-qualify on its website.

• Requires several years of credit history.

• No direct payment to creditors with debt consolidation loans.

Qualifications

• Minimum credit score: 660.

• Several years of credit history.

• Multiple account types within your credit history, like credit cards, a car loan or other installment loan and a mortgage.

• Strong payment history with few or no delinquencies.

• Investments, retirement savings or other evidence of an ability to save money.

• Enough income to pay existing debts and a new LightStream loan.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: None.

• Late fee: None.

Disclaimer

Rates quoted are with AutoPay. Your loan terms are not guaranteed and may vary based on loan purpose, length of loan, loan amount, credit history and payment method (AutoPay or Invoice). AutoPay discount is only available when selected prior to loan funding. Rates without AutoPay are 0.50% points higher. To obtain a loan, you must complete an application on LightStream.com which may affect your credit score. You may be required to verify income, identity and other stated application information. Payment example: Monthly payments for a $25,000 loan at 4.98% APR with a term of 20 years would result in 240 monthly payments of $164.71. Some additional conditions and limitations apply. Advertised rates and terms are subject to change without notice. Truist Bank is an Equal Housing Lender. © 2022 Truist Financial Corporation. Truist, LightStream, and the LightStream logo are service marks of Truist Financial Corporation. All other trademarks are the property of their respective owners. Lending services provided by Truist Bank.

Key facts

Pros

• No origination or prepayment fees.

• Able to fund loans the same day.

• Rate discount for autopay.

• Offers wide range of loan amounts.

Cons

• No option to pre-qualify.

• No co-sign or secured loan option.

• Does not offer direct payment to creditors with debt consolidation loans.

Qualifications

• Approval is based on payment method, creditworthiness, ability to repay and term.

Available Term Lengths

1 to 5 years

Fees

• Origination fee: None.

• Prepayment fee: None.

• Late fee: Varies.

Key facts

Pros

• Offers a 0.5 percentage point rate discount for setting up autopay.

• No origination or prepayment fees.

• Offers wide range of loan amounts.

• Able to fund loans within one business day.

• Offers mobile app to manage your loan.

Cons

• No option to pre-qualify.

• Available in a limited number of states.

• May require an in-person visit.

Qualifications

• Minimum credit score: 660.

• Maximum debt-to-income ratio: 60% (includes housing).

Available Term Lengths

1 to 5 years

Fees

• Origination fee: None.

• Prepayment fee: None.

• Late fee: $29 after 5-day grace period.

• Unsuccessful payment fee: $25.

Key facts

Pros

• Soft credit check with pre-qualification.

• Option to choose and change your payment date.

• Can fund a loan the business day after approval.

Cons

• No co-signed, joint or secured loan option.

• Rates are high compared to other bad-credit lenders.

• Reports payments to two of the three major credit bureaus.

• Does not offer direct payment to creditors with debt consolidation loans.

Qualifications

• Minimum credit score of 600; average is 673.

• Minimum income of $40,000; average customer earns $80,000.

• Debt-to-income ratio of less than 50%, not including mortgage; average customer's ratio is 13%.

Available Term Lengths

2 to 6 years

Fees

• Origination fee: 0% - 7%.

• Late fee: $30 after 15-day grace period.

Disclaimer

Applications submitted on this website may be funded by one of several lenders, including: FinWise Bank, a Utah-chartered bank, Member FDIC; Coastal Community Bank, Member FDIC; Midland States Bank, Member FDIC; and LendingPoint, a licensed lender in certain states. Loan approval is not guaranteed. Actual loan offers and loan amounts, terms and annual percentage rates ("APR") may vary based upon LendingPoint's proprietary scoring and underwriting system's review of your credit, financial condition, other factors, and supporting documents or information you provide. Origination or other fees from 0% to 7% may apply depending upon your state of residence. Upon final underwriting approval to fund a loan, said funds are often sent via ACH the next non-holiday business day. Loans are offered from $2,000 to $36,500, at rates ranging from 7.99% to 35.99% APR, with terms from 24 to 72 months. Minimum loan amounts apply in Georgia, $3,500; Colorado, $3,001; and Hawaii, $1,500. For a well-qualified customer, a $10,000 loan for a period of 48 months with an APR of 24.34% and origination fee of 7% will have a payment of $327.89 per month. (Actual terms and rate depend on credit history, income, and other factors.) The $15,575.04 total amount due under the loan terms provided as an example in this disclaimer includes the origination fee financed in addition to the loan amount. Customers may have the option to deduct the origination fee from the disbursed loan amount if desired. If the origination fee is added to the financed amount, interest is charged on the full principal amount. The total amount due is the total amount of the loan you will have paid after you have made all payments as scheduled.

Key facts

Pros

• No origination fee.

• Offers direct payment to creditors with debt consolidation loans.

• Offers mobile app to manage loan.

• Able to fund loans within one business day.

• Wide variety of repayment term options.

Cons

• Charges late fee.

• No co-signed, joint or secured loan options.

• No rate discount for autopay.

Qualifications

• Minimum credit score: 720; borrower average is 750.


• Must be a U.S. citizen or permanent resident.

• Must be at least 18 years old.

• Must have a minimum household income of $40,000.

Available Term Lengths

3 to 7 years

Fees

• Origination fee: None.

• Late fee: $39.

Disclaimer

This is not a commitment to lend from Discover Personal Loans. Your approval for a loan is determined once you apply and is based on your application information and credit history. Your APR will be between 5.99%-24.99% based upon creditworthiness at time of application for loan terms of 36-84 months. For example, if you get approved for a $15,000 loan at 10.99% APR for a term of 72 months, you'll pay just $285 per month. Our lowest rates are available to consumers with the best credit. Many factors are used to determine your rate, such as your credit history, application information and the term you select. Not all applications will be approved.

Key facts

Pros

• Option to choose your payment date.

• Offers joint and secured loans.

• Able to fund a loan the same or next business day.

• Offers direct payment to creditors on debt consolidation loans.

Cons

• Rates are high compared to other online lenders.

• Charges origination fee.

• No rate discount for autopay.

Qualifications

• Minimum credit score: None.

• Minimum income: None; average is $45,000.

Available Term Lengths

2 to 5 years

Fees

• Origination fee: $25 to $400 or 1 - 10%.

Disclaimer

Not all applicants will qualify for larger loan amounts or most favorable loan terms. 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). 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. Maximum annual percentage rate (APR) is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. 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 $300. Percentage-based fees vary by state ranging from 1% to 10% of your loan amount subject to certain state limits on the fee amount. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes. Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600. Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: North Carolina: $7,500. New York: $20,000. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

Key facts

Pros

• Offers co-sign, joint and secure loan options.

• Able to fund loans within one business day.

• Offers direct payment to creditors with debt consolidation loans.

• Offers wide range of loan amounts and repayment terms.

• No origination or prepayment fees.

Cons

• Exclusive to credit union members.

• Reports payments to only one of the three major credit bureaus.

• No rate discount for autopay.

Qualifications

• Minimum credit score: 660.

Available Term Lengths

2 to 7 years

Fees

• Origination fee: None.

• Prepayment fee: None.

Key facts

Pros

• Offers joint loan options.

• Offers direct payment to creditors with debt consolidation loans.

• Soft credit check with pre-qualification.

• Option to change the payment date.

Cons

• Borrowers can choose from two repayment term options only.

• Charges an origination fee.

Qualifications

• Minimum credit score: 600.

• Maximum DTI: 60%; 40% for joint applicants.

• Minimum credit history: More than 18 months.

• Minimum number of accounts on credit report: Two revolving accounts.

• Monthly income after paying other debts and living expenses should be enough to cover the new personal loan payments.

Available Term Lengths

3 to 5 years

Fees

• Origination fee: 2% to 6%.

• Late fee: Greater of $15 or 5% of payment after 15-day grace period.

Disclaimer

A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 7.04% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates and fees are valid as of 7/1/21 and are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that we subsequently obtain as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan from us. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.