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Fast Personal Loans: Best Lenders for Immediate Cash

Since emergencies don’t knock at your door before they occur, not many of us are always fully prepared for them before they occur. Consider medical expenses, sudden car breakdown, or natural disaster that affects the home and requires urgent fixing. Finding a lender that offers quick personal loans can be very handy in such situations.

While it may be difficult to find traditional lenders with same-day cash disbursement, many online lenders offer quick personal loans with these privileges.  

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Things to Consider When Choosing a Lender  

In an emergency, one of the first things to consider when applying for a loan from a lender is how fast the lender disburses the payment. Nonetheless, there are other factors to consider, which are also essential.

They include the loan term and rates. When applying for a loan from online lenders, ensure that the loan terms are clearly stated and suit your monthly earnings/ budget.

Also, ensure that you agree with the term rates before proceeding to sign the agreement. Defaulting from personal loans can negatively affect your credit score. Therefore, it is essential to evaluate the odds before settling down for a lender. 

Without further ado, below are the list of best lenders for immediate cash.  

  1. LightStream—best for fastest loans approval and funding 
  2. Wells Fargo—best for sourcing big loans  
  3. LendingPoint—same-day delivery, next day funding
  4. Rocket loan—best for those with a fair credit score 
  5. Discover personal loans—best for fast approval and next day delivery  
  6. OppLoans—best for no credit check and easy application process 
  7. OneMain Financial—Best for fast disbursement of funds 
  8. Upgrade—best for same-day funding  
  9. Figure Personal loan—best for next-day funding 
  10. Avant—best for those with a bad credit record 

1. LightStream—best for fastest loans approval and funding

LightStream claims that it can approve your loan application
and also disburse the approved funds the same day. When it comes to same-day
loans, LightStream is the best for the following reasons: 

Things you Should Know About LightStream Personal Loans

  • Loan approval and funding range from same-day to 2 business days 
  • Low APRs starting as low as 2.49% to 19.99% 
  • Flexible loan terms with payoff period ranging from 2 to 7 years   
  • Zero origination fees  
  • Zero late fees 
  • Large loan amount starting from $,5000 to $100,000 
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Qualification criteria

  • Minimum credit score:660 
  • Many years of good credit history  
  • History of good payment with little or no delays 
  • Different account types within your credit history like mortgages, car loans, credit cards, etc. 
  • Evidence of your ability to save money, which may include retirement savings or other forms of savings 
  • Availability of enough income to settle existing debt and LightStream loan 

Availability Period of Loan Term

The availability length of the loan term is from 2 years to 7 years.

2. Wells Fargo—Best for Sourcing Big Loans

If you’re looking for a lender that is reputable for offering large loan sums within a short period, Wells Fargo is the place to turn to. In addition to the ease of obtaining large loan sums, Wells Fargo does not charge an origination fee.  

Things you Should Know About Wells Fargo Personal Loans

  • Loan approval and funding range from 2 to 4 business days 
  • APRs range from 5.9% to 19.99%  
  • A minimum credit score of 660 is essential when applying for Wells Fargo personal loans 
  • Zero origination fees  
  • Large loan amount starting from $3,000 to $100,000 

Availability Period of Loan Term 

The availability period of the loan term starts from 1 year to 4 years  

3. LendingPoint—Same Day Delivery, Next Day Funding 

According to LendingPoint, applying for a personal loan only takes a few minutes, while a decision over your application can be made within seconds. Once your application is approved, funds can be disbursed the next business day. Normally, the funding time for the LendingPoint loan is within 24 hours. For those with low credit scores, LendingPoint may be the best option. 

Things you Should Know About LendingPoint Personal Loans

  • LendingPoint offers same-day approval of an application. However, funds typically arrive the next day (within 24 hours). 
  • APR may vary from $9.99 to $35.99 
  • A minimum credit score of 580 is essential to be eligible for a loan 
  • A debt-to-income ratio of less than 50% minus mortgage is also essential  
  • Origination fee ranging from 0% to 6% is also a requirement  
  • Accessible amount ranges from $2,000 to $36,500 
  • Late payment attracts a late fee of $30. However, LendingPoint will allow a grace period of 15 days 

Availability Period of Loan Term 

The availability period of the loan term is from 2 to 4 years.   

4. Rocket Loans—Best for Those with Fair Credit Score

For those with fair credit scores, Rocket Loans provides you with a great opportunity to access quick personal loans. According to Rocket Loans, loan approval is usually done within 5 minutes.

Borrowers who complete their application process before 1 p.m. on a business day can have their funds disbursed on the same day. Borrowers that wish to add a co-signer of providing collateral for their application can do so at Rocket loans.  

Things you Should Know About Rocket Loans Personal Loans

  • Loan approval and fund disbursement is usually within the same day to 4 business days
  • APRs range from 7.16% to 29.99%  
  • A minimum credit score of 640 is essential for all loan applicants  
  • The accessible loan amount is usually from $2,000 to $45,000 
  • The origination fee is from 1% to 6% of the loan amount   

Availability Period of Loan Term

Rocket Loans allow a period of 3 years to 5 years for loan repayment  

5. Discover Personal Loans—Best for Fast Approval of Application 

Discover claims that applicant that completes their document and submits them the same day will have their applications approved the same day and funds disbursed the next working day.

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Creditors with debt consolidation loans can access direct payment from Discover Personal Loans. They also offer flexible repayment terms to their clients. Borrowers can also utilize the mobile app for better fund management. 

Things you Should Know About Discover Personal Loans 

  • Same day application of loan and next day disbursement of funds  
  • A minimum credit score of 720 is essential to qualify for s loan  
  • APRs range from 5.99% to 24.99% 
  • Applicant must be a US citizen or a permanent resident to be eligible  
  • Applicant must be at least 18 years at the time of application for a loan
  • A minimum of $40,000 household income is also a criterion to qualify for a personal loan  
  • Zero origination fee 
  • Accessible loan amount ranges from $2,500 to $35,000
  • A late fee of $39  

Availability Period of Loan Term

The availability period of the loan term is usually from 3 to 7 years  

6. OppLoans—Best for No Credit Check and Easy Application Process

OppLoans take a slightly different approach to personal loans, which makes them a lot easier to access than the others. The application process for OppLoans does not require a credit check, which makes it ideal even for those with bad credit scores. However, the loans can come in at a very expensive rate. Notwithstanding, same-day loan disbursement is also possible with OppLoans.  

Things you Should Know About OppLoans

  • Approval of application and disbursement of funds can take 1 to 3 business days 
  • The APRs range from 59% to 160%  
  • No minimum credit score is required to qualify for a loan  
  • The accessible loan amount ranges from $500 to $4,000 
  • OppLoans does not charge an originating fee 

Availability Period of Loan Term 

The loan term is available for up to 18 months   

7. OneMain Financial—Best for Fast Disbursement of Funds

According to OneMain Financial, borrowers who complete and submit their form early enough will be eligible to receive their funds the same day. Applicants at OneMain Financial will have to do so online and visit the
office during the day to receive their loan amount via a check.

However, you can choose to receive funds straight to your account, which can take up to two days to arrive. If your credit score falls below the good, consider OneMain Financial is your starting point when applying for a loan. 

Things you Should Know About OneMain Financial Personal Loans

  • Approval and disbursement of funds is usually within one day by check and may take up to 2 days for cash transfers 
  • APRs range from 18.00% to 35.99%  
  • No minimum credit scores are required to be eligible to apply 
  • Capable of funding direct payment to creditors on debt consolidation loans   
  • Accessible loan amount ranges from $1,500 to $20,000 
  • Origination fees of $25 to $400 (or 1 to 10%) 

Availability Period of Loan Term

2 years minimum, 5 years maximum.  

8. Upgrade – Best for Same Day Funding 

For people with no SSN, Upgrade is the best option when it comes to accessing quick personal loans. The upgrade allows borrowers to apply with their passport instead of an SSN. The application is open to U.S citizens and permanent residents. Application for loans is also open to people on immigration visas. 

Things you Should Know About Upgrade Personal Loans 

  • Approval and funding can take as low as 2 days and as much as 6 business days  
  • APRs ranges from 5.94% to 35.47% 
  • A minimum credit score of 560 is essential to qualify for application  
  • Accessible loan amount starts from $1,000 to $35,000  
  • Borrowers will have to pay an origination fee of 2.9% to 8%  

Availability Period of Loan Term

The loan term is usually from 3 years to 5 years.

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9. Figure Personal Loan—Best for Next Day Funding

Figure personal loans are for people with good credit scores. At Figure Personal Loans, the application process is streamlined to enable customers to complete the process and get approval the same day.

Approved forms usually get paid within two business days. However, it is also possible to receive funds the same day or the next. It all depends on factors like the type and purpose of the funds.  

Things you Should Know About Figure Personal Loans

  • Application approval is typically within 1 day. However, it can take up to two business days for funds to be disbursed  
  • APRs ranges from 5.75% to 22.94%  
  • A minimum credit score of 680 is essential  
  • The accessible loan amount is between $5,000 to $50,000 
  • Set up auto-pay and enjoy a 0.25 percentage point rate discount 
  • The mobile app is available for better management of loan 
  • Debt-to-income percentage of 60 or less (minus housing expenses)  
  • A borrower average of 39%, which includes a figure loan is essential  
  • A minimum of $1,000 in income is essential after the borrower signs the loan agreement 
  • Applicant must be a US citizen with a valid government approved ID card 
  • Applicant must be at least 18 at the time of the application 
  • An origination fee of 0% to 3% is required  

Availability Period of Loan Term

The loan term is usually from 3 to 5 years.  

10. Avant—Best for Those with Bad Credit Record

A bad credit score can be a limitation to your loan application. However, Avant promises to make it easier for those with bad credit scores to be able to access loans. You are only required to earn a credit score of 600 to be eligible for a loan. Avant personal loans also come at reasonable interest rates.  

Things you Should Know About Avant Quick Personal Loans

  • Approval and funding time for Avant loans is usually between 2 to 3 working days  
  • The APR ranges from 9.95% to 35.99% 
  • Applicants require a minimum credit score of 600 to qualify for a loan 
  • Accessible loan amount of $2,000 to $35,000 
  • Avant has an origination fee of up to 4.75% 

Availability Period of Loan Term

The payoff duration for Avant loans spans from 2 years to 5 years. 

What are the Easiest Quick Personal Loans to Access? 

If you are looking for the fastest personal loans to get approved, OppLoans is your best option. The company does not consider your minimum credit score or even credit history to qualify you for a loan.

All that is required to qualify for this loan is a steady flow of income, US citizenship, or a permanent residency and you must be at least 18 years. Your Social Security Number (SSN) is also an essential part of your application process.  

Conclusion

Personal loans have always been the last resort when emergency strikes and you are financially handicapped. However, it is essential to endeavor to pay back your loan as at when due to avoid negative implications on
your credit score.

In most cases, your credit score forms part of the criteria lenders use to evaluate and approve your loan applications. Today, with many online lenders available, it is easy to get your application approved and funds disbursed the same day.

However, it is essential to ensure that you go through the terms and conditions of any company you choose to apply with to ensure they are favorable.

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