Suppose you’re looking for a quick source of emergency cash to cover everything from unpaid medical bills to utility bills. In that case, we highly recommend same day online payday loans and their alternatives. Our recommended lending networks feature a roster of legit direct lenders offering quick cash loans for bad credit that are not payday.
Best payday loans online same day alternatives for bad credit
MoneyMutual – Up to $5,000 – Best Overall
VivaLoans – Up to $15,000 – Best for Same Day Online Payday Loans
MarketLoan – Up to $14,000 – Best for Bad Credit Loans
LifeLoans – Up to $15,000 – Best for Instant Approval
NextDayPersonalLoans – Up to $40,000 – Best for Poor and Fair Credit
Keep reading to learn more about the best payday loans online and same day alternatives for bad credit opportunities, including our preferred five networks, ways to boost your credit score, and helpful tips to quickly turn your financial situation around.
MoneyMutual
MoneyMutual is an online marketplace that connects borrowers with quick emergency cash from hundreds of legit direct lenders specializing in bad credit loans.
Participating direct lenders on the platform are ready to extend anywhere from $200 to $5,000 at sub 35.99% APRs, accessible using an easy-to-use online platform with fast funding as soon as the next business day. Plus, there’s no obligation to accept any loan offer. All the platform allows you to do is receive three or four competitive loan offers matching your credit profile with no obligation to sign up.
On top of that, MoneyMutual is committed to safeguarding your data with 256-bit SSL encryption, HTTP protocol, and membership in the Online Lenders Alliance (OLA), a trade organization that advocates for nationwide loan reforms and lending best practices.
How To Apply: It is effortless to get started with MoneyMutual. Visit the homepage, click on the “Get Started” button, and complete the application. Once submitted, expect instant approval, matching with several competitive loan offers, and funding to your bank account by the next business day.
Eligibility:
- You need to be 18 years of age or older
- Must be a US citizen or permanent resident
- Minimum $800 in monthly income
- Active checking or savings account
- Not a New York or Connecticut resident
- Completed online loan request form
Highlights:
- Loans up to $5,000
- APRs up to 35.99%
- Quick access to funds
- Same day approval and no credit checks
- User-friendly 5-minute application process
Fees:
- No origination or hidden fees
- No prepayment penalties
- Late and insufficient funds fees vary by lender
Pros:
- Instant payday loans up to $5,000
- Fair APRs up to 35.99%
- Funds to your account as early as the next business day
- Hundreds of legit direct lenders
- Excellent source of high risk personal loans, bad credit installment loans, and personal loans for bad credit
Cons:
- Not a direct lender
- Potential for debt cycle if not careful
- Shorter than average repayment terms
- Not available in New York and Connecticut
- Not all lenders will grant your desired loan amount
VivaLoan
If you want money as soon as tomorrow, VivaLoan is one of the best loan matching services out there.
Consider VivaLoan one of the more well-rounded lending networks for instant payday loans we’ve come across. Its expensive network of legit direct lenders offers anywhere from $100 to $15,000 at favorable APRs of up to 35.99%, a much better alternative than traditional payday, auto title, and pawnshop loans designed to break your budget into a million pieces.
Another reason to use VivaLoan for instant payday loans is its OLA compliance, which commits to the highest ethical conduct standards. It’s a welcome change from your local cash advance places or predatory online lenders collecting upfront fees for nothing.
In short, VivaLoan’s high borrowing limits, solid APRs, and flexible repayment terms make it one of the best lending networks.
How To Apply: Taking out a same day online payday loan is easy with VivaLoan. On the VivaLoan homepage, you will find a “Start Here” button. Click on it and get redirected to a two-page form asking for your basic information and all contact, employment, and deposit details. Once submitted, expect multiple competitive loan offers that you can research and compare before making a final decision.
Eligibility:
- You need to be 18 or older with legal US residency
- Recurring monthly income of at least $800
- Valid bank account
- Completed online loan request form
Highlights:
- Loans from $100 to $15,000
- APRs up to 35.99%
- No cost to fill out a form
- 256-bit SSL encryption technology
- Instant matching with competitive loan offers for bad credit borrowers
Fees:
- No origination fees
- No prepayment penalties
- Late and insufficient funds fees depend on the lender
Pros:
- Loans from $100 to $15,000
- APRs up to 35.99%
- All credit types welcome
- Fast and easy online application
- Self-employed, pensioners, gig workers, and part-time workers welcome
Cons:
- For US residents only
- Not a direct lender
- Some lenders are not equally transparent
- Low maximum borrowing limit of $5,000
MarketLoans
If you’re looking for a quick and easy source of emergency cash for any of life’s unexpected expenses, Kansas-based MarketLoans is up to the task.
MarketLoans has a diverse lending network offering $100 to $40,000 with APRs of up to 35.99%, although some exceptions apply. Submitting a loan request form will present several competitive loan offers that you can easily research and compare against one another.
On top of that, MarketLoans provides a very secure method for transmitting information with 256-bit SSL technology to encrypt your data and keep it away from prying hackers. Throughout the website, you’ll also see disclaimers towards the bottom with terms of service, privacy policies, advertisers’ disclosures, and other notices that assure you how your information will be used.
How To Apply: To request a loan using MarketLoans, visit the homepage and click the lime green “Start Now” button. Its loan request form is identical to NextDayPersonalLoans, with a helpful progress bar depicting where you are at every process stage. Once submitted, expect at least four loan offers. Take all of the time you need to research before signing any loan agreement.
Eligibility:
- Be 18 years of age or older with legal residency
- Have a recurring monthly income of at least $800
- Valid bank account for receiving funds
- Not a Connecticut, New Hampshire, Washington, or Vermont resident
Highlights:
- Loan amounts ranging from $100 to $15,000
- Rates go up to 35.99%
- Free to use the loan request form
- 256-bit SSL encryption technology for data privacy
- Instant matching with multiple competitive loan offers
Fees:
- No origination fees
- No prepayment penalties
- Late and insufficient funds fees depend on the lender
Pros:
- Sub 35.99% APR loans from $100 to $40,000
- No credit check and same day approval
- Available in almost all states
- Member of the Online Lenders Alliance (OLA)
Cons:
- Not a direct lender
- Tribal lenders exempt from state usury laws
- Limited borrowing options outside of unsecured loans
- No physical branches or dedicated customer support
- Not available in Connecticut, New Hampshire, Washington, or Vermont
LifeLoans
Do you need a quick $255 for an unpaid doctor’s office visit? What about a larger $10,000 loan for a home renovation? Whatever the reason, LifeLoans is ready with the emergency cash you need.
Unlike traditional payday loans, auto title loans, and pawn shop loans, LifeLoans offers higher borrowing amounts of up to $40,000 at sub 35.99% APRs, creating more manageable monthly payments without breaking the bank. Additionally, it provides a safe and secure online form that takes no more than five minutes to complete. Assuming you meet all eligibility criteria, expect to be matched with several competitive loan offers.
Another reason why we like LifeLoans is its transparency with $255 payday loans online and other types of no credit check loans. Every web page has a disclaimer stating it is not a direct lender, along with a word on cash transfer times, exceptions, and even how your data is used with third-party partners for marketing purposes. By sharing this information upfront, it reassures borrowers that LifeLoans can work for them.
How To Apply: Getting several loan offers from LifeLoans is very easy. Gather all supporting documentation and complete the online application for instant approval, matching with at least three legit direct lenders, followed by funding to your bank account by the next business day once you sign off on a loan agreement.
Eligibility:
- At least 18 years of age
- Must be a US citizen or permanent resident
- $800 in minimum monthly income
- Need a bank account to receive loan proceeds
- Not a Connecticut, New Hampshire, Washington, or Vermont resident
Highlights:
- Loans up to $40,000 at sub 35.99% APRs
- Quick and easy 5-minute online application
- Works with bad credit, poor credit, and fair credit borrowers
- Excellent source of $255 payday loans online
Fees:
- No origination fees
- No prepayment penalties
- Late and insufficient funds fees depend on the lender
Pros:
- Loans up to $40,000
- APRs as high as 35.99%
- 256-bit SSL encryption for data security
- Open to all credit scores
- Excellent source of no credit check loans and bad credit loans
Cons:
- Does not originate or process loans
- Lack of dedicated customer support options
- State usury laws don’t apply to tribal lenders
- Majority of users eligible for amounts only up to $2,500
- Some lenders may require faxing documentation
- Not available to Connecticut, New Hampshire, Washington, or Vermont residents
NextDayPersonalLoans
NextDayPersonalLoans is an excellent place to start looking for quick emergency cash.
Participating direct lenders on the NextDayPersonalLoans network offer anywhere from $100 to $40,000 with non-predatory APRs of up to 35.99% (some exceptions apply), as well as $255 payday loans online. Its 256-bit SSL encrypted form takes less than five minutes to complete, connecting users to a nationwide marketplace of legit direct lenders adhering to fair lending practices.
One of the best things about NextDayPersonalLoans is its transparency. Every web page has a lengthy disclaimer letting users know it is not a lender, states where they don’t operate in, and information on how your data is used.
If you want a fair, non direct lender to compare loan offers, NextDayPersonalLoans is up to the task.
How To Apply: To request a loan from NextDayPersonalLoans in two minutes, visit the homepage, click the bright orange “Start Now” or Get Started” buttons, and complete the application. As long as you meet all eligibility criteria, expect same day approval and funding to your account by the next business day (assuming the form is submitted M-Thurs)
Eligibility:
- 18 years of age or older
- US citizen or permanent resident
- Minimum $800 in monthly income
- Valid bank account for funds disbursement
- Not a resident of Connecticut, New Hampshire, Washington, or Vermont
Highlights:
- One of the best online payday loans providers
- 256-bit SSL encryption and secure 100% online form
- Excellent source of $255 payday loans online and instant payday loans online
Fees:
- No origination fees
- No prepayment penalties
- Late and insufficient funds fees depend on the lender
Pros:
- Borrow up to $40,000
- APRs in the 31% of 35.99% range
- Same day approval and next business day funding
Cons:
- Does not originate, process, or distribute loans
- Higher interest rates than banks and credit unions
- Easy to unsubscribe from third-party Communications
- Lacking customer support (no dedicated email or phone number)
- Not licensed in Connecticut, New Hampshire, Washington, and Vermont
What are payday loans online same day?
Same day payday loans online are a type of short-term unsecured loan that can be accessed through direct or indirect lenders like MoneyMutual and 100Lenders. Traditionally, they have been shorter-term loans of two to four weeks, repaid on the borrower’s next payday, with funds distributed via cash or to a borrower’s bank account within 24 hours.
This type of loan can be used for smaller expenses like unexpected medical bills, utility bills, or anything requiring immediate attention.
Two hallmarks of same day online payday loans are higher-than-average interest rates and shorter repayment terms. Unlike traditional loans from banks and credit unions that provide loans in the 8% to 15% APR range, same day online payday loans generally go up to 35.99% APRs with repayment terms anywhere from a few weeks upwards of 60 months.
However, these longer repayment terms reclassify the loan as high risk personal loans or personal loans for bad credit.
Continue reading to learn more about this type of loan, how they work, and pros/cons, along with potentially cheaper alternatives with 0% interest paycheck advance apps, Buy Now, Pay Later services, and payday alternative loans from credit unions.
Are there payday loans online same day for bad credit?
Yes. Same day online payday loans are specifically targeted toward folks with credit scores in the 300 to 580 range, with the worst scores falling between 300 and 499.
One of the reasons these types of loans exist is that repayment ability is not based on a minimum required credit score but on income, debt-to-income, and one’s employment situation.
These loans are easier to obtain, so expect higher interest rates and fees. That’s why we recommend that you compare multiple loan offers and carefully review all terms and conditions before committing to any bad credit direct lender.
What Payday Loans Should and Shouldn’t Be Used For
Good for:
- Emergency medical expenses
- Immediate vehicle repairs
- Electric or water bills
- Home repairs
- Emergency travel
- Past due rent or mortgage
Not good for:
- Non-essential purchases like timeshares
- Repaying existing same day payday loans online
- Investments or risky ventures
Pros and cons of same day payday loans for bad credit
In times of financial hardship, same day payday loans online could provide a life raft with quick and easy emergency cash. However, they do have pros and cons, which we’ll explore further below:
Pros
Attainability. One of the biggest advantages of same day online payday loans is loose eligibility criteria, needing no more than proof of age (18 or older) with a minimum of $800 or $1,000 a month in earnings. Even full-time workers like self-employed freelance writers, Uber drivers, pensioners, and government benefit-collecting beneficiaries are welcome.
Same Day Approval. Online marketplaces like VivaLoan and MarketLoan offer instant approval with funds deposited into a valid checking or savings account within 24 hours (assuming loan request form submission and approval Monday through Thursday).
No Credit Check. Do you need a 710 credit score to qualify? No way, Jose! Unlike traditional loans, most online payday lenders perform no credit check, assessing eligibility based on your income and ability to repay the loan through employment or fixed receipt of benefits (e.g., pensions or Social Security payments).
Cons
APRs up to 35.99%. One of the drawbacks of same day, no credit check payday loans is higher than average interest rates of up to 35.99%. However, they are far from your local cash advance place with 400% APRs. On a $20,000 loan with a three-year repayment term, this easily equates to thousands of dollars in interest over the life of a loan.
Risk of Debt Cycle. Suppose your debt-to-income ratio is above 40%, and you take out a larger, no credit check $5,000 loan at a two-year repayment term. In that case, you may face pressure to repay the total amount before the due date, incurring additional interest and fees with the ever-looming threat of a debt cycle and an out-of-control DTI.
Lower Borrowing Limits. Sometimes, online payday lenders will not offer your desired loan amount. A $15,000 request may yield three or four loan offers of at most $1,000, not enough to address larger unexpected expenses.
By carefully assessing the pros and cons of same day online payday loans, you’ll be better equipped to make the right loan decision.
What payday loans same day are no credit check and what do credit check
Almost all same day payday loans offer no credit check. One of the best things about these types of loans is that no minimum credit score is required. Instead, eligibility is based on your ability to repay, demonstrated via income, debt-to-income ratio, and your employment record.
That’s why all of our recommended lending networks require that you earn a minimum monthly income of $800 or $1,000. Don’t be taken aback by this requirement, as even pensioners, self-employed, gig workers, and part-time workers are welcome. Remember, you do not need to earn paychecks via direct deposit to take advantage of these loans.
How to find legitimate payday loans online same day when with bad credit
With a bit of legwork, you will find it very easy to find legit payday loans online same day:
Follow all of the steps below:
Scout Your Lending Networks. The first step is to review our guide and identify one or two lending networks to submit loan requests. Start by knowing your desired loan amount. For anything less than $5,000, any of the five will do. If you’re looking to borrow more than $5,000 up to $15,000, then ZippyLoan/VivaLoan are your best options—anything about that, and you’ll have to refer to NextDayPersonalLoan, MarketLoan, and 100Lenders.
Submit to a Minimum of Two Lending Networks. From there, we recommend submitting loan request forms to a minimum of two lending networks so that you get access to a broader pool of legit direct lenders, increasing your chances of getting the correct rates and terms.
Narrow Down. Once you have all of your loan offers on the table, be sure to research each one, typing in the name of the direct lender onto Google and checking for healthy negative to positive feedback ratios, third-party reviews, Better Business Bureau comments, and other reviews so that you can make an informed decision.
Remember to visit each direct lender’s website to grasp all terms and conditions thoroughly.
Why we recommend these five lending networks
We compile this research guide to inform borrowers on how to find the right loan options for their needs. After reviewing more than 30 different lending networks, we narrowed our selection to four based on four criteria: interest rates/fees, safety/security measures, disclaimers, and loan variety.
Interest Rates/Fees. We only reviewed lending networks where most direct lenders offer loans with sub 35.99% APRs. This threshold ensures a lower total interest cost, reduced debt burden, and more financial flexibility versus traditional payday, auto title, and pawnshop loans that charge upwards of 400% APRs for the same loan amount and repayment terms.
Likewise for various fees. We firmly reject origination and prepayment penalties, which primarily serve administrative/overhead costs and allow lenders to recover losses due to not collecting enough interest charges.
Safety/Security Measures. We only advocate for lending networks that have robust security measures in place. These security measures include 256-bit SSL encryption, HTTP protocol, secure user authentication, and even firewall protections that help prevent unauthorized access to servers by hackers looking to steal personal information.
Disclaimers. Every legit lending network should have a clear and comprehensive privacy policy. This lets users know how their data is collected, used, and shared. In the case of lending networks, your information may be shown to third parties offering various financial products and services.
Remember representative loan examples, states of operation, and mention of being a non direct lender that does not originate, process, or manage repayment with every loan.
Loan Variety. All of our recommended lending networks go way beyond same day online payday loans. Although mainly a source of short-term and secured loans, you can also find high-risk personal loans, instant online cash advances, and personal loans for bad credit.
By ensuring that your lending network has fair interest rates/fees with the appropriate security protocols and disclaimers in place, rest assured that you will find a fair and competitive loan offer for your financial situation.
Frequently asked questions
What are the eligibility requirements for same day online payday loans?
All eligibility requirements vary depending on the lender. However, the common denominator is that you must be at least 18 years old with a recurring income, legal residency in the country (US citizen or permanent resident), and a valid bank account for your funds to be sent to. Do not listen to any lenders that promise “guaranteed approval.” There’s no such thing.
What are the potential risks for these types of loans?
As with all loans, there are potential risks that you should be aware of. For starters, same day online payday loans have a higher cost of borrowing with APRs of up to 35.99% and shorter repayment terms. With borrowing in the $5,000 to $15,000 range and short repayment terms, expect downward pressure on your finances, especially if you have a debt-to-income ratio of over 40%.
Are our online cash advances available in all states?
Availability with payday loans online same day depends on the lending network. Not all of the networks operate in all 50 states. For example, MoneyMutual is not licensed to operate in New York and Connecticut, and ZippyLoan is not accessible in New York, West Virginia, Oregon, and the District of Columbia. Be sure to check each website’s disclaimers for states where available.
Conclusion
In short, the best payday loans online same day for bad credit offer emergency cash for cash-strapped borrowers without putting them in a vicious cycle of debt like traditional payday loans, auto title loans, and pawnshop loans. Avoid typing in ” I need money now” or a similar version to Google, and rely on one of our five recommended lending networks to offer you the best financing opportunity to move forward.
DISCLAIMER – “Views Expressed Disclaimer: Views and opinions expressed are those of the authors and do not reflect the official position of any other author, agency, organization, employer or company, including NEO CYMED PUBLISHING LIMITED, which is the publishing company performing under the name Cyprus-Mail…more
