An instant payday loan is one of the many easy loan options available to you when you are looking to finance your short-term needs. However, with more and more new companies entering the market, it can be more than a little difficult to gauge which one you should opt for.
That’s why we’ve compiled this list of online direct lenders who are willing to provide you with payday loans at competitive interest rates.
We’ve conducted all the research required to zero down on only the best direct lenders making short-term funds available to customers in need. Not only are these sites very easy to use, but they’re also highly reliable and known to keep all sensitive information related to their clients safe and secure.
After we review each website in detail, we’ll take you through some of the main factors you’ll need to look out for when choosing a payday loan to satisfy your needs. Let’s begin.
Top 3 Best Guaranteed Payday Loan Providers [Full Reviews]
A payday loan may be a very popular form of financing, but there aren’t many online loan providers that make such loans available to borrowers at reasonable rates.
The sites we’ve chosen for you below are the best we could find that focus on helping borrowers solve their financial issues through payday loans. With these sites, approval is guaranteed, even if you don’t have great credit ratings.
We’ve listed out the features, pros, and cons of each site below so you can consider all these factors before you make a choice. After all, your choice of loan provider dictates the finance costs you’ll be paying on your loan and whether or not these are worth it.
Therefore, make sure you go through each review with a fine-tooth comb to make an informed decision regarding which payday loan platform you should opt for.
#1. Bad Credit Loans
This company is known to provide easy loan financing to those borrowers who are aged 18 and above. However, Bad Credit Loans are not a lender; instead, this platform works as an intermediary between borrowers and direct lenders to help them connect and establish terms of a loan.
These terms generally include interest rates and a specified repayment period. In some cases, lenders may even require additional eligibility criteria that borrowers may need to meet before they have their loan requests approved.
A definitive benefit of using this website is that the borrower is under no fixed obligation to accept every loan offer that comes their way. In other words, you have the freedom to compare different interest rates from different lenders before you decide on which one you would like to go with. This plays a significant role in helping you figure out how much you’ll end up paying in interest fees by the end of your loan term.
Alternatively, if no lender makes you a loan offer on the site, Bad Credit Loans will then display ads for other lenders who might be more willing to accommodate your request. These ads include not only those for a payday loan but also those for other debt relief services such as credit repair, etc. Therefore, by using this site, you’ll find yourself exposed to more than one avenue to have your short-term financing needs taken care of.
One of the more unique and interesting features of this company is that it even offers borrowers the option of connecting with Tribal lenders. Sure, Tribal lenders may quote higher fees and interest rates than most other lenders, but it’s nice to have an additional option of loan provider here. This only goes to show how large and inclusive the Bad Credit Loans’ network is.
- Quick application process
- Application only requires basic information
- May receive same-day approval
- Available to those 18+
- Open to bad credit users
- May not be helpful for unemployed users
Those looking to have their payday loans approved right away seem to be happy with how convenient it is to connect with lenders through Bad Credit Loans.
Moreover, the fact that most loans requested through the site are approved within the same day is quite popular among borrowers. Since the network of lenders registered on the site is quite large, borrowers are also pleased with the variety of options offered.
MoneyMutual is one of few lending platforms run by individuals who wish to make loan financing accessible to all. Even though the site itself is in no way involved with the process of lending, it essentially provides a platform for customers to get in touch with lenders who could finance their immediate needs. Based in Las Vegas, Nevada, this company now boasts the fact that it has catered to millions of borrowers over the years.
This online lending giant has been in operation since 2010 and is known to have only improved its services since then. One area in which MoneyMutual has truly excelled is in its commitment to protecting its user’s financial information. All a borrower needs to do to receive funds using this site is fill in an online application form.
This is certainly a lot more convenient than having to visit a lending institution and complete complicated application procedures. This luxury of this convenience is not lost on customers, which is why they have been loyal to the brand over the years. The online marketplace established by MoneyMutual to help lenders and borrowers meet and decide on loan terms etc. is easily one of the best in the industry.
Besides, it’s not just payday loans that are available on MoneyMutual; other loans such as loans for car repairs, medical bills, and more are also provided by lenders through the site. Regardless of what type of loan you opt for, you can receive a maximum of $5,000 to help you get back on your feet. This is especially useful if you’re dealing with some unexpected or emergency expenses.
The application form on the site should not take more than five minutes to complete, considering it will only ask you for basic details. Again, you don’t have to worry about any sensitive information being leaked on the site, as it has been certified as secure by more than one trusted authority.
Another impressive feature of this company is that it continually takes consumer complaints and suggestions into account to help boost the quality of its services. The customer service executives working with the company are highly skilled at providing informative answers to your queries and resolving any complaints with ease. Moreover, getting in touch with the company is very easy as you can reach them through call, e-mail, or mail.
- Simple and convenient application process
- Works with broader eligibility criteria
- Highly competitive interest rates
- Highest quality customer support
- Safe and secure
- Loan limited to $5,000 or less
What every customer wants from a good online lender is what they often find with MoneyMutual. Most borrowers’ foremost concern with such sites is whether or not their financial information will remain safe on it.
Therefore, it’s easy to see why MoneyMutual has such glowing reviews online – borrowers find that they can trust how secure it is.
Moreover, the fact that this company has excellent customer support services has worked in its favor over the years as user reviews constantly praise how effective its agents are.
#3. Cash USA
No list of online loan providers is complete without Cash USA. This company has been able to survive tough competition from online lenders over the years since its inception. Nearly all kinds of personal loans are available on this highly reputed website, which is why customers with financial troubles seek it out in the first place.
Even though the qualification criteria laid down by most lenders on the site are very simple to follow, the company itself has few prerequisites. For example, only those borrowers who are aged 18 and above and are either U.S. citizens or permanent residents can qualify for loans. Also, applicants must prove that they have a monthly income of at least $1,000.
As this eligibility criterion isn’t too difficult to meet for most of those who look to the site for loan finance, we’d say obtaining an online payday loan from Cash USA is quite a convenient affair. If you meet the aforementioned conditions, you’ll need to fill in a form with your basic details such as your contact number, e-mail address, and more.
However, note here that just because you meet these requirements and provide these details does not mean that a lender will approve your loan request. Before granting approval, lenders first wish to review all your information and decide whether they can trust you to repay the loan. Therefore, you may have to wait for a few hours before you gain approval and receive the money you need.
After a lender approves your loan request and provides you with an offer, it’s your turn to sit back and review their terms. If the interest rate and repayment terms seem reasonable enough to you, you can go ahead and let the lender know you’re interested. Once you’re both agreed on the terms, you can complete all the additional formalities necessary and likely receive the loan amount you asked for within a day or two.
The biggest reason many people use Cash USA is that it’s one of the leading payday loans providers. As mentioned above, one of the eligibility requirements associated with the approval process is having a minimum monthly income. So, when lenders know that you do indeed have a steady source of income, they are more likely to approve your payday loan application.
Cash USA will not determine the APR (Annual Percentage Rate) for the loan amount you want to borrow. Instead, the lenders you get in touch with will provide this information. Additional charges and terms related to the loan will be communicated directly by the lenders as well. However, Cash USA states that most APR rates offered fall between 5.99% and 35.9%.
Therefore, you should ideally take your time and evaluate your options carefully before deciding which lender you want to opt for on this site. Remember, if interest charges are significant, they’ll end up eating into your monthly income in a big way and cause a further strain on your finances.
- Easy process
- Users can interact with lenders directly
- Straightforward and simple eligibility criteria
- Offers different types of personal loans
- Loan amounts up to $10,000
- Borrowers with poor credit ratings may pay higher APRs
Since borrowers find it easy to meet the eligibility requirements for Cash USA, this site is very popular among those who wish to obtain all kinds of short-term and medium-term loans.
Even the minimum income requirements aren’t that high, which is why many people find it easy to apply for loans on this site. Besides, lenders offer flexible interest rates to borrowers, making this site ideal for those customers who are facing financial difficulties.
#4. Personal Loans
Personal Loans is known to provide a convenient platform for consumers to obtain loans at reasonable rates of interest. Not only are the loans offered on this site very easy to access, but they’re also of significantly higher amounts than those offered by nearly any other online lender in the industry. The loan amounts that consumers can hope to receive using this site range between $1,000 to $35,000.
However, you should know that higher loan amounts are generally granted only to those consumers who have good credit scores. This doesn’t mean that those with bad credit scores cannot receive loans on this site.
It only means that such borrowers may only be eligible for smaller amounts. If a lender on the site agrees to provide a high amount to a borrower with a poor credit score, they will likely require compensation for this perceived risk in the form of higher interest rate payments.
The repayment period offered to borrowers with bad credit loans ratings may be significantly shorter than those offered to those with good ratings as well. The main types of financing options available to those who use Personal Loans are payday loans, bad credit loans, home improvement expenses, and debt consolidation. Out of all these options, payday loans seem to be the most popular and widely lauded.
The entire application process is conducted online, and clients can connect with potential lending partners or lenders in no time.
In other words, Personal Loans doesn’t act as a lender; it just helps you connect with them and sits back so you can negotiate the terms of your loan without any outside interference. Payday loans are provided by lenders to those who can prove they have some form of income from employment or other sources.
A great benefit of using this site is that it not only connects you to a network of lenders on the site but also to lenders listed on third-party lending platforms. However, you can rest assured that your information is safe with the site.
Therefore, you wouldn’t be wrong in assuming that this company values the privacy and security of its customers above everything else.
The repayment period associated with most loans granted on the site could be anywhere between 3 months to 72 months. This period varies depending on the lender you get in touch with, the interest rate you’re willing to pay, and the loan amount you’re looking to borrow.
In some cases, it may even depend on your credit score and income. Whichever way you look at it, you’re sure to have more than one choice of the repayment period and interest rate associated with the payday loan amount you require.
- Convenient navigation for borrowers and lenders
- No hidden charges
- Reasonable and easy repayment periods offered
- Offers short- and medium-term loans
- Repayment periods of up to six years for installment loans
- Some lenders may require additional information for poor credit score borrowers
Consumers are satisfied with the above average monetary value of loans offered through Personal Loans. This is especially true for payday loans. Also, this company boasts quality customer support services, which is why it has maintained good customer retention over the years.
This site helps you tackle just what the company name suggests: unexpected bills that might crop up at any time. Even though BillsHappen isn’t as popular or commonly used as other sites we’ve reviewed on this list (such as MoneyMutual and Cash USA), it has established a solid online marketplace for borrowers to obtain funds and lenders to earn on interest.
The processes involved in obtaining a loan using this site are completely hassle-free, meaning applying for a loan shouldn’t take up much time and effort on your part.
What’s more, loans approved through BillsHappen may be granted by the following business day. So, if you’re grappling with debt and may require something more than a payday loan to bail you out of it, you’ll find this site to be very useful. We say this because the financial assistance offered by BillsHappen is second to very few lenders in the industry.
This company uses the latest SSL technology to keep all your financial information under lock and key. Therefore, once you fill out the application form, you can sit back, relax, and wait to hear from a lender without having to fret over whether or not your information is safe. Since this company only acts as an intermediary and is not involved in the actual loan transaction, it doesn’t charge you any additional fees.
If you’re seeking out a loan to alleviate financial troubles, this may come as a boon to you since hidden fees can significantly add to loan costs if you are not careful. Simply complete the BillsHappen application form, and then a lender will review it. If they decide to trust you with their money, BillsHappen will then redirect you to the lender’s site for further direct communication between you and the provider.
In doing so, BillsHappen effectively eliminates itself from the exchange, thereby giving you and the lender the freedom to negotiate loan terms that are agreeable to both parties. Furthermore, as is the case with all highly reputed sites, BillsHappen is certified as being a safe service by trustworthy bodies as well.
To save time and get the application process over with quickly, make sure you have your documents and details such as your driver’s license, social security number, home address, bank account details, and phone number available to fill out the form.
You will also need to provide your employment details and information on any additional source of income to gain approval from lenders. A credit score may be required to gain approval as well, but a high score may not be necessary.
- Payday loans may be offered for all credit scores
- Fixed income-friendly
- Multiple offers with varying terms
- No restrictions on how funds are used
- Poor credit scores may result in very short repayment periods
The most popular feature of this site among customers is its ease of use.
Once you open the company’s official website, you’ll find all the information you need to determine whether you’d like to obtain a loan through BillsHappen – which is something that’s lauded by scores of users.
Customers also seem to appreciate being able to receive loans on this site in spite of being unemployed.
#6. Cash Advance
Established in 1997, Cash Advance has been providing loans to customers in need for over 2 decades. This company is renowned for connecting borrowers to lenders as quickly as possible, thereby excelling as a source of instant payday loans. What’s more, this site is a free service that makes short-term funding options easy to use for borrowers in need.
Your information is relayed to interested lenders, who may contact you after reviewing it adequately. As you can submit a request for a loan anytime, anywhere using this site, you can be sure to receive the funds you require just when you need them.
After a lender has had the chance to review (and hopefully approve your request), the site will detail the next steps you’ll need to follow in the application and approval processes.
Not only does this site offer traditional loans such as payday loans, but it also offers you other financing options such as lines of credit. The company strongly advises that all customers go through the terms and conditions of each loan offer carefully before deciding which lender to trust. After all, Cash Advance is only an intermediary; you will deal with your lender directly after filling in the application form provided online.
Cash Advance cannot determine the APR rates you can expect to pay when accepting a loan through their site. Since its job is to connect you to lenders, that’s all it does, and terms such as APR rates can be discussed with the lender they put you in touch with.
Therefore, it’s a bit challenging for customers to get a clear idea of the finance costs they’ll be expected to pay during the introductory application process for a loan on this site.
- Loan applications can be submitted at any time
- Sophisticated encryption technology
- Reasonable APR rates
- Resources offered for users that do not receive a loan offer
- Thorough FAQ section
- No available information on APR rates until offer extended by lender
Considering this site isn’t as popular as some other sites, the number of positive reviews we found for it online is quite impressive. In addition, consumers seem to be happy with the fact that they can contact lenders directly on this site without having to pay any additional fees.
This company was established specifically to deal with bad credit loans—in other words, those borrowers who find it difficult to obtain loans from traditional sources due to poor credit ratings or similar reasons can turn to CreditLoan instead and finance their short-term needs.
Some of the leading publications of the day, such as the Wall Street Journal, have featured this site, which only shows how highly reputed and reliable it is.
Besides bad credit loans, there are many other resources available on the site, which gives you a degree of flexibility over how you satisfy your short-term financing needs.
- Reasonable interest rates
- Flexible loan terms
- Options available for a wide range of borrowers
- Loan options of up to $40,000
- Only small loan amounts available for users with bad credit scores
Loyal customers love that this site is safe to use and that the application process is fairly quick. Also, the fact that not all lenders require collateral on this site is especially popular among borrowers who are not financially sound.
How to Choose a Site for Online Bad Credit Payday Loans?
You can keep the following tips in mind to choose the best site for a payday loan:
Check The Prequalification Criteria
Many sites cover some basic prequalification criteria you’ll need to meet before lenders consider whether they want to approve your loan request. These criteria usually include a minimum applicant age, minimum income, proof of employment, and U.S. citizenship. Of course, meeting this criterion alone doesn’t guarantee you a loan, but it helps ensure that you connect with the right lenders.
Consider The Application Process
Some online lenders have more tedious and complex application processes than others. While most of them only ask you to fill in an application form which may take a few minutes, others could ask you to provide additional details such as your credit score.
Therefore, it’s always better to consider what details you’ll need during the application process and how long it will take you to complete.
Compare Interest Rates
Not every online lender offers you the same interest rate on your payday loan. The APR you end up paying depends on your loan amount, repayment term, and (possibly) your credit score and loan repayment history.
You may want to take some time and compare interest rates offered by lenders across different websites before deciding which one you want to go with.
FAQs About Online Bad Credit Payday Loans
Let us now answer some FAQs regarding payday loans.
Q – Are Payday Loans Costly?
A – Not at all. Most payday loans with short repayment terms come with reasonable interest rates, especially if you have a good credit score.
Q – Is It Difficult to Get a Payday Loan?
A – With the introduction of online loan providers, it’s now easier than ever to get a payday loan. However, make sure you meet the prequalification criteria on such sites before applying for such a loan.
Q – Are All Payday Loans Short-Term Loans?
A – No. While most payday loans are typically repaid within 6 months, some lenders are willing to offer repayment periods of up to 6 years, making the payday loans medium-term.
Getting a payday loan shouldn’t be much of a hassle if you follow the right procedures and meet the necessary criteria. Having a good credit score can help you obtain a payday loan, but this isn’t the sole basis on which lenders decide whether they’d like to approve your request.
Since such loans rely more on your employment income (or other steady sources of income) than anything else, having a bad credit score does not have to stop you from getting the finances you need.
The sites we’ve reviewed above are all of the highest quality in terms of flexible interest rates and other terms they offer. Therefore, all you need to do now is choose the site that best fits your financial needs.