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Not every personal loan has funding available the same or next business day for quick cash, but some lenders offer this option.
Find a personalized loan offer with no impact to your credit score
Here are Insider’s top picks for same-day or next-day funding:
Lightstream
Upstart
Avant
Best Egg
LendingPoint
Rocket Loans
OppLoans
All of our three top picks are rated A or higher by the BBB. Keep in mind that a top-notch BBB score does not ensure a positive relationship with a lender. You should keep doing research and talking to others who have used the company to get the most information possible.
Alternatives to personal loans for quick cash
It’s worth noting that if you have an emergency fund or cash savings, dipping into those resources is a better option than borrowing. If you need to borrow money in an emergency, there are a few other avenues to explore.
Payday alternative loans from a credit union
Not to be confused with traditional payday loans, payday alternative loans are offered by many different credit unions and work with all types of borrowers. Only available to members, these loans are good for anyone needing a small loan, and who can repay it quickly.
According to the National Credit Union Administration, payday alternative loans typically range from $200 to $1,000 and have terms between one and six months. Check with your credit union to see if this option is available, and what interest rates and borrowing amounts are available.
Loans from friends or family
While loans from family or friends aren’t to be taken or made lightly, it could be an option for anyone needing cash quicker than a bank could send it.
If you plan to make or ask for this type of loan, one financial planner recommends putting loan terms and repayment plans in writing, and paying interest if possible.
A 0% interest credit card
If you happen to have (or can open) a 0% interest credit card that’s still within the intro APR term, it could be a useful option for spending. However, you’ll need to repay the balance before the 0% term expires. Most cards have between nine and 21 months of interest-free borrowing.
Methodology
All personal loans considered for this roundup had funding available either same-day or next business day. To find the best personal loans for quick cash, we considered the interest rate, range of loan terms available, and amount available to borrow. To make more effective recommendations, winners were broken down into three different credit score categories. Winners offered the lowest APRs of the competition, and the quickest funding.
See our full ratings methodology for personal loans »
How do I choose the best fast cash personal loan for me?
To find the best personal loan for fast cash for you, consider the factors that are most important to you. Many borrowers prioritize the speediest funding time, but also take into account the lowest interest rate, any fees, the minimum credit score needed, and the accessibility of the lender’s customer service. You’ll also want to make sure you’re able to select a term length that works for you and that your loan’s purpose is allowed by the lender you choose.
Guides like this one will help you compare multiple lenders in the same place to weigh their pros and cons. Make sure to also read individual reviews of any lenders you’re considering.
Why trust our recommendations?
At Personal Finance Insider, we strive to help smart people make the best decisions with their money. We spent hours comparing and contrasting the features and fine print of dozens of personal loans so you don’t have to.
We understand that “best” is often subjective, however, so in addition to highlighting the pros of a lender’s personal loan, we outline the cons, too.
Frequently asked questions
Can I be approved for a personal loan without a credit check?
With most lenders, no. All lenders Insider considered in this list required credit checks. OneMain Financial, which we considered, doesn’t have a minimum credit score requirement. A credit check could help you get the best interest rate that you qualify for. If you can’t qualify for a personal loan, there are alternatives for borrowing money such as using a credit card with an intro APR offer.
What can a personal loan be used for?
Personal loans can be used for a variety of reasons, and lenders generally specify what loans can be used for. Generally, they’re best used for emergencies, like a home repair or medical expenses.
Personal loans can also be used to cover large purchase expenses that don’t qualify for other loans, like a motorcycle or RV purchase, or for a wedding. Credit card debt consolidation is another common use, making credit card debt easier to manage by putting it all into one monthly payment. Check with your lender to make sure your plans fit the lender’s personal loan options.
Could I save money by waiting longer for my cash?
In some cases, yes. Some lenders will charge higher interest rates or fees for the convenience of quick cash. Working with a lender that has a lower interest rate and waiting a few days for your money could help you save on interest over time.
However, that’s not always the case. Anyone with excellent credit scores looking for a personal loan should certainly consider LightStream, as low interest rates make it a top contender for personal loans even for people who don’t need the cash immediately. The same goes for borrowers with fair credit scores and Avant, which also topped our list of best personal loans in 2022.