3 same day loans that are not payday loans


When money is tight for an unexpected emergency or an immediate bill, a quick loan could be an overcoming.

Unfortunately, people in this situation often take out risky and expensive payday loans. These loans are popular because many do not require a credit check and you can get cash on the same day. Plus, they usually have extremely high interest rates – they can exceed 400% per year – and have terms of just two weeks.

The combination of high interest rates and short terms makes it difficult to get out of debt on the payday loan. Borrowers are stuck in a cycle of just paying off interest and taking out new loans every two weeks.

If you’re wondering how long it takes to get a loan without such predatory terms, the good news is that there are quick options with much lower interest rates. You don’t get the money the same day, but the following lenders can fund loans as early as one business day after approval.

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1. Discover the personal loan

Discover Personal Loan is a low-fee option for borrowers with the creditworthiness to qualify. You need a FICO® score of 660 or higher to meet this lender’s minimum requirements.

Loan amounts start at $ 2,500 and go up to $ 35,000. This lender offers some of the longest personal loans available – you can get a loan in terms of 36 to 84 months.

The beauty of a Discover Personal Loan is its affordability. Its low interest rates are competitive with the best personal loans and there are no prepayment or commitment fees.

2. Upstart

Upstart has some of the most flexible creditworthiness requirements of any lender. The minimum FICO® score to qualify for a personal loan with Upstart is 580. It also offers loans to consumers who do not yet have a credit score. In this case, Upstart will base its decision on your education and employment.

Upstart can have high interest rates, especially for borrowers with low credit ratings or no credit history. Loans can also come with high lending fees.

This lender offers loans ranging from $ 1,000 to $ 50,000, and you can choose between three or five year terms. There is no early repayment penalty. So if you don’t need a loan for a long time, you can pay it off early with no additional fees.

3. Avant

Avant specializes in loans for low credit borrowers. The minimum FICO® score to be approved for a personal loan with Avant is 580.

The loan amounts range from $ 2,000 to $ 35,000 and the terms are between 24 and 60 months. Avant does not charge any prepayment penalties.

The biggest downside to Avant is the fees. Interest rates are high and management fees may apply.

How to speed up the loan process

In order to go through the credit process as quickly as possible, have documents ready and watch out for errors in your application.

Most lenders require the following documents when applying for a loan:

  • ID: You may be asked to show an ID or two, such as a passport or ID card. B. a valid driver’s license, passport, social security card, or other government-issued ID.
  • Proof of income: Bank statements, pay slips or tax returns
  • Proof of address: A mortgage agreement, a rental agreement, utility bills on your behalf, or a voter card

Please check the information when filling out the application. Any mistake, such as a wrong digit in your bank account, can cause delays.

Payday loans can be quick, but there are other lenders who provide money almost as quickly. Each of these three lenders may give you a loan on the day you apply and then receive the money the next business day. There is just a little more time to wait for a much better personal loan deal.


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