Instant loans with same-day funding
Same-day loans, or instant loans with same-day funding are short-term loans which can be used for dealing with urgent and unplanned expenses. These loans are usually state-regulated and are not available in all US states. This page contains information about instant payday loans and alternatives.
Which loan can I get the same day?
The loans which you can get approved for and have deposited the same day include short-term loans, such as payday loans & cash advances or installment loans - these are all online loans. Among offline options are title loans and pawn shop loans, but we highly recommend sticking with online options to guarantee your safety during the COVID-19 pandemic.
Payday loans & cash advances
Payday loan is a small loan amount which you take to cover unplanned and urgent expenses until the next paycheck. These are high interest loans with quick approval which you should not use for more than two to three weeks. It is possible to get a same-day payday loan, but not all lenders offer this option.
Installment loans
Installment loan is an unsecured personal loan where you take a bigger loan amount for a longer period and no collateral is used to secure the loan. This is a better option for most borrowers, since the APR is lower than payday loans and you repay the loan in smaller fixed amounts over several months.
Direct lenders vs. brokers for instant loans
When looking for a loan online, you have two options, get a loan directly from a lender or use a broker instead. It might seem the most logical to approach the lender directly, but there are not so evident benefits of using a broker instead.
If you know exactly from which lender you want to get a loan, then this should be your choice. But, if you are shopping around for a better deal or your credit score is poor, then consider using a broker, and here's why:
- Direct lenders can offer only their products (even if this is not the best option for you), while brokers or loan-matching services like 67CashToday can give a better overview of various loans and lenders to find you a better deal.
- It doesn't cost you anything to use a loan-matching service.
- You save a lot of time since the broker does all the searching for you, also you need to deal only with one application form which is then sent to multiple lenders.
What if I have a bad credit score?
Can you get an instant approval loan with same-day funding? Yes. But will it be an easy challenge? No. If you decide to take an unsecured loan, then your creditworthiness, or in other words your credit history is an important factor for the lenders.
The lower is your credit score, the less chances you have of being approved for a same-day loan, or any loan at all. We suggest you request a loan anyways and see if you get any offers which might get your interest. If not, then try taking out a secured loan instead. When you have valuable collateral to back up the loan, then your credit score is not so important, and no credit check will be done.
Find our more about online loans for bad credit with instant approval
Which is a safer way to get a loan?
To avoid the risk of coronavirus it is much safer to go for online loans. Using websites like 67CashToday you can apply for a loan, send the paperwork, communicate with the lender and receive your funds remotely, without the need to visit the lender's office.
Avoid the debt cycle!
We are advocates of responsible lending. Payday loans and installment loans have very high annual interest rates and should be used only in urgent situations and only if you can afford these loans. Payday loans must not be used for longer periods or to repay other loans and debts, which may lead into a debt cycle, where the repayment date is postponed resulting in extremely high interest rates and fees in the end.
How to get a same day loan?
The easiest way to get a loan with same-day funding is by filling out our application form. We need your personal, banking, and contact details to be able to connect you with the best lender. To speed-up the process, make sure that you have all the paperwork on hand and meet the basic qualification criteria.
Qualification criteria
- Must be 18 years of age and a citizen or permanent resident of the US.
- Have a steady and verifiable income source or be employed.
- Have an active check account that can receive direct deposits.
- Have a valid physical address, email address and working phone number.