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Afraid to loan and don’t know where to start? We’re here to help.

How can we help you?

Does your credit score matter?

Bad credit, good credit, no credit? There are short-term lending solutions regardless of your financial health. Click for more information.

How can I qualify?

Short-term loan applicant qualifications will vary from lender to lender. However, there are some basics that are required across the board. Click to learn more.

What are the best terms?

Educate yourself on varying products and term agreements to find out which solution works best for you and your finances. Compare solutions here.

Understanding short-term lending.

Short-term personal loans are a common and necessary service that is used by millions of Americans every year. A staggering 40% of Americans are unable to cover an emergency expense of $400 or more. It is important to know that if you’re in a position to need a short-term loan for yourself or your business, you are not alone. 

Personal loan borrowers are often close to their credit card limit or are unable to acquire traditional financing due to poor credit. For this reason, short-term lenders vary with their requirements, but there are a few things that remain consistent across the board. Applicants are required to provide their name, employment information, social security number, valid bank account and valid driver’s license. More information might be required dependent upon the lender’s underwriting requirements. 

Those that are applying for an online short-term personal loan usually have one thing in common. They need their funds, fast. This is where short-term alternative lenders have a leg up on their traditional banking counterparts. Approved applicants typically receive their funds within 24 hours, directly to their specified bank account. This is crucial for those that use this product, as it’s typically an emergency or unexpected expense that must be taken care of quickly. Applying for and receiving a new credit card takes 7-10 business days at a minimum and traditional bank financing can take up to 30-45 business days for the applicant to receive their approved funds.

Due to an increase in online fraud over the past 5 – 10 years, it is recommended to be diligent in your search for an online personal loan. Luckily, that’s what you’re here! Check out our list of verified lenders below. State-licensed direct lenders are regulated by the state and are required to go through rigorous auditing to ensure that you are dealing with a reputable lender that provides a reputable product. Verify a lender’s authenticity by looking to customer reviews on either, or social media channels; such as Facebook, Twitter or Instagram. Also, state-licensed direct lenders will have their license information on their website as well as fine-print information at the bottom of every of their site. Oftentimes, you can verify a lender’s legitimacy by calling into their business. If you’re unable to find contact information on a company’s website, steer clear. A reputable lender will provide tools to speak with a support staff for assistance with your loan, completing an application and general questions about their product.

Short-term loans are a great tool to use when necessary, but it’s important to avoid getting in the habit of a continuous cycle of debt by consistently relying on a personal loan to get from every paycheck to paycheck. We recommend that if you choose to use a short-term loan when you’re in a financial bind, that you make a conscious effort to repay the loan as soon as possible. 

Frequently Asked Questions

We have the answers to common questions about short-term loans.

Below are the four most frequently asked questions about short term loans. 

What is a short-term loan?

Short-term loans are typically for amounts less than $1,000 with quick turnarounds — generally less than 90 days. Regulations vary by state, with some banning the practice outright because of the high interest rate. However, many people turn to them because of their convenience and because they cater to people with poor credit.

Payday loans are the most commonly offered option, but you’ll also find many lenders that offer installment loans and auto title loans. Different lenders have different eligibility criteria, so check with yours to make sure you qualify before applying.

Can I still get a loan if I don’t have a bank account?

Yes, but you’ll typically only have two options:


  1.  Prepaid debit cards. Load funds to a prepaid card that you can use whenever you need. Lenders like Speedy Cash offer prepaid cards that you can refill with your loan funds or even your own cash.
  2.  In-store cash pickup. If you live near a store location, you could apply and receive cash for your loan. Processing may take a bit longer, but you likely won’t need a bank account to qualify.

I get my paycheck on a prepaid card. Will lenders transfer funds to it?

Possibly. You could find lenders willing to transfer your loan onto a prepaid card, especially if you don’t have a bank account or don’t want to provide one. Lenders may charge a fee for this transaction, however. And as with all short-term loans, be prepared to handle high interest rates on your repayments.

How do I know if it’s safe to enter my personal information online?

A key rule of thumb when entering your info online is to check that you’re on an encrypted page. Look for a padlock to the left of your page’s URL, which itself should start with “https,” indicating a secure site. If you don’t see either, take caution.

Short-term lenders offering solutions.

You are not alone. Almost half of Americans are unable to cover an emergency expense of $400 or more and are carrying an average of $6700 of revolving credit card debt per household. Short-term, personal loans are becoming more and more widely used as the need increases throughout the United States. Personal loans are more efficient than traditional lending as approved applicants receive their funds within 24-72 hours of loan approval, most times deposited directly to their bank account. 69% of short-term loan borrowers are using the loan to cover a necessary, recurring expense; such as, a mortgage payment, utility bill or medical payment.

Traditional lending isn’t cutting it.

Big banks have long shied away from servicing short-term personal loans because they are expensive to service due to underwriting time limits and low principle amounts. The rise of online short-term lenders have overcome these obstacles with the assistance of technology. Relying heavily on online applicants and streamlined underwriting to make a approval decision within seconds, not days. Rather than requiring the applicant to leave a blank check or pick up their loan amount in cash, funds are being deposited directly into the customer’s bank account.



40% of Americans are unable to cover a $400 emergency expense.

   Which short-term personal loan is right for me?

Unsecured Personal Loans

Are you struggling to make it to your next paycheck? Have an unexpected expense that you're unable to cover? Bills simply piling up with no where to turn? Short-term lending might be an option for you. Personal loans; such as, installment and payday loans are low dollar, unsecured lending solution for those that are in need of cash, fast. In 2019, most personal lenders have an online website where a user can complete an application within minutes, get a decision in seconds and receive their funds less than 24 hours later.

State legislature regulates short-term lenders, so products and terms will vary from state to state and from lender to lender. Traditionally, there are two types of short-term loans that are most frequently offered: installment loans and payday loans. Installment loans are similar to a traditional loan where the customer pays back the principle and interest with several payments over a longer period of time. This would be a great solution for someone that has or is anticipating a large expense and would like to allow themselves more time for repayment. Also, this could be a great solution for someone that is looking for a larger loan amount. Be careful to read the fine print and take note of any potential fees that are associated with this product outside of the typical interest or upfront fee. 

Second, and most common is a single pay payday loan. Payday loans were developed as a resource for Americans to attain needed funds in between pay dates, hence it's name. Applicants can borrow up to a certain amount of money depending on state regulations and pay a flat fee based on the dollar amount borrowed. This loan product has the quickest pay-off date, with borrowers being required to pay back their loan and fees by their next payday falling within 8 - 30 days of the time the loan was approved. This is useful if you are just in a tight spot and need a smaller sum to make it to your next paycheck or for an unexpected expense like an auto or medical bill.


Alternative Business Loans

An estimated 120 million people are employed by a small business in America. That accounts for almost half of the work force! Small businesses are a integral part of our country’s economy, but their access to funds is minimal at best. Traditional lenders rarely offer loans under $100,000 and the underwriting to funding time can take up to 30 business days!

Enter, alternative business lenders. Specializing in loans of varying sizes, alternative business lending has opened the door for small businesses to receive the working capital they need to move their business forward. Lenders offering both secured and unsecured products at varying rates, for varying purposes. Merchant cash advance, payroll advance, inventory factoring, commercial real estate loans, and more.

Additionally, alternative business lenders work with business owners with a range of credit scores and financial health.

Benefits and Drawbacks of Short-Term Loans

Positives of Personal Short-Term Loans

  • Personal short-term loans are unsecured
  • Non-payday loans can have low interest rates
  • They have flexible payback options
  • They’re easy to get (compared to a business loan or debt consolidation)

Negatives of Personal Short-term Loans

  • Sometimes, personal loans can take several business days to hit a bank account
  • A lender can place a lien on home if they go unpaid
  • Rates and fees can be costly with payday loans
  • Loans are not reported, therefore do not help build credit

Verified Online Short-Term Lenders

We’ve curated three reputable lenders with varying services to meet your needs.

Speedy Cash

Speedy Cash provides payday loans, installment loans and other financial services in 27 states. Loans are available in storefront locations and online, depending on the state you live in.

4.3 out of 5 stars (4.3 / 5)

Net Pay Advance

Net Pay Advance offers both single pay loans and installment loan options. For curveballs, a single pay lan can get you to your next paycheck at a one-time expense. For larger expenses or higher loan amounts, installment loans can be broken down over several months making it a better alternative.

5 out of 5 stars (5 / 5)

Acumen Connections, Inc.

Acumen Connections, Inc. provides short term business loans whether you’re a new business looking for a processor or an established business that needs a loan to fund a store remodel.

5 out of 5 stars (5 / 5)

Still have questions about  alternative lending?

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