Finding the best payday loan sites online isn't always an easy task. When you compare payday loans online, you'll find out that not every payday loan lender can offer loans in all USA states. Some have different APR rates, some deliver funds much faster and some loans lenders online can even provide you with different repayment terms. For example, loans like Rise Credit can provide you with a line of credit similar to a credit card. On the other hand, loans like LendUp and Elastic Loans provide you with a simple way to rebuild your credit.
When searching for the top payday loan companies online, the task can become overwhelming rather quickly. Knowing which one is the best for your needs is a complicated decision to make. With variable APR fees, different loan types and different borrowing limits, it's crucial that you pick the best option for your needs. We recommend LendYou for its great versatility - they allow you to borrow up to $15,000 as a personal loan, which means affordable fees and longer repayment options.
Fortunately, we've created a list of the top payday loan sites online so you can rapidly compare payday loans like LendUp, CashNetUSA and all of the other leaders in the industry. Depending on your needs, sites like LendUp may be enough with their low loan amounts, but if you need larger amounts, personal loan sites may become a better option for your needs. So we've added a mix of the top payday loan companies and the best personal loans online. Browse our chart below to compare payday loans now and keep scrolling for our good payday loan reviews.
Top 6 Payday Loans Compare Chart
Check Into Cash
Slam Dunk Loans
87 to 805%
200 to 1,300%
5 to 30%
154 to 1,147%
200% to 2,290%
300 to 500%
1 Business Day
1 Business Day
1 Business Day
1 Business Day
1 Business Day
1 Business Day
Max Loan Amount
How to Find Good Payday Loans Online
when searching for the top payday lenders online, there are few things you should know about. You should never enter a loan contract blindly without knowing what you are getting yourself into. Different loans lenders will have different rates, fees, repayment terms and more. For instance, sites like LendUp only allow you to borrow up to $250 and they only provide you with 30 days to repay the loan in full. We're going to cover a few factors that you should know about before committing to a direct payday lender online.
- APR - The APR (Annual Percentage Rate) is one of the most important factors to consider when taking out a loan. This is especially true if you aren't sure if you will be able to repay it in full on time. The APR determines how much you will pay in interest per year until the loan is repaid. Even the best payday loan companies have high APR rates, but since the terms are so short, you shouldn't have to pay too much interest unless you go over the repayment period.
- Support - A quality support team is essential when taking out a payday loan online. You want to be sure that you can contact the payday loan company at any time. Fortunately, all of the lenders listed above provide you with an excellent support staff so you never have to worry about a thing.
- Loan Amount - The amount you can borrow will greatly vary from one direct payday loan lender to another. Some loans like LendUp can only provide you with tiny amounts. However, others can provide you with as much as $5,000. If you need more than that, you should consider a personal loan such as sites like Upstart or MoneyLion.
- Speed of Funding - In general, the top payday loan companies will be able to send you the funds in as little as one business day. However, some lenders can take several days and some may even need a full week or more. All of the payday loans listed above can provide you with next day funding, allowing you to get the cash as quickly as possible.
- Paperless Application - Some lenders can allow you to fill out every required step without having to fax in papers. This may seem like a minor detail, but it can actually make the process much easier to complete and it will also allow you to save a ton of time. Always opt for a paperless payday loan option when available.
Over 52% of people who take out payday loans do so because it's their last resort. They cannot get approved for any other type of loan. 35% say it's because of how quickly they can receive the funds. Taking out payday loans can actually increase your credit score as long as you always pay on time.
- Age - The first most important thing to consider before applying for an online loan is your age. No lenders will accept to lend money to people under the age of 18. Some states require you to be 19 and some won't even consider people under 21.
- USA Citizen - When borrowing from lenders in the USA, you will need to prove your residency. Most lenders will require proof of residency as a basic eligibility requirement.
- Proof of Income - While you don't need to make a 6-figure salary in order to get approved, you do need some sort of income. This shows the lender that you will in fact be able to repay the loan. Most lenders mentioned above will require $800 to $1,000 per month as a minimum income.
- Time at Job - Just like with the proof of income, lenders want proof that you will be able to repay the loan on time. The amount of time you've been working at your current job is another factor they will check. Most lenders require you to be at least 90 days at the same job, but some lenders like CashNetUSA or LendYou are capable of getting you approved with as little as 30 days at the same job.
- Checking Account - You will need a valid checking account in your name in order to receive the funds. Most lenders wire the money directly into your checking account the very next day.
- Credit Score - Finally, they will often check your credit score. Most short-term lenders similar to LendUp and LendYou will disregard your credit score as long as you have a solid proof of income to show. However, the higher your credit score, the better your chances of getting approved.
Now that you know what to look for when you compare payday loans, you'll want to decide between the top payday loan companies available. Below you will find good payday loan reviews so you can easily make up your mind. We guarantee that each one of the payday lenders listed in the chart above and in the payday loan reviews below offer quality support, excellent rates and a fast delivery of funds. Read our loan reviews now to pick one that suits your needs.
3 Best Payday Loan Reviews
CashNetUSA is definitely one of the top payday loan companies available online. They have one of the most popular loan sites online with millions of monthly visitors. CashNetUSA provides you with the ability to get a maximum loan amount of $3,400 depending on your state and credit history. Most loans require a minimum of a few months at the same job along with 18 years of age and a valid bank account. One of the excellent things about CashNetUSA loans is their superior support team that is always by your side when you need them the most. Most loans range between 30 to 45 day periods, but you can apply for instalment loans as well, which provide you with more funds over a longer period of time. If you're looking for good payday loans online, your first stop should always be CashNetUSA.
Upstart Loan Review
We added an Upstart loan review to the selection because it's an amazing alternative to payday loans. They provide you with personal loans and instalment loans that can reach as high as $50,000. However, you can also borrow as little as $1,000, making this a very versatile option for many different needs. Upstart makes it easy for you to get approved for funds online regardless of whether you want to pay of credit cards, buy a car, pay for school fees or even start a business. Since Upstart provides you with personal loans, their APR rates are much lower than even the best payday loan sites online. We highly encourage you to give Upstart a look and if you can get approved here, you will save a ton of money on interest.
Check Into Cash Review
Check Into Cash is another one of the good payday loans online that you will love using. They provide you with decent rates and they have numerous physical locations found all throughout the USA, allowing you to easily visit a local branch if needed. With a superb support team and the ability to borrow up to $1,500 depending on your location, Check Into Cash is an excellent choice if you need quick cash loans online or offline. Funding is as fast as 1 business day, so you won't have to wait around for your funds to arrive. Another major benefit of applying for payday loans online at Check Into Cash is the entirely paperless process that allows you to electronically sign everything without having to fax anything.
Always Prioritize Direct Lenders for $5000 Loan Applications & Higher
Payday loans like Speedy Cash, LendUp, CashNetUSA, Rise Credit and all of the other major lending companies all have one thing in common - they are direct lenders.
What is a direct lender and what is the alternative option?
To keep things simple, a direct lender is a company that lends you money directly from their pockets. This means loans like LendUp are funded by LendUp directly and do not pass through a 3rd party in order to get you the funds.
The alternative (indirect lenders) do not lend money directly. Instead, indirect lenders act as a sort of middle-man, connecting you with direct lenders. These types of loan providers will usually compare numerous lenders in order to get you the lowest rates and the best repayment terms. However, they keep a small portion of the payment you send on a monthly basis, which causes your fees to rise a little.
Indirect lenders can be beneficial if you're only taking out a small loan and plan on repaying the loan in full rather quickly. In fact, they can occasionally help you save money by getting you such great rates that even with their commission added onto your payment, you could be paying less than when choosing a direct lender.
When to Choose a Direct Lender - $5K Loans & Over
Now, there may come a day where small payday loans like Speedy Cash just won't be enough to cover your needs. When you start looking for $5000 loan providers online or higher, you'll want to be sure that you choose a direct lender. Here are few good reasons to do so with larger loan amounts:
- Larger loans typically last much longer (months, even years). You'll be much more likely to have to contact your loan provider directly, so having direct access to the company that funded your loan is ideal for anything over a 5000 dollar loan.
- The higher your loan amount, the more interest you pay and anything over a $5000 personal loan will make each and every decimal movement on your interest fees highly noticeable. Going from 15% interest to 16% interest fees on a $500 loan that you repay in 4 weeks won't make much of a difference. However, that additional 1% of interest on a $5000 loan over 3 years will end up costing you roughly $100 more. Direct lenders can usually save anywhere between 1% to 10% in APR fees when compared to indirect lenders, meaning massive savings in the long run.
*BetterCash is the new platform which was formerly known as LionLoans and MoneyLion.