Cash advance loans can save the day when money is tight, and expenses are looming. Loan finder services across the USA can put consumers in touch with a wide range of lenders in just a few minutes. While loans are never 100% guaranteed, these finder services can put you in touch with lenders most likely to consider and approve your request.
Cash advance apps and payday loan apps may require a credit check to determine the loan’s affordability for the borrower due to regulatory lending requirements. If you can afford to comfortably repay the loan you’re applying for; you’re at least eligible for a cash advance. Now, that’s good news!
Best Cash Advance Apps That Loan Money in 2022 – Quick Overview
- Viva Payday Loans – Overall Best Instant Cash Advance App
- Heart Paydays – Best For Bad Credit Borrowers
- Credit Clock – Best For Almost Instant Application Outcome
- Money Lender Squad – Best No-Frills Online Application
- Very Merry Loans – Best For Small, Easy To Repay Loans
Cash Loan Apps That Loan Money Until Payday – General Eligibility Criteria
Apps that loan money fast may have varying eligibility requirements but the basic requirements you can expect are as follows:
· At least 18 years old to apply
· Have a permanent US address
· Good FICO score and qualifying debt-to-income ratio
· Minimum income (usually mentioned on lender’s websites and typically needs to be more than $1,000 per month)
· Valid check or savings account that supports direct deposit
5 Best Cash Advance Apps Online – Full Reviews
If you’re hunting the market for apps that loan you money until payday, you will find the following have good reputations.
Viva Payday Loans – Best Overall Cash Advance App in 2022
Pros
· Quick loan decision
· Loans between $100 and $5,000
· Flexible repayment period of 2 to 24 months
Cons
· Interest can be as high as 35.99% (starting from 5.99%)
Viva Payday Loans is one of the best apps that will loan you money (by connecting you to a lender) to get you to your next payday. While lenders on this particular loan finder site each have their own terms and interest rates, ranging from 5.99% to 35.99%, many try to remain competitive by lowering their APR. There are no upfront fees or costs to use the service, and when it comes to finding simple cash loan apps – this is it.
The online application is quick and easy, and you’re guaranteed to get an outcome within 2 minutes of submitting your application. Depending on your income to debt ratio, you can borrow anything between $100 and $5,000. If you are 18 years old, have a permanent US address, and earn at least $1,000 per month, you can use this loan finder to discover the most viable cash loan apps available to you.
Click here to request funds at Viva Payday Loans >
Heart Paydays – Best for Bad Credit Borrowers
Pros
· Pay off the loan amount bit by bit
· Bad credit borrowers welcome (subject to affordability assessment)
· Loan application approved or rejected within minutes
Cons
· Increasing interest, the longer you take to repay the loan
Heart Paydays is one of those apps that will loan you money even if you have a bad credit history. This doesn’t mean that you can get a loan you can’t afford when using this loan finder site, as your income to debt ratio will play a large role. The payday loan apps you can be put in touch with via Heart Paydays have varying APRs from 5.99% to 35.99%. You can borrow between $100 and $5,000 with 2 to 24 months to pay. You must earn no less than $1,000 per month, have three months’ bank statements and payslips available, and prove affordability through an assessment of your income and expenses to be eligible for a loan with Heart Paydays.
Click here to request funds Heart Paydays >
Credit Clock – Best For Almost Instant Application Outcome
Pros
· Free loan finder service to find the best lenders
· Fast disbursement
· 2-minute online application
Cons
· Applying doesn’t guarantee approval
As far as cash advance apps go, Credit Clock is one that puts borrowers in contact with some of the USA’s most reputable lenders. This loan finder service presents lenders offering loans of between $100 and $5,000 with repayment options of 2 to 24 months. While APR can vary from lender to lender, the service doesn’t match borrowers with lenders charging more than 35.99%, which is convenient when looking for the most affordable apps that loan you money.
The decisions that Credit Clock’s supported lenders provide are subject to affordability checks and credit checks too. Credit Clock’s online application takes just two minutes to complete, and you should be almost instantly provided with an outcome. If a lender can assist you, you will finalize the deal directly and expect the loan to reach your bank account by the next business day (although this is not always the case). Lenders and various cash loan apps available through Credit Clock will require you to be of legal age (18 years at least), be a citizen or permanent resident of the US, have a working checking or savings account, and earn at least $1,000 per month to be eligible to apply.
Click here to request funds at Credit Clock >
Money Lender Squad – Best No-Frills Online Application
Pros
· Very simple application form
· Loan anything from $100 to $5,000
· Get access to a plethora of reputable lenders by applying once
Cons
· Credit checks may apply
Money Lender Squad is a no-frills loan finder service that’s right up there with the most easy-to-use payday loan apps in the US. Their site works on the basic premise of selecting the amount you want, how long you wish to pay it back over and then completing a quick and easy application form with your personal particulars. You can select between $100 and $5,000 and get up to 24 months to pay.
Keep in mind that lenders servicing this loan finder site and other apps that loan money may carry out affordability assessments and credit checks to determine if you’re a suitable candidate. You must be 18 years of age, earn at least $1,000 per month, and have a permanent residential address in the United States to apply. APR ranges from 5.99% to 35.99%, depending on each lender’s willingness to be competitive.
Click here to request funds at Money Lender Squad >
Very Merry Loans – Best for Small, Easy to repay loans
Pros
· Short loan terms (easy to repay)
· Simple, quick online application process
· Provides a decision in minutes
Cons
· Loans only go up to $2,000
Very Merry Loans is among the top cash advance apps for providing everyday Americans with access to small loan amounts and, therefore, affordable. The site works as a free loan finder service for borrowers looking for lenders most likely to approve their loan applications. Lenders on the Very Merry Loans panel provide loans between $100 and $2,000 with 2 to 12 months to pay. The online application is one of the simplest available with quick outcomes too.
Loan disbursements typically happen by the next business day, but this isn’t guaranteed. APR rates range from 5.99% to 35.99%, although some lenders try to remain competitive and reduce their rates. The best way to ensure that your loan application with Very Merry Loans, or any of the other apps that loan you money until payday, is processed and paid out quickly is to ensure that you meet the eligibility requirements and have your supporting documents on hand (bank statements, pay slips, proof of address and valid form of ID).
Click here to request funds at Very Merry Loans >
How We Chose The Best Cash Advance Apps
Choosing the best cash advance apps is no easy task for the average American, and that’s why we pieced together this quick review to help you better understand the best apps out there. Below are a few of the areas we focused on when determining the best apps:
Costs
Value for money is important when choosing the best cash advance apps. As a borrower looking to save money, it is ideal to work with platforms with lenders with the lowest interest rates and fees.
No time-wasting
If you want to cut back on the frustrating and nail-biting often involved when applying for loans, you should work with platforms that offer the quickest turnarounds on both approvals and payouts. The five loan finders listed above
Transparency and ethical lending
If you want to feel at ease taking out a loan, it’s best to loan finder services and cash advance apps that deal with lenders who are the most reputable and transparent in the US. With our five recommendations of loan finders above, we’ve taken the guesswork out of the process for you. All five loan finder services mentioned above only deal with the most reputable lenders.
No frills and no fuss
For an easy process, it’s best to seek out cash loan apps that are the easiest to use – no frills, no fuss options are the best, and that’s what we looked for in each of the loan finders we reviewed.
What Are Cash Advance Apps?
Cash advances apps work much the same as payday loan apps. These are apps that will loan you money until your next payday. Cash loan apps typically provide small loan amounts that can be repaid over a short time with interest attached. Most payday loan apps that loan money in the US charge an APR of up to 35.99%.
Advantages Of Cash Advance Apps
There are several advantages to finding the right loan for you by using apps that will loan you money. Here they are:
Same Day Payout
One of the biggest advantages of using cash advance apps for many people is that they link borrowers to lenders who typically pay out on the same day that they’re applied for. This can be very convenient, if you’re face with an emergency or sudden expense, and you don’t have time to wait around for the cash you need.
100% Online Application
Another of the great benefits of apps that loan you money until payday is that they don’t require you to leave the comfort of your home or office to finalize. All you have to do is complete a quick and easy online application form, and that’s it – you’re sorted out. Everything is done online, from choosing how much you want to loan to finally signing the application.
2-Minute Approval Process
Nobody wants to spend time filling out countless application forms, uploading documents, and then waiting for a few days to hear back about the outcome of the application. There’s no waiting around when using one of the best cash advance apps. Once you’ve submitted the application form online, the automated system will ensure that you receive an outcome in about 2 minutes.
Easy Repayment Terms
Paying back a loan can be stressful if the repayment terms proposed are unrealistic. Therefore, lenders that work with the abovementioned loan finders make sure that their loan terms are negotiated directly with the borrower. In most instances, terms offered are 2 to 24 months with between 5.99% and 35.99% interest.
No Collateral Required
Apps that loan you money until payday don’t require borrowers to put up any form of collateral. The loans are unsecured, meaning they’re small amounts, typically between $100 and $5,000.
Low FICO Scores Welcome
While being responsible with money is important, those with a less than stellar credit score are still welcome to apply for loans through cash advance apps. Of course, the lender will do their due diligence and only approve loans that the borrower can actually afford to pay back. This means that if you’ve got a low credit score but earn enough to afford the monthly installments comfortably, you’re eligible to make use of apps that will loan you money.
Ultimate Convenience
Using cash advance apps is a convenience to many people in several ways. For starters, there’s no need to jump over hurdles like you’d have to with a bank loan. If you’ve got a low credit score, you still stand a chance of getting a loan. Everything is done online, and if you need to query anything on your loan contract, you are in direct contact with the lender.
Procedure For Requesting Cash Advance Apps
If you seek to be connected to top-rated lenders for a cash advance loan in a short time, regardless of your credit score, check out Viva Payday Loans. We’ll be providing a step-by-step guide to seeing the procedure through.
Step 1: Choose your loan amount.
Be wise when choosing your loan amount; go for an amount you won’t have difficulty repaying. When you visit the site, you’ll see a form with spaces to fill in the amount you’d like to borrow and when you’ll be able to repay.
Step 2: Complete your registration by filling out the application form
The form is not limited to inputting information on just the loan amount and repayment time; you’ll need to fill in other details. Your information is safe as no one else will see it except you, Viva Payday, and the lender.
Step 3: Wait for a decision from their partners
Reaching a decision won’t take time at all. Once you are done filling out the form, it’ll take about two minutes for you to find out whether your loan will be processed or not.
Step 4: If accepted, subject to further checks and final acceptance, receive your loan
Getting your loan processed is usually the outcome, even if you have a poor credit score. So, once a decision has been reached, you’ll be connected to a third-party lender, and the loan will be made available to you usually within 24 hours.
Cash Advance Apps Features & Factors To Consider
There are several things to consider when using cash advance apps:
Fees
Each lender will charge its own interest rate. The better your credit score is, the lower you can expect the offered interest rate to be. There may be hidden fees when using payday loan apps. For instance, if you don’t check the terms and conditions before signing your loan agreement, you may overlook that there are penalties charged for late payments and early payments. Some lenders will also charge an establishment fee, so it’s best to check before going ahead. All the cash advance apps featured in this review charge zero fees for their loan finder service.
The Repayment Terms
One of the most important factors to be aware of when using apps that will loan you money is how they expect you to repay the loan. Most cash advance apps offer 2 – 24 or 2 – 12-month repayment terms. This provides each borrower with sufficient time to repay their loan with ease.
Credit Checks Apply
There’s often a misconception that some payday loan apps don’t carry out any checks on the applicants. Regulatory lending requirements stipulate that credit checks are carried out. Still, many lenders combine this with an affordability assessment to determine if someone who has a poor historical credit history can now potentially afford a loan or payday advance.
Top Alternatives To Cash Advance & Payday Loan Apps
Of course, cash advance apps and payday loan apps aren’t the only routes to take when you’re looking for a financial helping hand. There are several alternatives to consider as follows:
Peer To Peer Lending
Peer to peer lending, sometimes called P2P lending, enables borrowers to get the cash they need from an investor instead of the bank. Peer to peer loans has streamlined underwriting processes and flexible credit requirements. For borrowers who struggle to qualify for other financing options, peer to peer lending offers the opportunity to get the cash you need even if you wouldn’t be able to with the local bank. Peer to peer lending opens up doors for both borrowers and investors for new opportunities. Peer to peer lending offers quicker finance than bank loans, but cash advance apps may still get you the money you need quickly.
Credit Unions
Credit unions work differently from cash advance apps. Credit unions provide small business loans and home loans to low-income borrowers. In many ways, credit unions provide similar services to the local bank, except they also offer access to educational programs and better interest rates. Credit unions are cooperative non-profit financial institutions that their members own. While they offer the same services are the bank, the income generated is recycled to its members in the form of benefits and interest. Members of credit unions get better rates on deposit accounts too. If you wish to sign up with a credit union, keep in mind that you need to meet requirements based on your location, your work, and any causes and associations to which you’re connected.
Credit unions are dedicated to helping their members get ahead financially. Members that qualify to join the union must pay a membership fee – this is usually quite low. In addition to that, you will need to fund your account with a minimal amount to activate your membership.
When credit unions provide loans, the members benefit in the form of educational programs, low rates, high rates on savings, and low fees. In short, if you are a member of a credit union, your money could become another member’s money required to buy a car, start up a business, or pay for a deposit on a house.
Pawnshops
Pawnshops are known as a popular alternative to cash advance apps. They offer a cheap way of getting cash fast, but the interest rates vary from state to state and can be 200% APR. While this is an expensive form of borrowing, pawnshop loans are a viable option if you can’t get a traditional bank or payday loan and need cash immediately.
To get a pawnshop loan, you simply need to visit a local pawn shop with an item that has value. The pawnshop will value the item and then decide how much they can loan you. Most pawnshops will only loan a certain percentage of the item’s assessed value, typically between 25% and 60%. So it’s a good idea to shop around with the pawnshops in your local area to ensure that you’re getting the best deal – if you go this route.
If you agree to the pawnshops proposed loan, they will provide you with instant cash and a pawn ticket. You will need to pay back the money and produce the pawn ticket in order to get your possessions back. Pawnshops don’t do credit checks because you leave a form of collateral with them. To get a pawnshop loan, you must be 18 years old (at least) and present proof of purchase or ownership of the item you’re using as collateral. Repayments are usually made over 1 to 2 months. Storage fees and penalties may be charged if you’re late on repayments.
Secured Loans
Secured loans work similarly to pawnshop loans, except they are secured through banks and lenders. You can get secured loans through cash advance apps and payday apps too. You can use your assets to secure a loan with a secured loan. When you have an asset of value, it can be used to loan a larger amount and get a lower interest rate. If you have poor credit, you can even use collateral to get a secured loan, as with these types of loans, your credit score has less impact on the outcome of the loan. Most secured loans available through cash advance apps range from $100 to $5,000 with 2 to 24 months to pay. Interest rates also vary from 5.99% to 35.99%.
Bank Loans
Bank loans are one of the cash advance apps that are best suited to borrowers with a good credit score and a decent debt to income ratio. Bank loans follow a similar model to the type of loans you get from lenders. Once you apply for a loan with the bank, the bank will review your credit score and scrutinize your income and debt to determine what interest rate to offer you and what your repayment schedule should be. Unlike apps that will loan you money, bank loans can take several days for the approval to be processed. When you get the money into your bank account, you will need to repay the loan plus interest.
Most banks offer personal loans to their existing customers. Some banks will accept applications from non-clients as long as they meet their basic requirements. Unlike the lenders that service cash advance apps, most banks require borrowers to have an excellent credit score – this is usually a FICO of 690 or more.
Conclusion
If you’re looking for reputable cash advance apps operating in the USA, turning to any of the five options mentioned above should ensure that you get the financial helping hand you need without unwittingly stepping into a long-term contract with an unscrupulous lender. Ensure that you meet the criteria and upfront in terms of your application particulars, and any of the five cash advance apps will serve you well.
FAQ
Are There No Credit Check Loans In The US?
It’s not 100% possible to get a loan that requires absolutely no credit check because US lending regulations safeguard against this. That said, borrowers can get a loan if they have bad credit and undergo an affordability assessment.
What Apps Let You Borrow Money Instantly In USA?
Viva Payday Loans, Heart Paydays, Credit Clock, Money Lender Squad, and Very Merry Loans are all loan finder and cash advance apps that link borrowers to lenders most likely to pay out their loan by the next business day. Of course, there is no 100% guarantee that this is the case with every lender.
How Do Cash Advance Apps Work?
Cash advance apps loan you money now and expect you to repay it by your next payday. Usually, the repayment is made via direct debit against your checking or savings account.