Quick loans: personal loans with same-day financing



Emergencies happen, and they can get expensive. If you need quick access to cash, you’re in luck: some personal loans come with same-day or next-day funding after loan approval.

Keep reading to see where you can get a personal loan with fast funding when you need cash fast.

In this guide…

Where to find same day personal loans
How to get a quick loan
Can you get fast loans with bad credit?

Where to find same day personal loans

If you need cash quickly, a personal loan may be a good option. Personal loans are lump-sum loans that are repaid in fixed monthly installments over a specified period, usually a few years. Funding can be released to your account the same day you are approved or the next business day, depending on the lender and the date you apply.

The table below shows where you can find a personal loan with same day financing.

4 fast loans with same day financing

Lending platform Interest rate Amount of the loan term of the loan
Alliant Credit Union 6.24% – 10.24% APR $1,000 – $50,000 12 to 60 months
LightStream 4.49% – 19.99% APR $5,000 – $100,000 24 to 144 month
Rocket Loans 7.16% – 29.99% APR $2,000 – $45,000 36 or 60 month
Wells Fargo 5.74% – 24.24% APR $3,000 – $100,000 12 to 84 month
* Annual Percentage Rate (APR) is a measure of your cost of borrowing and includes the interest rate plus other fees. Available APRs may differ depending on your location. The APR may include an automatic payment discount.

1. Alliant Credit Union

What they offer: Loans to credit unions with rapid funding

Alliant Credit Union offers fast personal loans with same-day financing to its members. Loans can be used for virtually anything, from debt consolidation to emergency expenses. No collateral is required and APRs are relatively low starting at 6.24%. Loan eligibility and interest rates are based on creditworthiness, so borrowers with good credit will have the best chance of qualifying for a loan at a fair price.

To borrow a fast loan from Alliant, you must first become a member of the credit union. Alliant bases eligibility on the following criteria:

  • You live or work in an eligible community near Alliant’s Chicago headquarters.
  • You are currently employed or retired from an Alliant partner company or organization.
  • You are the immediate family of a current Alliant member.

If you don’t meet any of these criteria, you can become a member of Foster Care to Success (FC2S), a non-profit organization serving teens in foster care. Alliant will donate $5 to FC2S on your behalf and you will become a member of a credit union.

2. Flow of light

What they offer: Same day loans for great credit

LightStream is an online personal lender that caters to borrowers with good and excellent credit. Estimated APRs are as low as 4.49%, making LightStream one of the most competitive lenders in the market. The application process is quick and borrowers can receive funds in their bank account the same day they are approved.

LightStream does not charge a origination fees, which can be assessed when taking out the loan and can represent up to 8% of the loan amount.

Keep in mind that LightStream is for people with good credit, defined by the FICO scoring model as 670 or higher. Not all borrowers will be eligible for a personal loan through LightStream, and the lender does not allow you to verify your eligibility with a soft credit check like many others do.

3. Rocket Loans

What they offer: Quick Loans Online

As the name suggests, Rocket Loans specializes in issuing loans with super-fast funding. The application process is completely online, including income and identity verification. Eligible borrowers can get pre-approved “in seconds,” according to the Rocket Loans website.

Rocket loans may be a better personal loan option for fair credit borrowers than other lenders and lending markets on this list. Maximum APRs are higher at 29.99%and Rocket Loans charges an origination fee of 1.00% – 6.00% of the loan amount. Loan terms are limited, with 36 or 60 month loan options. However, Rocket Loans does not charge a prepayment fee, so there is no penalty for prepaying your loan.

4. Wells Fargo

What they offer: Bank loans with same day financing

Not all banks offer personal loans, but Wells Fargo does. The bank offers quick access to funds, advertising loans that are often funded the same or next business day. Wells Fargo does not charge set-up fees or prepayment penalty, and terms are flexible with high loan amounts and long loan terms.

Current Wells Fargo customers can benefit from the lowest possible APR because the bank offers a 0.25% APR rebate when you set up automatic payments from your Wells Fargo checking account.

How to get a quick loan

Quick personal loans are available from a number of financial institutions, including banks, credit unions, and online lenders. Do your research to determine which personal lenders offer same-day or next-day financing, like those in the table above. Then follow these steps to apply for a quick loan:

  1. Check your credit score. Personal loans are granted based on the creditworthiness of the borrower, so it is easier to get one if you have good credit. If you have bad or good credit, look for lenders in your credit group or look for alternatives.
  2. Get pre-qualified without a credit check. Many lenders allow prequalification, allowing you check your loan eligibility and potential terms, such as APR, with a soft credit application. It does not affect your credit score.
  3. Compare personal loan offers. If you prequalify with multiple lenders, you can seek the lowest APR possible for your financial situation. Be sure to factor the interest rate, origination fee, loan amount, and loan term into your decision.
  4. Apply for a formal loan. At this stage, you will need to show documents proving your income and your identity. The lender will also carry out a serious credit check, which will temporarily affect your credit score.
  5. Receive your money. If you go through a lender that offers fast personal loan funding, your money can be in your account the same day you are approved.

Can you get fast loans with bad credit?

Since personal loans are unsecured and backed by your promise to repay the lender, eligibility is heavily based on your credit score. This makes it difficult for borrowers with bad credit to qualify, even for a small personal loan.

It may be possible to find a quick personal loan with bad credit from some lenders like OneMain Financial or Upstart, both of which have less stringent eligibility requirements and advertise next day funding.

Still, personal loans can have high interest rates for borrowers with bad credit, so it’s good to consider your alternatives before signing the dotted line. Here are some other ways to get money fast with bad credit:

  • Borrow from a friend or family member: If you need a quick loan without a credit check, you can ask a family member or friend for help. Keep in mind that you risk jeopardizing your relationship if you don’t repay the loan on time.
  • Credit union loans: Joining your local credit union is another option when you need a quick loan. Some credit unions offer alternative payday loans, which are worth up to $2,000 and have repayment terms of up to one year. APRs are capped at 28% and the maximum application fee is $20.
  • Payday advance : If you need some money to get by until your next payday, you can ask your employer if they can offer you an advance on your salary. You can also check out paycheck advance apps like Earnin, which let you borrow money against your next paycheck based on the hours you’ve already worked, all without a credit check.



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