Same Day Online Payday Loans for Those with Poor Credit/ No Credit

During times of struggle financial emergencies can pop up out of nowhere. In times like this, you may find yourself in need of cash. You could apply for a loan through a traditional lender (like a bank or credit union), but the approval process is extremely lengthy and the odds of approval are low. 

If you have low credit or no credit you likely won’t even qualify for the loan at a traditional lender, and the denial could leave a negative mark on your already hurting credit. 

In these situations, a short term loan specifically catered to those with poor credit is a great way to carry you through a financial crisis. Depending on when you apply and which loan you apply to, you may be eligible for same day or next day financing.   

Will I Get My Money The Same Day I Apply for a Payday Loan?

In most scenarios, approved same-day payday loans can be funded by the following business days. Typically, applications must be completed and submitted on a weekday prior to 11:50 am EST  to qualify for same-day funding. 

Those who apply on the weekend or a holiday may be required to wait until the following business day for their funding. 

Are There Limits on How Much I Can Borrow with a Same Day Payday Loan?

Short term loans are intended for emergency needs and come with a higher interest rate (10%-25%). For this reason, it is always recommended to only request the amount you need to cover the emergency expense. 

Loans may be available from as little as $50 all the way to $1,000 depending on your ability to repay. This amount is subject to interest and must be repaid by the following payday, which is often between 2 and 4 weeks. 

What are The Basic Requirements for Same Day Loan Eligibility?

The basic eligibility requirements for a payday loan include the following:

  • Minimum age of 18 years old
  • Proof of US citizenship or permanent residency
  • Ability to prove regular income
  • Access to a valid bank account (checking or savings)
  • Proof of a valid phone number

The requirement of additional information is at the discretion of the lender and is based on your location.

The Basics of Payday Loans

  • Payday loan applications only take minutes to complete
  • The approval process only takes a few minutes
  • Most applicants are eligible for a loan approval
  • Payday lenders don’t check with traditional credit bureaus
  • Loans can be deposited into your account as quickly as the same day
  • Short term loans may be able to help rebuild a poor credit score

The Three Basics Steps to Payday Lending Online:

Finding an online loan can be grueling if you don’t know where to look. The easiest way is by using our quick, online application which can be filled out in just a few minutes. If you need a payday loan, follow these three simple steps:

  1. Complete our online form and provide all the information requested.
  2. Await a loan offer from one of our partnered lenders and accept the offer if it meets your needs.
  3. Once you’ve agreed to a loan and signed all e-agreements and terms, you will receive your funds. They may come the same day, or be deposited the following business day. 

What Time Should I Apply to Get Same-Day or Next-Day Funding?

Many same-day payday loans are paid out on the same day, or the following business day. However, there are certain stipulations for getting your funds as quickly as possible. When applying for your loan, keep the following details in mind:

  • Requests for a loan must be received by 11:50 am EST M-F for same-day funding. 
  • Loan requests received after 11:50 am EST will be funded on the following business day.
  • Loan requests made on weekends and holidays will be addressed on the following business day. 
  • Approval times are not affected by the time of day, only the dispersal of funds. 

Are Same Day Payday Loans Guaranteed?

Payday loan approvals are far more common than standard loans, but standards for the approval process do still exist. Those with current outstanding loans and other large negative marks on their credit may still be denied for a loan. However, the majority of lenders with bad credit or no credit will be approved for a short-term payday loan. 

How is My Same Day Payday Loan Repaid?

The repayment terms for your loan will be discussed during the contract signing phase. Most payday lenders will directly withdraw the repayment amount for the loan (the principal plus interest) from your bank account on the repayment date.

This information can be found in your loan contract. 

Can Payday Loans be Extended if I Can’t Pay On Time?

It is crucial that you ensure the amount for your loan’s repayment is available in your account on the date of withdrawal. If you do run into trouble with the payment, contact your lender as soon as possible. 

Some lenders may allow you more time to pay or discuss other repayment options with you. 

Not contacting your lender can result in loan default and possible negative marks on your credit report. 

Details about repayment issues should be discussed with the loan provider before finalizing your agreement. 

Protect Yourself and Avoid Shady Loan Practices

Those seeking short-term loans are often in desperate situations which can lead them to accepting loans from less-than-reputable institutions. Here are signs that a lender is not trustworthy:

  • They change their interest rates during the contract signing process.
  • There are hidden fees written into the contract. 
  • The lender does not offer transparent information regarding repayment terms, contact information, interest rates, etc. 

The lenders found through our online form are reputable, trustworthy, and transparent in all their lending practices. 

Same Day Payday Loans Frequently Asked Questions

How can I get my money today?

Applying for a loan through our online form and completing your documents before 11:50 am EST makes you eligible for same-day funds. 

How can I get approved for a loan with bad credit?

Short term loans (like a payday loan) are the best option for those with bad credit as they do not look at traditional credit bureau reports when making their approval decision. 

How can I get emergency money, quickly?

Same-day loans are the fastest solution for those needing money in an emergency. Filling out the form on our site can get you instant approval to a same-day lender.