Best 10 Cash Loan Providers Compared for 2019

Marcus is an online lending platform by Goldman Sachs that specializes in offering personal cash loans to good credit borrowers. Here, you can apply for a loan of between $3,500 and $40,000 with repayment periods of between 3 and 6 years. Marcus charges a fixed interest on the cash loan with the rates ranging from 5.99% to 28.99% per annum depending on such factors as your credit score, approved loan amounts, and repayment duration. The loan application is wholly online and is available to virtually every permanent resident in the USA. You, however, must be above the majority age, have an active bank account, and score over 670 points on the FICO credit rating. Interestingly, loan application and processing here is free as Marcus doesn’t charge origination fees.

Prosper, a pioneer peer-to-peer lending marketplace – is also offering unsecured cash loans of between $2,000 and $40,000 with repayment periods of between 3 and 5 years. One may consider their loan approval process relatively fast as they promise to debit your checking account with the requested amounts within 3 days of applying. Interest starts from 6.95% and extends to 35.99% depending on your creditworthiness. One of the most interesting factors about Prosper cash loans is that you have a higher chance of accessing funds here than with most other online lending sites. This is premised on the fact that Prosper presents your loan application to thousands of online lenders, and most are willing to consider poor credit borrowers with 640 points in minimum ratings.

Lending Club is a legacy peer to peer lending platform that advances unsecured cash loans of between $1,000 and $40,000 to their members. The lender appeals most to individuals with good credit with the minimum score for applying for a cash loan here set at 600+ points. Lending Club has nonetheless launched a loan feature with a co-sign option that caters for borrowers with lower credit scores. This is a joint cash loan application where one of the co-signatories has a credit score of 600+ and the other 540+ with their debt-to-income ratio set at below 35%. Like most other P2P lenders, Lending Club presents your loan application to different lenders and this increases your chances of landing friendly loan terms. If approved, you will have the funds deposited into your checking account within three days and between 3 and 5 years to repay the loan. Interests start from 6.95% to 35.89%.

You will like LightStream and their cash loan services if you are looking for a lender with the highest maximum loan limits and some of the friendliest interest rates. The direct lender and the online arm of SunTrust bank will advance you between $5,000 and $100,000 with repayment periods of between 2 and 7 years. The lender is also famed for their straightforward online loan application process and fast approval and cash deposit into your checking account – as fast as same day approval and account funding. But you must have a minimum credit score of 680 and annual personal income or business revenue of above $100,000 to qualify for a loan with the lender. Interest rates range from 3.99% to 16.99% if you chose the autopay option during loan application. Your actual rate will nonetheless be dependent on the type of cash loan applied, your income levels, credit score, the amount applied for, and your preferred loan repayment periods.

CashnetUSA is an online direct lender and a leading cash loan processor that avails cash loans within minutes of allocation. These are payday loans that have to be paid during the next payday with the maximum loan term capped at 35 days. Here, you can apply between $100 and $1,500 depending on your states cash loan regulations with the loan fees ranging $15 to $375. To qualify for the CashnetUSA cash loan, you need to be an American resident above the age of majority, have an active bank and account and earn a regular monthly income of not less than $1,000. Some of the interesting features about the lender are that they will consider your loan application even if you are not in formal employment after proving the ability to repay the loan. More importantly, the lender considers more than your credit score in assessing your creditworthiness making it ideal for poor and bad credit borrowers.

Speedy Cash is an online direct lender operating in 24 states across the country. Here, you can borrow from $100 and up to $5,000 depending on cash loans applicable in your state of residence. The loan application process if purely online and the lender promises to deposit these funds to your checking account on the next day if approved. The loan repayment period is also dependent on your residence. And so are the loan interest rates that are subjected to the state laws on cash loan interest maximums but usually range from 176.61% to 729.82% APR. Some of the Speedy cash loan features that you will probably like include the fact that they don’t check your credit scores and are welcoming to poor and bad credit borrowers.

SoFi cash loans are most ideal for good credit borrowers seeking access to significant loan amounts with the lowest interest rates but no collateral to secure these loans. Here, you can apply between $5,000 and $100,000 with flexed loan repayment periods of between 2 and 7 years. You are also exposed to friendly interest rates of between 5.99% and 17.66% or the discounted rate of between 5.74% and 14.70% if you chose autopay during loan application. You will be interested to note that SoFi doesn’t impose such additional loan costs as origination or closing fees. The interest rates offered are largely dependent on your creditworthiness and you have the option of settling for a fixed or variable interest rate. Plus they recently launched the co-applicant program that lets you increase your chances of getting your loan approved when you apply for a joint loan.

If you have a credit score of above 660 points and an annual income of $25,000+, you have high chances of qualifying for a cash loan with Discover. These plus other creditworthiness assessment requirements will earn you a chance to apply between $2,500 and $35,000 with flexible repayment periods of between 3 and 7 years. The loan will attract annual interest in the range of 6.99% and 24.99% depending on your creditworthiness, and the preferred repayment period. But you can negotiate for a discount if you choose the autopay option during loan application. Other unique features of Discover cash loans is that they don’t attract closing or origination fees. Missed payments are however subjected to a fixed penalty of $39.

Earnest is most ideal for borrowers with a good credit score and a solid source of consistent incomes but not enough assets to serve as collateral. With a credit score of 680+ and proof of consistent income and timely-payment of your previous loans, you can qualify for a loan of between $5,000 and $75,000. The loan processing, approval, and funding may take up to a week after which you will be expected to make monthly repayments for the cash loan in between 3 and 5 years. Interests for such approved loan would range from 6.99% to 17.24% per annum.

Upstart is willing to advance you a cash loan of between $1,000 and $50,000 with repayment periods of between 3 and 5 years if you meet their basic qualification requirements. These include posting a minimum credit score of 620+, reporting an annual income of $12,000+ and having a maximum debt-to-income ratio of no more than 45%. And if approved, you will pay interest rates of between 7.69% and 35.99% for the loan. You also get to benefit from the lender’s relatively fast loan application processing and approval time – as fast as same or next day funding.