Fast loans

Need a fast loan?

When a car breaks down or a bill lands early, waiting is not always an option. Many online lenders move faster than a bank, but speed depends on the lender, your bank and how quickly you can verify your details.

What affects how fast a loan arrives

• The application. Online forms often take a few minutes, but a lender may ask for documents.
• The decision. Some lenders answer quickly, while others review requests by hand.
• Your bank. Transfers can take one business day or longer, and weekends and holidays add time.

What to check before you accept a fast loan

• The APR. It shows the yearly cost, including many fees, so you can compare loans.
• The total you will repay. A small payment can hide a large total.
• The payment dates. Make sure they land after payday.
• Fees and penalties. Ask about origination, late and rollover fees.
• The lender. Check that it is licensed in your state, or understand why it is not.

Fast loan alternatives worth a look

Before you borrow, ask whether a payment plan with the company you owe, a credit union loan or an advance from your employer could cover the gap. If you do borrow, only take what you need and have a plan to repay it. Our free budget calculators can help.