Unexpected expenses can arise anytime, leaving many in need of quick and easy access to cash. However, finding the right loan can be difficult. That's why we've hand-picked the top 7 online payday loan companies.
When selecting these lenders, we considered factors such as loan amounts, fees, and the application process, as well as each company's overall reputation and customer satisfaction. These lenders have been thoroughly vetted to ensure that they offer a safe and secure way for you to get the cash you need and fast.
The top 7 online payday loan providers are as follows:
CashUSA - Best Online Payday Loans Overall
BadCreditLoans - Best for Bad Credit Borrowers
PersonalLoans - Best for Personal Loans
Lendfy - Best for Same-Day Approval
AdvanceAfy - Best Short-Term Loan Options
MoneyMutual - Best for Cash Advances
CitrusLoans - Best for Fast Approvals
7 Best $255 Payday Loans Online
CashUSA - Best Online Payday Loans Overall
Ranking: 4.9/5
CashUSA works with trustworthy lenders, helping borrowers find payday loans with convenient repayment periods. Over the years, the platform has established itself as a reliable source to get financial assistance and find quick access to cash. Overall, CashUSA partners with various lenders to broaden the scope of services available through the site.
Pros
Good customer support
No hard credit checks
Multiple lenders are available
Free service
Safe and secure site
Cons
While CashUSA works with a trusted network of lenders that offer payday loans, the site is not considered a direct lender
Key Features
Flexible APRs: While APRs on CashUSA vary by lender, most charge around 5.99%–35.99%. It's important to remember that CashUSA is a digital lending platform connecting borrowers and lenders. It is not a direct lender and therefore does not set APRs for borrowers.
Reasonable Loan Amounts: Many lenders within CashUSA's network offer same-day payday loans ranging from $500 to $10,000 and electronically transfer the money into your account within a few business days.
Secure Site: CashUSA keeps all your information safe and secure using the most advanced encryption technology. The site also runs daily tests to ensure its system is functioning smoothly.
Requirements
To qualify for a payday loan on CashUSA, you must:
Be at least 18 years old.
Be a US citizen or permanent resident.
Have a monthly after-tax income of at least $1,000.
Have a bank account in your name.
Provide a valid email address and phone number.
Application Process
CashUSA has a safe and straightforward loan application process. Its simple online form can be completed in just a few minutes, and if you are approved, you may get your money as soon as the next business day.
To apply for a payday loan on CashUSA, follow the steps below:
Complete the online application for a payday loan.
Receive an offer from a payday loan lender.
Read the loan agreement sent by the lender.
Accept the loan offer.
Provide the lender with your bank account information so your money can be deposited ASAP.
It's as simple as that.
Bad Credit Loans - Best for Bad Credit Borrowers
Ranking: 4.8/5
A borrower's credit history and score will often determine whether or not a loan is approved. Bad Credit Loans is an excellent site to find payday loans if you have low credit and were turned down by a traditional bank because of the minimum credit score requirements.
Pros
Trustworthy online loan platform
Exceptional customer service
Fast approvals
Cons
Borrowers with bad credit scores often receive higher interest rates
>> See Bad Credit Loans offers
Key Features
Multiple Loan Options: BadCreditLoans has your back if your loan application is denied by direct lenders. Their goal is to assist you in obtaining funds as quickly as possible, so the site will recommend numerous loan options that would be a good fit for you.
Encryption Technology: BadCreditLoans uses modern encryption technology, so the website is safe to use. You don't have to worry about providing your bank account details and personal information on the website. All of that information is secure.
User-Friendly Website: The site is not only secure but also user-friendly. It is very easy to apply for a payday loan and connect with direct lenders on BadCreditLoans. You simply need to complete a quick online form to get started.
Requirements
Borrowers with low credit scores may still be eligible for a loan through BadCreditLoans if the following qualifications are met:
You must be at least 18 years or older.
You must be a U.S. citizen or permanent resident.
You must have a reliable source of income, such as a regular salary from an employer, self-employed income, or government benefits like disability or SSI.
You must have an active bank account.
You must provide your phone number and email address.
Application Process
BadCreditLoans has a simple loan application process that makes it very easy to find a lender and get the money you need. When you fill out an online application, the site will share it with its extensive network of reputable lenders.
These lenders can then send you loan offers that outline their specific terms and conditions, including the interest rate, repayment period, fees and penalties, loan amount, etc. Once approved, the funds may be deposited into your bank account within one business day.
Personal Loans - Best for Personal Loans
Ranking: 4.9/5
Personal Loans is one of the best sites for finding personal loans in the online lending industry. It's important to note that PersonalLoans is not a direct lender. Instead, it connects those in need of payday loans with lenders who can provide them.
Pros
Loan amounts up to $35,000
Flexible monthly payments
Free service with no fees
Cons
Not a direct lender
>> See Personal Loans Offers
Key Features
OLA Member: PersonalLoans is a member of the Online Lenders Alliance (OLA). As such, the site abides by a strict Code of Conduct and set of guidelines to ensure its visitors are treated fairly. You can be assured that PersonalLoans meets industry standards and safeguards customer data.
Flexible Loan Terms: PersonalLoans works with an extensive group of lenders that offer flexible loan terms. You can easily compare interest rates, loan amounts, and repayment periods from different lenders to ensure you're getting the best deal possible.
Same-Day Loan Approval: PersonalLoans is a leading online marketplace for same-day loans. If you need money quickly, applying for a short-term or payday loan will help streamline the approval process.
Requirements
You must meet the following conditions to apply for a payday loan through PersonalLoans:
Must be at least 18 years old.
Have a reliable source of income.
Have a valid form of identification.
Have an active checking account.
Application Process
The application process is quick and easy at PersonalLoans. You just need to fill out the online form, and they will match you with lenders in their network who provide payday loans. After you accept an offer and the deal is finalized, the money may be deposited in your account the next day.
Lendfy - Best for Same-Day Approval
Ranking: 4.7/5
Lendfy is an online payday loan marketplace that provides consumers with access to multiple lenders through one simple application. The site allows you to apply for a loan without waiting in line or scanning documents, as is the case with loan applications at most traditional banks.
Pros
Easy online application
No hidden fees when applying for a loan
Online same-day approval
Cons
There may be penalties for late payments or insufficient funds
Key Features
Fast, Easy, and Secure Online Form: Lendfy's loan request form is quick and easy. They only request the basic information needed to be considered for a loan. Their network of lenders will receive your application once you submit it.
Flexible Loan Amounts: Lendfy provides personal loans ranging between $100 and $10,000. It's a good idea first to assess how much money you need and your ability to repay the loan before applying for it.
Personal Loan Offers with No Obligation: After you fill out the form, you may be put in touch with a lender within minutes. You can review the terms and conditions of the loan before you agree to them. And if you don't like the offer, you don't have to take it. These are personal loans with no obligation to accept.
Requirements
Borrowers must meet specific criteria to qualify for short-term loans at Lendfy.
You must be at least 18 years old
You must be a citizen or permanent resident of the United States.
You must be reachable by phone and email.
You must have a regular source of income.
You must maintain a valid bank account (i.e., an active checking account or savings account).
Application Process
You can easily fill out and submit a loan application on the Lendfy app. You will then be contacted by lenders that are interested in working with you.
Once you find a personal loan that meets your needs, you can sign the loan agreement and receive the funds within one working day.
Advanceafy - Best Short-Term Loan Options
Ranking: 4.8/5
Advanceafy is an online lending marketplace that makes it easy to find and obtain a loan, even if you have a poor credit score. This site streamlines the loan application process so you can have the money you need in as little as one business day.
Pros
Accelerated lending process
Works with numerous payday lenders
Helps borrowers with bad credit scores
Cons
Not many online reviews
Key Features
High Maximum Loan Amount- One of the advantages of this payday loan company is that they offer high maximum loan amounts. This means that you can borrow a more significant sum of money, which can be helpful if you have a larger expense or financial emergency.
Flexible APR- Advanceafy works with payday loan lenders that offer flexible APRs, low fees, and high loan amounts.
Automatic Payments- Monthly payments are typically scheduled to be automatically withdrawn from your bank account to reduce the risk of late payments. Still, make sure you're familiar with the payment dates and other repayment details.
Requirements
To qualify for a payday loan on Advanceafy, you must:
Be at least 18 years old.
Have U.S. citizenship or permanent resident status.
Have a reliable source of income.
Have access to an active bank account for making payments and receiving deposits.
Have an active phone number and email address.
Application Process
Advanceafy's application process is far more straightforward than a traditional bank or credit union. First, you will need to gather and provide your financial information, such as pay stubs, tax returns, and bank statements. Then, you can fill out a loan application, which may be done entirely online.
Lenders will review the application and make a decision. You should review any, and all loan offers and decide whether to accept based on the terms and conditions of the loan. Once you have signed a loan agreement, the lender will immediately disburse the funds into your account.
MoneyMutual - Best for Cash Advances
Ranking: 4.8/5
MoneyMutual is a financial services company that makes it easy to find short-term payday loans and cash advance lenders. This online platform has simplified, customized, and redefined the qualifications needed to borrow money. For example, even those with poor credit scores can apply and get approved for a payday loan. MoneyMutual can help you get through an unexpected expense or financial emergency.
Pros
Simple loan application process
Safe and secure website
Vast network of verified lenders who offer payday loans online
Cons
Interest rates depend on which lenders reach out to you
Key Features
Simplified Lending Process: MoneyMutual has a simple application process that allows anyone to apply for a payday loan right from their home. Once you complete the online form, lenders will review your application and decide whether to make an offer within minutes.
Excellent Customer Service: MoneyMutual is a company that truly values its customers. The site offers highly trained and competent support staff available to assist you with any questions or concerns.
Fast Funding: Once you accept a payday loan, you can get the money in as little as 24 hours. Most lenders on MoneyMutual offer direct deposit so you can quickly cover an emergency expense or unexpected bill.
Requirements
MoneyMutual's loan eligibility requirements are as follows:
You must be at least 18 years or older.
You must be a U.S. citizen or permanent resident.
You must have a reliable source of income.
You must have an active bank account.
You must provide your phone number and email address.
Application Process
MoneyMutual makes it easy to apply for a loan even if you have bad credit. You must fill out a simple online application form and provide any necessary personal or financial information.
After you complete your application, MoneyMutual puts you in touch with lenders who can help. You can then choose a lender based on who gives you the best payday loan with the lowest interest rate and the most flexible options for how to pay it back. Finally, the money is sent to your bank account within 24 hours.
CitrusLoans - Best for Fast Approvals
Ranking: 4.7/5
If you need emergency cash, CitrusLoans can help. The site allows you to compare online payday loans from multiple lenders, helping you find the one with the best interest rate and repayment terms.
Pros
Convenient loan application process
No hidden fees
Fast funding
Cons
Loan terms and conditions vary by lender
Key Features
Easy Loan Applications: To apply for a loan via CitrusLoans, all you need to do is fill out a short online loan request form. It should only take a few minutes to complete.
Responsible Lending: CitrusLoans is an Online Lenders Alliance (OLA) member. The company is committed to responsible lending practices and treating people fairly.
Payday Loans and Cash Advances: CitrusLoans works with many lenders that provide payday loans and cash advances. These are great options if you need emergency cash.
Requirements
To apply for a loan on CitrusLoans, the borrower must:
Be over the age of 18.
Have a steady source of income.
Be a citizen of the United States or a permanent resident.
Possess and provide a government-issued ID.
Have an active bank account, email address, and phone
number.
Application Process
A loan application can be submitted from any device due to CitrusLoans's secure, efficient, and reliable site. The approval process is expedited, and the funds can be placed into your account within one business day.
How We Chose The Best $255 Payday Loans
The best online loans were selected based on several factors, including:
Privacy and Security: We only considered sites that keep your personal and financial information secure with SSL encryption. Each website clearly states its privacy policy and what data is collected, how it's used, and who it's shared with.
Fast Funding: If you are facing a financial emergency, any delays in the loan application process are infuriating. The companies in this article are among the best regarding small payday loans for individuals who need money quickly. They each deposit loan funds into your bank account within a few business days.
Reputation: The most important deciding factor for payday lending organizations is reputation. We considered customer reviews and online ratings.
APR Rates: The annual percentage rate (APR) is crucial when looking for a loan. A loan with a lower APR can save you a lot of money in the long run. Therefore, we only choose companies that offer flexible APRs depending on your needs and qualifications.
Credit Checks: Most of the companies on our list will not conduct a hard credit check when you apply. When determining whether or not you are eligible for a loan, some online payday loan lenders will not base their decision on your credit alone. They may consider other factors, such as employment status and education history.
Main Requirements for Getting a Same Day Payday Loan
The requirements for getting a same-day payday loan vary by lender but generally include the following:
You must be at least 18 years old.
You must have a steady source of income to show that you can repay the loan.
You must be a legal resident of the United States.
You must have an active bank account to receive funds and to make loan payments.
You must provide proof of identity, such as a driver's license or other government-issued ID.
You must have a valid phone number and email address.
What to Pay Attention to When Getting a Same Day Loan
Here are a few things to pay attention to when getting a same-day loan:
Payment: You will likely be required to make a monthly payment to the lender for the duration of the loan term. This payment includes the principal amount of the loan and interest. Make sure that you can afford to make these monthly payments and pay off the loan. If you start missing payments, the interest charges will add up quickly.
Read the Terms & Conditions: By thoroughly reading and understanding the terms and conditions of the loan, you can ensure that you know exactly what you're agreeing to. This includes the interest rate, repayment period, and any fees or penalties associated with the loan.
Researching Other Opportunities: It's best to compare loan offers from multiple lenders to ensure you're getting the best deal. Oftentimes, lenders offer different rates and terms. This gives you a chance to find the option that best suits you.
Eligibility Requirements: Know the criteria required in order to be approved for the loan, such as income, credit score, employment status, etc.
Best Online Payday Loans FAQs
What Is The Minimum Credit Score For a Same Day Payday Loan?
The minimum credit score for same-day payday loans varies by lender, but many offer options to bad credit borrowers.
Can I Apply Online for a Same-Day $255 Payday Loan With Bad Credit?
Yes, you can apply online for a same-day $255 payday loan with bad credit. You can use one of the companies listed above to get an emergency payday loan even if your credit score is low.
Does It Take Long For My Payday Loan To Be Approved?
It does not take long for payday loans to be approved. In fact, many lenders will approve your application shortly after you submit it and deposit funds into your account within a few business days.
Important Disclosures: This website does not constitute an offer or solicitation to lend. The operator of this website is NOT A LENDER, does not make loan or credit decisions, and does not broker loans. The operator of this website is not an agent or representative of any lender. We are a lead generator. This website's aim is to provide lenders with information about prospective consumer borrowers. We are compensated by lenders for this service.
Information about loans: Not all lenders can provide loan amounts up to the maximum that is advertised. The maximum amount you may borrow from any lender is determined by the lender based on its own policies, which can vary, and on your creditworthiness. The time to receive loan proceeds varies among lenders, and in some circumstances faxing of loan request form materials and other documents may be required. Submitting your information online does not guarantee that you will be approved for a loan.
Every lender has its own terms and conditions and renewal policy, which may differ from lender to lender. You should review your lender's terms and renewal policy before signing the loan agreement. Late payments of loans may result in additional fees or collection activities, or both.
By using this website or services, you represent and warrant that you are at least 18 years old, that you are a resident of the United States, and that you are not a resident of any state where the loan you are applying for is illegal.