Best Small Personal Loans With Fast Approval
- APR: 5.99-35.99%
- Loan Term: 3-72 months
- Min Credit Score: 300
- 5K Funds makes it easy to get rates and start comparing terms from multiple lenders.
- 5K Funds has an extensive network of reputable lenders.
- Borrowers have the freedom to use a personal loan in a number of ways.
Read 5K Funds Review »
5kFunds.com (the “website”) is not an offer or solicitation to lend. The website only provides a service and is not an agent, representative, or broker of any lender and does not endorse or charge you for any loan or product. The website operators are not lenders, do not make loans of any type, and do not make credit decisions. The website collects personal information provided by you and forwards it to partners in our lender network. You are under no obligation to use this website or service to initiate, contact, nor apply for credit or any loan product with any service provider or lender. Loan amounts vary from $1,000 and $35,000 but not all lenders can provide up to $35,000. Providing your information on the website does not guarantee you will be approved for a loan or credit product. Cash transfer times may vary between lenders and may depend on your individual financial institution. In some circumstances faxing may be required. If you have any questions, contact your lender directly for details, questions, or concerns regarding your loan or credit product. Short-term cash loans are meant to provide you with short-term financing to solve immediate cash needs and should not be considered a long-term solution. This service and lenders are not available in all states. Lenders may perform credit checks with the three credit reporting bureaus: Experian, Equifax, or Trans Union or may perform alternative credit checks or consumer reports through alternative providers. By submitting your request, you acknowledge, agree, and authorize that (a) your information may be sent to lenders and/or third-party partners on your behalf, and (b) such lenders may obtain consumer reports and related information about you from one or more consumer reporting agencies, such as TransUnion, Experian and Equifax to evaluate your creditworthiness. Loan products have a 3 months minimum repayment term. Loan example: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07 to a total of $10,565.2
- APR: 5.40-35.99%
- Loan Term: 24-84 months
- Min Credit Score: 600
- Free-to-use marketplace with a choice of vetted lending partners.
- Borrowers are in control and can compare competitive loan options.
- No prepayment fees and origination fees as low as 0%
Read Credible Review »
Credible Disclaimer: “Personal Loans Rate and Terms Disclosure: Rates for personal loans provided by lenders on the Credible platform range between 5.40%-35.99% APR with terms from 24 to 84 months. Rates presented include lender discounts for enrolling in autopay and loyalty programs, where applicable. Actual rates may be different from the rates advertised and/or shown and will be based on the lender’s eligibility criteria, which include factors such as credit score, loan amount, loan term, credit usage and history, and vary based on loan purpose. The lowest rates available typically require excellent credit, and for some lenders, may be reserved for specific loan purposes and/or shorter loan terms. The origination fee charged by the lenders on our platform ranges from 0% to 8%. Each lender has their own qualification criteria with respect to their autopay and loyalty discounts (e.g., some lenders require the borrower to elect autopay prior to loan funding in order to qualify for the autopay discount). All rates are determined by the lender and must be agreed upon between the borrower and the borrower’s chosen lender. For a loan of $10,000 with a three year repayment period, an interest rate of 7.99%, a $350 origination fee and an APR of 11.51%, the borrower will receive $9,650 at the time of loan funding and will make 36 monthly payments of $313.32. Assuming all on-time payments, and full performance of all terms and conditions of the loan contract and any discount programs enrolled in included in the APR/interest rate throughout the life of the loan, the borrower will pay a total of $11,279.43. As of March 12, 2019, none of the lenders on our platform require a down payment nor do they charge any prepayment penalties.”
- APR: 5.99-35.99%
- Loan Term: 3-180 months
- Min Credit Score: 550
- The nation’s largest online lending marketplace
- Over $260 billion in loans facilitated
- One short form for multiple loan options
Read LendingTree Review »
LendingTree Disclaimer: A Personal Loan can offer funds relatively quickly once you qualify you could have your funds within a few days to a week. A loan can be fixed for a term and rate or variable with fluctuating amount due and rate assessed, be sure to speak with your loan officer about the actual term and rate you may qualify for based on your credit history and ability to repay the loan. A personal loan can assist in paying off high-interest rate balances with one fixed term payment, so it is important that you try to obtain a fixed term and rate if your goal is to reduce your debt. Some lenders may require that you have an account with them already and for a prescribed period of time in order to qualify for better rates on their personal loan products. Lenders may charge an origination fee generally around 1% of the amount sought. Be sure to ask about all fees, costs and terms associated with each loan product. Loan amounts of $1,000 up to $50,000 are available through participating lenders; however, your state, credit history, credit score, personal financial situation, and lender underwriting criteria can impact the amount, fees, terms and rates offered. Ask your loan officer for details. Rates and APR assume fixed rate for the term of the loan may not be available for all consumers, ask your lender for a fixed rate quote. Loan Example: A $10,000 loan with a 5-year term at 13% Annual Percentage Rate (APR) would be repayable in 60 monthly installments of $228 each. The actual payment amount and year-end balance will vary based on the APR, loan amount, and term selected. In this case the total amount expected to pay by the borrower will be $13,680 *This examples are for illustrative purposes only. The examples and match rates are not a guarantee, agreement, or commitment to loan funds or extend credit. Interest rates and terms are subject to change at any time without notice.
- APR: 6.24-35.99%
- Loan Term: 6-144 months
- Min Credit Score: 550
- Borrowers can find a personal loan option that fits their exact needs
- Offers a comprehensive knowledge hub
- Simple to use online loan comparison tool
Read Bankrate Review »
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers’ terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.
- APR: 2.49-35.99%
- Loan Term: 24-84 months
- Min Credit Score: 300
- Experience a secure application process without having to enter your SSN.
- Get matched to lenders based on your profile & loan needs for FREE.
- Our service will not impact your credit score.
Read AmOne Review »
Am0ne Disclaimer: “AmOne is not a loan provider; we seek to match you to partners that may extend a loan or other services to you. All loan approval decisions and terms are determined by the loan providers at the time of your application with them. There is no guarantee that you will be approved for a loan or that you will qualify for the rates displayed. The offers and rates presented on this website are estimates based on information you submit to us. Your actual rates depend on your credit history, income, loan terms and other factors. Reasonable efforts are made to compile and maintain accurate information. However all loan rates and terms, including APRs, are presented without warranty and are subject to change by the loan providers without notice.”
- APR: 5.99-35.99%
- Loan Term: 3-72 months
- Min Credit Score: 300
- See loan offers from over 100 lenders
- Loans available for any type of credit
- Fees depend on specific lender
Read LoansUnder36 Review »
loansunder36 Disclaimer: “loansunder36.com (the “website”) is not an offer or solicitation to lend. The website only provides a service and is not an agent, representative, or broker of any lender and does not endorse or charge you for any loan or product. The website operators are not lenders, do not make loans of any type, and do not make credit decisions. The website collects personal information provided by you and forwards it to partners in our lender network. You are under no obligation to use this website or service to initiate, contact, nor apply for credit or any loan product with any service provider or lender. Loan amounts vary from $500 and $35,000 but not all lenders can provide up to $35,000. Providing your information on the website does not guarantee you will be approved for a loan or credit product. Cash transfer times may vary between lenders and may depend on your individual financial institution. In some circumstances faxing may be required. If you have any questions, contact your lender directly for details, questions, or concerns regarding your loan or credit product. Short-term cash loans are meant to provide you with short-term financing to solve immediate cash needs and should not be considered a long-term solution. This service and lenders are not available in all states. Lenders may perform credit checks with the three credit reporting bureaus: Experian, Equifax, or Trans Union or may perform alternative credit checks or consumer reports through alternative providers. By submitting your request, you acknowledge, agree, and authorize that (a) your information may be sent to lenders and/or third-party partners on your behalf, and (b) such lenders may obtain consumer reports and related information about you from one or more consumer reporting agencies, such as TransUnion, Experian and Equifax to evaluate your creditworthiness. Loan products have a 3 months minimum repayment term. Loan example: A $6,000 loan with a 24.99% APR that is repayable in 60 monthly installments would have monthly payments of $176.07 to a total of $10,565.2″
- APR: 8.05-35.89%
- Loan Term: 36-60 months
- Min Credit Score: 600
- One of the largest P2P lending partners & investing companies
- 15-day grace period for late fees
- Apply in just minutes and receive competitive offers
Read LendingClub Review »
Disclaimer: A representative example of loan payment terms is as follows: you receive a loan of $13,411 for a term of 36 months, with an interest rate of 12.16% and a 5.30% origination fee of $711, for an APR of 15.99%. In this example, you will receive $12,700 and will make 36 monthly payments of $446.46. Loan amounts range from $1,000 to $40,000 and loan term lengths are 36 months or 60 months. Some amounts and term lengths may be unavailable in certain states. APR ranges from 8.05% to 35.89% and is determined at the time of application. Origination fee ranges from 3% to 6% of the loan amount. Lowest APR is available to borrowers with excellent credit. Advertised rates are subject to change without notice. Loans are made by LendingClub Bank, N.A., Member FDIC, Equal Housing Lender (“LendingClub Bank”), a wholly-owned subsidiary of LendingClub Corporation, NMLS ID 167439. LendingClub Bank is not an affiliate of [PARNTER LEGAL NAME] and is not responsible for the products and services provided by [PARNTER NICKNAME]. Loans are subject to credit approval and sufficient investor commitment before they can be funded or issued. Certain information that LendingClub Bank subsequently obtains as part of the application process (including but not limited to information in your consumer report, your income, the loan amount that your request, the purpose of your loan, and qualifying debt) will be considered and could affect your ability to obtain a loan. Loan closing is contingent on accepting all required agreements and disclosures at Lendingclub.com. “LendingClub” is a trademark of LendingClub Bank.
What is a Small Loan?
A small personal loan is a short-term, unsecured personal loan that usually ranges from $1,000 to $25,000. The interest rates are usually higher than a conventional loan, but the process is much quicker. The application process can take as little as 15 minutes, and funds will be available in as little as 24 hours.
Top Considerations When Comparing Small Loans for Quick and Easy Funding
When comparing small or mini loans, several important factors must be considered. These include:
- Interest rates: Compare different lenders’ interest rates for small personal, mini, and other small loans to find the most competitive rates.
- Fees: Look for hidden fees that could impact the overall cost of the loan, especially for small loans where fees can make a big impact.
- Repayment terms: Consider the length of the loan term and the repayment schedule that will work best for your financial situation, as some small loans may require short repayment terms.
- Loan amount: Make sure the loan amount offered is sufficient to meet your needs for small expenses or emergencies.
- Eligibility requirements: Check the lender’s eligibility requirements to ensure you meet the minimum criteria for micro loans.
- Speed of approval: Consider how fast the small loan can be approved and the funds can be disbursed, as cash loans are often used for urgent needs.
- Customer service: Look for a lender with high-quality customer service, as you may need support throughout the process for small loans.
- Credibility: Check the lender’s reputation and credibility by reading customer reviews and assessing their online presence, especially for small loans where trust is important.
- Prepayment penalties: Check if the lender charges prepayment penalties for early repayment of emergency loans, as some lenders may not allow early repayment without a penalty.
How to Compare Small Loans Online
When comparing small loans online, it is necessary to consider interest rates and fees. There are many different types of loans available for small personal loans. Some lenders will offer a fixed-rate loan, while others may offer an adjustable or variable-rate loan.
When comparing small loans online, you should also consider other factors such as:
- The terms of the loan
- The length of the loan term
- The type of collateral required for the loan
If you are looking for the best rates, there are a few things that you should know before applying. Make sure you know your credit score because this will affect which loan companies will approve your application.
It’s also vital to find out what type of loan will work best for your situation. Different types of loans are available, like unsecured and secured loans. Unsecured loans are riskier than secured loans, but they can offer lower interest rates and increased flexibility in repayment options. Secured loans guarantee your repayment but may have higher interest rates and stricter terms on borrowing money or paying it back over time.
Pros and Cons of Small Loans:
Small loans can be a great option for borrowers who need quick access to cash for unexpected expenses or emergencies. However, like any financial product, there are pros and cons. Here are some of the key advantages and disadvantages of small loans:
- Quick access to funds: Small loans can often be approved and disbursed quickly, providing fast access to the funds you need.
- Flexible repayment terms: Some small loans offer flexible repayment terms, allowing you to repay the loan over a longer period of time or in smaller installments.
- No collateral required: Most small loans are unsecured, meaning you don’t need to provide collateral like a car or house to secure the loan.
- Improve credit score: Successfully repaying a small loan can help improve your credit score by demonstrating responsible borrowing behavior.
- Higher interest rates: Small loans often come with higher interest rates than larger loans, which can make them more expensive in the long run.
- Fees and charges: Small loans may also come with fees and charges, such as origination fees or prepayment penalties, that can add to the overall cost of the loan.
- Limited loan amounts: Small loans typically have lower loan limits than larger loans, which may not be enough to cover your financial needs.
- Potential for a debt: If you cannot repay the small loan on time, you may fall into a debt trap and face additional fees, interest, and damage to your credit score.
Overall, small loans can be an effective tool for managing unexpected expenses or emergencies. However, it’s important to carefully consider the pros and cons and choose a loan that fits your financial needs and budget.