What Is the Easiest Same-Day Loan to Get Approved For

Surprise emergencies, such as medical or unplanned travel expenses, typically happen to most of us, requiring quick cash to fix them. The real dilemma is when you have a bad credit score; a traditional lender won’t even look at your application. A same day loan will get you the cash you need.

These loans can offer you money immediately, usually within 24 hours of applying, though at a higher interest rate. And some of the easiest same-day loans to get approved for include:

No Credit Check Loans

These loans are typically easiest to get approved for because they do not perform the time-consuming hard FICO score credit check on an applicant. The lenders usually grant them without comprehensively reviewing an applicant’s credit history. Note that no credit check here implies soft checks where the lender typically evaluates a borrower’s employment status, education background, income, and bank account history.

They are your perfect option if you have a poor credit history but require instant money. However, it comes with many risks, especially when you fail to repay your debt. Click here to access as much as $ 5000 through UnityLoan.

Fast Cash Loans

They are generally offered in small amounts, usually 500, although some online lenders may provide more. Their repayment period is also short, typically within two weeks after borrowing. They also have high-interest rates.

They feature instant funding, meaning they are exactly what you need if you run out of funds but you need money quickly.

Payday Loans

Your income will determine how much of a payday loan you can access. To apply for one, you need to provide a pay stub. These loans may not require collateral or even consider your ability to pay. Because of that, they come with exorbitantly high-interest rates – with Annual Percentage Rates (APRs) as high as 780% and their average at nearly 400%.

Please shop around for lenders that charge competitively low rates. You can rely on credit brokers such as UnityLoan for this type of same day loan.

Bad Credit Loans

These types typically come with fixed rates and can be secured or unsecured. Their lenders are willing to offer them to borrowers with low credit scores. These lenders focus more on their borrowers’ repayment ability than their credit score.

Please note that what is considered a creditworthy borrower usually varies by lender. As a result, some lenders may come with stricter loan terms or conditions than others. You could shop around for ones with favorable loan terms.

But First, Are Same Day Loans Safe?

Same day loans are legitimate and are legal in 37 US states. The most popular legal states are California, Texas, Nevada, Colorado, Alabama, and Ohio, to name a few. States that forbid these loans include New York, West Virginia, and Georgia. Others, including Montana, South Dakota, and Colorado, have set caps on interest rates and critical legislation to avoid predatory lending. Please check if your state allows for this type of lending.

Additionally, the Consumer Financial Protection Bureau (CFPB) regulates same day loans in some ways. For example, before giving out a loan, lenders are mandated to assess a borrower’s ability to repay the loan and still be able to manage daily living expenses before they can be allowed to borrow.

Also, lenders must provide written notice before collecting from a defaulting borrower’s bank account.

Fortunately, these loans can be very beneficial. They are convenient when you encounter unexpected expenses or any financial emergency. Many online lenders can avail of them within hours of successful application. UnityLoans, for example, says it can connect you with lenders that can approve and avail of loans within 5 minutes.

The good thing is to borrow responsibly – Don’t borrow what is more than you need or cannot pay back. If used wisely, same day loans are an excellent way to finance emergencies. You can even opt for early repayments to reduce overall pay. Confirm with your lenders if they allow early payments before you sign up for anything.

Where Can I Get a Same day Loan Safely and Legitimately?

Banks

Banks may sometimes accept loan requests and offer cash within the same day of applying. However, this is usually unlikely because you must follow a lengthy application process that may take three business days.

And if you have an unpolished credit score, your chances of getting the loan are close to zero. Many banks usually reject high-risk borrowers. Note that the high-risk borrowers also include those with no credit history.

Fortunately, their interest rates are lower compared to other sources.

Credit Unions

Some credit unions can avail of same-day or quick financing options. They promise a fast application because once your application goes through successfully, you can get the cash deposited into your account within 24 hours or the next business day. An example is Alliant Credit Union.

However, credit unions require membership, and as an account holder, you must meet eligibility requirements to qualify for some financial products. They also charge higher annual percentage rates and have limited accessibility compared to banks or online lenders.

Online Lenders

These lending platforms can get you money within 24 hours or the next business day once your application succeeds. They perform affordable checks on applicants instead of the usual hard FICO credit checks. As a result, they can accept loan requests that other lenders (banks and credit unions) cannot. They specialize in providing loan offers for applicants who require quick cash but have a poor credit history.

How to Get a Same Day Loan

There are two ways to get a same day loan: using a credit broker or applying directly with a lender. If you apply directly with a lender, you’ll have to go from one lender to another, trying to find one that can approve your loan request.

A simple web search on how to get a same day loan will give you a list of lenders to apply from. However, this puts you at a disadvantage because when a lender performs a complex FICO search on you and declines your application, it will cause a dip in your credit score. It is also laborious to move from one lender to another.

On the other hand, when you use a broker, a hard credit search is not performed on you. UnityLoan, for example, will connect you with a network of lenders in one application. From there, you can choose one that has the best terms. Here’s how you can go about it.

Visit UnityLoan.com and complete the loan request form. They will send your request to their panel of lenders. Each lender will review your application and send you a no-obligation quote. You will receive multiple offers from which you can carefully analyze each to find and accept one that suits your preference. Expect to receive your money as soon as 24 hours after applying.

Conclusion

UnityLoan is a credit broker that doesn’t charge to connect you with a lender. When you apply through them, you will pay the same fees as you would if you approached a direct lender.

All lenders in UnityLoan’s network are industry-leading, trusted, legal, and transparent with their loan terms, fees, and APRs. It would be best never to worry about connecting with an unlawful lender or a loan shark.