While we all are looking forward to upcoming holidays, this end-of-year rush gradually fades away, leaving us one-on-one with bills and unexpected expenses. And if you have a bad credit score, it may be difficult for you to cover them on your own. Luckily, there are direct lenders that provide payday loans for bad credit borrowers based on their income, so everyone with credit difficulties can get extra cash immediately. But where should you start if you need money desperately?

On the one hand, it’s great when you have a lot of options to choose from. On the other hand, it can be difficult to decide on a direct lender as there are so many variants that you may feel lost and don’t know which one to choose. To help you get through this embarrassment of riches, we’ve made a list of the best online lenders for no credit check payday loans with instant approval and a same-day deposit.

Best Same Day Payday Loans for Bad Credit

  1. 1F Cash Advance – Apply for small payday loan online now
  2. ASAP Finance – Apply up to $700 loan with no credit check today
  3. 15M Finance – Get a 200 dollar loan today even with bad credit

#1. 1F Cash Advance – Best Instant Payday Loans Online with Guaranteed Approval

Customer service: 4.3/5

Customer support: 4.9/5

Acceptance rate: 92%

Loan decision speed: 4.7/5

Overall trustscore: 4.7/5

When time is short and you need a bad credit loan with same-day funding, 1F Cash Advance is probably one of the best companies you can turn to. As it works as an ancillary service that connects a borrower to a loan provider, you won’t need to waste your time comparing multiple direct lenders. You simply fill in your personal details using the online application form and get access to offers from many service providers at once. As the company deals with trusted and licensed lenders only, you can rest assured knowing that the lender you work with is not a scammer.

1F Cash Advance provides bad credit loans till payday along with longer-term options for those who are looking for more flexibility. All the options are not subject to hard credit checks and are allowed with a poor credit score. As you can see, the company’s acceptance rate is at a high level.

“We want to be a financial shelter for people who are cut off from traditional loans for various reasons, including a bad credit history. I strongly believe that borrowing money is not a privilege that must be available only to some merit. Everyone who needs it must have a right to get help.” – Marsha Welch, the finance writer and personal finance expert of 1F Cash Advance.


Basic eligibility criteria only

You don’t need to get out of your way to qualify. The requirements you must meet are reduced to a minimum and include age restrictions (at least 18 years old), citizenship status, minimum monthly income requirement (no less than $1,000), and having an active checking account.

Various repayment periods are available

Besides short-term loans, you can also access options with an installment structure, which reduces your monthly payment amount by dividing the whole loan cost by the number of months of repayment terms.

Money funding within a business day

The company offers emergency loans that you can access quickly from anywhere with a few clicks. The whole procedure typically takes one business day.

#2. ASAP Finance – Get a $700 Cash Advance with No Credit Check

Customer service: 4.6/5

Customer support: 4.4/5

Acceptance rate: 90%

Loan decision speed: 4.4/5

Overall trustscore: 4.6/5

ASAP Finance is a company that refers to an online loan retailer that unites many lenders and combines their loan offers into one organized database that everyone can access for free by filling out a simple online form. The marketplace stands for accessibility and swiftness, so it provides small cash advances without reviewing your credit report. This approach helps direct lenders save time on a credit check. This is also good news for people who are trying to improve their credit, as the company’s bad credit loans don’t affect their credit scores.

Also, the company wears the crown for its outstanding customer service. According to the data collected from Trustpilot, the customer satisfaction rate is pretty high. Also, the service provides loan options at reasonable interest rates, so you shouldn’t worry about a high loan cost.

“There are many reasons why your credit score can go down and become a problem. Since the economic situation has deteriorated significantly in recent years, people find it harder to cope with financial difficulties. Therefore, I don’t think it’s fair to take into account only the borrower’s credit history. We strive to be a support for people regardless of their credit scores.” – Gregory Allen, the principal CEO of ASAP Finance.


A loan application process takes a few minutes

The application process is designed in a way to be plain and streamlined. The company wants you to have no difficulties or questions along the way, so there are only three application steps, and you need a few minutes to complete them. Moreover, you can apply online 24/7 and don’t need to wait until opening if an urgency happens.

Borrowers with bad credit scores are welcome

As the name suggests, bad credit loans, which include payday loans, are designed specifically to cover the extra money needs of people with bad credit. You can even get approved if you fail to obtain other loans from traditional lenders.

No checks through major credit bureaus

Unlike bank or credit union loans, fast cash loans from ASAP Finance don’t influence your credit history and can be used as a financial lifeline for people who are on their way to improving their credit.

#3. 15M Finance – Best Online Loans for Bad Credit with Instant Funding

Customer service: 4.2/5

Customer support: 4.7/5

Acceptance rate: 91%

Loan decision speed: 4.3/5

Overall trustscore: 4.5/5

Getting a short-term loan online will be a cinch for you if you start doing your business with 15M Finance. First, its application procedure comes down to one online form where you need to enter your personal and financial details. After you do this, the company sends your completed loan request form to its network, which consists of multiple direct lenders throughout the US. A lender that can meet your needs will send you a loan offer after conducting a soft pull.

Next, the duration of the money funding process will pleasantly surprise you too. You can get a loan amount till your next payday as soon as the next business day. This way, bad credit loans till paycheck can be used to cover small financial emergencies. Finally, borrowers with low credit scores are not obliged to provide a pledge to get extra cash. Thus, you have no risk at all.

“Our team strives to give customers the kind of products and treatment that each of us would like to receive in a similar situation. This is the reason why our customers turn to us again and again when they need financial assistance. We aimed at reaching the level of customer service of the best financial institutions as we want people with low credit scores to access high-quality assistance they deserve.” – Shania Brenson, the founder of 15M Finance.


Bad credit loans at competitive interest rates

If you think payday loans can’t be reasonably priced, 15M Finance can convince you. By the standards of the payday lending industry, the platform offers fair interest rates. It also charges no application fees to make the service accessible to almost everyone.

No credit score restrictions

There is no minimum value that your credit score must match. Lenders are not focused on your credit history and don’t consider it an important factor. Feel free to apply with any credit if you meet other basic requirements.

Almost guaranteed loans

The company has an acceptance rate of approximately 91%, which is really high. This means that almost everyone who applies for a bad credit loan through 15M Finance can receive it.

Short Guide to Bad Credit Payday Loans

Bad credit payday loans are financial solutions with repayment terms till paycheck that are available to consumers with any credit. A payday loan is considered the easiest loan to get with a low credit score, and it is also one of the fastest financial options. Just take a look at how quickly you can get both a loan approval decision and a money transfer. Typically, a lender sends you a response within one hour, and the money arrives in your bank account as fast as the next working day.

Payday cash advances are options for people who need to borrow small loan amounts for a short term in order to cover up to $1,000 in financial emergencies. As the repayment terms are limited by your next payroll date, these bad credit loans require you to make one large payment when the maturity date comes.

Here are key features of same-day payday loans for bad credit:

Interest rates: may vary significantly and depend on the lender, state, credit score, income, and the requested amount. Some payday loans come with an over 400% APR.

Origination fees: are typically charged in addition to an interest rate, but the exact amount depends solely on the lender.

Loan terms: 14 to 31 days.

Loan amounts: in most states, the sum you can obtain ranges between $100 and $1,000.

Payment schedule: you have to repay the loan in one lump sum.

Minimum credit score required: no restrictions; an individual can apply with any credit.

Online Payday Loans vs. Personal Loans

Online payday and personal loans are debts people use to cover their personal needs. However, this is almost the only similarity between them. In fact, these two loans are completely different. A payday loan is a short-term solution with limited loan amounts. It can be obtained with bad credit and doesn’t involve any hard inquiries that decrease your credit score. With the help of short-term loans, you can take out between $100 and $1,000 and repay the whole loan cost once after receiving your next wage.

On the contrary, unsecured personal loans refer to traditional lenders’ debt that can be obtained with good credit only. It is also a type of borrowing that requires a hard credit check that drops your credit score by a few points. Personal loans offer more flexibility due to extended loan terms reaching 60 months. This way, your loan costs are split equally by the number of billing cycles. Also, a personal loan amount can be much higher than the payday lenders offer. In some cases, you can get up to $100,000 provided you have sufficient income to cover your monthly payments.

When Payday Cash Advance Loans Are a Good Idea?

Although many people think payday loans take you one step closer to a debt overhang that will trap you over time, getting a short-term cash advance is not always a bad idea. For example, when you need a small amount to overcome an emergency and you’re totally sure you can repay it from the money you receive when your next paycheck arrives, bad credit payday loans can be useful.

An online payday loan can also do a good job for you when they are used to prevent debt growth or cover some daily needs that you can’t service due to unplanned spending. People often take out bad credit loans till payday for the following emergencies:

  • Car repairs;
  • Utilities;
  • Medical bills;
  • Credit card payments;
  • Rent or mortgage payments;
  • Debt consolidation;
  • Regular spendings.

More Options to Choose from for Poor Credit Scores

Making an informed decision always starts with knowing all the options you have. Thus, before you apply for small payday loans online with no credit check, review other available borrowing options for poor credit.

Online Installment Loans

An installment loan refers to borrowed funds that you can repay partially instead of extinguishing a debt in one payment. Installment loans for bad credit are a great solution for people who need a larger amount that is not easy to pay off in a lump sum. They can also be a good way to solve financial problems for people with fluctuating incomes. This way, they can be sure they will be able to meet their payment obligations without interruption. Online installment loans have terms of up to 24 months and give access to amounts up to $5,000 within a borrower’s income possibilities.

Bad Credit Personal Loans

If you need to make a major purchase that is up to $15,000, bad credit personal loans are a good alternative to traditional bank loans. As the terms can be up to 60 months, you can use this type of loan as a long-term financial solution. Thus, in contrast to other bad credit loans, these are the best loans for customers searching for more flexibility or needing higher loan amounts. But keep in mind that your income needs to be satisfactory.

Secured Loans

Secured loans (for example, auto title loans or home equity loans) can be offered by both traditional lenders and online loan providers. As they use some of your property as a repayment guarantee, these options are typically bad credit friendly and have more advantageous conditions compared to other bad credit loans. However, a secured loan can leave you without your car or realty if you fail with your loan payments.

Joint Personal Loans

Joint loans can be used when a borrower hasn’t built any credit yet or has some past financial mistakes that are displayed in their credit report. The key is that those with poor credit bring along a co-borrower with good or excellent credit. In this approach, borrowers with bad credit use someone else’s good credit history to get a loan for personal needs, but both the primary borrower and the co-borrower must comply with repayment requirements.

Online Loans from Cash Advance Apps

A cash advance app is usually considered an alternative to a lender’s website. Cash apps allow you to apply for payday loans online with your smartphone and make it quicker. But sometimes loans from apps have a few more distinguishing features besides an interface.

Even though both these online loans have a short repayment time and up to $1,000 borrowing limits, cash advance loans from apps are usually less expensive due to lower interest rates and fees. Also, apps are considered easier to use. You can download them through a digital distribution service, such as App Store or Google Play, install them on your iOS or Android device, and go through a simple application process.

Payday Loans Online vs. Cash Advance App Loans

While most borrowers think these are the same financial products, there are some differences that may play a role for some groups of people. First, cash advance app loans are usually faster to apply for as you need to follow the simple instructions on your smartphone screen. Also, when you get a payday loan online through a website, you may face a higher interest rate and origination fee. Finally, some apps use special counters to make calculations of the amount you’ve already earned. This was made to prevent you from borrowing more than you can return.

Things to Know About Payday Loans Online with No Credit Check and Instant Approval

Here are some things you need to bear in mind to get ready for tricks that lenders often use to make you obtain a loan. This way, you won’t let them distort the real picture and will be able to make a well-informed decision:

  1. Online payday loans with no credit check actually require you to go through a soft form of verification. Although it doesn’t ruin your credit score, a lender still uses available sources of information to review your credit and payment history.
  2. The statement “instant approval” commonly means that it will take you a little time to get a response from a lender. Thus, online payday loans with no credit check are not guaranteed. The decision can be negative if a lender identifies your insolvency while making a soft credit check.
  3. Like any other bad credit loan option, payday loans come with high interest rates. Thus, you shouldn’t expect their cost will be on par with traditional bank loans.
  4. Payday loans can’t meet your long-term financial needs, so you should use them only in case of some cash shortages that you’re sure to be able to cover within the short term.
  5. Check the legacy status of payday loans in your state. As payday loans online with no credit check and instant approval are pricey, they may be banned in some states or allowed with several restrictions.

Borrowing Guide: How to Pick The Best Small Payday Loans Online With No Credit Check

First, you need to understand that not every lender is worth borrowing from due to the conditions it offers. Thus, when you’re at the point of choosing a lender, try to avoid false promises. Don’t fall for everything lenders tell you to attract your attention. When a lender states it offers no credit check loans with guaranteed approval, there is typically not a word of truth in it.

Also, pay attention to interest rates and fees and give preference to loans that cost less. You can apply through several platforms to increase your chances and get more options to compare. This way, try to stay away from services that charge application fees. You won’t be able to compare various payday loans for bad credit and can get rejected without a refund of the paid amount.


Where Can I Get Bad Credit Loans Near Me?

If you’re looking for a trusted bad credit loan lender in your city or state, do your research using the Internet in accordance with the metrics mentioned in our borrowing guide. Also, many lenders offer online loans you can access without being tied to a specific area. Just use an app or visit the company’s website to apply for a payday loan online. If this variant fits you, consider the services mentioned in our list.

Can I Get $255 Payday Loans Online Same Day?

Actually, you can get $255 payday loans online on the same day only if an online lender provides this opportunity for its customers. This way, you may need to apply before 10:30 AM on a weekday. However, most payday loans offer funding terms by the end of the next business day.

Is It Possible to Get an Instant Payday Loan with Bad Credit?

When you apply for an instant payday loan, your credit score doesn’t play a role. You can get a short-term financial solution within a business day, even with a bad credit score. Also, this borrowing option may suit those who don’t build any credit yet.

Do Online Payday Loans with No Credit Check Affect My Credit Rating?

There is no hard credit check performed by payday lenders. This means payday loan providers don’t request your credit report data from major credit bureaus. Thus, payday loans with no credit check don’t have any impact on your credit history.

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