In today’s world, where everything happens at lightning speed, there is no exception when it comes to loans. FinTechs have made it easier than ever to get approved for a loan instantly. These quick loan apps allow users to apply for a loan and receive funds in their accounts within minutes or hours. With these conveniences in mind, we have compiled a list of the best quick loan apps that will make borrowing seamless for you in 2023.
1. Earnin
Earnin is a quick loan app available for both Android and iOS users, enabling them to access their salaries or wages ahead of time. You can transfer up to $100 per day and up to $500 per pay period. Another feature of Earnin is that it uses GPS to track your location so as to verify that you are at work to access your earned pay. The company is also known for its tips feature, where users can choose to tip the company or not.
2. MoneyLion
MoneyLion is a mobile banking platform and financial membership program that offers its users access to credit-building loans up to $250 at a 0% APR, no-fee checking accounts, investments in stock and ETFs, and rewards points for healthy financial habits. MoneyLion offers a free credit monitoring service, financial advice, and early cash-out services for its loan products.
3. Prism
Prism is a personal finance management app that offers bill reminders and bill pay services. The app also provides users with a free credit score and credit monitoring. Prism’s loan offering is based on your ability to repay the loan, and if approved, the funds will be sent directly to your bank account.
4. Brigit
Brigit is an app that offers income-floated loans of up to $250 to help users avoid overdraft fees or late payment fees. Brigit’s algorithm uses various factors such as your income, spending habits, and account balance to determine your loan eligibility. The app also offers an automatic savings tool that helps users manage their finances better.
5. Chime
Chime is a mobile-only bank that offers early direct deposits of your paycheck as well as credit builder loans. The bank has no hidden fees, minimum balance requirements, or monthly charges. Chime’s lending services are offered through its Credit Builder program, where customers can borrow up to $1,000. The program also aims to help customers improve their credit score by reporting their loan repayments to the credit bureaus.
Conclusion
Quick loan apps are an incredible solution for anyone who’s in urgent need of cash. These apps not only provide fast loans, but they also offer a plethora of benefits, including financial advice, credit management, and savings tools. Therefore, choose the app that suits your needs and borrow wisely. Remember, loans are liabilities, and it’s crucial to repay them on time to maintain financial stability.
