Need a Loan? Check Out These 10 Apps That Let You Borrow Money In the USA

What would you do if you needed money and couldn’t get it through conventional means? Maybe your car broke down, and now you have to pay for the repair work before you can get back to work? Maybe you need to cover unexpected medical expenses and your savings account isn’t cutting it? Maybe you just want to buy something that costs more than your monthly income? Whatever the reason, there are certain things you can do when you need cash quickly and don’t have access to traditional financing options such as banks or credit cards.

1) Alipay

top loan app
Peer-to-peer lending in China is big business and Alipay has a decent share of it. More than 60 percent of all peer-to-peer loans in China are processed via Alipay, making it one of China’s biggest fintech companies by volume. However, some analysts say that its success comes at an unfortunate cost: high delinquency rates (5% to 10%) compared to other P2P platforms. Still, if you’re looking for a loan in China, it’s probably your best bet.

2) PayNearMe

If you’re looking for an easy way to get cash for immediate purchases, there are few better ways than PayNearMe. This app allows you to pay cash at certain retail locations and withdraw money from your account immediately, making it top loan app in usa in a pinch. It also accepts most debit cards and allows you to check balances at any time, helping ensure you always have enough money on hand. To use PayNearMe, simply enter your name, email address and phone number.

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3) ZestMoney

ZestMoney, one of our top loan app in usa, is an online personal finance platform. It was founded in 2012 to make getting loans easier for customers and to ensure that they are able to use their money with peace of mind. Over time, ZestMoney has grown from offering just cash advances and personal loans into many other areas. There’s even a dedicated page that details how borrowers can save money at different shops and restaurants in India. ZestMoney might not be as well-known as other top loan app in usa services like LendingClub or PayPal Credit but it provides some great features including transparent rates and on-demand instant approvals.

4) PayPal Credit

If you’re in need of a small loan, PayPal Credit can be an option. The service, which launched in early 2018, is not unlike traditional payday loans—in that it lets you borrow money (up to $10,000) with interest—but it’s done through your PayPal account and isn’t subject to many of those pesky state laws regarding payday lending. One drawback: Users only have two weeks to pay off their loans or be hit with interest charges. Also, if you take out multiple loans within 60 days (regardless of how much money each loan is for), you’ll end up paying interest on both.

5) Kabbage

Kabbage makes it simple to get an unsecured business loan in minutes. We’re one of America’s fastest growing online small business lenders, serving tens of thousands of businesses every year. Best of all, our service is free for you – we earn revenue from investors who purchase our loans on Wall Street. If you need money, we can help!

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6) Avant

This app lets you borrow money from your social network. Apply for an Avant loan with a tap of your finger, get approved within minutes, and receive funding directly to your bank account in as fast as one business day. Avant also has no hidden fees, no prepayment penalties, and rates as low as 15% APR* so you can afford to get what you need now. And because it’s backed by some of Silicon Valley’s most well-known venture capital firms (Sequoia Capital, Founder Collective) and tech innovators (Twitter founder Jack Dorsey), we make borrowing smarter—and more socially connected.

7) Affirm

Prosper is one of several peer-to-peer lending sites that connect people who need money with people who have money to lend. Prosper was founded in 2006 and by 2015, it had facilitated $5 billion in loans. It’s different from other peer-to-peer sites because it offers only personal loans (as opposed to business loans), and provides more information about your potential lender than most other peer-to-peer platforms. If you don’t like lending money on Prosper, you can also use Lending Club or Zopa instead. (More reading: What Is Peer to Peer Lending?)

8) Prosper

This online lending platform allows you to borrow up to $35,000 (though Prosper is currently not issuing loans in all 50 states). Lending Club: This peer-to-peer network makes it possible for individuals to lend money directly to borrowers via an Internet connection. Rates vary based on creditworthiness and loan purpose, but they generally fall within two ranges: 3.49% – 6.95% APR and 2.99% – 8.99% APR.

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9) LendingClub

LendingClub is a leading online marketplace that connects borrowers and investors. LendingClub uses an online platform to connect people who want to borrow money with those who have money to lend. Instead of having banks or credit card companies handle loans, members can search and apply for loans, submit funding requests, get matched with others in need of funds, and invest in personal loans. If you are approved for your loan request, investors deposit their funds into an escrow account until you pay off your loan — similar to how crowdfunding sites operate. Applying for small business financing on LendingClub requires submitting extensive personal information like: employment history; education; financial assets; credit scores; bank account information and tax forms.

10) Earnest

Earnest is an online lending platform that enables you to borrow money to pay for school, home or car purchases. When you apply for a loan with Earnest, it conducts a soft credit check and analyzes your income, assets and debts to determine whether you qualify. If your application is approved, Earnest transfers funds directly into your bank account. To apply for an Earnest loan, visit its website or download its mobile app.

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