Top 10 Lenders USA - Best Short Term Loans (2012)
| Rank | Lender | Amount | Cost | S.Fee | Features |
|---|---|---|---|---|---|
| 1 | 100 Day Loans Our Choice |
$100 $200 $300 $400 $500 Up to $1,000 |
Individual rates Normally $15 to $30 on every $100 |
$0 |
Loan up to $1,000 No Faxing Bad Credit allowed Extend loan up to 100 days High approval rates |
| 2 | PayDay One Direct Lender |
$100 $200 $300 $400 $500 Up to $1,000 |
$22.88 $45.77 $68.65 $91.53 $114.42 Up to $228.84 |
$0 |
Direct Lender State Licensed Loan up to $1,000 No Faxing More info |
| 3 | AmeriAdvance Bad credit allowed |
$100 $200 $300 $400 $500 Up to $1,500 |
$25 $50 $75 $100 $125 Up to $375 |
$0 |
Bad credit allowed No Faxing High approval rates Loan up to $1,500 |
| 4 | DiscountAdvances Cheap rates! |
$100 $200 $300 $400 $500 Up to $1,500 |
$8.75 $17.50 $26.25 $35.00 $43.75 Up to $131.25 |
$0 |
25% discount for new customers Loan up to $1,500 |
| 5 | Check City Direct Lender |
$100 $200 $300 $400 $500 Up to $1,000 |
$25.38 $50.77 $76.15 $101.53 $126.92 $253.84 |
$0.5 |
Loan up to $2,500 in some states No Faxing Direct Lender More info |
| 6 | Team Quick Cash |
Up to $1,000 | Individual rates | n/a |
Loan up to $1,000 Minimum income $800 per month |
| 7 | Cash Central |
From $100 up to $1,500 | From $25 to $380 | n/a | More info |
| 8 | LendingTree Mortgage Loans |
Mortgage Loans Mortgage Refinance Home Equity Loans Auto Loans Credit Cards |
Mortgage APR: 3.13% (5/1 Adjustable Rate) |
Bigger loans Both fixed and variable rates |
|
| 9 | WeGiveCash |
Up to $1500 | Depending on lender |
Up to $1500 Network of lenders |
|
| 10 | Cash Net USA |
$100 $200 $300 $400 |
$16.00 $31.50 $47.00 $62.50 |
$0.5 $0.5 $0.5 $0.5 |
Loan up to $1,500 No Faxing $1,000 Minimum Income More info |
Applies to all
- Prices based in state New Mexico if available else Texas .
- Minimum Pay refers to Pay after Taxes, monthly.
- All fees are based on a 14 days timeframe.
- Amounts are based on your first loan. Up to amounts under Features is the maximum loan after your first loan.
Notes: Ranking based on the level of service and approval rates.
More untested Lenders (2012)
| Lender | Type of loan |
|---|---|
| Abacus Credit |
Short term loan |
| MoneyAisle |
Car loans |
| Secure Money Store |
Short term loan |
| OnlineCash911 |
Short term loan |
| Your Auto Cash Now |
Car loans |
| Safe Online Cash |
Short term loan |
Notes: These lenders have not yet been added to our main comparision list, where the lenders has been researched more carefully.
Payday Loans: An Introduction
Payday loans have become an increasingly popular means of securing short-term cash, particularly given the state of the economy and the increasingly stringent credit guidelines.
Short-Term Financial Crises Averted
Payday loans, in short, are short-term loans that are secured with future earnings. In other words, a payday loan is typically taken out against your future paycheck or paychecks. Payday loans are often taken to cover short-term expenses when money is due yet the paycheck is still days or weeks away.
Many individuals who take out payday loans are in a financial bind; from rent payments to car repairs, payday loans are often taken out to cover short-term financial needs that simply cannot wait until the next paycheck arrives.
There are many advantages to payday loans, particularly for individuals who cannot secure credit.
Payday Loan Advantages
Payday loans are beneficial to many individuals because:
- They require no credit check
- They can be secured in as little as a few hours
- They eliminate credit card debt and interest charges
- They eliminate bank overdraft and bounced check fees
- They have easy repayment terms
Although payday loans have received some negative press over the last few years, because of the interest charges and fees associated with them, the fact is that many times the fees for payday loans are much less costly than fees associated with overdrafts, over-the-limit credit card fees, and bounced checks.
Payday loans can also protect an individual’s credit by allowing him or her to pay his or her debts on time and prevent a mark on his or her credit score.
General Rules and Regulations Regarding Payday Loans
Generally speaking, most payday loans are now secured over the Internet from payday loan websites, although there are still payday loan stores located throughout many cities and states. The benefit of online payday loans is that money can be secured and transferred into a bank account in as little as a few hours.
Online applications for payday loans are generally easy to fill out and take only minutes to complete. Although the rules and regulations differ between payday loan companies, most companies require that the applicant be at least 18 years of age; be employed full-time; and have an active bank account.
The money loaned out by payday loan companies varies, as does the time period in which the loan must be repaid. Generally speaking, however, most payday loan companies requirement repayment of the loan within 14 to 30 days. Loan amounts can range anywhere from $100 to $1,000 and more.
The interest rates and fees associated with payday loan companies also vary, although the length and amount of the loan often dictates the fees associated with it. Fees and interest charges can be wildly different between payday loan companies, so it is often in the best interest of the applicant to shop around and find the best deal. In addition, although most payday loan companies are legitimate, it is also important for the applicant to check out the payday loan company before they conduct business with them.
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