Direct Lenders Like SpotLoan & Similar Loans

The number of direct lenders and apps like SpotLoan is huge. They offer customers to access funding fast without the drawn-out process that is common for bank short term loans.

Is Spotloan a direct lender? Yes! In case of emergency expenses, you can take a loan like SpotLoan offers. Also, Spotloans login process is simple and straightforward, so you can get the money you need without any hassle. A normal stable job is enough to qualify for a SpotLoan like loan of up to $800 by the next day. If you want a larger loan amount, you should explore other loans like Explore credit and Spot loans.

Best Online Loan Companies like SpotLoan

What banks does Spotloan accept? There’s never a bad idea to know your options. However, be sure to read Spotloan similar companies reviews before you apply, as there have been some complaints about the company’s customer service and high rates. Even if you had a positive experience with SpotLoan before, check out what alternative direct lenders like Lendly or Spot Loan can offer you.

• OppLoans
• LendUp
• CashNetUSA
• RISECredit
• SpeedyCash
• PersonalLoans
• CashAdvance

1. OppLoans

OppLoans makes our list of Spotloan alternatives today. 

This online platform operates in 37 states, including the District of Columbia. Since 2012, it offers unsecured installment loans for bad credit borrowers. The possibility to get loans like OppLoans within 1-2 days and the option to change the payment date are among the benefits. 

Yet, when it comes to downsides, high rates, and short maximum repayment terms are one of those.

Companies like SpotLoan or OppLoans are a great option for those who are strapped for cash. 

How much can you get? From $500 to $4,000. The beauty of installment loans like SpotLoan or OppLoans is that no credit check is needed. Simply put, if you’re on the lookout for an alternative to payday loans, it makes sense to consider this option. 

If the borrower’s ability to repay the loan is risky, OppLoans encourages a person to seek cheaper options.

Anyway, no matter the purpose of your loan – urgent bills, auto repair financing, a wedding, or a big-ticket purchase – OppLoans could be right for your needs. Sure, cheaper alternatives are not always fast or convenient, yet it makes sense to do research.

When you require a certain sum for the short term, online loans like Redwood coast finance, Spot Loan, OppLoans may be helpful. Here are the main benefits and drawbacks of this lending service.

Pros:

• No collateral. Consumers don’t need to back the debt up with collateral, as this lending option is unsecured. Thus, it offers fewer risks to the clients to turn their borrowed check into cash.
• No paperwork. There are no documents you need to send or fax. The application process for getting loans like Crane Finance and Spot Loan is streamlined and requires less hassle than other lending services.
• Quick funding. Borrowers will be funded within a business day without a credit check. The money will be deposited directly into their bank account.
• Poor credit. Clients with almost every credit history may qualify for long and short-term loans like Spot Loan and OppLoans. The loan lenders online conduct a soft credit inquiry and often approve the applications.

Cons:

• High rates. Although there are many benefits of installment loans from this provider, the interest rates are higher compared to other creditors. In almost every state, the APR for this lending solution is 160% which may not be affordable for some clients.
• Short repayment term. Although you have a regular monthly payment, the overall repayment schedule isn’t so flexible, and 18 months is considered the maximum loan term to pay the total sum off.

APR:

The APR for every state is 160%, while the borrowers may request between $500 and $4,000 for 9 to 18 months.

2. LendUp

LendUp is the other direct lender that offers loans and installment loans like Spotloan direct lender. 

If you’ve found yourself in a bind and need money now, LendUp can be right for you. 

Are you a first-time borrower? Then you can qualify for a personal loan between $100 and $250 for the short term. Need more money? LendUp offers installment loans between $500 to $5,000, which is a better deal when compared to payday loans. 

Also, it offers a wide range of payback terms with no prepayment penalties. High interests and availability in only 24 states are among the cons.

The coolest thing about LendUp is that it encourages a borrower to strive for a better financial future. Thus, you can earn points for taking financial literacy courses or making timely payments on a personal or payday loan. As a result, you move up the Ladder to better financial products at better rates. 

Yet, once you’ve reached the Platinum level, LendUp reports your credit to the three major credit bureaus. As such, it’s not a good option if you want to build your credit.

To qualify for a personal loan or payday loan, you can even have a thin credit file or a damaged one. The company claims that good credit is not a must. 

Need quick cash within a business day or before your next paycheck? This SpotLoan competitor offers funding in as little as one business day. Convert your borrowed check into cash in no time. If your credit is strong enough, it makes sense to consider other borrowing alternatives.

Pros:

• Poor credit. Clients with almost every credit history may qualify for more installment loans like Spot Loan. Unlike payday loans, the lenders conduct a beneficial soft credit inquiry from credit bureaus and often approve the applications.
• No collateral. Consumers don’t need to back the debt up with collateral, as this lending option is unsecured. Hence, you face fewer risks even if you have issues with debt repayment.
• No paperwork. There are no documents you need to send or fax from the credit bureaus. The application process for getting tribal loans like Spotloan is streamlined and requires less hassle than other lending services.
• Quick funding. Borrowers will be funded within the following business day. The money will be deposited directly into their bank account.
• Encourages clients. You may obtain special points for making on-time payments on your personal loan or taking financial literacy courses. Then, you will be able to qualify for better terms.

Cons:

• High rates. In almost every state, the APR for this lending solution is over 214.13% which may not be affordable for some clients
• Small sum. If you want to borrow the funds for the first time here, you will be able to qualify for a smaller sum of $100 to $250. It may not be enough in many cases.

APR:

The APR can vary between 214.13% and 917.71%, which is rather high. You can obtain a maximum of $255 as a first-time borrower, and only after some time you may obtain from $500 to $5,000.

3. CashNetUSA

When on the lookout for websites like SpotLoan, CashNetUSA is the payday lender worth your attention.

It provides installment loans and even lines of credit in only 29 states, including New York and West Virginia. Thus, if you’re in a money glitch, this leading state-licensed lender has offered fast funding since 2004. No wonder it has become a high alternative for customers trying to handle major financial emergencies.

To apply for a loan for the short term, it’s enough to meet all eligibility criteria. CashNetUSA offers a minimum personal loan amount of $100 and up to $1,500 with favorable APRs when compared to payday loans. The application process is fast and convenient, allowing you to get your funds in your checking account within 24 hours using central time. There are never any hidden fees charged to your debit card, and they report to the primary credit bureaus.

Have bad credit? The good news is that there’s no minimum credit score listed, so someone with bad credit is able to qualify for a loan, too.

At the end of the day, the company’s interest rate tends to be higher than what other loan companies like SpotLoan offer. Also, the lender charges a fee for the cash borrowed. To add, CashNetUSA provides interactive tools and educational resources, with all rights reserved. 

Not sure if this SpotLoan competitor is right for you? Check out more payday loans alternatives on our table of contents.

Pros:

• Unsecured solution. Clients may receive a certain amount without any collateral or credit check within the next business day. If you don’t have a house, a car, or any other valuable asset to secure the debt, creditors won’t even ask about it.
• Interactive tools. Lots of educational resources, blog articles, and interactive tools and offered on the company website free of charge to support consumers and help them become more financially literate.
• Bad credit. Are there loans like Spotloan no credit check that accept consumers with any credit? Yes, you may apply to the CashNetUSA company and have a high chance of getting approved for a small loan with almost every credit score or credit rating.

Cons:

• Not in every state. The loans might be issued only in 29 states of the USA, including New York, West Virginia, and North Dakota, so you should check the details about lending options in your area.
• High rates and fees. This company offers higher fees on lending products compared to other payday lenders.

APR:

The company has a fee of $25 for every $100 borrower, plus 10% interest on loan principal for the payday lending solution, which is quite low when compared to payday loans with three-digit interest rates. The borrower may request up to 35% of their gross monthly income or $1,800. The repayment term for a payday loan is between 8 and 35 days.

4. RISE Credit

Although RISE Credit comes with high interest, it could be an option for you. This lender is a good variant for borrowers who are unable to qualify for a loan elsewhere. 

The beauty of this online lender is that it offers a progressive rate system. Once a borrower makes on-time payments over time, his credit improves. Also, RISE Credit provides personal loans and a variety of other financial services.

Face unexpected expenses but been rejected by other lenders? RISE Credit accepts even borrowers with poor credit. Yet, get ready for high interest rate from 50% up to 299%. 

The good news is that RISE Credit doesn’t charge application or prepayment fees. Thus, you can qualify for a loan from $500 to $5,000 and pay it back over four to 26 months, compared to payday loans that demand repayment in 2 – 4 weeks. Asides from the good absence of prepayment fees, the terms and APR vary from state to state. 

As an advertiser disclosure, it’s important to note that if you plan to build credit, this SpotLoan-like company is not a good idea. Unless you’ve ruled out all the alternatives, RISE Credit could help you get cash in an emergency.

Pros:

• Quick funding. Borrowers will be funded within the next business day. The money will be deposited directly into their bank account.
• Poor credit. Clients with almost every credit history may qualify for money loans like Zocaloans and SpotLoan. The lenders perform a soft credit pull and often approve the applications.

Cons:

• High fees and charges. If you haven’t been approved in other places, it may be a good idea to choose this service. Otherwise, get ready to pay a lot in interest.
• You can’t boost your credit. This is not a traditional lending institution that may help you improve your credit history. It’s a suitable alternative when you are strapped for funds.

APR:

Borrowers may obtain from $500 to $5,000 for various needs. The repayment period is between 7 and 26 months. The interest rate is based on the client’s credit rating and can be from 99% to 149%, which is not low.

5. Speedy Cash

Need a financial boost in the form of a payday loan? SpeedyCash could be the one-stop solution for you. It’s the other online lender that works the same quickly and easily as the other lenders that offer installment loans, such as Spot Loan. It lets customers not only apply for new loans but also manage existing ones.

So, what can you get from SpeedyCash? Quick and easy way to get funding within the next business day, even with a bad credit score. Thus, you can qualify for a $100-$15,000 loan for the short term to cover your unexpected expenses, medical bills, and the like. 

Also, the lender offers a number of financial services that you can use both online and in its physical store. Today, SpeedyCash works in almost 20 states and provides flexible repayment options, including loan refinancing.

To add, this SpotLoan-like lender lets you cancel the credit within a 24 grace period. If you succeed, you won’t pay any fees. Otherwise, you might come across some charges. 

Anyway, getting financing from SpeedyCash is easy. But first, it makes sense to learn the rules of the company. Thus, you’ll skip unexpected problems.

Pros:

• Fast cash. Online lenders like Spot Loan and Speedy Cash issue the funds quickly and with no hassle, which is convenient for clients who are in urgent money need.
• Low credit. Almost every application is approved by this online service. Don’t worry if your loan request was denied in other places.

Cons:

• Not in every state. There are about 20 states, including New York, West Virginia, and North Dakota, in which consumers may find Speedy Cash today. You need to check the details on the company site and look for the fees available in all states.
• High rates and fees. As this company offers title loans, payday loans, and installment loans, the fees and charges may vary, but the interests are rather high compared to other conventional lending services.

APR:

Consumers may request from $50 to $26,000 for any purpose, and the repayment term is flexible. Loans are typically issued for 14 or 30 days. The interest rate for a 14-day loan term is 460.16%, while the APR for a 30-day loan term is 214.74%.

6. PersonalLoans

Unlike all the above-mentioned companies similar to SpotLoan, PersonalLoans is not a direct lender. 

Launched in 2017, this online platform works as a convenient place to obtain a personal loan through a reliable network of lenders. Once you land on its website, there’s a pool of online lenders ready to work with you. It would be a great choice for those who can’t choose a lender.

So, how does it work? The company serves as a connection between a lender and a borrower. As such, you fill in the request form, including a loan amount, credit type, and income information, and get connected with the potential lender.

If you’re looking for an easy way to cope with financial problems, PersonalLoans could be the solution. As a result, you save time and get a loan offer from a lender like SpotLoan, even with bad credit. Indeed, the loan requirements depend on the lender, such as a verifiable e mail address, bank details, credit information, SSN, phone number, valid ID, and the loan type you choose.

Pros:

• No paperwork. There are no documents you need to send or fax from the credit bureaus. The application process for getting online loans such as Spot Loan is streamlined and requires less hassle than other lending services.
• Quick funding. Borrowers will be funded with their personal loans within the next business day. The money will be deposited directly into their bank account.
• Large amount to obtain. Clients may request up to $35,000 for their needs, but this sum isn’t offered in the majority of lending places.

Cons:

• High fees. Not every consumer will agree to pay high interest rates, but those who have poor credit may need to accept this offer or get rejected in other places.
• Not a direct lender. Apart from other companies, this is an online loan-connecting service that cooperates with a pool of direct creditors in many states, so each creditor may ask for various rates and terms.

APR:

Consumers may obtain from $1,000 to $35,000 for a period of 90 days to 72 months. The payments should be made once or twice a month as agreed with your service provider. The APR changes among lenders and is based on the client’s repayment history, credit rating, and other factors.

7. CashAdvance

Want to borrow money through CashAdvance? Well, here’s what to consider before you apply.

First, it’s an online lending network that works with a huge number of lenders. Second, it lets anyone qualify for a loan. Finally, it’s a great place for people in need of emergency financing. Yet, there are downsides you should know before applying.

CashAdvance is not available in all states, so make sure it can serve you in your state. Also, the loan amounts and terms vary. In general, you can opt for a loan between $100 and $999 and repay it within 7 or 60 days. 

As you see, CashAdvance isn’t a great match for a long-term solution to your financial situation. When it comes to the APR, its rates range from 15% to 1,564%, which is huge. 

Pros:

• Unsecured solution. Clients may receive a certain amount without any collateral. If you don’t have a house, a car, or any other valuable asset to secure the debt, creditors won’t even ask about it.
• Bad credit. Are there other lenders like Spot Loan that accept consumers with any credit? Yes, you may apply to the CashAdvance company and have a high chance of getting approved for a small loan with almost every credit rating.

Cons:

• Not in every state. Consumers may get funded for their needs, but not in every state. You need to check the details on the company site and look for the fees available in your area.
• Not a direct lender. This service doesn’t issue the loan itself, as it’s just a loan-matching company and online platform where you may leave your application and reach numerous lenders.

APR:

Consumers can request from $100 to $999 for a period of 7 to 60 days. The APRs change as every creditor offers various rates, but you may obtain a loan with an APR from 15% to 1,564%. The interest rates are really high, so borrowers prefer to compare terms with other service providers.

Online Loans like SpotLoan That Take Disability

Many consumers are worried about the type of employment or paycheck they need to provide to the creditor with their application. Installment loans like Spot Loan and the above-mentioned companies offer a chance to get funded to almost every borrower. Welfare benefits, as well as disability benefits, are also considered monthly income, although the person isn’t employed. 

Hence, you may take out online loans like Fineday loans and SpotLoan even if you are on disability benefits. Such clients are also eligible for a small personal or installment lending solution if they urgently require some cash to fund their needs. So, consumers on disability benefits are treated the same way as any other client or borrower.

Loans Like Spot Loan Lower Interest Rate

Many consumers are looking for a comparison platform with alternative lending companies and services to compare the rates and find the best solution. If you want to find direct lenders like Spot Loan near you, it’s necessary to search in your area or state. Some states, such as New York, prohibit payday lending options, while the majority of creditors have their own offers with particular rates.

Borrowers should take some time to review each company or crediting institution. Your aim is not only to check the eligibility criteria but also to compare the loan conditions, the APRs, other charges, and necessary documents such as your social security number, the repayment term, etc. This way, you will be able to find the most attractive offer tailored to your needs and save your cash in the long run.

Types Of Loans Like SpotLoan Near You

SpotLoan is a reputable lender with several loan offers to help you with expenses. These expenses include the likes of hospital bills, utility expenses, car emergencies, new appliances, and rent, among others.

If you want a cash advance to take care of these from similar providers like SpotLoan, we’ve compiled menu loans just for you. Each 2500 personal loan service provider on this list has different offers for you to take care of your many financial needs, as listed above.

• Upstart:: This lender is best for borrowers who desire no credit checks and sizeable personal loan amount of $1000 – $50,000.
• OneMain Financial: Onemain financial lends a minimum of $1500 without credit checks, giving you offers much better than a payday loan. 
• OppLoans: Similar to OneMain Financial and Upstart, this lender is excellent for payday loans installment with no credit check. You can borrow up to $4,000 from this lender.

Tips to Find The Best Lender Like SpotLoan

If you seek a loan provider like SpotLoan, we’ve prepared helpful tips to ensure you get only the best. Although you might find similarities in loan amounts by these providers, you should note that there’ll still be differences to consider among them.

In the section below, you’ll encounter tips such as calculating how much you require, comparing the credibility & reputation of lenders, their fees, annual percentage rate, repayment terms, credit checks, and loan amounts. We’ll go into detail as to why these tips should influence your decision in picking a lender with cash advances that are similar to that of SpotLoan.

Calculate How Much You Need Exactly

Each loan service provider you come across should display the loan amount they can give to borrowers. This helps borrowers know if they’re the right fit for the expenses they want to use the loan to clear. For example, you may need $1000 in loan amounts, in which case, you’d consider a lender like Upstart.

If it’s $1500, you may consider a lender like OneMain Financial. Sometimes, after calculating exactly how much you need, it’s best to borrow just a little over the personal loan because of fees like originating and prepayment fees.

Compare Lenders

There’d be many more lenders that offer the same type of loan, giving an installment loan provider like OneMain Financial worthy competition. So, at all times, you should always compare the loan products and services, such as credit counseling, given by these companies before you settle for one.

Features you should be looking for and comparing with these lenders include fees, loan amount, loan repayment, and processing times. These features and how they affect your decision are detailed in the following headings.

Fees

Personal loans from different lenders can come with several different fees. The amount and number of fees you’re paying should be a major influence on your loan decision with a lender. Depending on the lender, you might be asked to pay fees such as an originating fee, prepayment fee, administration fee, and late payment fee.

An originating fee comes with opening a checking account with the provider, and it’s demanded by virtually all financial institutions. The prepayment fee is a charge that comes with paying off your debt early. Late payment fees come with not meeting your scheduled payments, and the administration fee covers the processing of your home application.

APR

This is the annual percentage rate on loan products, and it’s the yearly rate charged by lenders on installment loans, no credit personal loans, and a lot more. For the notorious payday loan by any lender, this APR can go as high as 300%. This is an exorbitant rate, and you should be wary of personal or installment loans like this to not fall into more debt.

Asides from this, a cash advance from a reputable lender typically goes from about 8% – 36%, depending on the loan amount. This APR should be top on your considerations list when picking a lender with SpotLoan qualities. You should be able to pay the loan and APR conveniently as scheduled.

Loan Amount

The loan amount offered by the lender is another important consideration with picking SpotLoan-like lenders. Lenders like Upstart can give you as low as $1000 in personal and installment loans, while some others don’t start till $2,500. The broader the loan amount limit, the better your chances are of getting better fees, rates, and loan terms.

Depending on what you want to use the loan for, there are online lenders with SpotLoan qualities that lend up to $50,000 and above. This especially comes in handy for entrepreneurs who want an installment loan for their businesses. So, when comparing lenders, be sure to look at the cash amount they offer.

Loan Repayment

The most important part of getting a loan is repaying it and doing so as agreed by you and the lender. Fortunately, these cash advances are offered with a loan term stated explicitly on how long you should repay them.

Some vendors keep the loan term between 24 – 36 months, while others can extend it to about five years, regardless of the amount. However, the more the number of months to repay, the higher the APR you might get on the loan.

With these repayment terms, you can make informed decisions on how to pay the installment loans monthly, depending on your income size. Lastly, the longer the terms, the longer the time it will take you to qualify for another loan.

Processing Time

The time it takes for the loan provider to approve your request and credit your account also matters during selection. Where you’re getting the 300 loan also matters, as traditional banks take a much longer time to get your requests approved than online lenders. Financial institutions and credit unions can take 3 – 7 business days, while online lenders will grant your loan by the next business day. If you need the loan urgently, then you want to apply with an online lender.

Decide On The Lender And Check Requirements

With places like Spotloan listed above, you can make informed decisions on what lending platform you want to apply with. After a proper assessment of the conditions that favor you, it’s time to assess the general requirements and special requirements that may be demanded of the loan provider.

The general requirements to lend from any of these service providers in the United States include a valid photo ID issued by the government, social security number, bank statements, an email address, and documents detailing your personal information, and you must be at least 18 years.

Special requirements from the lenders may include a credit check to know your credit score and borrower’s history. Asides from this credit information, the lender might also ask for your bank details and annual income.

Apply

With this knowledge of SpotLoan and similar providers, you now understand what to look for in a loan provider. Considering your financial situation and what you need the money for, you can apply for a loan amount from these vendors. Applying is probably the easiest with online lenders, as you can log onto a provider’s official website and initiate the application process in a few minutes.

Submit the necessary documents to verify your eligibility, and if you meet the criteria, you’d have your loan approval within hours. By the following business day, you should have your funds deposited in the account provided by the installment loan provider.

With all rights reserved, this list of alternative lenders on this comparison platform, like SpotLoan is long enough. As an advertiser disclosure, no matter what option you’ll end up with, it’s always smart to review the offers and compare the rates of several best companies to refinance car loan or to get quick cash. Don’t sign the agreement until you’re sure of your choice.