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The Top-Rated Online Payday Loan Direct Lenders: We Did the Research

Ten to twelve million Americans request payday loans every year.

Payday loans online are designed to give people quick cash in between paychecks.

It can be hard to cover the basic costs of living in between employment income. This is especially the case if unexpected costs–like medical bills–arise!

There are scores of payday loan lenders out there waiting to help you get the cash you need. But which lenders are the best?

We did the research, and here are the answers. Keep reading to find out who the top-rated online payday loan direct lenders are!

What is a Payday Loan?

A payday loan is, for the most part, what it sounds like: a bad credit loandesigned to give individuals a cash “advance” ahead of their next paycheck.

Most employers pay their employees every two weeks. Some, however, may only pay their workers once a month.

Others may be even more inconsistent. This can be tough for individuals who find it hard to manage costs of living as it is.

Payday loans exist to partially alleviate this burden. Lenders often offer cash loans without requiring a credit check, and borrowers can receive these funds as quickly as the next day.

It’s important to note that payday loans do often come attached to high-interest rates. They may also have quick repayment terms, requiring people to pay back the money they’ve borrowed by their next payday.

Learn more about payday loans here.

Unfortunately, some payday loan lenders are not as reputable as others. It is possible to run into scams.

It is even more likely that borrowers will encounter egregiously high APRs and strict repayment terms.

For this reason, it’s important to ensure that you are securing a payday loan no credit check from a top-rated lender. What’s more, be sure you request funds from a direct lender.

This can eliminate any issues that can arise from third party interference or mismanagement.

Top-Rated Online Payday Loan Direct Lenders

So which payday loan providers should you be turning to for fast cash? We did the research and compiled the top-rated online direct lenders.

Please note that these lenders are online-based only. They don’t require working with any third-party companies to secure a loan.

1. CashNet USA

CashNet USA is one of the most well-known and reputable lenders of installment loans, including payday loans.

In fact, this lender consistently ranks highly with consumers, according to Consumer Affairs reports. According to its website, it’s helped over 3 million customers.

CashNet USA offers individuals loans of up to $1,800. (Please note that this number may vary by state.)

You can apply on this direct lender’s website and receive an immediate decision.

What’s more, you don’t need to undergo a hard credit check to apply making these a good alternative for personal loans no credit check. This is valuable for people who have bad credit to begin with.

Remember that hard credit checks do affect your credit score, a number that can influence your eligibility for other loans and credit card accounts.

This lender promises zero hidden fees or paperwork. You can expect to get funds as early as the same day you apply!

You can also apply for brokered installment loans through CashNet USA. This lender also offers prospective borrowers a host of free financial tools on its website.

This is a good sign! A lender that is invested in its borrowers’ financial health is more likely to be reputable.

Lastly, CashNet USA’s customer support team is U.S.-based and available 24/7.

2. OppLoans

OppLoans offers customers affordable service and fast funding. It also currently has an A+ rating on the Better Business Bureau!

What makes this direct lender reputable?

OppLoans has helped over 100,000 customers get the financial aid they require.

It also offers radically lower APRs than industry standards. A lot of payday loans, for example, can carry APRs as high as 400%.

OppLoans, however, offers a maximum of 199% APR per loan, depending on state lending caps.

This direct lender also offers personal customer service. This can be essential for borrowers who are new to lending of any kind.

Applying for a payday loan through OppLoans will not affect your credit score in any way. You can easily request funds through this lender’s website, and often receive funds within a few business days.

Keep in mind that OppLoans does have minimum income requirements for its borrowers. You also have to be able to receive direct deposit.

How much can you get from OppLoans? This lender can approve borrowers for up to $5,000. You can even qualify for repayment terms of up to 36 months.

3. LendUp

LendUp is making headway as one of the most highly rated online direct lenders of payday loans.

It describes itself on its website as “socially responsible,” one dedicated to helping customers meet their short-term financial needs.

The best part about this lender?

All you need to qualify is a checking account that can receive electronic transfers. You also need to be at least eighteen years of age.

Applying for a payday loan through LendUp does not impact your FICO credit score. This means that you can safely request funds without hindering credit you are trying to build.

A LendUp installment loan application takes a matter of minutes, and most borrowers can receive funds within 24 hours of approval.

It’s important to note that LendUp requires smaller payday loans. Most borrowers are only able to request $200 at a time and must pay this back by their next payday.

This lender promises to offer transparent repayment terms. You don’t have to worry about any hidden fees or tricky fine print!

Customers everywhere are raving about LendUp. This direct lender averages 9.5 stars out of ten on Trustpilot.

Final Thoughts: Payday Loan Direct Lenders

If you’ve decided that a payday loan is right for you, make sure you secure your funds from a reputable personal loans online lender.

Most importantly, look for direct lenders. These lenders don’t have to deal with third parties or other companies to get you the cash you need.

You can’t go wrong with any of the online payday loan direct lenders on this list.

Are you ready to secure your payday loan! Read this easy tips for doing so first! Here are some other articles you might find interesting:

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Installment loans vs payday loans – what’s the difference?

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