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Fast Cash with Instant Approval Loans from LoanNow

When you’re facing a financial emergency, you don’t want to wait weeks for a decision for a bank loan application. If your utilities are due to be shut off tomorrow, you need money immediately. In such circumstances, you might get a credit card advance or resort to dealing with a pawn shop. If those options are not available, instant loans often sound very appealing. But turning to payday lenders promising instant loans for the money you need could produce an instant crisis that could require months – if not years – to straighten out. LoanNow also provides instant loans for many borrowers, and represents a safer alternative to payday loans.

installment loansCredit Card Cash Advances – Instant Loans, with a Catch

You might not think of credit card advances as loans, but that’s what they are. If your credit limit is high enough and you haven’t maxed out your account, you could obtain instant loan approval in the form of an ATM withdrawal. Credit card companies place a premium on convenience, in the form of higher APRs for cash advances, and no grace period – interest charges begin to accrue as soon as you have the money in your hand. 

Loans from Friends and Family Can Put Relationships at Risk

If you only need 20 bucks until Friday, friends and family can often help out. They will often hand you money on the spot with no strings attached. If you have the proverbial rich uncle or generous parents, you may be able to borrower larger sums with or without a formal agreement. These types of instant loans carry few risks, unless you make a habit of failing to repay what you owe, which could have a definite negative effect on your personal relationships.

Pawn Shop Instant Loans Require Collateral on the Spot

Pawn shops also provide instant loans, with no questions asked, provided you have merchandise that they consider valuable. You may not like the idea of hocking your class ring or the silver place settings Aunt Gertrude gave you as a wedding gift but if you’re desperate for money and cannot qualify for a bank loan, that’s what you have to do. The risks associated with instant loans pawn shops are obvious: if you fail to repay the loan – with a healthy dose of interest applied – by the deadline, usually 30 or 60 days later, you relinquish your property for good.

Some Instant Loans Translate Into Long-Term Debt

Let’s say you don’t have an Aunt Gertrude or you never bought your class ring. You may be drawn to brick and mortar establishments or online sites that advertise instant loans with no credit check. What these lenders don’t say is that those instant loans often carry long term consequences because of the combination of required lump sum payments, high interest rates and unrealistically short repayment periods that are gauged to match your pay dates or dates that you receive government or pension checks.

If you’re paid every week, you could be required to repay the entire loan within one week. Many lenders can’t manage that, but payday lenders have a solution – loan rollovers. In exchange for making token payments, borrowers are given a new loan to pay off the original loan – with a fresh set of fees and interest charges. After a few cycles of token payments and rollovers, many instant loans become ongoing headaches, with borrowers owing many times more than they originally paid.

Such establishments may be called check cashing stores or even currency exchanges, although both names are somewhat misleading. Whatever the label, these subprime lenders operate pretty much the same way: you present your paperwork, including proof of income you receive instant loan approval. The lender collects payment for your loan on the specified date, which is usually on or immediately after your next pay period. If your checks bounce, or if your ACH payment is declined, you’re faced with charges from your bank and the payday loan store – along with still owing your original loan. And each failed withdrawal generates stiff fees from the lender and your bank.

LoanNow Provides the Cash You Need when You Need It!installment loans

LoanNow doesn’t require you to choose between waiting weeks for a bank decision or resorting to desperate measures like putting your possessions in hock. Thanks to our technology driven model, we can provide nearly instant loan approval. With LoanNow, you’re more than your FICO score or your credit report. We consider your entire financial profile in making our lending decisions, and we approve many prospective borrowers turned down by banks.

We never require collateral, and we say NO to the endless debt trap of partial payments and rollovers. If you fall behind on your payments, we work with you to get you back on track. And borrowers who maintain consistent on-time payments are rewarded with better terms on future LoanNow loans. With LoanNow You get the money you need with repayment terms you can live with. That’s the LoanNow difference!

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Why LoanNow

  • 5-Minute Application

    All it takes is a few minutes. We’re fast, easy and headache-free.

  • Fast & Easy Approval

    Get your quick loan approval online. Money in minutes. †

  • Deposit to Your Account

    Funds are deposited fast into your bank account! ‡

How It Works

  • Apply Now

    Complete our easy online application. It takes 5 minutes and there is no paperwork and no faxing required.

  • Get Approved

    You will get a quick loan approval decision. We are a direct lender so there is no long wait for an answer.

  • Get Your Money

    We deposit your money right into your bank account. Your installment loan payments come from the same account - automatic, no hassles.

What We're About

  • "We believe we can change the world by helping people with less than great credit get back on track."

    Miron, The Team

  • "Our loans reward you for good behavior instead of trapping you in an endless spiral of interest & penalties."

    Harry, The Team

  • "Our mission is to build the fastest & easiest way to get a loan."

    Jesse, The Team

Grow Your Score

Our personal loans reward you for good behavior instead of trapping you in an endless spiral of interest & penalties. Together, we grow your LoanNow score to unlock better rates.

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* Funds will be distributed via ACH. Most banks will post the funds to your account by the next business day. Subject to underwriting approval.

** Subject to online availability and underwriting may request additional items prior to final approval.

† Loan approvals are subject to underwriting criteria and the approval process may take longer if required items are not able to be verified online or additional items are requested.

‡ Funds will be distributed via ACH. Most banks will post the funds to your account by the next business day. One’s bank will determine when funds are actually available.

LoanNow Trustpilot Rating: 9.3 out of 10 based on 570 reviews as of March 2016. SuperMoney Rating: 9.5 out of 10 based on 55 reviews.