Things are getting more expensive these days, whether you’re at the gas pump or the grocery store. Sometimes, that means you might need to take out a small loan or line of credit to help you afford basic necessities. You have many options when choosing a lender, and Lendly is one of them.
Need cash, like, right now? EarnIn lets eligible users access up to $300 from their earned wages with no interest or mandatory fees.¹ First-time users may be eligible for expedited funding at no cost.²
EarnIn does not charge interest on Cash Outs or mandatory fees for standard transfers, which usually take 1-2 business days. For faster transfers, you can choose the Lightning Speed option and pay a fee to receive funds within 30 minutes. Lightning Speed may not be available at all times and/or to all customers. Restrictions and terms apply; see the Lightning Speed Fee Table and Cash Out User Agreement for details and eligibility requirements. Tips are optional and do not affect the quality or availability of services.
Lightning Speed is an optional service that allows you to expedite the transfer of funds for a fee. Depending on the product, the fee may be charged by EarnIn or its banking partner. Lightning Speed may not be available in all states and/or to all customers. Restrictions and terms apply. See the Lightning Speed Fee Table for details.
Lendly offers online installment loans up to $2,000 and lines of credit up to $1,500. Customers like Lendly because it has flexible borrowing requirements and funds loans quickly. However, the annual percentage rates (APR) are sky-high (225%). Because of that, we’ve researched five Lendly alternatives to consider instead.
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Alternatives to Lendly
1. EarnIn
Why it’s better than Lendly
EarnIn is a cash advance app that allows employed borrowers to get paid early. You need to give EarnIn access to your bank account to use it. When you do, you can borrow up to $1,000 per pay period. EarnIn withdraws the funds you owe, plus any fees, when you get your next paycheck.
Unlike Lendly, EarnIn doesn’t charge high interest costs. Instead, the company earns money by charging fees for fast funding. Customers can get funding within one to two business days at no fee, or pay between $2.99 and $5.99 to receive money within minutes.
- Does not charge interest like Lendly
- Don’t need to be employed full-time
- Apply through a simple app
- You can only borrow up to $1,000 (Lendly allows up to $2,000)
| Max. advance | $1,000 per pay period |
| Fees | $0 for standard delivery (1–3 days); $2.99 for Lightning Speed |
| Direct deposit required? | Yes |
| Credit check? | No |
2. Upstart short-term relief loans
Why it’s better than Lendly
Upstart is a lender that uses artificial intelligence to evaluate borrowers using up to 2,500 data points, allowing more applicants to be approved for a loan. These include income, educational history, employment status, and more.
Upstart’s short-term relief loans allow you to take out up to $2,500 for three to 18 months. You’ll make equal monthly payments, and Upstart caps interest rates at 35.99% APR, far lower than Lendly’s APR.
- Much lower rates than Lendly
- Discloses fees before applying; no hidden fees
- Flexible repayment terms; choose to repay a short-term relief loan over three to 18 months
- Can only borrow up to $2,500 with the short-term loan option
- Origination fees are built into the APR
| Rates (APR) | Up to 35.99% |
| Loan amounts | $200 – $2,500 (for short-term relief loans; Upstart also offers traditional personal loans up to $75,000) |
| Repayment terms | 3 – 18 months (3 – 5 years for traditional personal loans) |
| Funding time | Next business day |
| Min. credit score | 300 (lowest possible) |
3. Prosper
Why it’s better than Lendly
Prosper is unique because it was the first peer-to-peer lending marketplace. Today, Prosper offers personal loans up to $50,000. Borrowers with credit scores as low as 560 can apply.
Those who qualify can get loans with interest rates much lower than Lendy’s 255% APR. Plus, with Prosper, you can repay your loan over up to five years, giving you more flexibility.
- Loans up to $50,000
- Terms up to 5 years
- Much lower rates than Lendly
- Origination fee of up to 7.99% (included in APR)
| Rates (APR) | 8.99% – 35.99% (includes 1% – 7.99% origination fee) |
| Loan amounts | $2,000 – $50,000 |
| Repayment terms | 2 – 5 years |
| Funding time | As soon as 1 business day |
| Min. credit score | 560 |
4. Oportun
Why it’s better than Lendly
Oportun is a lender that offers loans to customers who may not qualify for traditional bank loans. Oportun does not have a set minimum credit score requirement and offers loans to customers with poor credit histories.
Customers can borrow up to $10,000 with Oportun, far more than Lendly offers, and Oportun caps APRs at 35.99%.
- Loans up to $10,000, far more than Lendly
- Much lower interest rate than Lendly
- No application or prepayment fees.
- Can apply with a cosigner.
- Interest rates may be higher than those of the best personal loan lenders
| Rates (APR) | Up to 35.99% |
| Loan amounts | $300 – $10,000 |
| Repayment terms | Based on loan size, rate, fees, and terms. Payments are fixed installments. |
| Funding time | Within 1 business day |
| Min. credit score | None |
5. Opploans
Why it’s better than Lendly
OppLoans is a lender that provides same-day funding of up to $4,000 to borrowers. OppLoans is unique because it approves borrowers based on several factors, including income, ability to repay, and bank account activity. However, its interest rates are above 100% APR.
Still, OppLoans’ APRs are lower than Lendly’s. Plus, you may be able to borrow more with OppLoans.
- Borrow up to $4,000
- Offers financial education
- No hard credit check
- Interest rates are more than 100%
- Max repayment term is 18 months
| Rates (APR) | More than 100% |
| Loan amounts | $500 – $4,000 |
| Repayment terms | 9 – 18 months |
| Funding time | Same day |
| Min. credit score | None |
Bonus option: Payday Alternative Loans (PALs)
Why they’re better than Lendly
PALs are another option you can consider if you need to borrow a small amount. Federal credit unions offer these loans specifically to help people avoid taking out predatory payday loans. PALs have interest rates that banks cap at 28%.
Usually, you can borrow up to $2,000 for these loans, and often, credit unions will offer free financial counseling to those who need it. Keep in mind, though, that you’ll typically need to become a member of the credit union to get a payday alternative loan.
Pros
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Much lower interest rates than Lendly
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Some credit unions offer free financial counseling; Lendly does not
Cons
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Must join a credit union to participate
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Funding may be slower than other options on this list
Benefits of Lendly alternatives
Lendly has positive reviews and accepts borrowers with less-than-ideal credit. However, it’s not available in every state and has super-high interest rates. For those reasons, it’s wise to shop around. The companies mentioned above include some of the best personal loan lenders and the best cash advance app.
These lenders can offer customers short-term loans just like Lendly, but with far more competitive interest rates. That means you’ll pay less overall on a loan, which should help you get back on track much faster.
Recap of the best loans like Lendly
Article sources
At LendEDU, our writers and editors rely on primary sources, such as government data and websites, industry reports and whitepapers, and interviews with experts and company representatives. We also reference reputable company websites and research from established publishers. This approach allows us to produce content that is accurate, unbiased, and supported by reliable evidence. Read more about our editorial standards.
- MyCreditUnion.gov, Payday Alternative Loans
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About our contributors
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Written by Catherine CollinsCatherine Collins is a personal finance writer and author with more than 10 years of experience writing for top personal finance publications. As a mother to boy/girl twins, she is passionate about helping women and children learn about money and entrepreneurship. Cat is also the co-host of the Five Year You podcast.
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Edited by Kristen Barrett, MATKristen Barrett is a managing editor at LendEDU. She lives in Cincinnati, Ohio, with her wife and their three senior rescue dogs. She has edited and written personal finance content since 2015.