Reviewed by Latoria Williams LoanNow takes pride in shaking up the lending business by looking at people’s situations, not just their credit scores. They shape their loans to work for all kinds of credit backgrounds. The company provides quick loans for emergencies and installment loans. The available loan amounts vary between $2,500 and $5,000.
Unlike other places, LoanNow lets you manage your loan yourself. If you invite your loved ones to vouch for you, you’ll earn credits to lighten the repayment load. Their loans come with clear, fair terms plus excellent customer service. They even created handy online tools and information to make things easier. Although there are advantages, the APR may be high, ranging between 29% and 229%.
Loan Alternatives to LoanNow
Here are several alternative options you can use instead of LoanNow loans:
Payday Loans
Payday loans let you borrow money quickly over 2 or 4 weeks. They work well when surprise bills pop up, or your paychecks only partially cover everything between them. These quick cash loans tend to be for smaller amounts (up to $1,000) than long-term loans from a bank. You don’t put up collateral, but the catch is higher interest rates (often over 375%) since the lender needs more security.
Bad Credit Personal Loans
Bad credit loans help people with poor credit scores or little credit history get cash when needed. They come with higher loan amounts of up to $50,000 and longer repayment terms that may reach 60 months. However, the downside is that they often have higher interest rates and rigid rules. These loans come with no hard credit checks for low-credit consumers. At 1F Cash Advance, we also offer such options and can help borrowers get bad credit cash loan offers with no hassle.
Car Title Loans
Car title loans are short-term ways to get money fast for unexpected expenses or emergencies by using your car as collateral. The exact loan amount is calculated based on the car’s market value, with the sum often ranging between 25% and 50% of the vehicle’s price. The repayment term varies between 15 and 30 days.
Loan Providers like LoanNow
Upstart
|
Loan Terms |
Amounts |
APR |
Fees |
Credit Score |
|
36 – 60 months |
$1,000 – $50,000 |
6.40% – 35.99% |
Up to 10% |
300 |
Possible Finance
|
Loan Terms |
Amounts |
APR |
Fees |
Credit Score |
|
14 – 60 days |
$100 – $500 |
Up to 214% |
$8 or $16 monthly fee |
600 |
OppLoans
|
Loan Terms |
Amounts |
APR |
Fees |
Credit Score |
|
6 – 60 months |
$500 – $4,000 |
59% – 160% |
Up to 10% |
none |
MoneyLion
|
Loan Terms |
Amounts |
APR |
Fees |
Credit Score |
|
7 – 36 months |
$100 – $1,000 |
0% – 29.99% |
none |
none |
How We Picked These Loan Products
At 1F Cash Advance, we want to help you make good money choices. We are not paid by the companies we talk about; we’re always straight with you about that. The opinions here are just ours. We keep the reviews and content we write accurate. After our experts dig into the details, such as credit score requirements, repayment terms, interest rates, and additional fees, they provide an overall conclusion. We’re laying it out here so you can pick a good match if you need cash.
How to Choose Between LoanNow and the Alternatives?
When trying to decide whether to go with LoanNow or look into other loan options, there are a few key things you’ll want to think about:
- Take a look at the interest rates being offered. LoanNow’s rates might be better or worse than those of other lenders. Lower rates typically mean lower borrowing costs, but watch out for introductory rates that get jacked up later.
- Check out the repayment terms they offer. If the terms are extended, your monthly payments will be lower, but that also means more interest paid over the life of the loan. Shorter terms come with higher monthly payments but less interest overall.
- Consider what kind of credit score you need for each lender. Some places will give loans to people with lower scores, but the rates usually tend to be higher. Others only approve people with really high scores.
- Keep an eye out for things that could make the loans too expensive. Some extra fees can make the loans way harder to pay back. There might be origination fees, early payment fees, or late payment penalties you need to know about upfront.
Pros and Cons of LoanNow
Pros
- Fast approval process
- Quick funding
- Credit building option
- No prepayment fees
Cons
- High-interest rates
- Not available in all states
- Hard credit checks are performed
How Does 1F Cash Advance Compare?
1F Cash Advance set out to help consumers get the money they need when financial surprises pop up in their day-to-day lives. We want to make borrowing as smooth as possible for Americans in a tight spot. Swing by one of our 81 storefronts or send us an online loan request if you need help.
Applying online is one of the fastest ways to get your loan application greenlit. Submitting your application online saves time and hassle. Our system sends your request to hundreds of lenders simultaneously, meaning you can reach multiple offers with terms you can handle.
Benefits
- A vast network of trustworthy direct lenders
- Instant approval decision
- Same-day funding options available
- Good credit is not required
- No hard credit pulls
- Direct deposit in 24 hours
Eligibility Requirements
To get some quick cash from 1F Cash Advance, you’ll need to meet these requirements:
- be 21 or older;
- have a valid ID/driver’s license;
- have an open checking account;
- provide your phone number;
- show you’ve got a steady income.
How to Apply
- Have the information at hand. Prepare all the information that you need to provide.
- Fill in the request form. Complete the application form accurately with the data and cross-check for accuracy.
- If approved, sign the loan agreement electronically and receive your money within a business day.
Repayment Process
If you borrow a payday loan, the principal amount and fee will be automatically withdrawn from your checking account on the due date. If you opt for an installment loan, the lender will withdraw the monthly payment on the due date.
Conclusion
LoanNow looks at people’s situations, not just their credit scores. It offers quick loans for emergencies and installment loans, which can work for consumers with different credit backgrounds. The payments are manageable, and you can earn credits by asking your relatives to vouch for you.
However, you should explore other options to find the best fit for your needs. Payday loans, bad credit personal loans, and car title loans could also work. Other lenders like Upstart Possible Finance, OppLoans, and MoneyLion have different loan rules and interest rates that could match different situations.
Before making your pick, look hard at the interest rates, how long you have to pay it back, what credit score you need, and any fees that might get slapped on. Also, consider any features that could impact the overall cost and how easy it is to deal with the loan. If you find it difficult to choose the right lender, 1F Cash Advance can help. We work with trustworthy loan providers ready to offer you suitable loan products.
Learn If You Qualify for a Small Loan NowApply
