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5 Lenders Offering Easy Loans

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The US economy runs on credit. More than 48 million Americans have some form of debt. While credit card debt is one of the most common, a credit card may not always be enough for most people. Hence, it is common for people to look for loans.

The problem, however, is that loans can be hard to apply for. Rejections are common. The key lies in knowing lenders that are easy to work with and identifying the right type of loan. 

In this review, we’ll talk about five lenders that offer easy loans. These loans have simple eligibility requirements and fast payouts. 

Which Loans Qualify As Easy Online Loans?

Easy loans is a broad term that is usually used to refer to short-term loans that are easy to apply for, and have a good rate of approval. In most cases, you will be able to apply for these loans online with minimal documentation. 

Here are the two main types of quick and easy loans:

Installment loans are perfect for individuals who have a not-so-good credit score. Such loans are returned in installments, which makes them slightly more affordable. Payment terms are flexible and the maximum amount can be as high as $35,000, based on the lender and factors such as your credit score.

Payday loans are easy online loans that have short payment terms, and borrowers are only allowed smaller amounts of money. These loans are expensive but are usually available within 24 hours. In most cases, you will be expected to make the payment when you receive your next paycheck and they are usually not above $5,000.

Other kinds of quick and easy loans include car title loans and pawn shop loans. Both of these loans are secured loans that require collateral for approval. 

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5 Lenders Offering Easy Loans

If you’re looking for easy loans to get, we’ve compiled a detailed review of the most trust-worthy lenders who provide easy loans online approval:


Upgrade has been around since 2017, and is one of the few lenders operating in all US states with the exception of Iowa, Vermont, and West Virginia. 

The minimum credit score to qualify for easy online loans at Upgrade is 560. Once approved, it takes 4 days for the money to be deposited into your account. 

Loan amounts start at $1,000, and this may vary from state to state. The maximum is $35,000. The loan amount can be used for multiple purposes including home renovations and debt consolidation.

Upgrade is also one of the very few easy online loans companies that allow borrowers to borrow money for the purpose of covering business expenses. 

Flexible payment terms of 3 and 5 years are available. APR rates for Upgrade are in the range of 6.95 and 35.97 percent. The rate that you get will depend on your credit history. 

Additionally, Upgrade also charges an origination fee that can be as high as 8 percent of the borrowed loan. Moreover, there is a late fee of $10 that is levied when you are 15 days late. On the other hand, there is no prepayment penalty when you choose Upgrade for easy loans.

Here are the pros and cons of choosing Upgrade for easy online loans:

  • Lower than usual credit score requirement of 560
  • Extensive payment terms
  • Allows borrowers to use the loan to cover business expenses
  • Available in almost all US states
  • Additional charges such as the origination fee are included in the borrowed amount

Upgrade is one of the best options for easy loans and can be a great pick for applicants with a low score. 

universal-creditUniversal Credit

Universal Credit is another easy loans lender that is accessible to even those with a bad credit score. The lowest eligible credit score is 560.

Universal credit also has one of the fastest turnaround times and most applications are approved right away with the amount deposited within a working day.

Loan amounts start at $1,000 and borrowers can borrow up to $50,000 with payment terms of 3 to 5 years. This makes Universal Credit one of the best options. Very few companies offer such high amounts to lenders with a low credit score.

Borrowers are given the liberty to choose their preferred payment terms making the company highly flexible. 

APR rates at Universal Credit are market competitive starting as low as 11.69 and going as high as 35.93 percent. Moreover, borrowers are charged an origination fee of 4.25 to 8 percent. These charges are deducted from your borrowed loan amount. Hence, it is important that you calculate how much money you’ll be getting after all these deductions. 

Additionally, Universal Credit also charges a $10 late fee in case of a late payment. But a 0.5 percent discount is offered to those who sign up for autopay.

Universal Credit is available in all US states except for Washington D.C. Also, the company can be a great pick for people interested in debt consolidation. It gives the option to directly send funds to the creditor. This can help streamline the process.

Here are the pros and cons of choosing Universal Credit for quick and easy loans:

  • Excellent customer support
  • No prepayment penalty
  • Approved loans can be deposited by the next working day
  • A high origination fee starting at 4.25 percent

While Universal Credit charges a high origination fee, it is still one of the best options for easy loans due to multiple perks such as no prepayment penalties and market competitive APR rates.

Lending PointLending Point

Lending Point is a Virginia-based easy online loans provider that offers services in 48 US states. Loan amounts range from $2,000 to $36,000. However, in states like Georgia, the minimum loan amount is $3,500. 

Lending Point allows users to get an estimate of the rates and terms they’ll be offered by prequalifying for an easy loan. Prequalifying for a loan only requires a soft credit check, which will not affect your credit score. 

While payment terms at this easy loans online approval lender range from 3 to 5 years, Lending Point is one of the few lenders allowing borrowers to customize their own payment terms such as choosing a biweekly or monthly payment schedule. 

Borrowers also have the liberty to choose their own payment date, which they can change again once a year.

While the minimum APR rate starts at just 7.99 percent, the maximum APR rate at Lending Point is 35.99 percent. The high APR rate comes as a disadvantage for those with a poor or fair credit score as the rate one gets largely depends on their credit score.

An origination fee of 6 percent is also deducted from the borrowed loan amount. However, this may vary by state as some states have some limitations.

The process is straightforward and only takes a few minutes. Money is usually deposited within 24 hours. We think it can be a good option for people looking for quick cash. 

Here are the pros and cons of choosing Lending Point for easy loans:

  • Flexible and customizable payment terms
  • Low APR rates for those with good credit scoreS
  • Quick funding – usually within 24 hours
  • No prepayment penalty
  • Not available in Nevada and West Virginia

Lending Point can be a great option for people interested in quick cash. It might prove to be a little expensive for applicants with a bad credit score; however, it’s said to be very affordable for people with a good credit history.


LendingClub is one of the oldest easy online loans lenders. It was founded in 2007 and has been the top choice of over 3 million people. 

With Lending Club, borrowers can apply for loans starting as low as $1,000 and going as high as $40,000. The loans can be used for all major payments such as debt consolidation, medical bills, as well as home repairs. However, borrowers are not allowed to use the borrowed easy loans for education expenses. Also, the rate you get depends on the purpose. 

The company will ask you why you intend to apply for a loan and then make an offer. The rate is in the range of 6.34 and 35.89 percent. This is in line with what other companies offer. 

LendingClub also provides a special balance transfer loan for those who want to borrow a loan specifically for the purpose of debt consolidation. Through this type of loan, LendingClub takes care of all debt payments for you. 

Payment terms are fixed and can go up to five years, depending on the size of the loan. The company isn’t as flexible as other providers on this list.

LendingClub also charges a 2 to 6 percent origination fee which is deducted from the payout. Also, it is a little slow to process funds and it can take up to four days for the money to show up in your account.

Here are the pros and cons of choosing LendingClub for easy loans:

  • Special balance transfer loan for those who want to consolidate their debt
  • Caters to people with all sorts of credit scores
  • Low APR rates for those with a good credit score
  • Non flexible repayment terms

LendingClub can be a great option for people interested in working with a well-established name, however, it does have some major pros. Since the company offers no obligation quotes without a hard credit check, it might be a good idea to check the offer before you make a call.


Upstart is definitely one of the most unique places for easy loans online approval. It’s different from other lenders as Upstart uses an Artificial Intelligence or AI-based system. There is little to no human intervention and the AI system considers applications and determines whether or not a borrower should be accepted for a loan.

This is beneficial for applicants because Upstart has approved almost 27 percent more loans than other lending platforms. In fact, while the minimum eligible credit score has been set to 600, people with lower credit scores have been accepted as well thanks to their AI system that pays attention to other factors as well, such as the income one generates.

Loans start at $1,000 and go up to $50,000, however, you will need a good score and history with the company in order to get $50,000. 

The borrowed loan can be used for a variety of reasons, including educational expenses and debt consolidation. 

Payments terms are in the range of 3 to 5 years, which might be an issue for some but we feel that the pros overpower the cons here. On the plus side, borrowers can also choose their own payment date.

APR rates are market competitive and range from 5.4 to 35.99 percent. The offered APR rate depends on your credit score and it is decided by the AI system 

Upstart also has an extremely fast turnaround time. Loans are typically approved in a few minutes and deposited within 24 hours.

Here are the pros and cons of choosing Upstart for easy loans to get:

  • Higher chance of loan approval for those with a bad credit score
  • Borrowers can choose their own payment date
  • Borrowed loans can be used for various purposes
  • An origination fee of 8 percent is deducted from the loan amount

Easy loans from Upstart are best for individuals who want to borrow for bigger expenses as it allows borrowers to use loans for a wide variety of reasons. 

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5 Lenders Offering Easy Loans – Conclusion

That was our list of the top 5 lenders offering easy loans. If you do find one that fits your requirements, be sure to do your own research and perform factors such as payment terms and APR rate.

We must mention that while these loans are easy to get, not being able to pay in a timely manner could impact your credit score and make future applications harder to approve.

Frequently Asked Questions

Do you still have questions about easy loans and how you can get one? We have covered. Check our FAQ section to get answers:

How long do loans take to process?

Loans these days usually take less than 30 minutes to process as applications can be submitted online. However, banks still typically take longer and require more paperwork, which is why it is best to use a direct lender or marketplace. We have highlighted some of the best easy loan providers above.

Are loans easy to get?

Loans these days are very easy to get as there are a high number of lenders and some even cater to people with no job or credit history. 

Will I also have to pay back the principal amount?

Yes, both interest and principal have to be paid back. How the money is paid back depends on repayment terms that change from lender to lender. Make sure to discuss this when applying for a loan so that there are no surprises.

What is a loan marketplace?

A lender or loan marketplace is a platform or website that allows borrowers to choose from a number of lenders. These sites are not direct lenders and they only bridge the gap between borrowers and sellers by bringing them under a single platform. Most of these marketplaces are easy to use and do not charge additional fees.

Can my easy loan application get rejected?

Yes, an easy loan application can get rejected due to a number of reasons. First of all, only apply if you meet all eligibility requirements. 

Is it possible to change my loan terms?

Loans can be refinanced, however, the process is usually lengthy and requires the submission of a variety of documents. Still, it is possible to change the terms of your loan including the interest rate and payment terms. You will have to submit a request and your lender will have the option to accept or reject it. Lenders are more likely to accept such requests if you prove that new terms will make it easier for you to make payments.

How long do easy loans take to get deposited?

Most loans are approved instantly and get deposited in 24-48 hours, however, some companies take longer. 

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