Loan Apps Like Dave, SoLo, Brigit, Earnin, MoneyLion, PossibleFinance

ElitePersonalFinance
Last Update: October 12, 2023 Answers Apps Banking Loan Reviews Loans

If you suffer unexpected financial hardship, there are affordable options to help you weather the storm. For example, if you need $50, $100, or $300, you may think that payday loans are your only option. However, several reliable cash advance apps help finance borrowers with bad credit.

For your reference, ElitePersonalFinance continuously scans the marketplace to find payday loan alternatives for people with bad credit. And if you’re unfamiliar, payday loans have an average APR of 400% and can trap you in a cycle of debt. Along the way, they can also ruin your credit.

Conversely, cash advance apps offer affordable financing and reasonable terms. As a result, apps like Dave, Brigit, Earnin, and MoneyLion can provide funds to hold you over until your next paycheck arrives.

Pros:

  • Cash advance apps offer cheaper financing for borrowers with bad credit.
  • Many cash advance apps don’t charge interest.

Cons:

  • Loans typically max at $300.
  • Many cash advance apps have membership fees or charge administrative fees.

Thus, before submitting your application, you should consider all of your options. For example, personal loans have higher loan amounts of up to $100,000 and can even reach upwards of $250,000 under certain circumstances. Moreover, repayment terms are much more flexible, and cheap APRs of 5.99% to 35.99% make personal loans more affordable than payday loans. Therefore, please visit our marketplace and browse your available options to learn more.

Best Cash Advance Apps of February 2024

While there are plenty of cash advance apps in the marketplace, there are also plenty of scams. For example, bad actors try to take advantage of the momentum when an industry experiences rapid growth. Moreover, we found that some cash advance apps are payday loan sites in disguise.

But how do you spot them?

If you find an app that mentions a 400% APR, it’s a payday loan provider. And we recommenced that you avoid these platforms, as there are much better options available.

ElitePersonalFinance only covers legitimate cash advance apps. We don’t list or review any payday loan apps!

Lender:Loan Amount:APR:Fees:Credit Check:
DaveUp to $2500%
  • $1/mo.
  • $1.99 to $5.99 for same-day cash advances
No
SoLo FundsUp to $5003% – 10%
  • $0/mo.
  • Late payment fee is 15% of the loan amount + $5
No
BrigitUp to $2500%
  • $9.99/mo.
No
EarninUp to $150/Day or $500/Period0%
  • $0/mo.
  • Up to $3.99 per $100 for same-day cash advances (first is free)
No
MoneyLionUp to $2500%
  • $0/mo.
  • $1.99 to $7.99 for immediate cash advances
No
PossibleUp to $500150% – 200%
  • $0/mo.
No
VolaUp to $3000%
  • $4.99/mo.
No
VaroUp to $1000%
  • $0/mo.
  • $3 to $5 per cash advance
No
Albert Up to $2500%
  • $0/mo.
  • $6.99 per cash advance to an external bank account
No
ChimeUp to $2000%
  • $0/mo.
No
EmpowerUp to $2500%
  • $8/mo.
No
BranchUp to $150/Day or $500/Period0%
  • $0/mo.
  • $2.99 to $4.99 for same-day cash advances to an external bank account
No
CleoUp to $1000%
  • $5.99/mo.
  • $3.99 for same-day cash advances
No</