Are Quick loans no credit check possible?

When you have bad credit or no credit but need a loan as quickly as possible, where do you turn?

When looking to take out a large, long-term loan to purchase a house or another major investment, you can probably afford to wait for weeks on end to get an approval. But when you are in need of cash fast for a relatively small, short-term loan, you don’t have time to waste.

It is obvious that a traditional bank loan would be too slow and too unlikely to get approved in this situation. Title loans require you own your car free and clear and then put it up as collateral and risk losing it. And a credit card may not give you enough of a credit line or may not be an option for you.

Two of the most readily available possible solutions when you need cash to fill a short term obligation are online payday loans or personal installment loans.

Quick loans are needed fill a important space in the lending market and meet a basic need of many with below-average credit scores but who are willing and able to repay their loans on time.

Request your same day loan. Need more information? Check out for our tips on same day loans.

What Kind of Loans Are Quick Loans?

When you are faced with an emergency financial situation, need to quickly finance an important home improvement project, need to acquire transportation for college, or a host of other scenarios, you typically have several options within the world of no credit check financing.

If you own a car free and clear (no liens on the title), you could take out a title loan, but that would risk your vehicle. And some title loan lenders don’t even let your drive your car while using it as collateral for the loan.

You could take out a payday loan online no credit check instant approval. But these loans are not possible have the highest interest and fees of virtually any loan-type. And you will have little flexibility since you must repay in full by your next paycheck (2 or 4 weeks, normally).

An online personal loan, such as we offer at Bonsai Finance, is the ideal way to secure a loan, although a quick loan no credit check is not possible. A personal loan has many advantages, including these:

  • No collateral is needed to secure the loan.
  • You get a longer period of time to repay, ranging from a few months to a couple years.
  • You repay in regular monthly installments that are sized to make them affordable based on your income.
  • You have more flexibility in loan amount. At Bonsai, we allow loans ranging from $100 to $5,000.
  • Terms are more flexible as well with short-term personal loans.
  • By making your installment payments on time, you can improve your credit rating.

Are Bonsai Finance quick loans no credit check possible?

Given that a small, no-collateral bad credit personal loan guaranteed approval is your best lending option for a fast-cash loan, although you might be looking for a loan with no credit check needed, what sets us at Bonsai Finance apart from other personal loan lenders?

At Bonsai, we make the process as simple and quick as possible. We ask only for essential, basic information on your request form. We allow you to complete all (or in rare cases nearly all) of your paperwork online.

You can begin the request anytime 24/7 and finish it within in minutes. The approval then comes very quickly. And you will not be disapproved for bad credit loans since we base approvals on ability to repay not on credit history.

We direct deposit cash into your account as soon as the next business day, and there are no “rules” on how you can use it.

Bonsai entered the small personal loans market to fill a void by providing affordable loans delivered fast to your account. We do just that.

Two types of quick loans no credit check are not possible

When you need to access quick loans that require no credit check are not possible, your best place to look is the Internet. After all, when a loan can be requested, approved of, and processed without ever leaving the comfort of your own home (or computer chair), it makes the whole process much quicker and much more convenient.

The two most common forms of quick-cash loans you’ll find online are payday loans no credit check and personal loans. These two loans differ in a number of ways and serve somewhat different purposes.

Payday loans online have the following features:

  • Very small loans, usually $100 to $1,000.
  • Collateral and an active checking account may sometimes be required.
  • To be repaid in one lump sum in 2 to 4 weeks, out of your next pay check.
  • Terms fairly limited and APR relatively high, though total interest paid may be small due to small loan size.

Personal loans are characterized by:

  • Medium-sized loans, often $1,000 to $5,000.
  • No collateral needed, but US bank account required.
  • Repaid in monthly installments over a period of a few months to a few years.
  • Terms more flexible, APR somewhat lower than most payday loans.

Which loan type is right for me?

Which loan-type to choose will depend on your needs. Ask yourself such questions as:

  1. How much do I need to borrow to get through this financial difficulty?
  2. Can I reasonably expect to repay in full in a month or less, or do I need more time?
  3. How highly do I value flexibility of loan terms? Do I need just a “basic loan,” or do I want a more “customized” package?

What benefits do quick loans no credit check are not possible offer?

There are a number of important benefits to no credit check loans that require not credit check, some obvious, some less so. Here are some of the main advantages they offer:

  • Quick request process (minutes only) and very fast approval (almost always.)
  • Only minimal information is required on the short, simple request forms.
  • Your borrowed cash can be deposited as soon as next business day in many cases.
  • Approval is not based upon credit score but on your verifiable income, showing your ability to repay.
  • Lack of a credit check saves time, de-complicates the process, and prevents the damage credit checks can do to your credit score.