Loans like Lendly: 5 Best Alternatives




According to a study, around 12 million Americans take out a short-term loan every year; and with inflation on the rise, more and more people are looking for these kinds of loans. 

One of the most trusted names when it comes to short loans is Lendly loan. However, qualifying for Lendly loans can be a little difficult, hence it might be a good idea to look for Lendly loans alternatives, i.e.: companies that offer short-term loans but with fewer restrictions. In this article, we’ll talk about Lendly alternatives and highlight some of the best options.

What is Lendly Loans and Why is it so Popular?

Lendly is a well-known company offering loans ranging between $1,000 to $2,000. But. that isn’t what makes Lendly loans so popular. The company enjoys 4.7 stars on Trustpilot and has a reputation for being reliable.

Most Lendly reviews praise the platform for being a trustworthy lending option. Moreover, it is known for catering to people with poor credit scores. The company has clear eligibility requirements and loans are typically given on the basis of income and credit scores. However, unlike some other companies out there, it doesn’t put credit scores first. 

While the company is reliable, most Lendly loan reviews call the lender out for charging higher than usual APRs. The average rate is 150 percent. The company is legit and has been doing business since 2019. It is a new company but it has carved a niche by offering great customer service and simple loans. However, it does not approve all applications and is known to reject borrowers who do not have a decent score or income. 

This is the reason why most people look for loans like Lendly. They want the same easy eligibility requirements that Lendly offers but at a more affordable rate.

5 Alternatives for Loans like Lendly

While Lendly loans are popular and there are plenty of Lendly loan reviews talking about how awesome these loans are, it is also easy to find loans like Lendly that offer better rates than Lendly while being accommodating to those with bad credit scores.

Here is our list of the 5 alternatives for loans like Lendly:

possible financePossible Finance

Our number one option for loans like Lendly is Possible Finance. Even though the company was founded in 2017, it has made its name as one of the places you can turn to if you’re looking for more affordable rates than Lendly.

Through Possible Finance, you can borrow a loan of up to $500 and pay it back through the company’s app. However, this maximum loan amount may vary by state. 

Additionally, qualifying for a loan is extremely easy. You don’t need to show your credit score, but will need a regular source of income – at least $1,000 in most cases. You must have been generating this income for at least two months in order to qualify.

Almost 80 percent of all loan applications are accepted, which, according to Lendly reviews, is better than what Lendly reports. Once approved, borrowers can choose how they wish to receive the money. Debit deposits are completed instantly however, bank deposits can take up to three days.

possiblefinanceThe loan has to be paid back in equal payments that extend over two months. This means that you will have to make four payments in total.

Additionally, Possible Finance provides borrowers with a 29-day grace period, during which they can make adjustments to their set payment date.

On the downside, Possible Finance is expensive with rates between 150 and 200 percent. Though this may be high, it is still much lower than the average 175 percent that Lendly loan charges. In addition, Possible Finances charges an origination fee that can vary depending on the state you reside in. For some states, the origination fee is between $15 to $20 for every $100 borrowed. On the other hand, some states may charge an origination fee of up to 25 percent. 

On the plus side, Possible Finance does not charge a late fee or a prepayment penalty. Additionally, if you pay your loans back in a timely manner, you may have the chance to improve your credit score as Possible Finance reports to two major credit bureaus. 

Here are the pros and cons of choosing Possible Finance as an alternative to Lendly loans:


  • 85 percent loan acceptance rate
  • No credit score requirements
  • No late fee in case of a payment delay
  • Offers instant cash


  • Origination fee applies to loans and can vary by state

Possible Finance is for those who want loans like Lendly as it has very straightforward terms. Consider this option if you are looking for quick cash.

prosperProsper Loans

According to Lendly loan reviews, the company allows borrowers to lend up to $2,000. Prosper takes it a step ahead by offering up to $40,000 while keeping the same conditions as Lendly. However, the amount one gets largely depends on the credit score. The minimum is $2,000 but most borrowers will not qualify for $40,000. Those with an average score usually get approved for under $15,000. This is still a lot more than what Lendly offers.

While we have selected Prosper as a Lendly alternative, we must mention that it largely differs. Unlike Lendly, Prosper has flexible loan terms ranging from 3 to 5 years. 

Another great benefit of Prosper is the low rate. APRs are in the range of 7.95 to 25.66 percent. According to our research, we found that most applicants have to pay about 16 percent. 

There is no autopay discount, and Prosper Loans also charges an origination fee that ranges from 2.41 to 5 percent of the borrowed loans.


Additionally, borrowers will also have to incur late fees if they fail to pay within 15 days of the due date. However, according to the company, it is very lenient and may waive this fee.

While Prosper Loans markets itself as a no minimum credit score requirement lender, the average eligible credit score is 600.

Here are the pros and cons of choosing Prosper Loans for loans like Lendly:


  • Flexible loan terms
  • Excellent customer support
  • No repayment penalty
  • Large loan amounts can be borrowed


  • Charges late payment fees.

Prosper Loans has some great benefits and can be a reliable Lendly alternative. It is easy to work with and has simple requirements. Give it a try if you are looking for quick funds.


According to most Lendly loan reviews, it takes a minimum of 24 hours for an approved loan to be funded into your account when using Lendly. If you’re looking for loans like Lendly but with a faster funding time, then we recommend OppLoans. 

Borrowers can get loans ranging from $500 to $4,000. Applications are processed in a few minutes and funds are released on the same day.

Loan terms are relatively manageable and range from 6 to 18 months. Terms typically depend on the size of the loan and are typically not flexible.


APRs at OppLoans are between 59 to 160 percent, which may be high for some. However, it is still more affordable than Lendly. Furthermore, OppLoans does not offer autopay discounts or even co-signing options. OppLoans is a zero-fee lender and has no hidden charges.

Here are the pros and cons of choosing OppLoans as your alternative for loans like Lendly:


  • Same-day funding makes it a great option for people interested in quick cash
  • No minimum credit score requirements
  • Excellent customer support


  • Not available in all US states

OppLoans is a Lendly loan alternative offering quick funding, but it is not the cheapest option out there. Also, loan terms may be too short for some. Hence, make sure to look at the fine print when you choose this company. 

acecashexpressACE Cash Express

Just like Lendly loans, ACE Cash Express is another popular and established lender in the USA. Despite the lender having multiple physical stores spread out all across the country, you will not need to pay a visit to apply as the process is digital.

Just like Lendly reviews, ACE Cash only offers small loan amounts that range from $100 to $2,000. Moreover, loan terms are short, usually between 8 to 35 days. So, ACE Cash is a good option only if you need money to get you through the month before your next paycheck. 

acecashexpressACE Cash is not an affordable option though as it charges high rates – up to 300 percent. We think that it is as expensive as Lendly. On the positive side, borrowers get a 72-hour guarantee, during which they can choose to cancel loans without bearing any additional costs. Just like Lendly, ACE deposits funds within 24 hours. Also, it doesn’t require a good credit score.

Here are the pros and cons of choosing ACE Cash Express instead of Lendly loans:


  • You do not need a good credit score to qualify
  • You can cancel without penalties (within 72 hours)
  • Customers have the option to visit physical stores or apply for loans online


  • High APRs

ACE Cash Express offers short-term loans and is an expensive option. Consider it if you have no other Lendly alternatives.


With low rates and no hidden charges, LightStream is another Lendly alternative worth trying. LightStream can be a great option for people interested in large amounts as the maximum is $100,000. However, the mount changes from state to state and you must have a great credit history to get $100,000. 

With Lightstream, you only have to pay for what you want to get. Borrowers usually are offered loan terms ranging from 2 to 7 years. Surprisingly, LightStream also has some of the lowest APRs on the – starting from 4.99 and going up to 19.99 percent, which is a lot lower than Lendly. 

Borrowers get to have flexible funding options as well. You can choose to receive funds on the same day or within 30 days of approval. With this option, you will have more time to plan expenses.


While Lendly loan reviews reveal that the lender operates in only 26 states, LightStream offers its lending services in all US states, along with Washington D.C.

With all this, LightStream offers borrowers an experience guarantee. This means that unhappy borrowers can share their grievances and receive $100 within 30 days after their loan has been approved. 

Here are the pros and cons of choosing LightStream:


  • Excellent customer support
  • Very friendly payment terms
  • One of the most affordable providers


  • Loan amounts may be too high for some

LightStream is one of our favorite Lendly alternatives. However, it may not be suitable for people who only need a few hundred dollars.

5 Alternatives for Loans like Lendly – Conclusion

These were some of the best Lendly alternatives. All these companies work like Lendly and cater to a variety of borrowers. Make sure to compare these and pick one that fits you the best.

Best Loans Like Lendly: Frequently Asked Questions

Got more questions about Lendly alternatives? We have covered some of the most commonly asked queries below so you can have a better understanding of Lendly and the many alternatives out there.

Which is the best Lendly alternative?

We have discussed some of the best Lendly alternatives above. Names such as Possible Finance, Ace Cash Express, and Prosper Loans take the lead as they offer friendly terms. You can get more money than what Lendly offers and at more affordable rates – as low as 4.99 percent – based on your credit score and history. Just like Lendly, some companies like OppLoan even offer loans without having any credit requirements and money is usually funded in under three days, as fast as Lendly.

Is Lendly a registered company?

Yes, Lendly is a registered and licensed provider. It is permitted to offer a variety of loans in the UK and collect personal information of all its consumers. You may be asked to submit identity documents. Also, the company can access your financial information and may report to credit bureaus. 

What’s the best thing about Lendly?

The best thing about Lendly is the ease it offers. The company has no stringent requirements and anyone, including individuals with a low credit score or poor credit history can apply for a loan. It has a good approval rate and funds are typically deposited within three days. 

What are the cons of choosing Lendly?

There are two main drawbacks of using Lendly. Firstly, it is a very expensive lender with the average rate standing as high as 175 percent. Secondly, it doesn’t offer very generous amounts as it does not approve more than $2,000. This makes Lendly a bad choice for people looking for large sums of money. Fortunately, there are other providers offering more generous amounts.

Is Lendly a reliable company?

Yes, Lendly is a reliable loan provider. It has been in business since 2019 and has carved a niche by offering trustworthy services. Legally called Lendly, LLC, it is a for profit organization that mainly caters to borrowers with a low credit score. The company hasn’t been involved in hacks or controversies and is considered a trustworthy name.

What should I look for in a Lendly alternative? 

It is important to find a company that is safe, reliable, and easy to work with. The three most important factors are the amount offered, the interest rate, and the minimum credit score. 

You will not be able to get a loan if you do not qualify so look at the eligibility requirements. Next, look at the amount. For example, there is no point in working with a company that offers a maximum of $5,000 when you need $70,000. You should ideally look for a Lendly alternative that can offer more money. 

Lastly, check the interest rate. The higher the rate, the more expensive the loan will be. Moreover, look at any additional payments such as a late fee and origination fee. Furthermore, consider having a look at payment terms so you can be sure of the repayment schedule. Remember that failing to pay at your desired time could result in penalties.

Are Lendly alternatives free to use?

No, these are all for-profit companies and while they offer free or no-obligation quotes, you will have to pay interest on the money that you take. Moreover, there may be additional charges such as a late fee and prepayment fee. This changes from platform to platform. Check the reviews above to have a clear understanding of all relevant charges. 

What kind of loans can I apply for at Lendly?

Lendly offers small loans – up to $2,000 and most applicants are required to have at least six months of unemployment history. The money can  be used for a variety of purposes 

Why do people look for Lendly alternatives?

Most people choose Lendly alternatives because they do not qualify for Lendly due to no employment history or because they find the platform too expensive. Also, it is common for people to shop around so they can find the most affordable lender. In addition, Lendly has a major drawback as it offers small loans, up to $2,000. Hence, it may not be a suitable option for people looking for large sums.

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