Top Financial Apps for Quick Loans in 2023

Utilizing a money borrowing app offers a convenient method for obtaining funds swiftly before your upcoming payday. Numerous options are available, catering to borrowers with diverse financial situations. The speed at which you receive the required funds is a significant advantage. However, certain drawbacks exist, such as the anticipated borrowing expenses and the potential hazard of becoming overly dependent on this rapid cash source to address a more pressing financial dilemma.

Access funds swiftly through these reputable financial apps to cover unanticipated expenses.

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Discover the Best Money Lending Apps of 2023

Evaluate the advantages and drawbacks of these cash advance and personal loan apps to make an informed decision.

Leading Money Lending Apps for 2023

App Maximum Loan Amount Time to Funding Fees Google Play Rating App Store Rating
Albert Up to $250 Instantly for a fee; 2-3 days free of charge Instant cash advance fee 4.1/5 4.6/5
Brigit $50-$250 Instantly for a fee; 1-3 days free of charge No late fees or penalties 4.6/5 4.8/5
Chime $20-$200 At the point of sale Not applicable 4.7/5 4.8/5
Dave Up to $500 Instant Membership fee: $1; express fee: $1.99-$9.99; external transfer fee: $2.99-$13.99 4.4/5 4.8/5
MoneyLion $25-$500 12-48 hours for a fee; 3-5 business days free of charge Turbo fee: $0.49-$5.99 to RoarMoney account; $1.99-$8.99 to external debit card 4.5/5 4.7/5
Possible Finance Up to $500 Instant Varies by state 4.1/5 4.8/5

Overview of Top Money Lending Apps


Offering up to $250 until your next paycheck, Albert doesn’t require credit checks and doesn’t charge interest on borrowed funds. Moreover, there are no late fees, even if you’re unable to repay the loan promptly.


  • No hard or soft credit check.
  • No interest or late fees.


  • Fee applies to receive funds instantly.
  • Two- to three-day disbursement period.


Brigit allows you to borrow up to $250 without a hard credit check. No interest or hidden fees are associated with the borrowed amount. Additionally, Brigit customers have access to free credit reports, identity theft protection, and other financial tools to improve their financial well-being.


  • No minimum credit score requirement.
  • Access to a suite of financial resources.


  • Early cutoff time for same-day funding requests.
  • Instant Cash is only available with a monthly membership fee.


Chime is a groundbreaking mobile app that offers paycheck advances, fee-free banking, and valuable financial tools. With the SpotMe feature, you can get paid up to two days early or spend up to $200 more than your available balance without incurring overdraft fees. To utilize both features, you must receive direct deposits into a Chime Checking account.


  • No impact on your credit score.
  • Access your paycheck sooner or use SpotMe to avoid overdraft fees.


  • Direct deposit is required.
  • Must receive $200 each month in direct deposits to a Chime checking account.


Dave offers more than many other money lending apps, with borrowers qualifying for up to $500 through the ExtraCash feature, which deposits funds directly onto the Dave Debit Mastercard. The application process is quick and easy, and there are no interest charges on the loan. Plus, Dave doesn’t charge late fees. Credit builder loans are also available for those looking to borrow more money while improving their credit health.


  • No credit check.
  • Low cash advance fee.


  • Express and external transfer fees apply.
  • Monthly membership fee.


MoneyLion provides an all-in-one mobile banking experience, including access to interest-free quick advances of up to $500. Applying won’t affect your credit score, as there is no credit check. If approved, you could receive funds in as little as 12 hours.


  • No minimum credit score requirement.
  • No interest or fees.


  • Borrowers must provide access to their bank account.
  • Fee applies for instant delivery.

Possible Finance

Possible Finance offers a payday loan alternative, allowing you to borrow up to $500 and repay in four equal installments over eight months. Interest is charged on the loan, but there are no late payment penalties. Each on-time payment helps build your payment history and grants you access to the Possible Card.


  • Reports to Experian and TransUnion.
  • Instant funding option.
  • Generous grace period for late payments.


  • Hefty interest rates.

Pros and Cons of Money Borrowing Apps

Consider the benefits and drawbacks of money borrowing apps before applying for funding.


  • Easily accessible: The application process is seamless, and you generally won’t need good credit to qualify for funding.
  • Fast funding times: Upon approval, some lenders will instantly deposit the funds into your checking account (for a fee) or within one business day.
  • Less expensive than overdraft fees: By securing a loan, you could avoid costly overdraft fees that would result if you didn’t have the funds at your disposal.


  • Hefty borrowing costs: Lender fees and the interest you may pay on these loans could make them an expensive source of funding.
  • Potentially addictive: The ease of access and rapid funding times put you at risk of repeatedly relying on money borrowing apps when cash flow issues arise.
  • Fails to address serious budgeting issues: A money borrowing app could be a temporary solution to a more serious problem with your budget and spending habits.

How to Compare Money Borrowing Apps

To find the best fit among top money borrowing apps, consider the following factors:

  1. How much does each lender charge to borrow? Are the fees comparable across the board, or are some steeper than others?
  2. What is the interest rate? How about the APR?
  3. How much time does the lender give you to repay the money borrowed? Can you schedule the payments, or are they automatically drawn from your account on specific dates?
  4. What are past and current customers saying about the app? Do the reviews indicate overall satisfaction, or is there cause for concern?

Alternatives to Money Borrowing Apps

If money borrowing apps aren’t the right solution, consider the following alternatives to access the funds you need:

  1. Credit union loans: If you’re a credit union member, you may be eligible for a small personal loan with competitive interest rates and repayment periods of up to one year. While credit unions often check your credit, a lower score doesn’t automatically mean a denial, as they may approve you based on your solid banking history.
  2. Small personal loans: Explore small personal loans from online lenders. If you’re concerned about a low credit score, some lenders offer products for borrowers with less-than-perfect credit. You’ll pay more interest, but it’s capped at 36 percent.
  3. Loans from a relative or friend: Ask a trusted family member or friend to borrow the money you need. Be sure to put the agreement in writing to avoid confusion and repay the borrowed amount on time to prevent damaging the relationship.
  4. Earn extra cash: Take on a side hustle or work overtime to make extra money. If the latter isn’t an option, consider rideshare driving, food delivery services, babysitting, or other side gigs with minimal startup costs.

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