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Best short-term lenders in {{CURRENT_MONTH_YEAR}}

APRs from 35.99%

Written byEditorial Team
Edited byReviews Editor
Reviewed byFinance Advisor
Expert verified Updated May 25, 2026

What to know first: Short-term loans carry the highest APRs in consumer lending. Our editorial team reviewed providers based on transparency, credit-bureau reporting, and rollover policy. The picks below all report to bureaus and don't push rollovers as the default.

Top providers How HawkLend ranks Definitions FAQ

Side by side

Top short-term lenders

Independent overview of US short-term lending platforms. APRs are higher than long-term personal loans — weigh the cost honestly against alternatives.

OppFi

Bad-credit installment
Pricing59-160% APR
Rating★★★★☆
  • No-collateral installment loans
  • Soft-pull pre-qualification
  • Reports to all 3 bureaus

Possible Finance

Building credit
Pricing~150-200% APR
Rating★★★★☆
  • Small loans, 4 payments
  • Builds credit history
  • No credit check

NetCredit

$1,000+ amounts
Pricing34-99.99% APR
Rating★★★★☆
  • Lines of credit or installment
  • No prepayment penalty
  • Funded next business day

Upgrade

Fair to good credit
Pricing7.99-35.97% APR
Rating★★★★☆
  • Fixed-rate installment
  • Loans $1,000-$50,000
  • Soft pre-qual

LendingPoint

Fair credit
Pricing7.99-35.99% APR
Rating★★★★☆
  • Loans $2,000-$36,500
  • Next-day funding
  • Re-borrow eligibility

Oportun

No-credit-history borrowers
Pricing35.99% APR (max)
Rating★★★★☆
  • No SSN required for some
  • Reports to credit bureaus
  • Spanish-language service

APRs and fees shown are illustrative ranges. Actual cost depends on loan amount, term, your state, and credit profile. Short-term lending APRs may exceed 100% for some products — read all terms carefully before borrowing.

Before you borrow

Three things to weigh first.

1

True cost matters more than monthly payment

A small monthly payment over many cycles can quietly cost more than the original loan. Always compute total interest, not just the per-payment number.

2

Check alternatives first

Credit-union small-dollar loans, employer paycheck-advance programs, and negotiating directly with creditors are often cheaper than any short-term loan product.

3

Have a payoff plan

Rollovers and re-borrows are how short-term loans become long-term debt. Borrow only what you can repay on the original due date.

FAQs

Short-term loans — what people ask

What counts as a short-term loan?
Generally any unsecured loan with a repayment term under 12 months. Common types include cash-advance loans (single repayment), short-term installment loans (3-12 months), and lines of credit with small draws and quick repayment.
How high are short-term loan APRs?
Significantly higher than long-term personal loans. Installment options typically range from 35-160% APR. Cash-advance products can exceed 200% APR when expressed as an annual rate. Always confirm the total cost in dollars, not just the rate.
Are there cheaper alternatives I should check first?
Yes — federal credit unions offer credit-union small-dollar loans (PAL program) capped at 28% APR. Many employers offer paycheck advances at no cost. Credit-card cash advances, while expensive, are often cheaper than dedicated short-term lenders. Even a 0% balance transfer or borrowing from family is usually cheaper.
Will a short-term loan help or hurt my credit?
It depends on the lender. Some lenders (OppFi, Possible, Oportun) report to credit bureaus, so on-time payments build credit. Others don't report at all, meaning even responsible repayment won't help your score. Always confirm whether the lender reports.
How do I avoid the debt trap with short-term loans?
Borrow only what you can repay on the original due date — not what you can refinance or roll over. If you're already in a cycle, contact a nonprofit credit counselor (NFCC, FCAA) for free help building an exit plan.

How HawkLend ranked these picks

Our editorial team reviewed dozens of providers across rate transparency, application speed, credit reporting, BBB complaint volume, and consumer experience. Every provider on this list passes our minimum standards for licensing and disclosure.

We update this list quarterly, with mid-quarter updates when major providers change their rate structure or product mix. Compensation from partners does not affect ranking — only inclusion criteria.

Definition of terms

APR
Annual Percentage Rate — the total cost of borrowing expressed as a yearly rate, including interest and fees.
Soft inquiry
A credit check that does not affect your score. Used for pre-qualification.
Hard inquiry
A credit check that may temporarily lower your score. Used when you formally apply.
Pre-qualification
An estimate of what you'd qualify for, based on a soft inquiry. Not a guaranteed offer.