There are many online loan companies that advertise same-day loans, such as I Need a Loan, but it is also possible to get a same-day loan from larger, more reputable companies like Wells Fargo. A high percentage of online companies that offer same-day loans, especially those who claim to not care about the applicant's credit, could be scams, according to the LoanNow website.
Websites such as I Need a Loan and Same Day Pay Day Loans offer small loans that can be transferred to the client in as little as an hour. Loans from websites such as these usually range between $300 and a couple thousand dollars, and advertise that they accept clients with bad credit.
Users who have poor credit and are looking for a fast loan should research these companies, as they may be a scam or not pay off long term, according to LoanNow. Websites that ask for personal information, upfront fees or do not consider credit scores could end up having extremely high interest rates that far exceed those of accredited banks.
Some large banks, such as Wells Fargo, may be able to process loan applications and get money to applicants in less than a day. These banks will have better rates and are required by law to keep account information classified.