What is the fastest loan to get approved for?

What is the easiest loan to get approved for?


A payday loan is likely the easiest loan to get approved for because it doesn’t require any credit checks. In most cases, you can walk into a payday loan store and walk out with a few hundred dollars. Payday loans are short-term loans that are usually required to be paid back in a few weeks and have a high interest rate. Payday loans can be dangerous if you’re not responsible with your money but they’re one of the easiest and fastest loans to get approved for.

On the other hand, if you have collateral that will make it easier for lenders to approve you for larger loans, such as home equity loans, home equity lines of credit, or car title loans.

Following that, loans that would be easy to get would be unsecured loans like personal loans between $1,000 and $15,000 dollars that are not secured by any collateral.

Get a recap of the best places to get a personal loan. Compare best personal loan rates, find trusted lenders and choose the optimal personal loan for your individual needs.

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Vlad Sherbatov

Vlad is the President and Co-Founder of Smarter Loans, Canada's original and largest loan comparison website. He is a passionate entrepreneur and business leader in the Canadian financial sector. He was selected as a 2019 Top 25 Leaders in Lending by the Canadian Lenders Association. Vlad is an author at Smarter Loans, and has been featured in publications like the Toronto Star and National Post, among others.