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Last Updated on March 29th, 2023 at 03:34 pm

It is possible to get a same day loan within a few hours of applying, especially if you need money now for an emergency. We have spent years working with reputable lenders across the US and can share some of our top tips when you are looking for a loan on the same day of applying.


Ways to Get a Same Day Loan Include:

  • Giving accurate information
  • Applying during office hours
  • Only borrowing what you need – not too high
  • Having a good or fair credit score
  • Be available for follow ups
  • Apply for smaller amounts
  • Apply online rather than in-store.


What is a Same Day Loan?

As its name suggests, a same day loan is a loan borrowers receive the same day of being approved. With Pheabs, borrowers can find same day loans available in 24 hours of being approved or the next working day.

A same day loan can be used for a variety of different cash emergencies. A perfect example would be when your vehicle has broken down and you don’t have the funds to pay for repairs. Same day loans can be great for unexpected emergencies like this, providing you with a temporary source of funds to pay for the repairs.




But how exactly can you go about getting a same day loan? As with any loan, borrowers will have to meet certain eligibility criteria in order to be successful in their loan request.


How To Get a Same Day Loan

There are a range of different things you can do to boost your chances of getting a same day loan, including applying during certain times of the day and making sure your credit score meets the lender’s requirements. Below is a list of things that can help improve your chances of success:

  • Don’t give any false information
  • Request the loan during office hours
  • Only borrow what you need (and what you can afford)
  • Have a good credit score
  • Be available for any follow ups
  • Apply online

These are all simple but powerful factors that can influence your chances of receiving a same day loan. While with a same day loan you’ll typically need a good credit score, there are other loan options that can accommodate better to those with adverse credit histories. Pheabs can help you find bad credit loans with guaranteed approval that best suit your needs and personal circumstances.


Don’t Give Any False Information

It’s important to only give accurate, true information about yourself, as providing false information will be found out. On the loan submission form, you may be asked to provide the following details about yourself:

  • The amount you’d like to borrow
  • How long you’d like to borrow this amount for
  • Your full name
  • Your D.O.B.
  • Employment status
  • How much you earn (if employed)
  • Contact details (e.g. phone number, email address)

These are some of the most typical factors you could be expected to provide, however, you may be asked to provide further information. The details you’ll have to give will depend on the lender as well as the loan you’re requesting from them.

It’s also important that you do not request the loan on behalf of someone else, since this will usually be flagged by the lender. For instance, apply with someone else’s name, but give you cell number and email address, the lender will likely pick up on this.


Request the Loan During Office Hours

While you can make a loan submission request any time of the day, it might help to submit this during working hours, so that a member of the team is available to process your request sooner. Most US lenders operate during evenings and weekends, but you can improve your chances by applying during Monday to Friday during 9AM to 5PM.

If the lender needs to manually check any aspects of your application (such as your income, the value of your car), they will do this in work hours and therefore fund it themselves.

In fact, some lenders only fund during working hours or loans need to get signed off by someone who is senior level.

Whilst it is possible to get funded on an evening or weekend, consider applying during the week if you want a same day loan.


Only Borrow What You Need (and What You Can Afford)

Same day loans should only be used for those who truly need them, so you should only ever borrow what you need. These types of loans are built for those in emergencies needing fast access to cash.

For example, if you’re needing the loan for repairs to your car, you should only take out how much the repairs will cost you. Taking out more than is necessary will make the repayments bigger and potentially more challenging if you can’t afford this.




Following on from this last point, you should also only ever borrow what you can afford, as taking out more than you know you can manage may lead to financial difficulties and if unable to keep up with repayments, additional fees and damage to your credit score.

The lender will also only approve requests for amounts that your details show you can afford (e.g. through your income and employment status). Therefore, only requesting what you can afford and what your details show you can afford will look better to the lender.


Have a Good or Fair Credit Score

Having a good credit score can also boost your chances of approval, as your credit score can be improved when keeping up with loan repayments. Therefore, those with a good or at least a fair credit score and a strong history of past borrowing can be favourable for lenders, as it provides evidence of good loan repayment management.

A bad credit score can sometimes have the opposite impact on lenders, as your score can actually be damaged if you fail to keep up with loan repayments and default on a loan. While a bad credit score may be less desirable than a good one, there are still borrowing options for those with adverse credit histories, which look at other details of their loan request form for security that the loan will be paid back.


Be Available for Any Follow-Up Emails or Calls

If sending your loan request online, it can also help to make yourself available for any follow-up questions or to electronically sign the agreement after you’ve sent it off.

Making yourself readily available and fast to respond to any of the lender’s follow-ups can help to speed up the loan request process, therefore potentially making you able to receive funds faster.

If possible, it can therefore help to make sure you’re close to your smartphone or computer, and checking your emails frequently for any messages related to the loan request.


Apply for Small Amounts or an Unsecured Loan

If you are looking to borrow a small amount such as $200 or $300, the loan application is likely to be automated by the lender and therefore if you meet the criteria, your loan can often be funded immediately.

If you are looking to borrow larger amounts such as $1,000 or $5,000, the lender is taking on more risk upfront, so this is where they might request proof of income or a copy of your bank statement – and this will obviously take time for you to send it and for them to review. Of course, it can all be done on the same day, but this is something that could delay the process and turn it into a few days.

Equally, if you are looking for an unsecured loan, this does not require any security or collateral, such as a car or home to be valued and verified as your own. So with an unsecured loan, the eligibility is based on factors such as your income, age, residential status and credit score – and if you fit the bill, you can get funded on the same day …. and usually pretty fast too.

Apply Online, Rather Than In Store

Applying for your loan online is quick and easy, and can maximise your chances of approval. After all, using a loans connection like Pheabs gives you access to multiple lenders at once and for free.

By comparison, if you go to a payday store which is very common in places like Texas and Nevada, you are going to be standing in line and waiting for an answer. Or equally, you could be declined and therefore having to go elsewhere. But applying online can streamline the process and if approved, you can get funding today.

At Pheabs, our online request form takes only a few minutes to complete, and once completed provides an instant on-screen decision.


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