• August 10, 2022 9:21 pm


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Best Apps That Loan You Money Instantly 2022

When you need emergency financing, it increases your chances of falling victim to predatory lenders. Moreover, payday loan providers take advantage of borrowers’ desperation and often trap them in a cycle of debt. However, avoiding the mistake is easier than you think.

For example, pay close attention to your loan terms and stay away from products that have 400% APRs. Likewise, the options below can hold you over until your next paycheck arrives without impairing your financial health.

This are the apps.


Dave should be on your radar. For example, the cash app lets you borrow up to $250 with no interest or credit check. However, please note that you need to have some money left after paying your bills each month. In addition, the membership fee is $1 per month. However, Dave is a safe and legit way to receive cash for free within three business days, and you also have the option to pay a fee for same-day funding.

What you need to know about the Dave app

Created to help people avoid bank overdraft fees, the Dave app alerts you when your checking account balance is getting low and lets you request cash advances to help cover upcoming expenses until your next paycheck. Dave will automatically withdraw the amount you borrow from a linked bank account if you don’t pay it back manually before it’s due.

If you’re thinking about using the app to get extra cash until you get paid again, here are a few things to know.

No interest

You won’t pay interest when you use the Dave app to get a paycheck advance. The company asks for optional “tips” provided by people who use the service. But you don’t have to tip to use the app.

Membership fee

Dave charges a monthly fee of $1 to use the app, which is deducted from your linked bank account each month. But you can earn free months by making purchases at certain businesses.

Low balance alerts

When your account balance is getting low or you don’t have enough money in your account to pay a bill that Dave knows is due soon, you should receive a notification. Then you can choose whether requesting a cash advance could help you avoid overdrawing your account.

Low withdrawal limit

The maximum payday advance you can receive is $100. Once you receive a cash advance, you can’t get more money until your account is paid in full. Payments are due either the following Friday or on your next payday, depending on how much you borrow.

A closer look at cash advances from Dave

  • Eligibility requirements — To use the Dave app, you must have a steady paycheck that you direct deposit into a bank account, such as your checking account. Plus, you must be able to show that your bills don’t eat up your entire paycheck and you have some extra money left over each month.
  • No credit checks — Since Dave doesn’t review your credit history or report payments to credit bureaus, your credit scores aren’t affected by using the app. On the flip side, it won’t help you build credit either.
  • Potential to save money — The median Dave user saves $500 a year in fees, according to the company’s website.
  • Funding options — If you get a cash advance, you can choose from standard or express funding options. The standard option is free, but it may take up to three business days to receive your money. The express option allows you to get your money the same day, but you must pay a “small” fee (Dave doesn’t specify on its website how much that fee is).
  • Charitable giving — In connection with tipping, Dave donates to its charity partners, Trees for the Future and Feeding America. Trees for the Future provides sustainable food, livestock feed and other support to families in sub-Saharan Africa, and Feeding America gives meals to families in need.
  • Budgeting tool — To help with budgeting, Dave has a tool that will analyze your bank account transactions to automatically create a budget for you and help you plan for upcoming expenses. You can manually add or delete items to ensure your budget accurately reflects your current expenses.
  • Side gigs — Dave says it can “hook you up” with side jobs in your area.

Who is the Dave app good for?

The Dave app may be a good option for someone with a steady paycheck who needs a few extra dollars from time to time, like to help cover a small shortfall for a routine or unexpected expense before the next payday.

But if you’re dealing with bigger shortages, this app probably won’t be a solution. If you regularly find yourself running out of money between paychecks, it probably makes sense to evaluate your spending habits and look for ways to boost your income, reduce your expenses or seek financial assistance.

How to set up a Dave account

To sign up for Dave, download the app to your mobile device. Then open it, click “Sign up for Dave,” and follow the prompts to set up your account. You’ll need to provide information like the following:

  1. Low balance alert amount
  2. Mobile phone number
  3. Banking credentials
  4. Email address
  5. Password


  1. Dave is one of the best apps that gives loans up to $250.
  2. Dave doesn’t charge interest or check your credit.
  3. Standard three-day funding is free.
  4. You can link an external bank account.


  • You need to pay $1 per month in membership fees.
  • It costs $1.99 for instant cash advances of $5 or less to $5.99 for $100 to $250.
Loan Amount: Up to $250
APR: 0%
Terms: Repay manually or with your next paycheck
  • $1 monthly membership fee
  • $1.99 to $5.99 for same-day cash advances
Credit Check: No
How to Qualify:
  • Have at least two qualifying direct deposits
  • Have cash leftover after paying your bills
Link External Bank Account: Yes

To learn more about potential hardship programs, you can call Dave at 1-844-857-3283, email support@dave.com, or use the link to download the Dave’s mobile app.

Solo Funds

High on our list of apps that loan you money instantly, Solo Funds offers $50 to $500, and there is no minimum credit score requirement. In addition, repayment terms of 15 days or less are available, and tips typically range from 3% to a 10% maximum. Thus, if you’re looking for apps that pay you real money without worrying about high APRs, Solo Funds is one of the best.


  • SoLo Funds’ cash app offers up to $500 with no credit check.
  • Tips are 3% to a 10% maximum, much less than payday loan APRs.
  • Same-day funding is often available.
  • You can link an external bank account.
  • You’re not charged a monthly membership fee.


  • Late payment fees will cost you 15% of the loan amount plus $5.
  • Independent lenders determine approval on the platform.
loan Amount: Up to $500
APR: Typically 3% to 10%
Terms: Up to 15 days
Fees: Late payment fee is 15% of the loan amount + $5
Credit Check: No
How to Qualify: Depends on the P2P lenders’ criteria
Link External Bank Account: Yes

While SoLo Funds provides helpful tips on how to safeguard your finances. You need to contact the company directly to learn about its hardship programs. To do so, you can email help@solofunds.com or submit a ticket through SoLo Funds’ help center.


MoneyLion Instacash provides up to $250 with no interest or credit check, and you don’t have to repay the funds until payday. However, since MoneyLion restricts new accounts to $25 or slightly higher when you sign up, think of it as a $50 loan instant app until you build a reliable relationship. Moreover, once you demonstrate your creditworthiness, you can borrow $50 and then up to $250. In addition, MoneyLion is a safe and legit way to receive your money for free within five business days, or you can pay a fee for instant funding. All in all, we found that MoneyLion is one of the best apps that loan you money instantly.


  • MoneyLion’s loan app provides up to $250.
  • MoneyLion doesn’t charge interest or check your credit.
  • You can link an external bank account.
  • You’re not charged a monthly membership fee.


  • You’ll pay $1.99 to $7.99 for instant cash advances.
  • You may only qualify for $25 right away.
Loan Amount: Up to $250
APR: 0%
Terms: Repay with your next paycheck
Fees: $1.99 to $7.99 for immediate cash advances
Credit Check: No
How to Qualify:
  • Have a checking account that’s been open for at least two months
  • Make sure the account is active and has a positive balance
Link External Bank Account: Yes

While MoneyLion doesn’t list any coronavirus-specific policies, help is available if you need it. To learn more, you can call MoneyLion at 1-888-704-6970, email customercare@moneylion.com, or use the company’s 24/7 chat function.


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