How To Get a $600 Loan

If you need $600, then fortunately you can find lenders or get access to funds delivered same-day or even next-day.

You'll need these items ready before you qualify:

• Proof of income

• Your ID

• Banking account info

Most personal loans start at around $2,000, and taking out a larger loan than you need means you’ll be paying more interest and could ultimately pay more for the money you need.

Finding a lender that offers a $600 loan can be difficult, but this list of 10 lenders offering smaller loans can help you get started.

Key Takeaways

• Small loans are available but harder to find since most personal loans start around $2,000. Lenders like Oportun, Uprova, Wise Loan and Spotloan offer $600 loans, with some options open to borrowers with poor or no credit.

• Speed and cost vary widely across lenders. Some fund within 15 to 30 minutes, while interest rates, origination fees and repayment terms can add significantly to what you owe — a $600 loan at 30% APR over six months costs about $54 in interest.

• Before you borrow, compare alternatives like earned wage access, a 0% APR credit card or negotiating directly with your biller. Confirm you can repay on time, then start an emergency fund covering three to six months of expenses so you are not caught short again.

Summary generated by AI, verified by MoneyLion editors

10 Lenders That Offer $600 Loans

These 10 lenders all offer $600 loans, including some options designed for borrowers with poor or no credit score. Keep in mind that these are cash options. See non-cash options in the Alternatives section.

1. Opportun

• Types of loans: Interest-based personal loans, including loans secured by vehicle collateral

• Loan size: $300 to $10,000, or $2,525 to $18,500 when you use a car title to secure the loan

• Credit check: Opportun performs a soft inquiry to prequalify you for a loan. Once you submit a formal application, the lender performs a hard inquiry.

Opportun considers credit history, but also allows cosigners and may approve applicants who have faced bankruptcy.

2. Uprova

• Types of loans: Interest-based personal loans

• Loan size: $300 to $5,000

• Credit check: Uprova states that applying for a loan will not affect your FICO credit score. If you're approved, your loan payments will be reported to credit bureaus and may affect your credit score.

Uprova offers loans for borrowers with poor or excellent credit. Online applications are quickly processed, and Uprova states that borrowers typically receive funds within 30 minutes. You can apply 24/7/365.

3. Navy Federal Credit Union

• Types of loans: Interest-based personal expense loans

• Loan size: $250 to $50,000

• Credit check: Most loan applications are processed in just a few minutes, and application is based on actors like credit history and income. NFCU doesn’t specify a minimum credit score to qualify for a loan.

You must be a NFCU member to apply for a loan. Active duty military, veterans, Department of Defense employees, and their immediate family members are eligible to join.

4. Quick2Lend

• Types of loans: Interest-based personal loans

• Loan size: $250 to $3,000

• Credit check: Quick2Lend welcomes borrowers with all credit scores.

Quick2Lend states that borrowers may be approved within three minutes and could receive their money in as little as 15 minutes via direct deposit.

5. Afterpay

• Types of loans: No-interest loan (on purchases from partner brands)

• Loan size: Not specified, but you can request higher spending limits

• Credit check: Afterpay initially performs a soft credit check when you sign up, which won’t affect your credit score.

Afterpay doesn’t pay you in cash, but allows you to split retail purchases into four payments. If you buy from a partner brand, those payments are interest-free, but if you buy from a retailer that isn’t an Afterpay partner, you’ll make a downpayment at purchase and then pay interest on the subsequent three payments.

6. MoneyLion Credit Builder Plus

• Types of loans: Credit builder loans as part of a credit-building membership program

• Loan size: Up to $1,000

• Credit check: MoneyLion performs a soft credit check that won’t affect your credit score, and you don’t need good credit to qualify. This program is designed to help build your credit score.*

You must enroll in the Credit Builder Plus membership, which costs $19.99 per month. You must also have a checking or spending account that’s been open for at least 60 days. After you’re approved, if eligible, a portion of your loan is released to you, but the rest is held in a reserve account. Once you’ve made all the payments on your loan, you’ll receive the rest of the funds.

7. Wise Loan

• Types of loans: Interest-based installment loans

• Loan size: $200 to $1,500 for first-time borrowers (loan minimums are $601 and $500 in South Carolina and Mississippi, respectively). Returning borrowers may qualify for loans up to $3,500.

• Credit check: Wise Loan states that everyone has a chance to qualify, regardless of their credit history.

You may be able to receive your funds the same day if you apply by 11:00 am CST. Loan interest rates are fixed, and payments are scheduled. You also have the option to return the installment within three days without paying any fees.

8. Premier America Credit Union

• Types of loans: Easy Cash interest-based personal loans

• Loan size: Up to $2,000

• Credit check: No credit check is performed, so applying won’t affect your credit, and your credit score doesn’t affect your chance of approval.

Funds are immediately deposited into your account once you’re approved, and payments are fixed across 12 months. To apply, you’ll need to be a Premier America Credit Union member, and must have access to online banking.

9. Emprise Bank

• Types of loans: Short-term CashPlease loans

• Loan size: Up to $875

• Credit check: No credit check is performed, so applying won’t affect your credit score. Emprise Bank considers your ability to repay the loan when reviewing the application.

You must be an Emprise Bank customer to apply for a CashPlease loan, and you must have had an account for at least 140 days. Once approved, borrowers normally receive the cash in their account within 24 hours.

10. Spotloan

• Types of loans: Interest-based installment loan

• Loan size: $300 to $800

• Credit check: Spotloan performs a credit check and reports payment activity to credit bureaus, so it can impact your credit score. Applicants may be approved, even with bad or no credit.

You may take up to 10 months to repay the loan. If you’re approved and accept the terms before 1:30 pm CT on a weekday, Spotloan will transfer your funds by the end of the day.

How To Get $600 Fast

If you need $600 quickly, lenders like Uprova and Quick2Lend process applications and transfer funds on the same day. Though you may be in a hurry to get your funds, be sure to take the time to read all of the terms and conditions of each loan option before deciding which is best for you.

What To Consider Before You Get a $600 Loan

A loan might seem like a fast and simple solution, but consider everything that’s involved with a loan.

Interest Rates and Fees

Interest rates and fees can vary substantially, and if you have poor credit, interest rates can be very steep.

Fees can vary, too. Look for origination fees, which can drive up your overall costs. Repaying the loan quickly may help you save on interest, but make sure that there isn’t an early prepayment penalty.

Loan Terms

Consider the loan's overall terms and structure, too. Some short-term loans give you less than a year to repay them, while others have longer terms of one or more years.

Can You Pay Back the Loan?

Think about whether you'll be able to repay the loan with interest and fees included. Those extra costs can make paying down your balance difficult, trapping you in a debt cycle that’s hard to get out of.

The True Cost of a $600 Loan

So you have a $600 loan at 30% APR, as an example. The repayment term length is six months at approximately $108 per month. You'll be paying somewhere around $54 in interest. Consider any fees as well, that add up to the total cost to borrow. Now nyou have na clearer picture of what you'll be paying n the long run.

Alternatives To a Small Loan

A small loan isn't always the best option if you need money to cover an unexpected expense or get you through a tight financial period. You might want to consider some loan alternatives that can still help you get cash:

• Earned wage access (EWA): EWA allows you to access a portion of your earned wages before you receive your paycheck. It's a short-term solution that can help you meet immediate financial needs, and it tends to be highly affordable. Your advance is repaid out of your paycheck, so you don’t pay interest on your money, unlike you will with a loan.

• 0% APR credit cards: If you have good credit, you may be able to qualify for a credit card with a 0% APR introductory period. You can use the card to cover short-term costs, and if you can pay down your balance in full before the end of the introductory period, you won’t pay interest on your purchase.

• Negotiate your bill: If you need cash to cover a bill, try contacting the lender directly. You may be able to negotiate with the lender, paying what you can now and then spreading the remaining balance out over the next few months.

After you've paid down your current $600 expense, consider creating an emergency fund. Building up an emergency fund is one of the best ways to cover unexpected bills, but you have to start ahead of time.

Open a separate savings account and try to make regular, scheduled deposits so you have funds available and don’t have to rely on debt when you face unexpected expenses. Ideally, it's best to have three to six months of living expenses saved up, which can give you peace of mind and help keep you financially stable.

Key Terms

• Annual percentage rate (APR): The yearly cost of borrowing, including interest and certain fees, shown as a percentage so you can compare loan costs more easily.

• Soft inquiry: A credit check used for prequalification or account review that does not affect your credit score.

• Hard inquiry: A credit check tied to a loan or credit application that may temporarily lower your credit score.

• Origination fee: An upfront fee some lenders charge to process, underwrite or fund a loan.

• Installment loan: A loan you repay over time with scheduled payments, usually in equal amounts, until the balance is paid off.

Sources:

• Consumer Financial Protection Bureau (CFPB) https://www.consumerfinance.gov/ask-cfpb/what-is-a-soft-inquiry-en-314/

• CFPB. https://www.consumerfinance.gov/ask-cfpb/what-is-a-hard-inquiry-en-313/

• CFPB. https://www.consumerfinance.gov/ask-cfpb/what-is-an-origination-fee-en-733/

• CFPB. https://www.consumerfinance.gov/ask-cfpb/what-is-an-installment-loan-en-1511/

• CFPB. https://www.consumerfinance.gov/ask-cfpb/what-is-a-loan-apr-and-how-is-it-different-from-interest-rate-en-733/

Summary generated by AI, verified by MoneyLion editors