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How (and where) to get a $900 personal loan

Written by: David Heiling

Updated:

4 min read
This date may not reflect recent changes in individual terms.

Editorial Note: Intuit Credit Karma receives compensation from third-party advertisers, but that doesn’t affect our editors’ opinions. Our third-party advertisers don’t review, approve or endorse our editorial content. Information about financial products not offered on Credit Karma is collected independently. Our content is accurate to the best of our knowledge when posted.

A loan may help if unexpected expenses are squeezing your budget.

But keep in mind that these types of loans can often come with expensive terms, sometimes even costing more in interest than the principal amount you borrow. Some of these loans can be called payday loans. It’s important to shop around and compare loan terms.

We’ll recommend some lenders to consider and things to think about before you apply, as well as alternatives before you take out a small loan.

The best $900 personal loans

Sezzle

Sezzle might make sense if you’d like to buy something today and pay for it later, over four interest-free installments. As long as you make your payment on time, you won’t have to worry about any fees. But you’ll need to come up with a 25% down payment and then three payments of 25% every two weeks for 6 weeks to pay 0% in interest.

Personify

Personify Financial might be a good option if your credit isn’t great and you need to borrow a small amount of money quickly. You’ll likely have to pay a very high interest rate and an origination fee, which can make your loan more expensive. But the lender offers prequalification, which can help you see your potential rate and other terms before applying.

PenFed Credit Union

PenFed Credit Union is worth considering if you have good credit and need a small personal loan. You don’t need to be a member to apply, but the credit union charges late fees and returned payment fees.

OppLoans

OppLoans may be on your radar if you need fast cash and can’t wait until your next paycheck. Depending on when you apply, you could get your money by the next business day. But its maximum borrowing limit is low, and you’ll likely have to settle for an extremely high interest rate. It’s also worth noting that OppLoans has a poor track record with government regulators, so be sure you understand your terms with this lender before signing on the dotted line.

How can I get a $900 loan fast?

It’s possible to get quick funding for small loans, but it’s important to consider interest rates, loan terms and fees before making a decision.  Although many lenders don’t offer small loans less than $1,000, some credit unions, online lenders, loan apps and payday lenders do. 

You may be able to get a same-day loan or next-day loan depending on the type of funding and the lender. But keep in mind that you may have to pay a monthly membership fee or one-time fee for an “instant” transfer.

Here are some common types of small loans.

Small personal loans online

Some online loans may offer quick funding and flexible credit requirements, but these loans also may come with very high maximum interest rates that can hinder financial progress.
Some online lenders allow you to prequalify with a soft credit inquiry, a good way to compare potential rates and terms without affecting your credit scores. However, if you proceed with a loan application, the lender will likely perform a hard credit inquiry to determine final approval.

Buy-now, pay-later apps

Buy now, pay later (BNPL) loans are popular because they let you make purchases and spread payments over time, often without interest. These apps may lend you money without a hard credit inquiry. 

But a buy-now, pay-later loan will only be a good option to consider if you need to make a quick retail purchase and the company offers a BNPL financing option. For instance, if you need to purchase new tires for your vehicle, you may be able to get a buy-now, pay-later plan.

To avoid interest, you’ll usually have to complete your four payment installments within six weeks. And if your payment is late, you may face a late fee and a late payment that is reported to the credit bureaus and could harm your credit. Some BNPL apps also have optional monthly subscription fees.

Payday advance apps

Payday advance apps may offer a way to access part of your paycheck before payday without a credit check, which can be helpful in urgent situations. You could get funds to help bridge the gap with everyday expenses like bills and groceries until your paycheck arrives.

Many payday advance apps require proof of regular income, so this option is best if you have regular deposits hitting your bank account. If you’re new to payday advance apps, it may take a few days for the app to verify your information, and might not be the best option if you need funds ASAP.

Some payday advance apps have 0% interest rates. But providers may charge monthly subscription fees or fees to get instant access to funds, increasing the total loan cost. Some also ask people to leave optional tips. 

Payday loans

A payday loan may help cover a financial emergency if you need fast access to funds, but it’s best to consider it as a last resort. Payday loans often come with excessive fees that can add up to triple-digit annual percentage rates (APRs), which can be as high as 400%. 

Payday lenders typically offer loan amounts less than $500 with the expectation you’ll repay by your next payday, but terms vary by state. And not all states permit them. Payday lenders may advertise same-day funding, but when you get access to cash depends on your lender.

Small loan alternatives

  • Medical repayment plans/forgiveness: If you’re hit with unexpected medical bills, discussing repayment plans with the hospital that provided care is a good idea. Additionally, low-income or underinsured patients may qualify for other payment arrangements or financial help. 
  • Payday alternative loans from credit unions: Payday alternative loans are available from some federal credit unions. These loans are designed as a cost-effective alternative to expensive payday loans. 
  • Charitable grants or utility payment plans: Your current financial situation may make you a candidate for an assistance grant or loan. Hardship grants and specialized financial support programs may be available in your area to help residents facing financial challenges. Taking the time to research the financial assistance options in your area is a good idea.

FAQs about $900 loans

Can I get a $900 loan with bad credit?

Yes, getting a small loan is usually possible even if you have bad credit. Lenders willing to loan small amounts to individuals with poor credit scores typically charge higher interest rates because they perceive these loans as higher risk. Other options to consider include payday alternative loans, buy now, pay later apps and payday advance apps.

Can I get a $900 loan without using a payday loan?

There are several options to avoid extremely high-interest payday loans, which can sometimes trap you in a cycle of debt. Consider a payday alternative loan from an online lender. Sometimes, a cash advance from a credit card can have more favorable terms than a payday loan. If you need a bit of extra cash for everyday expenses before your next paycheck hits, consider a payday advance app.

Can I get a $900 loan without a job?

You may be able to get a small loan without a job, but lenders may still require proof of income. If you have regular income unrelated to a job, you can often include that in your application. Another option to consider is a secured loan. Secured loans are attached to an asset, like a house or a car, which allows the lender to take control of that asset if you’re unable to pay back your loan.

*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.