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Don’t Get a Payday Loan! – Best Alternatives to Payday Loans

alternatives to payday loans


Payday loan companies are some of the most unethical companies that exist. Nobody walks into a payday loan store and they are financially stable. These payday loan stores take money from those who need it the most. Good thing there are some good alternatives to payday loans out there.

The reason why payday loans are so bad for your wallet is because of the interest. Right now, the average pay per interest (APR) is 400%! That is insane!

We get it, you need money. And you need this money now. But save your money and DON’T get payday loans!

Check out these great alternatives to payday loans:

Best Alternatives to Payday Loans

Pay advance

A good, non interest, alternative to payday loans are pay advances. A pay advance is when an employee simply asks their employer for an advance on their current paycheck.

Depending on your employer, they may not agree to this method. But if this method does work for you, consider yourself silly for even thinking about getting a payday loan!

Family and Friends

When in doubt, ask to borrow money from your friends and family. If pride is an issue, it shouldn’t be. Most everyone has been in your situation in some point in their lives. At the very least, the worst thing that would happen is them saying no.

Unsecured Personal Loans

Unsecured personal loans are great alternatives to payday loans. Unsecured personal loans are loans that do not require collateral (car titles, house titles, etc.) to be accepted for a loan.

What makes unsecured personal loans so great is that you do not have the risk of losing valuable assets.

What usually happens with unsecured personal loans is that you get a lump sum up front. The rest of the money is sent over time through scheduled payments. This is also referred to as installment loans.

But, your credit score must be pretty good. For those with bad credit, this probably wouldn’t be an achievable loan.

TakeLendbest alternatives payday loans


TakeLend is an easy and excellent choice for anyone to get a personal loan. TakeLend offers the best loans up to $15,000. The best part is, they accept bad credit too!

This company will pair you with the best loan possible for you. Your money will be put in your bank account as soon as the same day. TakeLend is one of the most popular online personal loan websites.

Click on one of the links above to get started!

Secured Personal Loans

Secured personal loans generally have less APR than unsecured personal loans, but they are more risky. These loans are backed by your car, your house, or any other valuable asset/s you may own.

You can find these loans at some banks, credit unions, and online lenders.

Secured personal loans are a better alternative to payday loans, but are a lot riskier than the other alternatives on here.

More times than not, you want to stay away from these types of loans.

Pawn Shops

Believe it or not, pawn shops usually have better APRs than most payday loan places. This should be your last resort though.

Even though it is a better alternative to payday loans, the APR averages 182% and you have to put up collateral. These APRs are different everywhere too so sometimes they are even higher.

Your collateral will be priced down too so you won’t get as much money as it’s really worth.

Once you have your money back, go back to the pawn shop and get your collateral back.

Again, even though this is one of the better alternatives to payday loans, this should be your LAST resort.

Community Outreach

Sometimes local churches, organizations, or businesses will give small loans with very low to no rates at all. And sometimes, you don’t have to put up collateral as well.

As far as alternatives to payday loans go, this option is a great deal.

They are really hard to find but hey, try to find them at least!

Selling Items

Selling your unused items is another great alternative to payday loans.

You can sell items online, local stores, or even pawn shops. Note that pawn shops will probably give you the least best deal.

Check out Plato’s closet too! Just sell your unused clothes to them and they will give you cash on the spot.


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Note: These are my own personal opinions that I honestly think will help out others. Some of these links may obtain affiliate organizations or companies. These are trusted and researched links by me. To learn more about this, please visit my Privacy Policy.


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