Georgia Emergency Loans
We have reviewed 6 options for Georgia emergency loans.
Emergency loans are available to people with all credit types. Up to $10K can be deposited into your account often by the next day. These loans are expensive and typically only make sense for short-term, emergency funding.
We define emergency loans as installment loans that are paid back within two years. These loans are most often tied to the date your pay check is direct deposited into your checking account. The loan amounts for these loans are generally around ~$1,000 although they can go to larger amounts. For loans that are paid back over more than two years, we categorize them as personal loans. Personal loans are generally for larger loans amounts like $10,000 and can be up to $50,000. They are used more for debt consolidation versus emergencies
We review bad credit direct lenders based on their reputation, cost, and features. Reputation considers state licensing and Better Business Bureau scores. Cost is based on terms, fees, and rates. Features include things like credit reporting or fee transparency.
Our review of emergency loans considers three areas: reputation, cost, and features. Reputation considers things like state licensing and Better Business Bureau scores. Cost is based on terms, fees, and rates. Features include ares like credit reporting or fee transparency.
A listing in this table is not an endorsement by us as we include all lenders we have reviewed that offer loans to Georgia residents.
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OppLoans
$500 - $4,000
Loan amounts
99% - 199%
APRs
All
Credit type ⓘ Visit OppLoans for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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State Licensed Lender
Lender status
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RISE
$300 - $5,000
Loan amounts
60% - 299%
APRs
All
Credit type ⓘ Visit RISE for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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State Licensed Lender
Lender status
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Stilt
$1,000 - $35,000*
Loan amounts
7.99% - ?
APRs
All
Credit type ⓘ Visit Stilt for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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State Licensed Lender
Lender status
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Big Picture Loans
$200 - $3,500
Loan amounts
35% - 699%*
APRs
All
Credit type ⓘ Visit Big Picture Loans for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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Tribe Based Lender
Lender status
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Plain Green Loans
$1,000
Loan amounts
300%
APRs
All
Credit type ⓘ Visit Plain Green Loans for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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Tribe Based Lender
Lender status
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Cash Advance Now
$300 - $1,500
Loan amounts
725%
APRs
All
Credit type ⓘ Visit Cash Advance Now for product eligibility. Our eligible credit type estimate is a general guide based on FICO® Scores:
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Tribe Based Lender
Lender status
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- Based on our analysis these lenders offer loans to Georgia residents. Check each lender's website for up-to-date information.
Additional Information on Georgia Emergency Loans
Georgia residents can choose from 6 provider options from our rankings. If there are other lenders that you would like reviewed please let us know.
Emergency loans are designed to be available to people of all credit backgrounds. They differ from typical payday loans because they are paid back over multiple pay periods instead of all at once at your next payday. These loans are expensive so make sure to consider other options such as bank loans, credit cards, or friends and family before taking one.
Georgia installment lenders are ranked in the table above. Often time consumers prefer emergency loans over payday loans because the loan repayment is spread out over a longer period of time which can makes these loans cheaper than payday loans if you need multiple pay periods to repay your loan. If you can pay it off all at once then sometime a payday loan can be cheaper. See Payday Loans or Installment Loans for more information on comparing these two types of loans. Also you can visit emergency loans for more general information.
Emergency loans are generally paid off in less than two years. If you have fair to excellent credit or need larger amounts of cash, i.e. up to $50,000, another option to consider are personal loans. These loans can have higher loan amounts, longer terms, and lower rates. The largest loans and lowest rates are typically only offered to individuals with excellent credit. These loans are typically used more for debt consolidation than last minute emergencies.
Georgia Paycheck Installment Loans
The loans listed in this section are paycheck-based loans. This is because payments for these loans occur on your pay date. Unlike traditional unsecured loans, these loans do not require good credit. In fact, they generally don't even consider credit history and instead, are based solely on your employment. Lenders require access to your checking account where you receive your paycheck and on your payday they automatically deduct your loan payments.
Companies offering paycheck emergency loans have made these loans very convenient but these loans are expensive. They generally only make economic sense if used very infrequently for emergencies only.
Who Offers Georgia Emergency Loans
They are direct lenders who offer loans based on your paycheck amount, pay date, and access to your checking account. Their loans are typical available to all credit profiles and do not require collateral.
They differ from companies who provide matching services because installment lenders underwrite and lend money. Many sites will advertise loans and even take an application, but they are not lenders. Instead, they are matching services representing a network of lenders. These sites take your application and then pass them on to the lenders in their network. These networks can consist of hundreds of lenders. In some cases, if the lender may even pass your application on to another lender if they are unable to make a loan to you. One can distinguish direct lenders from matching services by looking at the fine print of most websites. Matching services will say something like, "the operator of this website is NOT A LENDER." Direct lenders will not include this disclaimer.
Georgia Direct Lenders Versus Matching Service
The main advantage of using a matching service is that only one application is required to apply to multiple lenders. This can save time and effort as each application can take 5 to 15 minutes to complete. It can also increase your chances of getting approved as you will hit multiple lenders all at once.
The downside to using a matching services is you are unable to pick the lenders. This means the lenders may include unlicensed lenders as well as licensed lenders. We prefer state-licensed lenders. It also means you may not get the best loan possible as the matching service generally sells the loan to the highest bidder versus the lender with the best deal for you. If you use a matching service, once you are offered a loan, make sure you are comfortable with your lender and the terms. You are never under an obligation to accept the loan you are offered.
Whether you use a matching service or a direct lender there is a high likelihood that your data will end up with other lenders. An NPR article recounts a story where after applying via a matching service (with fake data) the author received calls months later from possible lenders.
We generally do not see anything wrong with a matching service in concept but one should be aware of how the services work. For more information see Direct Lenders or Matching Service.
Licensed Versus Unlicensed Lenders
Georgia regulation of emergency loans falls into a bit of a gray area as they sometimes fall outside of the technical definition of a payday loan and more into the area of general unsecured installment loans. We prefer Georgia enders licensed in your state because they are typically more closely regulated and monitored. State-licensed lenders generally must apply, register, and remain compliant in every state in which they operate. As a result, state-licensed lenders are typically larger more permanent companies.
If a lender is unlicensed, they operating in Georgia under the assumption they can export laws from their state or tribe into Georgia. When we say tribe we are talking about tribal lenders. It refers to lenders backed by tribes formally recognized as American Indian Tribes that are generally treated as separate federal entities and operate under their own laws. These lenders were very common in early 2010's, almost disappeared towards the end of the 2010's, and in 2020 started to become more common again.
Doshound believes in transparent markets, fair regulations, and consumer choice. To the extent, the existence of tribal lenders provides more choice this is a good thing. The creation of the self-regulating Native American Financial Services Association (NAFSA) is also a good thing. We'd like to see continued transparency and enforcement to create safer choices for borrowers. For more information see Georgia Payday Loan Laws.
The above is our understanding of how Georgia installment lending works but we are not a law firm. Please contact the Georgia Office of Insurance and Safety Fire Commissioner for more information.