What are alternatives to payday loans in Georgia?

Payday loans are illegal in Georgia, so if you’re looking for quick cash, you’ll need to explore other options.

While there’s no real set definition of what a payday loan is, in practice, they’re short-term loans with expensive fees and financing terms that can quickly trap people in a cycle of debt.  

If you need money for an emergency expense, these lenders may be good alternatives.

• Best for early access to your paycheck: Earnin
• Best for employer-based financing: Kashable
• Best for going beyond credit scores: Upgrade
• Best for small loans: Alliant Credit Union
• Best for secured loans: OneMain Financial
• How do paycheck advance loans work?
• What are the best alternatives to payday advance loans?
• FAQs about payday loan alternatives in Georgia

Best for early access to your paycheck: Earnin

Why an Earnin personal loan stands out: With Earnin, you can borrow up to $150 per day and $1,000 per pay period. But you’ll need a steady pay schedule and income to qualify.

Pros

• No interest or fees — tips are optional
• Low balance alerts
• Quick funding available for a fee

Cons

• Withdrawal limits
• Only available if you use direct deposit
• Must download the Earnin app and connect your bank account

Read our review of Earnin to learn more.

Best for employer-based financing: Kashable

Why Kashable stands out: Kashable can help federal employees and other qualifying employees cover a variety of expenses. If your employer offers Kashable loans, you can apply for amounts between $250 and $30,000, with six- to 36-month loan terms.

Pros

• Starting APRs are competitive  
• Free credit monitoring
• Can check rate to prequalify without credit score impact

Cons

• Only an option if your employer offers it
• May charge an origination fee

Read our review of Kashable personal loans to learn more.

Best for going beyond credit scores: Upgrade

Why an Upgrade personal loan stands out: Upgrade offers personal loans from $1,000 to $50,000. If you apply for one, the lender says it will consider factors other than your credit score, including your education and employment history. 

Pros

• Fast funding by next business day
• No prepayment penalty
• Can check your rate without affecting your credit scores

Cons

• Potentially high APRs 
• Charges an origination fee
• Only two loan terms available: 3 or 5 years

Read reviews of Upgrade personal loans to learn more.

Best for small loans: Alliant Credit Union

Why an Alliant Credit Union personal loan stands out: Alliant Credit Union offers personal loans between $1,000 and $100,000 with terms ranging from one to five years. If you’re a member, you can apply online and lock in a competitive rate.

Pros

• No origination fee
• Potential same-day funding 
• Debt protection plan available for unexpected hardships

Cons

• Must be a member for at least 90 days to apply
• No physical branches
• Can’t prequalify online

Read our review of Alliant Credit Union personal loans to learn more.

Best for secured loans: OneMain Financial

Why a OneMain Financial personal loan stands out: OneMain Financial offers both unsecured and secured personal loans that range from $1,500 to $30,000. If you do take out a secured loan, you’ll need to secure it with an eligible car as collateral.

Pros

• Apply online, by phone or in person 
• May prequalify without any impact to your credit score
• Hardship programs available

Cons

• High maximum APR
• Charges origination fee
• Not available in every state

Read reviews of OneMain Financial personal loans to learn more.

How do paycheck advance loans work?

Paycheck advance loans let you access some of your paycheck before your payday. You can typically borrow up to $1,000 and won’t need a credit check. Most paycheck advance loans are interest-free but you might have to pay other fees for items like faster funding or tips. 

If you’re interested in a paycheck advance loan through a lender like Earnin, you’ll likely need to download an app that loans money. Once you connect your bank account, request the advance and are approved, the lender will deposit the funds directly into your account.

What are the best alternatives to payday advance loans?

Georgia doesn’t allow payday advance loans but you may be able to get money quickly through these alternatives.

• Paycheck advance loans: With paycheck advance loans, you can access part of your paycheck early. You can usually borrow between $50 to $1,000 and won’t owe interest (though you may owe other fees). 
• Buy-now, pay-later: Offered by online retailers and some brick-and-mortar stores, BNPL loans let you split a purchase into equal installments over a few weeks or months. Typically, you’ll make the first, interest-free payment at checkout, followed by a payment every two weeks.
• Payday alternative loans: You can find PALs at some federal credit unions and access between $200 and $1,000. PALs usually have much lower fees and APRs than traditional payday loans. But you may need to be a credit union member to get one.
• Online loans: Online lenders let you apply for small personal loans on your desktop or mobile device, without ever leaving home. You can usually get your money quickly, often within a few business days after you’re approved.

Our methodology: How we pick the best personal loans

Credit Karma’s editors evaluate the best personal loans by reviewing key features of dozens of popular lenders. Those features fall into three important categories:

• Affordability: We start by checking if a lender’s rates are competitive: are they higher than average or are they lower than many competitors? From there, we analyze if fees — particularly an origination fee — may make your loan more unaffordable. Last, we’ll check if the lender offers rate discounts for items such as automatic payments that may reduce your rate.
• Customer-friendly features: Taking out a personal loan is a big financial commitment, so we prioritize lenders that make things easier for you. For instance, do they offer a wide range of loan amounts for people with different borrowing needs? Do they offer at least several loan terms to give you more flexibility with your monthly payment? And, crucially, can they fund your loan quickly? A lender will also get bonus points for offering direct payments for debt consolidation or other customer-friendly features.
• Transparency: We believe personal loan terms should be easy to find and decipher. Prequalification, which lets you check what rate you may qualify for without a hard credit inquiry, is particularly important. We also check to see if a lender has been recently penalized by regulators.

*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.