ASAP Finance is an online loan marketplace connecting borrowers with direct lenders offering payday loans and cash advances up to $5,000 with same-day to next-business-day funding.
Data compiled from public sources · Rating from CreditDoc methodology
ASAP Finance is an online lending platform that functions as a marketplace, matching borrowers with a network of direct lenders. The company was created to help consumers access short-term emergency cash quickly, particularly those with poor credit histories or past credit issues. The platform emphasizes speed and accessibility as core values, positioning itself as an alternative to traditional banks and credit unions that may reject applicants based on credit scores.
ASAP Finance offers cash advances and payday loans ranging from $100 to $5,000, with funding typically available within one business day or as quickly as the same day via direct deposit. The application process is streamlined: borrowers complete an online form in approximately 5 minutes, receive an instant loan decision by email, and can have funds deposited to their checking account if approved. The company advertises that it does not perform hard credit checks through major credit bureaus, meaning the application process will not impact a borrower's credit score. They offer multiple loan types including payday loans, personal loans, installment loans, emergency cash advances, and tribal online loans.
ASAP Finance distinguishes itself by claiming to apply strong requirements when vetting lenders, explicitly accepting applicants with bad credit, and charging no additional fees to borrowers for using their matching service. The company states its service is "100% free" and that it works with direct lenders only, positioning this as a cost-saving advantage. They also provide transparent APR calculations on their website, showing a representative example where a $300 loan over 14 days carries a 391% to 782% APR depending on lender fees ($45-$90).
However, potential borrowers should understand that these are high-cost short-term loans typical of the payday lending industry. The APR ranges disclosed (391%-782% on the representative example) reflect the reality that these loans are significantly more expensive than traditional personal loans or bank products. Repayment typically occurs via automatic withdrawal from checking accounts on payday. While ASAP Finance positions itself as a helpful intermediary for people with poor credit, consumers should carefully evaluate whether a payday loan aligns with their financial situation, as the high costs and short repayment terms can create debt cycles.
See which lenders actually approve borrowers with bad credit. We compared APRs, fees, minimum scores, and funding speed.
Yes. ASAP Finance is a registered company, headquartered in Indianapolis, IN.
Results vary by individual situation. Contact the provider to discuss expected timelines for your specific needs.
CreditDoc Diagnosis
ASAP Finance is best for borrowers with poor credit who need emergency cash within 1-2 business days and understand they will pay substantially higher interest rates (300%+ APR) compared to traditional lending products. The primary caveat is that these are expensive short-term loans designed for immediate cash needs, not ongoing credit solutions, and the high costs and short repayment terms can trap borrowers in debt cycles if used repeatedly.
qlofor.com is a loan marketplace that connects borrowers seeking $1,000–$5,000 personal loans to a network of lenders, with potential funding within 24–48 hours.
Best for: Borrowers with damaged credit seeking fast approval from lenders willing to underwrite non-prime applicants, Individuals facing immediate financial emergencies (car repairs, medical bills) who prioritize speed over lowest rates
Don Dinero Financial offers installment loans, personal loans, and credit builder loans in Phoenix, Arizona, with fast approval and flexible payment terms.
Best for: Phoenix-area borrowers seeking alternatives to payday loans with flexible repayment, Consumers wanting to build credit while accessing needed funds
Tennessee-based CDFI offering flexible small business loans, affordable housing financing, and sustainability lending to underserved entrepreneurs and communities.
Best for: Small business owners in low-income Tennessee communities who don't qualify for traditional bank financing, Entrepreneurs seeking $10,000+ growth capital with flexible underwriting criteria
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Read guide →New to credit and lending? Here are the key terms used on this page, explained in plain language with real-number examples.
The total yearly cost of borrowing money, including the interest rate plus any fees the lender charges. Think of it as the 'true price tag' on a loan.
Lenders must show APR by law (Truth in Lending Act) because the interest rate alone can hide fees. Comparing APR across lenders is the most reliable way to find the cheapest loan.
Example
You borrow $10,000 at 6% interest for 3 years, but there's a $300 origination fee. The interest rate is 6%, but the APR is 6.9% because it includes that fee. You'd pay $304/month and $946 total in interest.
Interest calculated on both the original amount borrowed AND the interest that's already been added. It's 'interest on interest' — and it makes debt grow faster than you'd expect.
Credit cards and many loans use compound interest. If you only make minimum payments, compound interest is why a $3,000 balance can take 15 years to pay off.
Example
You owe $1,000 at 20% annual interest compounded monthly. After month 1 you owe $1,016.67. Month 2, interest is charged on $1,016.67 (not $1,000), so you owe $1,033.61. After 1 year without payments: $1,219.
A special APR calculation used for military servicemembers that includes ALL costs — fees, insurance, and add-ons — capped at 36% by federal law.
The Military Lending Act protects active-duty servicemembers and their families from predatory lending. Any lender charging above 36% MAPR to military is breaking federal law.
Example
A payday lender charges a $15 fee per $100 borrowed for 2 weeks. For civilians, that's technically legal in some states. For military: that works out to 391% MAPR — illegal under the MLA.
The maximum interest rate a lender can legally charge in a particular state. Charging above this rate is called 'usury' and is illegal.
Usury laws are your main legal protection against predatory interest rates. But beware: some states have weak or no usury caps, and federal banks can sometimes override state limits.
Example
New York caps interest at 16% for most consumer loans (25% is criminal usury). If a lender tries to charge you 30% in NY, that loan is unenforceable — you could fight it in court.
An asset you pledge to the lender as security for a loan. If you stop paying, the lender can seize and sell that asset to recover their money.
Secured loans (with collateral) have lower interest rates because the lender has less risk. But you could lose your home, car, or savings if you default.
Example
A mortgage uses your house as collateral. A car loan uses your vehicle. A title loan uses your car title. If you miss payments, the lender can foreclose or repossess.
A charge added to your account when you miss a payment deadline. Most credit cards charge $29-$41 per late payment, and many loans have similar penalties.
The fee itself hurts, but the real damage is to your credit score. A payment 30+ days late stays on your credit report for 7 years and can drop your score 60-110 points.
Example
Your credit card payment of $150 is due March 1. You pay on March 18. The bank charges a $39 late fee. If it's 30+ days late, it gets reported to credit bureaus and your 760 score drops to 670.
A fee your bank charges when a payment bounces because there isn't enough money in your account. Also called a 'bounced check fee' or 'returned payment fee.'
NSF fees hit you twice — your bank charges you AND the company you were trying to pay may charge their own returned payment fee. That's $50-70 for one missed payment.
Example
Your auto-pay tries to pull $350 for rent, but you only have $280 in checking. Your bank charges $35 NSF fee. Your landlord charges $25 returned payment fee. Total damage: $60 in fees.
The practice of charging interest rates higher than what the law allows. Usury laws set state-specific caps on how much lenders can charge.
If a lender charges usurious rates, the loan may be void, penalties can be reduced, or you may be entitled to damages. Know your state's limits.
Example
Your state caps consumer loans at 24% APR. An online lender charges you 36%. That loan may be unenforceable, and you might only need to repay the principal — no interest or fees.
Using your credit card to get cash from an ATM or bank. It's one of the most expensive ways to borrow — higher interest rate, immediate interest accrual (no grace period), and an upfront fee.
Cash advances are a debt trap: 25-30% APR with no grace period plus a 3-5% fee. Interest starts the second you withdraw, not at the end of the billing cycle.
Example
You take a $500 cash advance. Fee: $25 (5%). Interest: 28% APR starting immediately. After 30 days, you owe $536.67. After 6 months of minimum payments, you've paid $85 in interest on $500.
Want to learn more? Read our Financial Wellness Guides for in-depth explanations and practical advice.
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