2022’s Best Lenders That Offer $1000 Loans


We considered important elements, including interest rates, costs, loan amounts, and term lengths available. People frequently use personal loans to pay for expensive events like weddings, funerals, and home renovations. You can also use them to pay for expenses that may be slightly less expensive but for which you lack the necessary funds, such as a minor emergency or an inexpensive car repair.

Many personal loan providers start with funding levels of about $5,000. That’s not ideal for someone who needs to borrow a lot less money, though, as it makes them apply for more loans than they need (which means higher monthly payments and interest charges).

Select combed through dozens of personal lenders to locate those that let you apply for as little as $1,000. We considered crucial elements like interest rates, costs, available loan amounts, term lengths, and additional characteristics like how your money is allocated, autopay discounts, customer support, and how quickly you may receive your funds.

Finding the best option

Finding the personal loan with the lowest interest rate and conditions for your needs may be possible by comparing many available options. 

PaydayChampion: All-around Best


  • 99% of personal loan funds are disbursed the following business day if all necessary paperwork is submitted before 5 p.m.
  • from Monday to Friday
  • No costs for an early payoff
  • Will accept candidates who lack a credit score and have a short credit history.
  • Accepts applicants with fair credit (minimum 300 scores)


  • A Social Security number is required.
  • $10 for paper copies of the loan agreement upon request (no fee for eSigned virtual copies)
  • Soaring late fees
  • An origination charge of 0% to 10% of the loan’s target amount is deducted automatically before the loan is disbursed to you.

PaydayChampion has a minimum funding requirement of $100 and allows borrowers to apply for up to $5,000, making it a viable choice for individuals who don’t need to borrow as much. With a minimum credit score requirement of 600, this lender is likewise more lenient regarding who can be approved for a loan; nevertheless, Ipass also accepts candidates with no credit history.

Remember that, as with any other financial instrument that charges interest, you can be charged a higher interest rate if approved for the loan despite having a lower credit score. The interest rates on PaydayChampion are 4% to 36%.

PaydayChampion does charge an origination fee (up to 8% of the amount you borrow) and late fees ($15 or 5% of the past due balance, whichever is bigger), even though there are no penalties for paying off your balance early.

Loan terms for paying back the sum range from 36 to 60 months, which may appeal to borrowers who believe they will require more time to pay off the entire loan.

KashPilot: Best for affordable monthly payments


  • A co-borrower may apply.
  • Possibility to pick up a physical at a branch
  • Anyone can become a member of a credit union.
  • Loans starting at $100


  • $5,000 is the maximum lending amount.
  • Funds are only available to members (no membership is needed to apply)

KashPilot loans can be used for various purposes, such as debt consolidation, home repair, paying medical bills, financing an automobile, and more. Although you don’t have to be a member to apply, you must join KashPilot and maintain $5 in a qualifying savings account to get your funds from this lender, which is a credit union.

This lender has the lowest minimum financing amount on this list, allowing you to get authorized for a loan for as little as $100. If you don’t need $1,000 or more, this could help ensure you don’t borrow more money than you can afford to repay. Interest rates for personal loans range from 5% to 30%. 

Since it will rely on your creditworthiness, not all applicants will be eligible for the lowest rate, but the better your credit score, the more likely you are to get a reduced interest rate. However, you should note that KashPilot delivers its funds through a paper check. 

You can pick up your check whenever you want immediately from the bank if you are aware of a KashPilot location close by. Otherwise, if you pay for expedited shipment, you could get your money as soon as the following day.

ZaxLoans: Best for bad credit


  • Quick finance in just four days
  • Up to $50,000 in loans
  • No costs for an early payoff
  • Can immediately pay creditors


  • Not accessible in every state

ZaxLoans loans accept qualifying consumers with fair or good credit, making it a desirable option for people with less-than-perfect credit.

These loans are quick and simple to obtain, and after submitting the necessary paperwork, all of the monies will be transferred to your checking account the following business day. To account for the origination cost, you should apply for a loan amount closer to $1,080 if you know you’ll need $1,000. All ZaxLoans personal loans have an origination fee of up to 8%, which is withdrawn straight from your loan proceeds.

Although ZaxLoans does not impose repayment penalties, it does charge a late fee: if your payment is not received in full within 15 calendar days of the due date, you may be charged a $10 late fee.

ZaxLoans offers personal loans starting at just $100, just like most other lenders on this list, but approved borrowers can apply for amounts up to $5,000. Loans from ZaxLoans include repayment periods ranging from 24 to 84 months.

RixLoans: Best for adjustable terms


  • No collateral is required.
  • The minimum loan amount is $1,000.
  • There are no origination or early payoff costs.
  • Flexible terms for repayment
  • Fixed APR rate


  • Depending on your ZIP code, rates and terms may change.

With RixLoans, borrowers have the option of a lengthier repayment period; the terms can last up to 60 months. Although you’ll end up paying more in interest over time, this is an intriguing choice for borrowers who would rather have lower monthly payments spread out over longer periods. In general, you are more likely to have a lengthier repayment period the higher your credit score.

Depending on where you reside, you will receive a different interest rate and set of terms (you can enter your ZIP code on their website to get an idea of what the rates in your area are like). 

You’ll also want to ensure your credit score is healthy to improve your chances of being accepted for the lowest rate.

On the other hand, receiving cash from this lender isn’t always the quickest – in some situations, it can take up to 10 working days. There are no origination or prepayment fees. However, there is a late fee of either $40 or 10% of the late payment. Still, this might be a choice for prospective RixLoans clients who would feel more at ease taking out a loan from their current bank.

How We Picked The Best $1000 Lenders

Select examined dozens of U.S. personal loans with no origination or signup fees, fixed APRs, and flexible loan amounts and terms to meet a range of financing needs provided by both online and traditional banks, including sizable credit unions, to decide which ones are the best.

We concentrated on the following characteristics to determine the top personal loans and rank them:

  • Every loan on our list offers customer assistance and can be reached via phone, email, or secure online messaging. To assist you in educating yourself on the personal loan application procedure and your finances, we also chose lenders with an online resource hub or guidance center.
  • Loan quantities and creditor payment thresholds: The above lenders offer loans in various sums, from $100 to $1,000. If you go through the process of preapproval, you can receive an estimate of your lending rates and payment for a specific amount.  Each lender makes its payment requirements and loan amounts public.
  • Autopay discounts: We included the lenders that reduce your APR by 0.25% to 0.5% as an incentive for signing up for autopay.
  • Flexible minimum and maximum loan periods and amounts: Each lender offers a range of financing choices that you can personalize based on your monthly spending plan and the length of time you have to repay your loan.
  • Prompt fund disbursement: The loans on our list send funds electronically via wire transfer to your bank account or via paper check. Some lenders allow you to pay your creditors directly, as we highlighted.
  • No penalties for the early payoff: The lenders on our list do not impose fees on customers who pay off their loans early.
  • Speedy online application process: We considered whether lenders provided same-day approval decisions.
  • Fixed-rate APR: Variable rates may rise and fall throughout your loan. When you lock in an interest rate for the life of the loan’s term with a fixed rate APR, your monthly payment won’t change, making it simpler to organize your budget.
  • No origination or signup fees: No lender on our list of the best lenders charges borrowers a fee upfront to complete their loan.

After looking at the qualities above, we evaluated our recommendations based on which were best for general financing needs, next-day funding, small loans, and debt consolidation.

Please be aware that according to the Fed rate, the listed personal loan charge schedules and rates may fluctuate. Once you approve your loan agreement, a fixed-rate APR will guarantee that the interest rate and monthly payment will remain the same for the duration of the loan.

Your credit history and creditworthiness determine your monthly payment and loan amount.

Before issuing a loan, lenders may conduct a thorough credit check. 

A thorough application and proof of income, identification, residence, and other details will be required.


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