Dollar Connect Personal Loans Alternatives

When you need some quick cash to see you through until your next paycheck, personal loans are the best choice. Fast personal loans, like the ones that Dollar Connect used to offer, are a quick way to borrow money in a financial emergency. And if you have bad credit, most lenders can still cater to you.

There are various lenders that have personal loans, and in recent times, Dollar Connect used to be a marketplace for connecting people to such lenders. With the platform shutting down, many people in search of lenders for poor credit and personal loans in an emergency might face inconvenience. At The Simple Dollar, we have rounded up the four best alternatives to Dollar Connect, based on the interest rates, loan amounts, customer satisfaction and support and fees using the SimpleScore methodology.

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      The best alternatives to Dollar Connect personal loans

      Compare the best alternatives to Dollar Connect

      Lender APR Terms Loan Amount
      OneMain Financial18%–35.99%24–60 months$1,500–$20,000
      RISE Credit50%–299%4–26 months$500–$5,000
      LendingPoint9.99%–35.99%24–48 months$2,000–$25,000
      Avant9.95%–35.99%24–60 months$2,000–$35,000

      Best for joint applications – OneMain Financial

      Not all personal loans allow co-signers but OneMain Financial has you covered with its quick and easy loans.

      APR Range
      18%–35.99%
      Loan Amount
      $1,500–$20K
      Term
      2–5 years
      SimpleScore
      3.3 / 5.0
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      SimpleScore OneMain Financial 3.3
      Rates 2
      Loan Size 3
      Customer Satisfaction N/A
      Support 5
      Fees 3

      As one of the largest personal lenders in the country, OneMain Financial stands apart from other companies by focusing on customers with poor credit. Headquartered in Indiana, OneMain Financial has offices in 1600 locations across the country, and you do not require a minimum credit score to be able to qualify. The rates are fixed, there are no prepayment fees, and the loan can be repaid in easy monthly payments. Applications can be filed online and loans are usually funded in one business day. The best part? You get to add a second borrower and file a joint application.

      All the perks aside, OneMain Financial tends to charge steep interest rates for personal loans. There’s a seven-day grace period but the longer you take, the more expensive the loan becomes. For larger loans, you may also require a collateral, and you must visit the lender’s office to be able to close a loan.

      OneMain Financial Disclosure

      Not all applicants will qualify for larger loan amounts or most favorable loan terms. Loan approval and actual loan terms depend on your ability to meet our credit standards (including a responsible credit history, sufficient income after monthly expenses, and availability of collateral). Larger loan amounts require a first lien on a motor vehicle no more than ten years old, that meets our value requirements, titled in your name with valid insurance. Maximum APR is 35.99%, subject to state restrictions. APRs are generally higher on loans not secured by a vehicle. The lowest APR shown represents the 10% of loans with the most favorable APR. Active duty military, their spouse or dependents covered under the Military Lending Act may not pledge any vehicle as collateral for a loan. OneMain loan proceeds cannot be used for postsecondary educational expenses as defined by the CFPB’s Regulation Z, such as college, university or vocational expenses; for any business or commercial purpose; to purchase securities; or for gambling or illegal purposes.

      Borrowers in these states are subject to these minimum loan sizes: Alabama: $2,100. California: $3,000. Georgia: Unless you are a present customer, $3,100 minimum loan amount. Ohio: $2,000. Virginia: $2,600.

      Borrowers (other than present customers) in these states are subject to these maximum unsecured loan sizes: Florida: $8,000. Iowa: $8,500. Maine: $7,000. Mississippi: $7,500. North Carolina: $7,500. New York: $20,000. Texas: $8,000. West Virginia: $7,500. An unsecured loan is a loan which does not require you to provide collateral (such as a motor vehicle) to the lender.

      Best for free credit score monitoring – RISE Credit

      Need some fast cash with a free credit report? RISE Credit has you covered

      APR Range
      50%–299%
      Loan Amount
      $300–$5K
      Term
      4–26 months
      SimpleScore
      2.5 / 5.0
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      SimpleScore RISE Credit 2.5
      Rates 1
      Loan Size 1
      Customer Satisfaction N/A
      Support 3
      Fees 5

      Available in 30 states across the US, RISE Credit is another easy alternative to payday loans for people with fair, poor or no credit. There are no origination or prepayment fees, refinancing options are offered optionally and when applying for a loan you also get to check the health of your credit. Loans are funded in less than a business day, based on income information and credit report.

      On the downside, loan amounts are limited to $5,000 and in some states you might have to pay interest rates as high as 299%. Joint applications and co-signers are not allowed.

      Best for extended repayment options – LendingPoint

      Want to pay off a personal loan over a few years? LendingPoint gives you two to four years of time

      APR Range
      9.99%–35.99%
      Loan Amount
      $2K–$25K
      Term
      24–60 months
      SimpleScore
      3 / 5.0
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      SimpleScore LendingPoint 3
      Rates 2
      Loan Size 3
      Customer Satisfaction N/A
      Support 4
      Fees 3

      Personal loans are typically taken out for an emergency, so an extended repayment period is always welcome. LendingPoint lets you borrow up to $25,000 and offers a repayment period of your choice between two to four years. You also get a soft credit check with an option for pre-qualification and can change the repayment date anytime. LendingPoint reports to two out of the three major credit bureaus and takes your credit score, job information and payment history into account to approve or deny your application.

      To qualify, you need a minimum credit score of 585, so people with no credit are not eligible, and joint applications are not allowed.

      Best for secured loans – Avant

      Want to borrow money against an asset? Avant offers secured personal loans to bad and fair credit borrowers

      APR Range
      9.95%–35.99%
      Loan Amount
      $2K–$35K
      Term
      24–60 months
      SimpleScore
      3.2 / 5.0
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      SimpleScore Avant 3.2
      Rates 2
      Loan Size 5
      Customer Satisfaction 2
      Support 4
      Fees 3

      Our valuables usually tend to gather dust until we need money on short notice. But wait before you sell your assets. Chicago-based Avant Credit offers a secured personal loan option against your car, letting you borrow up to $35,000 with next-day funding. Started in 2012, this online platform charges rates on a par with other bad credit personal loans, and the minimum credit score required is 550. You have the option to change the payment date, get a soft credit check with pre-qualification, and for people with fair credit, a secured loan can have interest rates as low as 9.95%. Additionally, Avan’ts mobile app makes it easy to manage your loan on the go.

      However, you cannot add a co-signer or have your debts paid off directly to the creditors in case of debt consolidation. Avant also charges an origination fee of 4.75%.

      Avant Disclosure

      The actual loan amount, term, and APR amount of loan that a customer qualifies for may vary based on credit determination and state law. Minimum loan amounts vary by state. Avant branded credit products are issued by WebBank, member FDIC.

      What you can use a personal loan for 

      When you’re living from paycheck to paycheck with little to no savings, the need for urgent money can arise at any time. Personal loans are a good way to get some quick cash for emergencies, such as:

      Medical expenses

      If you or a family member takes ill and requires immediate treatment or hospitalization, it can lead to unforeseen expenses. Even if you have insurance, it might not cover everything. Personal loans are usually funded in less than a day but also come with exorbitant interest rates, which might be more expensive than the cost you are trying to cover. As an alternative, borrowing money from a friend or relative or using your credit card are easier and more flexible ways to get urgent money.

      [Read: The Common Types of Personal Loans, Explained]

      Emergency repairs

      A leaking roof, a burst pipe or a broken car call for emergency repairs. Your insurance might reimburse you later, but when it’s an urgent need, you have to pay out of your pocket. Personal loans are often used for covering such expenses, but the interest rates might leave you with expensive repayments over the next several months. If you have a credit card, you can use it for emergency funding at a much lower interest rate and more flexible terms. You can also borrow money against fixed deposits or sell assets like jewelry or art for quick cash.

      Supplementing income after job loss

      In uncertain times, being laid-off from work can make it harder to pay for emergency expenses. It isn’t difficult to get personal loans even if you have bad or no credit with no income, but you will be saddled with steep repayments for many months, which can be almost impossible without a job or another source of income. If you’re still taking out a personal loan, it is best to have a collateral and make it a secured loan.

      Check Your Personal Loan Rates

      Answer a few questions to see which personal loans you pre-qualify for. It’s quick and easy, and it will not impact your credit score.

      Get Started

      with our trusted partners at Bankrate.com

      Personal loan FAQs

      According to the Federal Reserve, the average rate for a two-year personal loan is 9.65%, though this can vary based on where you live, your credit score and income.

      Terms for personal loans can differ from one lender to another, but the typical term is anywhere between 24 and 60 months.

      A secured loan, where you borrow money against an asset, is the easiest personal loan to be approved for and much quicker than an unsecured loan. Typical assets you can borrow against include vehicles, jewelry, expensive art and collectibles.

      Lenders that offer personal loans of all types are available all over the country. You should choose the lender according to your credit history and if you aren’t sure, it is best to select a bad credit lender. Approval and finding usually take less than a day, and since these are short term lending, they often come without the complicated processes of a traditional loan.

      Dollar Connect was not a lender; it was an online marketplace that matched borrowers with lenders. The platform is no longer in business.

      We welcome your feedback on this article and would love to hear about your experience with the lenders we recommend. Contact us at inquiries@thesimpledollar.com with comments or questions.

      Cynthia Widmayer

      Contributing Finance Writer

      Cynthia Widmayer is a Midwest-based business writer helping small enterprises, solopreneurs and creatives tell their brand story with engaging web content. She is also an adult romance novelist on the side.

      Reviewed by

      • Courtney Mihocik
        Courtney Mihocik
        Loans Editor

        Courtney Mihocik is an editor at The Simple Dollar who specializes in personal loans, student loans, auto loans, and debt consolidation loans. She is a former writer and contributing editor to Interest.com, PersonalLoans.org, and elsewhere.