Getting Loans When Banks Are Closed: Places to Borrow Money on Sundays

Getting a loan can be difficult when traditional lenders like banks are closed. But what if you need money on a Sunday or holiday when most banks are shuttered? Are there any options for borrowing money when banks are not open?

The short answer is yes – there are a handful of places that offer loans on Sundays. While your choices are more limited, it is possible to get approved for financing even when banks are taking the day off.

In this guide, we’ll cover the best options for borrowing money on Sundays and holidays when banks are closed. We’ll look at online lenders, payday lenders, pawn shops, and more.

Challenges of Getting a Loan on Sunday

Before diving into the options, it helps to understand why getting a loan on Sundays and bank holidays can be tricky There are a few key reasons why borrowing is more difficult when banks are closed

• Banks are closed – Since most bank branches shut down for weekends and holidays, you can’t simply walk in and apply for a loan face-to-face.

• Approval delays – Even if you apply online, approval times slow down since banks are not fully staffed on weekends. Decisions may get pushed to Monday.

• Funding delays – Similarly, funding can be delayed since banks are not transferring funds on Sundays. Transferring to external accounts may get held up.

• Verification issues – Lenders have a harder time verifying application details when other businesses are also closed on Sundays and holidays. This can stall the underwriting process.

While these factors make getting a Sunday loan harder, it’s still possible if you know where to look. Let’s explore some of your top options.

Online Lenders Open on Sundays

One of the best sources for borrowing money on Sundays is online lenders. Many online lending platforms operate 24/7, meaning you can apply any day of the week.

Here are some top online lenders to consider for Sunday loan applications:

LendingClub

LendingClub is one of the largest P2P lenders offering personal loans up to $40,000. They allow Sunday applications for personal loans. Approval decisions are made in minutes and funding can be as fast as one business day. LendingClub offers competitive rates from 6.95% to 35.89% APR.

Prosper

Prosper is another peer-to-peer lending marketplace offering personal loans on Sundays. Prosper provides installment loans up to $40,000 with APRs ranging from 6.95% to 35.99%. Applying is 100% online and they fund approved loans in as little as one business day.

Upstart

Upstart goes beyond credit scores to consider education and employment when approving Sunday loan applications. This lender provides personal loans from $1,000 up to $50,000 for Prime borrowers. Upstart’s APRs range from 6.5% to 35.99% for 3-5 year repayment terms.

Avant

Avant is an online lender providing Sunday loan applications for borrowers with fair to good credit (580-700 FICO). They offer personal loans up to $35,000 with APRs ranging from 9.95% to 35.99% and terms between 2-5 years. Avant advertises fast funding in as soon as the next business day.

The benefit of these online lenders is you can complete the entire application from home even on Sundays. As long as you submit early in the day, many provide same-day approvals and next business day funding.

Credit Cards for Instant Borrowing

Another way to access fast financing on Sundays is through credit cards. If you already have available credit, you can use cards for instant spending power. For new borrowers, some issuers even allow instant approval for credit cards usable the same day.

Some top options include:

• Petal Card – Petal approves applicants instantly without a credit check. New borrowers get access to a Visa credit card with a $300-$1,000 limit to use right away.

• Brex Card – Brex issues corporate cards instantly upon approval. Limits start at $5,000 and this Visa card is usable for instant spending.

• Chase Freedom Cards – Chase allows instant approval decisions on the Freedom flex and Unlimited cards with limits from $500 up to $5,000+ for qualified applicants.

As long as you’re approved early in the day, these credit cards provide immediate borrowing ability to tap on Sunday. It’s faster funding than waiting on direct deposits from personal loans.

Payday Loans for Sunday Cash Advances

If you need cash immediately and have a steady paycheck, payday loans allow you to leverage future earnings. These short-term loans provide cash advances repaid on your next pay date.

Payday lenders operate outside normal banking hours, with many offering 24/7 access online or in-store. Here are some payday lenders to consider for Sunday loans:

• MoneyMutual: MoneyMutual connects borrowers with lenders offering payday loans and cash advances even on Sundays. You can apply for up to $5,000 and lenders deposit approved funds as soon as the next business day.

• CashAdvance: CashAdvance works with lenders offering payday loans and Sunday cash advances. Fill out one form and receive offers for up to $1,000 in your account by the next business day in most cases.

• BadCreditLoans: This lender network provides payday loans for borrowers with bad credit. Apply on Sundays for instant decisions and funding in as soon as 24 hours for approved loans up to $5,000.

While convenient, payday loans charge very high interest and fees averaging 400% APR. Only use these as a very last resort for emergency cash on Sundays.

Title Loans Using Your Car as Collateral

If you own a car free and clear, title loans allow you to leverage your vehicle’s value to borrow money – even on Sundays in most cases. These secured loans use your car title as collateral in exchange for immediate cash.

Here are some title lenders accepting Sunday loan applications:

• TitleMax: TitleMax offers Sunday applications at over 1,500 store locations nationwide. They provide maximum title loan amounts up to $10,000 depending on your car’s value.

• LoanMart: LoanMart allows you to apply for car title loans seven days a week through their website or over 115 locations. Maximum borrowing amounts depend on your vehicle.

• Fast Auto Loans: Fast Auto Loans works with lenders that provide instant title loan approvals online 24/7. Loans amounts vary by the equity in your vehicle.

While convenient, title loans have average interest rates over 25% APR and risk car repossession if unpaid. Weigh alternatives before using these expensive Sunday loans.

Pawn Shops Offering Immediate Loan Funding

If you have valuable personal possessions, pawning your items is another way to receive cash on Sundays. At pawn shops, you offer your valuables as collateral in exchange for a pawn loan. Items are held during the loan term before returning upon repayment.

Pawn shops typically offer small, short-term loans at expensive rates. However, they disburse cash immediately on-site making them one of the fastest Sunday borrowing options.

Some nationwide pawn shops to consider include:

• Cash America: Cash America has over 700 locations across the US. Bring in valuables like jewelry, electronics, musical instruments and more to pawn for immediate cash – even on Sundays.

• EZPAWN: EZPAWN is one of the largest pawn shop chains with over 1,000 locations nationwide. They provide instant in-store lending based on the appraised value of items like luxury watches, gold, tools and other pawnable goods.

• Pawn America: Pawn America offers Sunday pawn loans at over 80 locations across 16 states. You can borrow anything from $5 to thousands based on the assessed value of your pawned items.

Keep in mind pawn loans of a few hundred dollars often have effective APRs over 200%. But in a Sunday pinch, they do provide instant cash.

401(k) Loans Leveraging Your Retirement Savings

If you have money saved in a current or former employer’s 401(k) plan, taking out a 401(k) loan allows you to borrow from yourself. These loans use your vested retirement balance as collateral.

The benefit is 401(k) loans have low interest rates around 5%-7% APR since you pay yourself back. You can borrow up to 50% of your vested balance or $50,000, whichever is less.

Before taking out one of these loans, weigh the pros and cons:

Pros

• Low 5-7% interest rate
• Pay yourself back
• Easy approval using your own savings