8 Loan Apps in 2024: Cash Advances and Overdraft Protection

We’ve all encountered sudden financial emergencies, and in such situations, loan apps can offer swift monetary solutions. Unlike conventional borrowing methods like credit cards or personal loans, these apps typically function on a subscription or quick-funding fee model, presenting costs in a manner distinct from traditional interest rates. Below, you’ll find a list of eight loan apps designed to provide cash advances and overdraft protection in 2024, ensuring that you have access to money every day when needed.

  1. Brigit: Best for budgeting tools

Offers up to $250 whenever needed.

No tip is required for cash advances.

Paid plans include features like overdraft coverage and credit monitoring.

  1. EarnIn: Best for large advances

Lets you borrow money based on earned wages by tracking work hours.

It features notifications for low bank account balances and automatic balance top-offs.

  1. Empower: Best for fast cash

Provides cash advances, budgeting tools, and bank accounts.

Typical funding time is one day, and an instant delivery fee option is available for quicker access.

  1. Dave: Best for repayment flexibility

Allows borrowing small amounts to cover expenses until the next paycheck.

Requires users to open an ExtraCash account and offers a savings account and a “Side Hustle” feature.

  1. MoneyLion: Best for existing customers

Offers mobile bank and investment accounts, credit-builder loans, and cash advances up to $500.

Access to larger advances and faster funding times for MoneyLion members.

  1. SoLo Funds: Best for peer-to-peer cash advances

Provides peer-to-peer cash advances through a marketplace.

Low fees, mostly optional, and users can choose repayment dates.

  1. Klover: Best for no-fee advances

Offers $100 advances based on bank account eligibility and participation in its points program.

Monetizes by collecting aggregate user data and sharing insights with partners.

  1. Chime: Best for overdraft protection

Customers can overdraw their checking account using a predetermined small amounts that doesn’t involve any fees using the SpotMe feature.

Requires at least $200 in qualifying direct deposits monthly for SpotMe eligibility.

Pros and Cons of Loan Apps:


Fast cash in an emergency: Some apps offer immediate deposits into your account.

May be cheaper than an overdraft fee: Compared to bank overdraft fees, most app fees are relatively low.

No credit check: These apps don’t evaluate your credit, making them accessible to users with low credit scores.

Consistent access: These apps provide quick access to cash without the need for a credit check.


May cause an overdraft fee: Some apps may not guarantee to avoid triggering overdraft fees.

Fees add up: Subscription fees, fast-funding fees, and optional tips can accumulate, making advances costlier.

May lead to repeat borrowing: Easy access to borrowing can result in a cycle of debt if not used responsibly.

Before using cash advance apps, consider these pros and cons, and evaluate the suitability of such solutions for your financial needs.

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