RISE is an online lender that offers $2,600 to $5,000 installment loans to Californians. You don’t need a perfect credit score or high income to qualify. Apply and get approved in minutes, and you could receive cash in your account within one business day*.
In California, RISE offers installment loans with the following features:
Your eligibility and loan offer will depend on several factors, including your credit, income, and history of repaying loans.
While those who don’t have great credit or high incomes may have fewer options to choose from during an emergency, California cash loans can come from a variety of sources.
Here’s an overview of several financial products you could use, along with a few pros and cons to each:
Credit cards and credit card cash advances may charge the lowest interest among the options for low-credit borrowers. However, you may not have a high enough credit limit to meet your needs, or you might not want to be stuck paying off a revolving credit line.
Other borrowing options include pawn shops, although pawn shop loans tend to be expensive and you risk losing your items. You also might be able to borrow money from friends or family, although that can strain relationships.
Unsecured installment loans, also called personal loans, could be less expensive than other options. You also don’t have to put up collateral.
With a title loan, you risk losing your vehicle. Storefront and online payday loans in California may be an option, and the Department of Business Oversight does regulate their use, but they may be more expensive than a RISE California installment loan.
For example, payday loans in California can’t be for more than $300 and lenders can charge a 15-percent fee, which would be $45 on a $300 check. The fee is taken out of your loan, so you’d only receive $255. On a two-week loan, that’s the equivalent of paying 390% APR.
RISE California installment loans allow customers to borrow $2,600 to $5,000 and have an APR from 60% to 225%. There’s no fee to apply and see what rate you’ll receive, and there’s no pre-payment penalty for paying the loan off ahead of schedule.
While lending is the core of our business at RISE, it’s not the only thing we offer.
We’ve also created and are consistently expanding a library of financial wellness resources and tools.
You can learn about credit scores and reporting, find tips for saving money, or check the personal finance glossary to look up a straightforward explanation of financial terms and acronyms.
We also report borrowers’ payments to TransUnion, which could help borrowers who make on-time payments build a good credit history and increase their credit scores.
As a RISE customer, you can watch your progress with Credit Score Plus, a free app that you can use to track one of your TransUnion credit scores. You’ll also receive alerts from TransUnion when new information gets added to your credit report.