Banks have many advantages. They offer insured savings, convenient checking, and around-the-clock ATMs. But what they aren’t known for is speed. Banks, for various reasons, are cautious institutions that require careful underwriting of loans to assess the risks of default and require oodles of paperwork when you apply for a loan. But things have improved. Many banks now offer apps that allow you to do remote banking without visiting branches. You can even apply for a loan on a bank website. But even so, the period between applying for a bank loan and receiving the funding can stretch out for days or weeks. You may qualify for Payday Alternative Loan (PAL) if you’re a member of a credit union. These are two credit union loans, PAL I and PAL II, that help borrowers avoid taking out a predatory payday advance loan. Not every credit union offers PALs, so you may want to contact customer service before visiting a branch. Meanwhile, the online loan service companies reviewed in this article take just a few minutes to submit your loan request, and you may receive a loan offer within seconds.