So, you are facing an emergency and you do not have enough saved to handle it. Are small cash loans available? If this is what you ask, we have your answer.
There are quite a few lending options available to you. The rates and fees that you pay will be credit dependent but it never hurts to investigate, especially with loan quotes being free of charge.
6 Ways To Get A Small Loan Fast
Don’t let your desperation cause you to make a bad decision. Loans, even those for small dollar amounts are a serious matter. And, borrowing money, even from friends and family could prove to be tricky.
Thankfully, there are a lot of options that can get you money fast, as soon as the next day if you act quickly.
1. Begin With An Installment Loan Quote
Not all installment quotes are created equally. With most, you have one lender behind it with one list of requirements. Don’t meet one of the requirements and your quote is done. Our website gives you access to a lending network which makes fast approval much easier.
Fill out one simple form and you are on the way. If the first lender does not approve you, your info goes securely to the next one and so on and so on. It is the fastest way to get your small dollar loan, with loan amounts starting at just $100.
2. Look To Your Personal Banker
Your regular bank may be able to help you with a loan. The only drawback to this is time. It can, unfortunately take days to get an approval from a bank for a loan. In addition, you should have good credit and be ready to provide some financial documents.
If you have the time to wait, this might be a good option for you because you will surely get the best rate. If time is a factor, then this might bot be your best answer.
3. Get A Credit Card Advance
If you have a credit card, it is a simple matter to get a cash advance from it. All you have to know is your pin number. This should have been established when you received the card. Typically they send you the card in one envelope and your pin in a separate one for security.
Just take your card and your pin number to an ATM and use your credit card just like you would your debit card. Pull out the money you need and immediately have cash in hand to handle your problem.
This is a super fast solution to your problem unless, you do not know your pin number. If you need to get a new pin number, you would need to contact your credit card company and have them send one to you. It could take days by mail.
4.Ask Your Family For Help
That is what your family is there for. If you know someone in your family who is willing to lend you the small dollar loan that you need, be sire to use caution.
Make sure that you know what is expected of you before you take the money. Are they willing to take payments? Do they expect it to be paid all at once? Ask if they are going to charge interest. These are important things that must be considered.
Many a relationship has been damaged because of money.
5. Try A Pawn Loan
Pawn shops are not the greatest to deal with but if you only need one or two hundred dollars, they could be a good choices.
With a pawn loan, you put down property in exchange for a cash loan. When you pay off the loan, you get your property back. There will be interest and fees on the loan. In addition, most shops will charge you storage fees for the property they are holding.
The thing you need to ask yourself at the beginning of a pawn loan is if it is better to take the loan, or just sell the property outright.
6. Obtain A Secured Loan
A secured loan is one that is, obviously, secured. It is either secured by your property or other assets that you have. A few examples are home equity loans, title loans and 401K loans.
The best option is a 401K loan because the payments will be low and you will be paying interest back to yourself.
Title loans should be used with caution because they can be tricky. Default on them and the lender WILL take your vehicle.
Home equity loans are not really used for small dollar amounts. Besides, they take some time to process.
3 Reasons A Payday Loan May Be The Solution
You have been given a lot of options above and which one you take depends on your situation. When most people ask about how to get a small loan fast, they, well, need money frantically. Payday loans get you the money fast and are a good answer.
Sure they have high fees but the fees are often worth it and when you think about it might not even be that high. Here are some things to consider.
1. Fees May Be Acceptable
Fees will range from lender to lender but an average fee might be something like $15 per $100 borrowed. That is a fee of only $30 on a $200 loan. Not that much really if it solves your problem fast.
The reason people say these fees are so high is because the loan term is short. By factoring the average two week loan term, you get an interest rate of more than 400%. Sounds bad that way.
You decide, is it worth $30 to solve your problem now?
2. Approval Is Faster & Easier
The process of getting approved for a payday loan is quick and easy. Fill out one simple form that takes about two minutes and you are done. Credit checks are minimal with many lenders not even checking the major bureaus.
Essentially, have a source of income and a checking account? You just met most of the requirements.
3. Money Is Deposited Quickly
Next day deposits are fairly common. Although things like bank holidays and weekends can delay loan funding, most loans can be deposited as soon as the very next day.
In addition, the money is deposited electronically right into your account so it is available for immediate use.