Financial emergencies happen to the best of us, which is why it’s always a good idea to set aside an emergency fund. But if you don’t have an emergency fund, it’s also possible to take out a cash advance loan to cover the expense.
However, this can be challenging for individuals with bad credit. You may have a hard time getting approved for a personal loan, and if you are approved, you may get stuck with terrible interest rates. This is why many people turn to cash advance loans.
A cash advance loan is a short-term loan that is meant to provide temporary relief from financial problems. This includes things like payday loans or cash advances from a credit card. This article will go over some of the best options available to you.
5 Short-Term Cash Advance Loans to Consider
Short-term loans are given in smaller amounts, and the loan term won’t be longer than a few months. These loans are easy to apply and qualify for, even if you have bad credit.
You’ll apply either online or in-person, and the application process is usually pretty quick. Once you’re approved, the lender will give you the cash, minus any fees. The fees for short-term loans are based on the amount you’re borrowing.
If you’re in a true emergency, need access to cash, and don’t want to take out a payday loan, it could make sense to get a cash advance loan. But you’ll want to make sure you compare lenders and understand the terms and conditions.
Short-term lenders tend to charge incredibly high fees that can trap you in a cycle of debt. There being said, if you need to take out a short-term loan, here are five options you can consider.
MoneyMutual is an online lending marketplace that connects borrowers with lenders across the country. You can apply for a cash advance loan of up to $2,500 and receive the funds within 24 hours. The online application process is quick and easy to complete.
The rates vary depending on a borrower’s credit score, but consumers with bad credit are welcome to apply. However, you will need a monthly income of at least $800, and MoneyMutual is not available to borrowers in New York.
CashUSA is another online lending marketplace that helps consumers with bad credit access cash advance loans from $500 to $10,000. APRs range from 5.99% to %, with repayment terms up to 72 months.
If you use CashUSA, the application process is easy, and you’ll receive a decision within minutes. The funds will be deposited in your bank account, and you can get your money in as little as one business day.
CashAdvance is a one-stop-shop for short-term cash advance loans. The company will connect you with its network of lenders and offers loans up to $1,000 or more. You can apply online. It’s very quick and easy.
To qualify for a loan through CashAdvance, you have to be at least 18-years-old and earn at least $1,000 per month after taxes. Your repayments will be automatically deducted from your checking account every month.
Bad https://paydayloansohio.net/cities/miamisburg/ Credit Loans
Bad Credit Loans has been connecting borrowers to its network of lenders since 1998. You can apply for a loan between $500 and $5,000 and receive the funds as soon as the next business day. The interest rate ranges from 5.99% to %, depending on your creditworthiness.
It’s easy to apply for a loan and you have a good chance of being approved, even if you have a bad credit score.