Sometimes in life, we need to get hold of money very quickly. This can be for a whole range of reasons, but it happens. It sucks, but life is this way, and few of us know just how to get hold of the money we need when things get tough.
There are plenty of loans out there that can help us, but so many of them have waiting periods, be they days, weeks, or even months in some cases. Many times in our lives we cannot wait this long.
Often we are struck with emergencies that require a sum of money we need ASAP, and when this happens we need to turn to ways to get our mitts on cash pronto.
So what do you do?
5 Ways To A Fast Loan
Has a financial emergency struck you in the gut and is forcing you to cough up cash real soon? Cash you may not typically have just stored away?
If that is the case, there are several ways you can get a fast loan to save your hide, and these may not all be traditional methods that you would usually think of.
But that is why we are here, to get you the answers to your problems easily, so you can grab that cash and have financial safety as soon as possible!
#1. Online Lenders
Online lenders usually have paperwork go through faster than from banks and credit unions in person. They do the same thing, but online services save on time and money, so things are easier and faster.
You do not need to go to a branch, fill out paperwork and wait. You get it conveniently through your smart device.
Online lenders can offer small or large amounts, like how CreditNinja offers $900 loans. Even this small amount can help you through a tough time and bring you out the other end unscathed. It can be a great way to get a quick loan, easily.
#2. Credit Card Cash Advances
If the loan you need is not too big you can get a cash advance. One of the best things about these is how fast they are. You just need to go to a teller machine, thrust in your card information and withdraw.
It’s super easy, and obviously there are some downsides. Nothing is perfect. You will usually get a higher APR rate than when you make credit card purchases, and they will charge you immediately too.
You will also need to pay an advance fee. So, it’s up to you if you see a cash advance as a route you can take.
#3. Advance Pay From Employer
It is not always ideal, but employers can also give you early access to your wages in advance should you need it.
In fact, a good 44% of workers in the U.S. have received a partial or total advance on their earnings if they are a gig employer.
This is not common for every situation, but it can be done. It is something you can speak to your employer about to find out if it is an option for you.
#4. Borrowing Money From Someone You Know
We do not often like asking for money from our family or friends. But family and friends do not slap an interest rate on what you owe them. If you are in desperate need and the sum is not too high, a friend or family member may be able to lend you a helping hand.
#5. Non-Profit Credit Unions
We often forget that there are services out there that can help us. Some places have nonprofit credit unions sprouting up, they will help locals to get a low-interest loan when an emergency strikes to avoid people racking up high-interest debts.
Doing so prevents communities from having countless residents slipping into financially low places, and can keep whole communities functioning properly.
Easy Loans To Get
If these options are not viable to you there are still other options out there. There are some loans that are easier to get than others. However, we do not usually recommend these as they can come with a hefty price sometimes.
Remember, only ever take out a loan if you absolutely have to!
Emergency Loans
These loans are exactly what they sound like. They cover things like repair costs and medical bills. You can borrow $1,000 plus with these. In some cases you can even get the cash within 24 hours of signing the agreement.
You will get an interest rate based off of your credit score however, so do take this into account. The biggest risk here revolves around how good your credit score is.
Payday Loans
Payday loans can be good for some. They are small, short-term loans to tie you over to your next payday, you will often have to pay them back 2-weeks after taking out the loan. They are easy to get however they have high interest rates.
They can often stick you in a cycle of debt where you have to take out another loan to pay off the old one.
No Credit Check Loans
No credit check loans are great if your credit is too bad to get an emergency loan, however, you will have to accept that these loans come with a high interest rate as they need security for the lender if your credit has not been checked for security in repayment.
Interesting Related Article: “What is a Loan Modification?“