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  • Last Minute Loan Options

    When the rent is due today or your auto lender is threatening to repossess your car unless payment is received within 24 hours, where can you turn to get money fast? While your situation may seem dire, there are lenders who are willing to accept an application, make a lending decision within minutes and have the money in your bank account the next day.

    Don’t Worry About a Credit Check

    If you have poor credit or no credit, it may be beneficial to apply for a payday loan. Applications only take a few minutes to fill out, and you will most likely get a loan decision and your money in the same day. Generally, payday lenders only look to see that you have some source of income and determine your loan amount based on your track record with the lender. Therefore, there is no reason to worry about not getting the cash you need because of your bad credit or lack of a credit history.

    Use Your Assets for Leverage

    Another option would be to borrow against the equity that you have in an asset such as your car. A car title loan allows you to borrow up to 60 percent or more of your car’s value. Therefore, if your car was worth $10,000, you could get a loan for up to $6,000 or more depending on the lender’s standards. While some lenders may require a physical vehicle inspection prior to disbursing loan proceeds, it may be possible to simply email photos of your car to complete the inspection process.

    Peer Lending Is a Relatively Quick Process

    If you have good or above average credit, you may not want to pay the interest rates associated with a payday or title loan. In such a scenario, it may be best to look into peer loans. A peer loan is funded by individuals as opposed to institutional lenders. This means that you may get a lower interest rate compared to traditional personal loans, and there is a better chance of getting your loan funded within a matter of days. Peer loans offer you the ability to borrow up to $40,000 at a time, but most people borrow $1,000 to $10,000 per loan.

    Apply for a Credit Card

    Assuming that you have a few days before a major bill is due, it may be possible to apply for a credit card and use those proceeds to pay it off. It is possible that you will receive an instant loan decision if you apply online. After the application has been approved, you should receive your credit card within 7-10 days. Activating the card should only take a few minutes, and you can start to use it however you want after doing so.

    If you need cash in a hurry, it is critical that you know where to turn for the funds you need to keep your car, home or spot in school. Payday loans, title loans or even a credit card can provide you with quick financing for the bills that you can’t afford to let go unpaid for long.