Sometimes you need cash, and fast, for a broken-down car, a trip to the emergency room or an overdue utility bill.
If you have to borrow that money, your options include online personal loans and credit card cash advances, which can put money in your hands immediately. Loans from banks or credit unions could take a few days to a week or more.
Before you take cash from any lender, take a few minutes to shop around, especially if you have no credit or bad credit. The trade-off for borrowing fast cash could be a sky-high annual percentage rate that leaves you in debt for a long time.
The table below compares the cost of a three-year, $1,000 loan for someone with average credit. How much you pay in interest and fees will depend largely on your credit profile.
n this article, you’ll see ways to borrow loans as quickly as the same day or the same week — as well as options that don’t involve borrowing at all.
Quick cash, without a loan
Before making a hasty decision to take out a loan, see if you can delay paying for the emergency expense or find interest-free sources of cash:
- If you’re facing a large medical bill, review the charges and try negotiating instead of taking the bill at face value
- If you have a job, ask your employer for an advance on your next paycheck; some employers have assistance programs for their employees. You can also consider using an app like Activehours that lets you draw from your own paycheck before payday.
- Ask family or friends for help, using a contract that details your plan to pay them back
- Check out other ways to make fast cash
How to get cash in a day
A credit card cash advance, loans from online lenders, payday lenders and pawnshops are some of the ways to borrow money quickly.
QUICK LOANS ONLINE
Some online lenders offer loans in as little as an hour or within one business day. Loan amounts usually range between $2,000 and $50,000. At a reputable lender, rates are based on your credit profile and capped at 36%. Some lenders cater specifically to people with bad credit or those with good credit.