Best Cash Advance Loans for Bad Credit
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 payday loans in Nelsonville OH 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 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.