How Much Can I Borrow?

Pheabs can offer loans ranging from $100 to $35,000 depending on your circumstances. The amount you can borrow will depend on your income, affordability and other debts remaining.  Your credit score will always be taken into account, with those with good or fair credit scores usually able to borrow a little more – but bad credit and poor credit customers will always be considered too. Speak to Pheabs if you need to: Get $200 now Borrow $500 fast Need $1,000 quickly

Earnin: Good for small cash advances

Why an Earnin loan stands out: If you only need a small amount of money, Earnin might be a good fit since it lets you advance small amounts from an upcoming paycheck (starting at $100 a pay period for new members and increasing up to $500). According to Earnin, you could get your money nearly instantly if you’re a past customer and meet certain eligibility requirements. (But keep in mind that depending your bank, you could have to wait longer to access your cash.) And the company says it can take 48 to 72 hours to verify your account during initial setup. If you don’t have its “Lightning Speed” feature, Earnin says it usually takes one to two business days for your money to be funded.

  • Not all types of jobs qualify — You’ll have to meet some basic requirements to use the app: At least half of your paycheck must be sent as direct deposit to a checking account, you have to be on a regular pay cycle, and you need to have a fixed work location or electronic time-keeping system.
  • Optional tips — Earnin doesn’t charge interest or fees — instead it asks customers to tip what they think is fair to support the service.
  • Balance shield alerts — If you’re worried about overdrafting your bank account, Earnin also offers a feature that notifies you when your balance falls below a level you specify.

Read our full review of Earnin to learn more.

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25. Money-making strategy: Do micro gigs on Mechanical Turk

Mechanical Turk is a platform by Amazon that allows you to do small jobs and get paid for it. But don’t expect too much money out of this. These gigs truly are “micro” and range from a few cents to a few dollars at the most. But if you string several of these together, it might be in your benefit. 

You don’t need any serious qualification to do this. Usually, this involves clicking on links, taking surveys, giving an opinion, doing some light categorizing or other human-intelligence tasks (HITs as they like to call it).

2. Money-making strategy: Become a market research participant

In college I participated in loads of market research. It’s fairly quick money for not a lot of work. Companies looking for consumers’ opinions on a variety of products and services put you in a room to garner your opinion. That’s it.

This often involves writing or stating your opinion, answering polls or surveys, or breaking off in a discussion group. The mechanics don’t matter much. The point is that you can rely on it from time to time. Focusgroup.com is just one company that is looking for participants.

Related: 6 Things You Must Quit Doing Now If You Want to Be More Successful

7) Borrow Money From Friends or Family

We saved this one for last because it really should be a last resort. While borrowing money from friends and relatives may be a quick fix, it can lead to some adverse consequences. When a loved one lends you some cash, it can put a strain on your relationship—especially if you don't pay the person back quickly.

According to an article in Psychology Today, unpaid loans can lead to lingering bad feelings between the lender and borrower. If you plan on borrowing money, it's probably best to draw up a contract stating when you will begin to pay back the lender and if you will also pay interest on the money borrowed.

3) Track Down Your Loose Change

At first glance, this advice may seem a little absurd—but it's not a joke. According to a 2016 news report from Bloomberg, Americans throw away approximately $61.8 million of coins in the trash each year. That's a lot of money stuffed in couch cushions, piggy banks, and old paint cans across the nation.

Hunt around the house to collect all those hidden coins. Once you dig up every last cent, haul the trove to your local bank or credit union. Some banks will count change for free for their customers, although others may require you to count and roll your change on your own.

Either way, once you convert those coins to cash, you could have another hundred bucks to put toward your emergency expense.

Will I get approved for a fast cash loan?

Believe it or not, it can be relatively easy to get an instant cash loan. A lender may even approve you without a perfect credit score and history. This is particularly true if you meet the qualifications we discussed above and don’t ask for more cash than you need and can afford to repay.

What you need to request a fast cash loan

Here are some qualifications that you need to request for an instant cash loan.

Must have a drivers license or valid government ID

Some lenders that offer quick cash loans will require that you’re a U.S. citizen. You may also provide a valid government ID like a driver’s license, passport, or Social Security card.

Must be at least 18 years old

Fast cash loans are designed to help adults who are tight on cash. Therefore, you must be at least 18 years old to take one out. 

Must have steady income

If you opt for a fast cash loan, a lender will want to know you have the income to pay it back. You may also be asked to you show proof of steady income through documents like pay stubs and W-2 tax forms.

Must have a valid SSN

You must have a valid Social Security number to take out an instant cash loan. With your Social Security number, a lender can help confirm your identity and prevent potential fraud.

Helps to have an active checking account

Quick cash loans usually deposit funds directly into your checking account, although Advance America offers in-store loans, where you can opt for cash. If you are using direct deposit, lenders will require you to share the account number and routing number of your bank account so they know where to distribute the money.

How Do Repayments Work?

Your repayments will be collected from your bank account on a scheduled pay date that you select – with most customers choosing a date at the end of each month. If your loan only lasts for one month (see payday loans online), then you will likely pay the entire loan and interest in full on your next payday from work. If your loan lasts for 3,6,12 months or longer, you will typically pay back in equal monthly instalments (see installment loans). The lender will automatically collect repayments from your account and send you a reminder by email and SMS on the days leading up to collection, so you are fully aware and there are no surprises.

How to Earn Money Fast

Let’s say you dislike loans and want to avoid them at all costs. If the emergency is not that expensive, you could easily earn enough through short-term work to repair your car or fund other similar expenses in a day or two. Also, if you take any of these quick loan solutions we’ve discussed above, you’ll find yourself with more than enough interest rates to cover and might need an extra job anyway. But, which odd jobs pay well?

Drive People or Food Around Your Town

If you have a car, you can put your weekends or evenings to good use to earn some fast cash. You can sign up with some popular solutions, such as Uber and Lyft, and get paid for giving people a ride. If you are not up for chatting with strangers, you can sign up with delivery services such as Postmates and OrderUp. These will pay you to be a delivery driver for takeout and other items.

Babysitting and Dog Sitting

If you like spending time with cute babies or puppies and other fluffy friends, then babysitting or dog sitting overnight are excellent ways to make extra money. You can sign up with some of the most popular websites in the niche, such as Care.com and Rover, which will effortlessly match you with parents in need. A babysitters’ average hourly wage is $28 an hour, and as a dog sitter, you can earn around $14 per hour. Overnight pet sitting can net anywhere from $20 to $60, depending on the area you’re in.

Airbnb Your Spare Room

If you have a spare room, you can rent it on Airbnb. While often associated with whole vacation homes or apartments – Airbnb also allows extra room (even shared room) listings. Consider listing your spare room if you want to make money and live in a reasonably popular part of town that legally allows short-term rentals. Airbnb has a  3% service fee, and you can expect the payment about 24 hours after the guest checks in.

Sell Your Knowledge or Craft

Online tutoring has been all the rage in the past decade or so. If you have extensive knowledge on a particular topic, there is no reason you shouldn’t share it with others. These days, you can become a virtual tutor for students on various topics and earn some quick money while you’re at it.

On the same note, if you are a master of a particular craft or have a creative hobby, you should consider selling your handiwork. You can set up an Etsy business or sell on Facebook, Craigslist, or other online marketplaces for some quick cash.

How long would it take to apply for a quick cash loan?

Our loan request form is very clear and concise. We stick to the points that we need to process your personal loan request. Filing and submitting the form should not take more than a few minutes. You maybe be able to get cash on the same day if possible.

You can fill out the form 24X7 from the comfort of your living room.

Marcus by Goldman Sachs: Good for people with strong credit

Why a Marcus personal loan stands out: Marcus says it usually takes between one and four business days for you to receive approved funds after verification of your bank account. But you’ll likely need fairly strong credit to qualify, and Marcus says only people with “excellent credit” may qualify for its lowest rates.

If you only need a little bit of money, Marcus might not be right for you since its loan amounts range from $3,500 to $40,000.

  • No-fee promise — Marcus says it won’t charge you any common fees such as late fees, origination fees or a prepayment penalty. That can be attractive if you don’t want to feel like you’re being nickel and dimed to take out a loan. Just keep in mind that if you miss a payment, you’ll accrue more interest — and the information may appear on your credit reports.
  • On-time payment rewards — If you’ve made 12 consecutive monthly payments on time and in full, Marcus will let you defer one payment (and extend your loan term by one month).
  • Autopay discount — Marcus offers a small rate discount on its personal loans if you enroll in automatic monthly payments.

Check out our full review of Marcus personal loans to learn more.

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Here are some Loan Methods when you need Emergency Cash Immediately

Loan Method #1: Resale/Pawnshops

Okay, granted this is the way you want to go if you have jewelry, electronic equipment, tech gear, or even an old stamp collection. This is a good way to just sell off some clutter in your home that you might not need or want anymore. Plus, it’s instant cash or a check on the spot. When you are truly in a bind, this can help you get through a few days until you can get a more significant loan. Or if you are one of those people that need a short term loan with bad credit.

Loan Method #2: Payday Lenders

This kind of loan only works if you have a regular paycheck coming in on a weekly or biweekly basis. There are “cash advance” or payday lenders all over the place in most major cities. All you need to do is Google to find a listing nearest to you. Some of the more popular ones are Speedy Cash, Money Tree, or Fast Loan Advance.

Make sure you bring a few different pay stubs, your picture ID, and some places require that you have a checking account with actual checks and not just a regular debit card. It takes around twenty to thirty minutes to sign up for your first loan because they go through a ton of paper work and make you sign different forms. The second time you go in, it’s much faster.

Loan Method #3: Credit Card Advance

Of course, with this loan method you need to have a credit card with some available credit on it. If you find that you are maxed out it might be a good idea to call your credit card company to ask for an increase. Then you can usually take out a cash advance right at an ATM of a certain amount of money. These specific amount varies per your available credit and how much the credit card company will let you advance.

If you find you need more, it’s always a good idea to call and talk to an actual customer service specialist who might be able to help you out if you are in a serious emergency situation and you have always been in good standing with them payment-wise.

Loan Method #4: Bank Loan

Your regular bank might be able to give you a short term or small cash loans online. This is especially true if you are also in good standing with them and don’t have a history of racking up overdraft fees. Some of the large chains like Wells Fargo, Bank of America, and Chase have programs in place that will come to your rescue if you need emergency funds. Check with your banker at your local branch to find out how they might help you secure a bank loan.

Loan Method #5: Local Credit Unions

Local credit unions are all about financial wellness, so they might be able to help you out in a pinch. Even if you aren’t a member, it’s worth looking into because they offer a variety of services that might be able to get you through a difficult financial time in your life with a job loss, illness, or family situation.

Loan Method #6: Peer Lending

Peer lending or straight up asking for donations through social media like Facebook, Twitter, or IG might seem a little desperate, but think about it. You have a full list of family and friends on Facebook. They might be more than happy to swing a few bucks your way if you are in dire need.

Facebook even has a program that will populate a page for you to ask for charitable donations from the people on your friend list that you invite. This is an excellent way to help with money for school, medical bills, or even late mortgage payments if you have some generous friends.

What exactly are fast cash loans?

Cash loans are fixed-interest rate installment loans for a pre-defined tenure. The tenure can range anywhere from a few months to a few years. These loans are ideal when you have an emergency or need to pay for unexpected expenses.

The whole amount of the cash advance loan is paid out in one single payment. Then, the borrower pays back the loan via regular installments. They are for short-term financial needs and good for people with bad credit.

Cash loan payments are an excellent alternative to bank loans. The Loans offered by us, in general, have maximum loan amounts of 00. This makes it easy to repay.

3. Take out a cash advance on your credit card

Now, if you need emergency money and it doesn’t matter if it’s cash or not, then you can put the balance on your credit card. But this only applies if you already have a credit card with a low outstanding balance. Generally, you want to keep your credit card balances below thirty percent, but when an emergency strikes, you might not have any better options available.

If you don’t already have a credit card, however, then a poor credit score is going to limit your options for getting one. You might only be able to apply for a secured credit card, but that will require a cash deposit to set your credit limit, putting you right back where you started. Besides, it can take that card awhile to arrive, and by then it might be too late.

For emergency expenses that require cash, taking out a cash advance on your credit card might be your best bet. That doesn’t mean it doesn’t carry significant risks to your financial health, it just might be the least-bad option you have.

Credit card cash advances work a lot like using your debit card to get cash from an ATM. The main difference is that cash you get on a debit card is money you already have in your bank account, whereas a credit card cash advance is money that you’re borrowing. When you get an advance on your credit card, the amount you withdraw is then added your outstanding balance, just like when you use your card to make a purchase.

The biggest downside to credit card cash advances is that they are more expensive than regular credit card purchases. They come with an upfront fee just for making the transaction that averages $10 or 5 percent of the amount withdrawn, whichever is higher. The APRs for cash advances are also much higher than the APRs for regular transactions, and the lack of a 30-day grace period means that interest starts accruing immediately.

Lastly, there limits on credit card cash advances that, depending on the card, might be lower than the amount you need. These might be limits on the amount that you can withdraw per day or per transaction; your card also likely has an overall limit for cash advances. Even if a credit card cash advance is the best of your bad options, they’re still putting your finances at risk.

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