If you are in need of a fast loan, you may think you are out of luck. In reality, you are not. Nowadays, they are many companies out there willing to give you a loan when that “I need money now” feeling comes. They do not care what your past experience with creditors has been nor do they care what you need it for. There are lots of people willing to give you a loan now. Of course, you do have a few options.
Perhaps the fastest and cheapest method of obtaining a loan is through a family member or a close friend. If you only need a small amount of money to hold you over, one of these people may be able to help you out. Of course, you should be careful when you do this. Loaning money from people you know can destroy a relationship if you do not pay it back in a timely manner.
If you would rather not risk the destruction of a relationship, consider going to a pawnshop and trading some of your valuable items. If you pay the money back in time you can get your personal items back but if not, all you lose is a possession and there is no risk of ruining a relationship or accruing insane interest charges. If you do not have a local pawnshop, consider selling some of your items in a classifieds ad or a yard sale.
If you are extremely desperate for cash, you can obtain instant loans via payday advance quite easily. Many businesses both physical and internet-based can offer you a loan based on your income on the very same day that you apply. The application is usually fast and easy. There are no credit checks and many times the decision may be available within an hour. The drawbacks of these payday loans are that they come with high interest rates and fees. They are wonderful if you pay them back immediately with your next paycheck but if you let them roll over you risk the chance of getting lots of fees tacked on to your loan balance. Not using these loans wisely can actually put you in a worse financial situation than you started with.
If you have decent credit you may be eligible for a credit card. The interest rate on credit cards is far less than those of instant payday loans. Plus, if you have one in your wallet waiting for an emergency, you will always have the ability to use it and will avoid having to scramble around looking for a loan in emergent situations.
If none of these quick cash loan options work for you, you might need to get a little creative. Consider working with the companies that you owe money to. Many utility and phone companies are willing to work out a payment plan if you find yourself in hardship. In order to avoid future problems for needing emergency funding, anytime you have an extra amount of money, put it away in a savings account so you have it to use.