The 5 Best Loans for Getting Cash Fast


If you are in a bad financial situation and you need money right away, it may be difficult to know where to turn.  Getting fast cash can seem insurmountable, especially if your credit is not really that good.  Fortunately, there may be solutions out there for you that can allow you the access to the money that you need.

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Your ability to get fast cash is going to depend, to some extent, on what types of credit you already have available to you.  However, there are options out there even for people who have no current credit at all and who either have a low credit score or who have no credit history. The key is to understand the different choices, research the pros and cons and consider the right solution for you.

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1.Credit card cash advance: If you have a credit card already, a cash advance is usually pretty quick to get. You can call your credit card company to find out what your available line-of-credit is for cash advances, as you usually have a lower limit for borrowing cash than you do for charging on the card. You can also expect to pay a higher interest rate for a credit card cash advance than you would pay if you just used your credit card as a normal charge card.  In some cases, you may need to request the cash advance over the phone or using your online account and wait for the money to get deposited into your bank account or for a check to be mailed. In other situations, you could take your credit card to an ATM machine and take money out. You should talk to your creditor to find out what choices you have available to you for getting quick cash.
2.Car title loan: A car title loan allows you to borrow money based on the equity that you have in your vehicle. This type of loan is a possible option for you as long as you own your car and don’t owe on it (you cannot get a car title loan if your vehicle is worth more than you owe on the car, according to the experts at  You will still be able to drive your car when you take the car title loan, the car just acts as collateral on the off chance that you do not pay as promised. A car title loan usually provides you with virtually instant access to money and your credit score is not important at all when you try to qualify for a car title loan.

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3.Payday loan: A payday loan also provides you with immediate access to money. Your credit typically does not matter with a payday loan either, as long you have a bank account and you have a job.  You can borrow money on a short-term basis with a payday loan, but your interest rate may be a little bit higher than with some other methods of borrowing. Some states have also imposed limits or restrictions on payday loans so be sure to find out if this is an option in your area or if there are online services that can allow you to borrow the money.
4.Home equity line of credit: If you already have applied for and been approved for a home equity line of credit, you should be able to get the money you need very quickly. A home equity line of credit essentially allows you to tap into the equity in your home or borrow against the value of the house.  This is a method of getting fast cash only if you already have the line of credit available and just need to draw from it. You also put your house at risk if you use this option and then it turns out that you cannot pay back the loan.
5.Pawn loan: A pawn loan is a short-term loan that you can get at a pawn shop. You will need collateral, which is usually small but valuable items like a piece of jewelry that you leave at the pawn shop to guarantee the loan.
These are a few options for borrowing money right away when you need it. 
Author Bio:
Lisa Hendricks is a financial advisor who specializes in working with young adults looking to accumulate wealth and achieve sustainable financial health. 

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