We reviewed over 130 payday loan and installment loan providers before coming up with this list of lenders that offer $100 loans. With these lenders, you can apply online or at a store and get $100 soon as the same day.
7 lenders that offer $100 loans
These lenders offer payday loans and cash advances as low as $100 — although they may not be available in all states.
Payday loans, credit card cash advances and pay advance apps all offer loans starting at $100. Here are a few options you can consider when you need to borrow:
Pay advance apps. Hourly workers can use apps like Earnin, usually for an optional tip or monthly membership fee — but these small-dollar loans amounts are based on the wages you’ve already earned.
Payday lenders. Many payday loans start at $100, usually with a financing fee of $10 to $15. Most have a short term and are due within 14 to 30 days, which gives you an APR of around 122% to 391%.
Your bank. Some banks have started to offer small-dollar payday loan alternatives to current customers during the coronavirus outbreak at a much lower interest rates than a payday lender would charge.
Pawn loans. If you have an asset worth between $166 and $400, you can likely pawn it for $100, which you’ll repay plus a fee of $5 to $25 per month you take to pay it back.
Credit card advances. If you have a credit card, you can likely withdraw $100 from an ATM — if you can’t charge the expense to the card itself. You usually pay an advance fee of $10 and an ATM withdrawal fee of around $3, on top of a higher APR than credit card purchases.
Bank account overdrafts. When you have no other options, you can withdraw $100 from your bank account even if you don’t have the funds. But with overdraft fees hovering around $35, this can be an even more expensive option than a payday loan.
How to apply for a $100 loan
To apply for a $100 loan, you can typically fill out a quick online application. If you’re eligible, most lenders are able to fund small-dollar loans within one to two business days — and you might not even need a good credit score.
Apply online. You can get started on our table to find a lender that offers $100 payday loans in your state, and you may be able to get your funds as soon as the next day.
Visit a store. If you don’t want to wait for a bank account transfer, you can visit a store to potentially get your funds the same day you apply.
7 questions to ask before choosing a loan
There are some crucial factors to consider before taking out a loan.
Are $100 loans available? Not all payday loans are this small. Make sure this loan amount is available before you apply.
What is the turnaround time? Most online loans are available the next day, while in-person payday loans can be approved and funded within a few hours.
How long do I have to pay it back? State laws determine this, but these usually have a short term of two to four weeks.
What are the rates and fees? The best way to compare the cost of a loan is to look at its APR. The APR tells you how much it would cost over a year, and makes it easier to compare the cost of loans with different short terms.
Am I eligible? You typically need to be over 18, have a state-issued ID and proof of income to get approved. And pay advance apps might only be available to hourly workers.
Is the lender legit? If your state requires a license, look for the lender’s license on the its website. And if you’re applying online, make sure the application is encrypted before you enter your information.
What do customers say? Read reviews on sites like the Better Business Bureau and Trustpilot to find out what you can expect as a customer.
Factoring in your repayments.
It’s important that you have a fair idea of what your repayments will look like before you apply for your $100 loan. Once you know how much you have to repay, take into account your existing salary and expenses to make sure you can afford the loan.
Same-day funding available
Bank account might not be required
Applications available online and in person
May be eligible with bad credit
Few options with an APR below 100%
Not every lender is legit
Payday loans aren’t legal in all states
What to avoid with a $100 loan
When you look for a $100 loan, bear in mind that it can come with risks.
Learn more about $100 loans with answers to commonly asked questions.
Will my lender run a credit check?
It may. While you don’t need good credit to qualify, you may need to meet certain other credit requirements to be eligible — especially for a loan that can help to build your score.
Can I repay my loan early?
Most lenders don’t charge prepayment penalties, but you should review your loan contract or ask your lender to confirm its terms.
Is having a checking account necessary?
Most lenders require applicants to have operational checking or savings accounts where they can transfer funds electronically. Installment and payday loans you can apply for in person may not have this requirement.
Will a late payment on a loan affect my credit score?
While not all lenders report to the big three credit agencies that handle credit, some might choose to report late or missing payments. This is at the discretion of the lender.
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
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