Most lenders don’t offer loans as low as $50 — even some payday loan providers. But you have several options to borrow that amount fast, including pay advance apps and pawnshop loans. Just beware of high fees.
5 lenders that offer $50 loans
| Lender | Type of lender | Minimum loan amount | Turnaround | |
|---|---|---|---|---|
| Brigit | Pay advance app | None | Same business day to 2 business days | |
| Check Into Cash | Payday lender | Varies by state | 1 to 2 business days | |
| SpeedyCash | Payday lender | $50 | 1 day | Read review |
| Allied Cash Advance | Payday lender | $50 | Same day in stores, 1 business day online | Read review |
| Earnin | Pay advance app | None | Same day to 2 business days | Read review |
Where to get a $50 loan
From credit card cash advances to pay advance apps, you have a few different avenues to turn to when looking to borrow $50 fast:
- Pay advance apps. Hourly workers who have already earned $50 this paycheck can get an advance — potentially without paying any fees — by using apps like Earnin or Dave.
- Pawn loans. Got something worth around $85 to $200? You might be able to get a $50 loan by bringing it to a pawnshop, usually for a fee of around $2.50 to $12.50 per month you take to pay it back.
- Payday loans. Some payday lenders offer loans as low as $50, though not all lenders do — and not in all states. These typically cost the same as a $100 payday loan — around $10 to $15 — and are usually due in 14 to 30 days.
- Credit card cash advance. If you’ve got a credit card, you can withdraw the funds from an ATM without applying for a loan. On $50, these typically come with a $10 advance fee plus an APR of around 19% to 24%.
- Bank account overdraft. As an absolute last resort, you might be able to overdraft from your bank account to get $50 today. But most overdrafts cost $35, making it the most expensive option.
Compare pay advance apps
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How to get a $50 loan
It depends on the type of loan you decide to get — if you even get a loan. But typically, you need to follow these steps to find and apply for $50 today:
- Compare different types of loans. Find out what type of loan or advance would offer the best deal by weighing factors like eligibility requirements, speed and fees.
- Research providers. Once you’ve narrowed what type of loan you’re interested in, compare lenders. Look at factors like the specific requirements, costs and how repayments work. Also, consider customer reviews to make sure you’re working with a legit provider.
- Apply. Depending on the type of loan or advance, you might be able to fill out an online application or apply through an app. Some payday lenders and pawn shops might require you to apply in person.
- Receive your funds. Your lender will either transfer your money to your bank account or give you the funds in cash, on a prepaid debit card or as a check or money order.
5 questions to ask yourself before choosing a loan
From how much it costs to if you’re even eligible, asking yourself a few key questions can help you find the best option for your situation:
- Which lenders offer $50 loans? Loans of this size can be hard to find. Make sure the lender offers $50 in your state before you consider them.
- How long will it take to get the funds? Rule out any option that will get you your $50 later than the next business day. If you need to, call in and explain your situation.
- Am I eligible? Check the lender’s basic requirements and make sure you meet them. Most lenders don’t run a credit check for loans of this amount, but might require you to have a full-time or hourly job.
- How much will it cost? Consider the total cost of your loan, including any fees and interest. Some pay advance apps and other providers might charge extra if you want to speed up the process. Add this to the total cost.
- How long do I have to repay? Make sure you’ll be able to afford the full repayment when it’s due before you take out a loan or advance.
Pros
- Available to all credit types
- Wide range of options — including two that don’t require an application
- Bank account might not be required
Cons
- $50 payday loans might not be available in your state
- Might cost the same as a $100 payday loan
- Overdrafts cost around 70% of the amount you withdraw
Find out if you can include a payday loan in your state
Bottom line
You have several options if you want to borrow $50 today, from pawnshop loans to pay advance apps. However, you might not have so much luck with payday lenders, since many don’t offer loans this low in all states.
You can learn more about your short-term loan options by reading our guide to payday loans.
Frequently asked questions
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