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A $500 loan can help you make ends meet during an emergency, but the high costs and extremely short repayment period can make borrowing without getting into a cycle of debt difficult.
Select your state to find and compare a selection of lenders that offer $500 loans in your area.
While a $500 loan may provide temporary relief if you’re between jobs, it can quickly escalate into a cycle of debt. Before you borrow, here are four alternatives you may want to consider:
You can also explore more payday loan alternatives to avoid overspending when you’re out of work.
Eligibility criteria differs between lenders, but you’ll usually need to meet the following requirements:
Usually, you can get a $500 loan even if you have bad credit.
Here’s what you need to apply for a $500 loan:
The most common type of $500 loan is a traditional payday loan. This means you pay it all back plus a fee the next time you get paid — within two to four weeks.
Can’t pay it back then? Some lenders offer the option to roll it over for a fee. Try to avoid this if possible — that’s how you can get caught up in a cycle of debt.
Keep in mind that payday loans aren’t legal in all states.
Depending on your lender and your state, you can expect to pay around $75 to $150 for a $500 loan. This works out to an APR range of around 182% to 365% on a 30-day loan or 365% to 730% on a 15-day loan.
Keep these questions in mind to find the best deal available to you:
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While you can get started on your loan application today — you’ll still need to wait for funding.
Here’s how to get one.
I was approved for a loan and a phoenix program for a loan up to 500 how do I apply?
Hi Tammy,
Thank you for leaving a questions.
Eligibility criteria differs between lenders, but you’ll usually need to:
Have a regular source of income
Be a US resident
Be over the age of 18
If you have already chosen a lender from our website, you may click on the Go To Site button or apply now. You can compare lenders by checking on the APR, fees, lender reviews, and if it serves the state you are in.
Please check all T&C prior to applying.
Hope this helps.
Regards,
Val