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Emergency short term loans
Do you have an emergency and need cash in a hurry? A short term loan is an option available to you.
Medical bills, car repairs and cash shortfalls are all common pains. Financial emergencies can happen to anyone, and if you find yourself in a situation where you need cash to see you through, there are loan options that you can consider. Same-day short term loans are available in nearly every state, and better yet you can apply online. Read the guide below and find out what’s involved with emergency short term loans, also called payday loans, and if one is the right option for you.
Our top pick: Fast5kLoans Short-term Loans Connection Service
Min. Loan Amount: $100
Max. Loan Amount: $35,000
Turnaround Time:
As soon as the next business day
Loan Term:
6 months to 6 years
Requirements: Regular source of income, verifiable bank account, US citizen, ages 18+
Wide range of loan amounts
Variety of loan terms
Quick process
Our top pick: Fast5kLoans Short-term Loans Connection Service
Get connected with multiple lenders you might qualify with — even if you have bad credit.
Min. Loan Amount: $100
Max. Loan Amount: $35,000
Turnaround Time:
As soon as the next business day
Loan Term:
6 months to 6 years
Requirements: Regular source of income, verifiable bank account, US citizen, ages 18+
I have an emergency. How can I get a short term loan?
Depending on what you need, you can apply for a short term loan online or in-store. If you apply online, there’s often no need to fax any documents and you can receive your loan amount within a few hours straight into your bank account. If you plan to apply in-store, be sure to choose a lender that has a store network that’s convenient to where you live.
With a short term lender that offers online loans, you have to provide details of a bank account that you’ve authorized to accept direct deposits. When you’re approved, the lender will transfer the funds directly into your bank account.
We update our data regularly, but information can change between updates. Confirm details with the provider you're interested in before making a decision.
Short term loans can give you quick access to the money you need in an emergency situation, but it’s still sensible to compare your options before you apply. Here are some features to look for:
Turnaround time. If you need money to deal with an emergency, the quicker you receive your approved funds the better. Some lenders can offer same-day funding, even on weekends, while others might require that you wait two to three business days.
Maximum loan amount. State regulations govern the maximum amount you can borrow through a payday loan, but this does not mean that all payday lenders will offer you loans of that amount. Some payday lenders require that you work up a tiered system before you qualify for the maximum amount.
Fees. State regulations also govern how much a lender can charge as an Annual Percentage Rate (APR), and this translates into how much you end up paying in fees. Interest rates vary between lenders operating in the same state, as can fees and charges.
Store network of loan provider. Even if you apply online you may have the option of picking up your approved funds in-store. This is where the store network makes a difference because not all short term lenders have a physical presence. The number of outlets is also likely to vary.
Quick access to funds. Short term loan providers don’t follow the same loan approval process as mainstream banks, and this lets them process loan applications faster. If you apply in-store you can get access to approved funds within an hour, and if you apply online you can access approved funds on the same day or by the next business day.
Use money for any purpose. Lenders don’t place restrictions on how you use your approved funds, as long as you use the money for legitimate purposes.
Multiple choices. You have a large amount of lenders to choose from when it comes to emergency loans. If you don’t want to carry out a search and comparison on your own, you can consider a loan matching service.
No need for collateral. Short term loans are unsecured, so you don’t have to worry about providing any kind of collateral.
High interest. Short term loans charge high interest when compared to other types of credit, so this needs to be taken into account before you apply.
Make sure you won’t have problems repaying the loan even before you apply, and if you think you may face trouble, seriously reconsider taking the loan in the first place. Making late repayments can see you paying additional fees and it can also adversely affect your credit rating.
Take some time to go through the loan’s terms and conditions carefully, as this should give you a clear indication of what you may have to pay in fees and charges.
There is no telling when you might need money urgently, but if you’re considering applying for a short term loan, make sure you compare your options well.
Have more questions about emergency loans?
Yes, you can consider getting a short term loan even if your credit score is low. Demonstrating an ability to repay is more important to most short term lenders.
You must meet your state’s minimum age requirement, be a US citizen or a permanent resident and have a steady source of income.
This depends on your lender and how you get the loan. If you apply for the loan in-store, the lender might require you to provide a post-dated check. If you apply online, the lender will require you to provide your bank account details so it can deduct repayments and also transfer the loan to you. Some lenders allow you to repay your loan ahead of time using debit cards, credit cards, cashier’s checks and money orders.
Elizabeth Barry is Finder's global fintech editor. She has written about finance for over six years and has been featured in a range of publications and media including Seven News, the ABC, Mamamia, Dynamic Business and Financy. Elizabeth has a Bachelor of Communications and a Master of Creative Writing from the University of Technology Sydney. In 2017, she received the Highly Commended award for Best New Journalist at the IT Journalism Awards. Elizabeth's passion is writing about innovations in financial services (which has surprised her more than anyone else).
Thanks for getting in touch! You can find emergency short term loans on the information above. To find and compare your options, simply go to the box that says “enter your state.” Go and enter your state and it will show a list of lenders available. Take note that short term loans charge high interest when compared to other types of credit, so this needs to be taken into account before you apply.
When you have chosen the right lender for you, you will see a MORE INFO button if you want to read more about the provider via Finder review pages. You will find the providers benefits and features and how to apply to their company. Click the GO TO SITE button if you’d like to be brought to the official website of the provider. ​Know that this is where you get a quote or start your application. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
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I need an urgent loan today.
Hi Nelson,
Thanks for getting in touch! You can find emergency short term loans on the information above. To find and compare your options, simply go to the box that says “enter your state.” Go and enter your state and it will show a list of lenders available. Take note that short term loans charge high interest when compared to other types of credit, so this needs to be taken into account before you apply.
When you have chosen the right lender for you, you will see a MORE INFO button if you want to read more about the provider via Finder review pages. You will find the providers benefits and features and how to apply to their company. Click the GO TO SITE button if you’d like to be brought to the official website of the provider. ​Know that this is where you get a quote or start your application. You can also click the compare box beside each loan option and compare up to 4 options side by side for easier comparison.
As a friendly reminder, carefully review the eligibility criteria of the loan before applying to increase your chances of approval. Read up on the terms and conditions and product disclosure statement and contact the bank should you need any clarifications about the policy.
Hope this helps!
Best,
Nikki