How to Get a $1,000 Loan Fast
Depending on your eligibility, you may be able to get a $1,000 loan online or in person with Advance America. Whether you’re planning a major purchase, catching up on bills, or managing an unexpected expense, an Installment Loan, Line of Credit, or similar option could give you the flexibility to move forward with confidence.
Where to get a $1,000 loan today
If your income and ability to repay allows you to qualify, there are a couple of routes you can take to get a same-day $1,000 loan.
Installment Loan
An Installment Loan provides you with a lump sum, which you repay in fixed, scheduled payments over time. Each payment includes both principal and interest, and the terms are set at the time of approval.
These personal loans can be used for multiple financial needs, such as consolidating debt or making large purchases. Because payments are predictable, Installment Loans can be easier to fit into your monthly budget.
Line of Credit
A Line of Credit differs from most personal loans in that you can continue to tap into available funds (up to your credit limit) as often as you’d like.
Say you’re approved for a $1,000 Line of Credit. You could use $200 today for groceries, $300 tomorrow for bills, and $50 next week for gas. It’s up to you — and you can reuse your available funds as you pay it down.
The great thing about a personal Line of Credit is that you only pay interest on the amount you take out, not the entire credit line.
Credit union or credit-builder loan
Credit union loans tend to come with lower interest rates compared to loans through direct lenders or traditional banks. You’ll typically need a good credit score and credit history, however, which can make qualifying tricky.
Credit-builder loans are designed to help you establish a credit history or rebuild your credit score. Instead of receiving the loan funds upfront, the lender will hold the money while you make fixed monthly payments. The lender reports your payment activity to the credit bureaus, and you’ll receive your funds in a one-time disbursement after you’ve repaid the loan in full.
Borrow from friends or family
If getting a $1,000 loan through a lender isn’t working out, consider asking a friend or family member. This loan option doesn’t come with interest rates or a traditional repayment plan. Just be sure to talk about repayment terms before you borrow the money to ensure you’re all on the same page.
Can you get a $1,000 loan with bad credit?
You could get a $1,000 loan with bad credit if you meet certain eligibility requirements, but you’ll need to choose a lender willing to work with bad-credit borrowers. At Advance America, we consider factors beyond your credit score in our approval process, so you might still qualify.
Other $1,000 loan options If you need $1,000 but aren’t sure which borrowing option is right for you, there are several alternatives you might consider.
Ask your employer for overtime or a payday advance
Sometimes your employer will allow you to get a payday advance if you need some money to hold you over until your paycheck. All you need to do is ask!
If getting a payday advance doesn’t look like it’s in the cards, your next option would be to look into overtime hours. Many employers will gladly offer overtime to their employees. It can’t hurt to ask for a few extra hours during the week (or maybe even on the weekend) to get those extra hours in.
Pick up a side gig
A side hustle or side gig is one of the easier ways of getting extra money without taking out a loan. There are plenty of in-person and online gig opportunities out there, and the gig economy is always growing.
Getting a regular part-time job usually comes with time constraints and schedule conflicts, making it difficult to juggle with your full-time job. But gigs like dog walking, food and grocery delivery, or ridesharing will allow you to make your own schedule. You can earn as much or as little as you want based on your availability, making it the perfect alternative to a $1,000 loan!
Sell products or a service
Do you have a knack for creating? Maybe you’re good at crocheting, drawing, or jewelry making. You can use that to your advantage and make products to sell!
Think about creating an online store on websites like Etsy to sell your products. Or maybe even attend craft fairs in your area to sell things to people in person.
If you aren’t into making physical products, you can also think about selling a service. Plenty of people look for graphic design help or writing services to make blogs and articles. Websites like Upwork or Fiverr are great places to list these types of services.
FAQs about borrowing $1,000
Does a $1,000 loan require a credit check?
Not all $1,000 loans require credit checks. In fact, many direct lenders (like Advance America) won't require a credit check. Instead, they may look at other factors like your income and employment. Read the loan terms before applying to see if your lender of choice requires a credit check.
Should I get a $1,000 loan online or in-store?
The choice of applying for a $1,000 loan online or in-store is up to you! Most people opt for online because it’s more convenient. However, you can visit a lender in person if you want help with the application process.
Is it safe to borrow a $1,000 loan?
It’s safe to borrow a $1,000 loan if you apply through a reputable lender. The best way to know if a lender is trustworthy is to look at reviews from actual customers.
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Notice: Information provided in this article is for informational purposes only. Consult your attorney or financial advisor about your financial circumstances.
About the author
Ashley Masiello is an experienced copywriter and editor who has crafted engaging content for numerous websites and continues to do so with Advance America. She likes to combine her creative personality with clarity to make concepts easy and fun to read.