How to Get a Quick Loan

Sometimes, you need money now and can't wait for a long loan process. You need a quick loan to cover an emergency expense as soon as possible. So what exactly is a quick loan? A quick loan takes less than a week from application until payout, in fact some quick loans happen in one-day. It’s a great alternative to a bank loan or home equity loan, which can take weeks or even months after your application to receive a decision and funding. If you’re wondering how to get money right away with a quick loan, read on.

1

Know the Types of Quick Loans

There are a variety of quick loans available, so let’s review some of your options.

Payday Loans

Also known as cash advance loans, payday loans are short-term, small-dollar loans that you’ll pay back when you get your next paycheck, usually within two to four weeks.

Loan amount range: Depends on your state

High credit score required? No

Collateral required? No

Average time to complete application: about 5 – 10 minutes

Decision time range: Minutes

Funding time from submitted application: range from immediately to next banking day.

Title Loans

If you own your vehicle, title loans can give you fast cash in exchange for your car’s title. Your car’s value and your ability will primarily determine how much money you can get. You keep your car while you pay back your loan.

Loan amount range: Depends on your state as well as the condition and value of your car.

High credit score required? No

Collateral required? Yes

Average time to complete application: 15 to 30 minutes (requires on-site appraisal)

Decision time range: Minutes

Funding time from submitted application: Immediately following appraisal.

Pawn Shop Loans

Pawn shop loans allow you to bring valuables like jewelry or power tools into a pawn shop to hold as collateral until you repay them.

Loan amount range: Depends on the value of your item.

High credit score required? No

Collateral required? Yes

Average time to complete application: Minutes

Decision time range: 10 to 15 minutes

Funding time from submitted application: Immediately

Small-Dollar Installment Loans

Installment loans make it easy for you to borrow a set amount of money and repay it over 3 to 36 months through monthly payments.

Loan amount range: Depends on your state, but typically more than payday loans allow.

High credit score required? No

Collateral required? No

Average time to complete application: less than 10 Minutes

Decision time range: Minutes

Funding time from submitted application: Within a day.

Lines of Credit

Lines of credit are flexible because they can give you the chance to borrow as much or as little as you’d like up to a certain credit limit. You can repay them all at once or in scheduled payments. The amount of interest you pay depends on the amount you withdraw, not your full credit limit.

Loan amount range: Depends on your state

High credit score required? No

Collateral required? No

Average time to complete application: Minutes

Decision time range: Minutes

Funding time from submitted application: Within a day

2

Select the Loan Type That Meets Your Eligibility Requirements

If you want to get a quick loan right now, choose a loan type that’s ideal for your unique situation. Consider your credit score, income, how much you need, and whether or not you have something of value like a car or diamond ring to put up as collateral. Once you do, you’ll be able to narrow down your options and make a smart decision.

3

Know What You Need to Apply for a Loan

After you decide on a loan type, figure out what you’ll need to apply for it. To get a quick loan fast, jot down your account number and routing number so you can sign up for direct deposit. If you’d like to pursue a car title loan, find your vehicle title. For payday loans, be sure to have a recent paystub ready for your application.

No matter which quick loan you choose, grab your driver’s license or other government issued ID, recent proof of income, and your Social Security number. Having this information on hand can speed up the application process.

4

Apply for Your Loan

To get a quick loan now without any wait, apply in-store rather than online. Also, if you’ve used a certain lender in the past, typically the application process is faster because your information is saved. Even if you don’t apply in-store or have never taken out a quick loan before, you can still apply online and get fast cash.

Some states allow online applications for emergency loans like payday loans, installment loans, and lines of credit to provide instant funding after you have been approved, getting cash in your hands immediately.

5

Review Loan Details

Before you sign on the dotted line and move forward with a quick loan, make sure you understand all the details. Take a look at the interest rates as well as any associated fees or penalties for late or missed payments. In addition, look at your budget and confirm that you’re able to comfortably repay the loan.

Quick Loans From Advance America

If you’re ready to get a quick loan now, Advance America can help. We offer several quick loan options including:

Payday Loans

You can apply for an online payday loan with Advance America quickly. If approved, you’ll receive money within 24 hours of your application. When you apply before 10:30 AM EST, you may be able to earn a same-day payout when you are approved. You can also apply in store and, if approved, receive cash right away.

Title Loans

Advance America offers quick title loans in store to help you get money fast and back on the road. Your car’s value will be appraised and the loan paid out when you visit an Advance America location with your car. To find the Advance America location nearest to you, use our convenient location map.

Installment Loans

Installment loans at Advance America offer a simple application process, with larger loan amounts that you can spread out over a longer repayment term than a payday loan. You are free to complete your installment loan application in-store or online from the comfort of your own home, depending on your state.

Lines of Credit

After you apply online for the line of credit, we’ll determine your maximum credit line, which will depend on many factors including your income.

With a quick loan, you can get the cash you need to pay for a car repair, surgery, or other unexpected expense right away. Fortunately, there are plenty of options at your disposal that can help you get through a financial roadblock.

The Advance America advantage

Since 1997, Advance America has helped millions of hardworking people with a variety of financial solutions including Payday Loans, Online Loans, Installment Loans, Title Loans and Personal Lines of Credit.

134+ million
loans issued
1,200+ stores
and online loans
23+ years
providing loans