Small Loans with No Credit Check
If you need to borrow a small amount of money, small loans might be a good option. With these products, you can get approved and receive funds quickly so that you won’t have to wait weeks or months. But if you don’t have great credit, you may be wondering whether you can get small loans with no credit check. Let’s take a closer look at how small loans work, whether you can get one with no credit check, and some types of small loans at your disposal.
How do small loans with or without credit checks work?
Small loans allow you to borrow anywhere from a couple hundred to a thousand dollars. Once you apply and get approved, you can expect to receive funding the same day you apply, within 24 hours, or in a few business days, depending on the lender. Then, you’ll pay back what you borrow according to your set repayment schedule.
Can I get a small loan with no credit check?
It might be difficult to find small loans with no credit check. But there are many lenders that have flexible credit score requirements. These lenders may look beyond your credit and consider other factors like your employment status and income when they review your application.
Can I get instant approval for small loans with or with no credit checks?
Fortunately, some lenders offer instant or quick approvals for small loans. This means you might be able to receive your funds as quickly as the same day you apply. If you need to cover an emergency expense right away, small loans can make your life easier.
Types of small loans with or without credit checks
There are several types of small loans with or without credit checks you might want to consider, including:
Payday loans are short-term, small-dollar loans you can repay when you get paid next, usually within two to four weeks. These loans can be useful if you need fast cash to cover expenses until you get paid.
With installment loans, you’ll get a lump sum of money upfront and repay it over time (anywhere from a few months to several years) via fixed monthly payments, or installments. If you need a large sum of cash, an installment loan may be a solid choice.
Car title loans are secured loans that use your car as collateral. Once you’re approved, you’ll give the lender your title in exchange for a lump sum of cash, based on the value of your vehicle. You’ll be able to drive your car as you pay back your loan. If you own your car and are willing to use your title as collateral, a title loan might make sense.
Lines of credit
While lines of credit are similar to credit cards, they typically offer lower interest rates. You can withdraw money whenever you’d like up to a set credit limit, and you’ll only pay interest on the amount you borrow. Lines of credit should be on your radar if you’d like a flexible loan.
What you’ll need to apply for a small loan with or without a credit check
To apply for a small loan with or without a credit check, keep the following information and documents on hand:
- A government-issued ID like a driver’s license or passport
- Proof of income in the form of pay stubs, tax forms, and bank statements
- Social Security Number
- Valid and active checking account
How to get a small loan with or without a credit check
Follow these steps to apply for a small loan with or without a credit check:
1. Compare small loan lenders
There is no shortage of lenders who offer small loans. Shop around and research the options available to you. Once you find a few small loans that pique your interest, compare their interest rates, terms, and fees.
2. Choose a small loan
After you decide on the right small loan for you, gather the documents you’ll need to apply. These will likely include a government-issued ID like a driver’s license or passport and pay stubs or other proof of income.
3. Fill out and submit your application
Fill out an online or in-person application for a small loan with or without a credit check. Be sure to double check all information to ensure accuracy and avoid delays with approval and funding.
4. Wait for approval
In many cases, small loan lenders offer quick approval decisions and may approve you instantly or within a few hours.
5. Receive your funds
If approved for a small loan with or without a credit check, the lender will disburse your money via direct deposit, check, or prepaid card. You should be able to receive funds quickly so you can cover your expenses right away.
Get a small loan from Advance America
Advance America offers a variety of small loans for borrowers with all types of credit scores. These include payday loans, installment loans, title loans, and lines of credit. You may apply online and get your money quickly, sometimes within 24 hours. Visit Advance America today to learn more about the loans we offer.