Any financial lender can potentially provide a $400 loan. However, traditional lenders tend to avoid small-dollar loans so they can make bigger profits. They cannot afford to do small-dollar loans with their overhead. And, you have to wait weeks to get an answer.
So, what to do? Consider a $400 loan from a payday lender. You can apply online in minutes, no long forms, no driving around, no long waits. After submitting your loan request, you get an answer in seconds. If approved, you receive your loan funds the next business day. There is no faster way to get a $400 loan.
When you need a bigger loan, say $1,000 or more, then you may consider requesting an installment loan that has lower costs and a longer payback term. But you will have to have higher credit scores to qualify.
400 dollar loans work easily for any person in need. You complete the short payday loan application form, usually in 2-5 minutes, right from your smartphone or other devices. You get an answer in seconds after submitting your request, usually less than 60 seconds.
If approved, your lender contacts you immediately to review the loan, its terms and conditions, answer your questions, and to make sure you agree to accept the loan. Your 400 dollar loan is then deposited directly into your checking account, normally the next business day. You cannot get a loan faster than this anywhere.
There are some basic requirements for requesting a $400 payday loan:
Keep in mind that there are some minor variations in requirements based upon the state you reside in.
Loan costs are determined by state law, so there are differences in costs based upon where you live. Generally speaking, a $400 payday loan costs are from $10-$30 for every $100 you borrow. Many states cap the fees at $20 or less but not all. A typical payday loan with a $15 per $100 fee has an annual percentage rate (APR) close to 400%.
APRs are not reflective of the cost of the loan as the loans are 30 days in length and should not be extended. 400 dollar payday loans have a one-time fee, APR does not apply really. Your lender will disclose any fees associated with your loan as they are required to do so by law. You are never obligated to accept a loan offer from any lender of any kind.
CashOne is the best place if you want to get a $400 loan right away. Getting a $400 loan in one business day is really fast. There are cases where you can fund your loan the day you request it, but most lenders cannot process that quickly. Plus, you must complete your loan request and submit it very early in the day, typically before 10 am EST.
Direct lenders for payday loans do not perform hard credit checks. They may do a soft credit check, but these do not affect your credit scores and are not reported to the credit bureaus.
Lenders want to know what you earn and if your recent earnings are going to continue in the near term. The reason why is that they have found that your income is the best indicator of your ability to repay your loan and not suffer additional fees.
Yes, you may be surprised to learn that over half of all people approved for a $400 payday loan have poor or bad credit. Lenders already know this, which is one reason they do not do hard credit checks.
Direct lenders verify general information and pay attention to your recent and upcoming income.
There are some other credit options like auto title loans. But you can lose your car if you are late in paying or default on the loan, which is a huge risk. And most states do not allow auto title loans.
Yes, as noted above, you can get a loan in minutes and have the money the next business day.
Be sure you can pay back your loan on the due date provided by your direct lender. You do not want to have additional fees added to your loan.
Simple. Complete our loan request form, hit the 'submit' button, and get an answer in seconds.