A $500 loan is a short-term loan that should be requested only for emergency expenses. Typically called payday loans or cash advance loans, most of these loans are paid back within 1-2 months. There are many reasons you may need a 500 dollar loan, but some of the most common include auto repairs, medical bills, utility bills, groceries, and any other immediate or unexpected need when you are short of cash.
Borrowers should consider the lowest cost options first before requesting a 500 dollar loan. If you have an open balance on your credit card, this would be a lower-cost option with more time to pay it back. If not, consider asking family or friends for a personal loan to assist in the short term. If you have strong credit, you can likely get a larger installment loan that can be repaid over the next year or longer, depending on the amount. However, if any of the mentioned options didn’t work for you, consider requesting a $500 payday loan to cover your emergency expenses.
Many people seeking a $500 loan have already tried all the options mentioned above and cannot use any of them. If that is the case, then a 500 dollar payday loan may be the only option to consider and the best one available as well. As long as you are comfortable with your loan terms and conditions and feel confident you can pay it back when it is due, then a 500 dollar loan can be a real life-saver and not a financial burden.
Every state has different requirements for requesting a $500 payday loan. Here is a list of the most common requirements:
There may be other requirements based upon the state you live in, but your lender will go over any additional information needed if you are initially approved.
You start by providing all the necessary information on our short and secure loan application form and submitting it online. This can be done from a PC, tablet, or smartphone. You will get a decision in just seconds. All approved loan amounts are determined by state laws where you reside. Most states allow a maximum of $500 loans, but some do allow up to $1,000. There are some states that do not allow payday loans at all. No matter where you live, you can find all of the information about your state on its website.
The time it takes for most borrowers to complete the 500 dollar loan request form is about 1-3 minutes. You can get an "instant decision" (in 5-90 seconds). For most approved loan requests, the cash is deposited into your bank account in 1 business day. This excludes holidays and weekends when banks are closed. Same day payday loans are rare, but some lenders can do them, ask your lender if they can assist you in this way. Your loan request must be made early in the day on weekdays in order for a lender to be able even to consider the possibility of getting funds to you the same day.
Here is what you should know. Your credit scores from the big three bureaus are not a factor in approval or denial of your $500 loan request. Lenders for these loans do not do hard credit checks. Instead, they analyze your income amount for each month, and the reliability of the income will be sustained in the near future when your loan will be due. Earnings are the number one factor in the approval of your loan request.
You are in the right place! CashOne has more than 120 direct payday lenders who do not perform standard credit checks and are ready and able to offer you a $500 loan with bad credit.
When you complete your $500 loan request form and submit it, you will get an answer in just seconds (from as little as 5 seconds but up to 90 seconds). If approved, you will generally get your loan funds deposited into your bank account in one business day. However, if you applied early in the day, you may receive your loan the same day. Ask your lender if you are approved what they can do for you.
A $500 payday loan is not a traditional loan with annual interest rates (APRs). You often see them with these rates noted as regulations require this to be done. However, payday loans are fee-based. The fees vary from state to state based upon local laws. The average range of costs for payday loans in most states is from $15-30 per $100 of the loan. For example, a $500 loan will usually have fees from $75 to $150. Be sure to ask your lender before you agree to accept a loan.
Note: We do not charge any upfront fee or have any other hidden charges for our payday loan services. Our loan application is available 24/7 at no cost to you.