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Emergency Same-Day Payday Loans

Financial emergencies occur unannounced. Any time you are faced with an unexpected medical bill, car repairs, etc., you may not necessarily have the cash to pay them off. Emergency same-day payday loans can help you in such situations by ensuring instant access to the funds required.

What are Emergency Loans?

Emergency loans are secured or unsecured personal loans that help you pay for unforeseen expenses such as medical bills or car repairs. These include title loans, installment loans, and payday loans. Possible sources of emergency same-day loans can be your friends or family members, online lenders, credit unions, or certain banks. Learn more about the types of emergency loans to understand which option can be the best for you to cover unexpected expenses.

How Many Types of Emergency Same-Day Loans are Available for You?

Following are the four types of emergency same-day loans:

  • Personal Loans

    Offered by banks, credit unions, and online lenders. The loan amount is received in a lump sum and needs to be repaid in monthly installments. It is ideal for borrowers looking for low rates of interest and high borrowing limits.

  • Credit Card Cash Advances

    Offered by credit card companies. You can withdraw the required amount of cash from an ATM or bank branch via your credit card. It works for credit cardholders with active credit cards, especially if their credit score isn’t good enough to qualify for a new line of credit.

  • Payday Loans

    Offered by online payday lenders. It is an instant loan with an extremely short repayment period (often within your next payday or two weeks). This option is ideal for those seeking a small amount of loan with the ability to pay them off within a very short period.

  • Title Loans

    Available from alternative lenders in stores and online. These loans use your vehicle title as collateral. Failure to repay within a specified period will entitle the lender to repossess your vehicle and settle the debt.

Other alternative sources of emergency cash include:

  • Selling some unused items
  • Borrowing from family or close friends
  • A home equity loan if you own one
  • Open credit card balance to draw upon
  • Any other possible way to generate quick cash.

Which Kind of Emergency Same-Day Loan is Best for You?

Though there are several alternatives to payday loans, it is possible that you may have already exhausted the other options or are simply ineligible for traditional or installment loans. This is because traditional/installment loans require a fair credit score. Most traditional lenders will not consider you eligible for a loan if you have a poor credit score. However, this is not the case with payday lenders.

Emergency payday loans can be the best options for you that are very fast to get but almost take one business day to fund. One thing that should be clear is that emergency same-day loans are more a myth than reality. So, same-day payday loans are extremely rare. These type of loans are extended despite the borrower's credit scores as payday lenders consider your current income to determine your ability to repay the loan.

Benefits of Emergency Payday Loans

The following are the key benefits that accompany an emergency payday loan:

  • Easy, Safe Loan Request Form

    Applying for your emergency payday loan is an easy and safe process. It only takes a few minutes to complete the short form and submit it for review.

  • Quick Approval Process

    Once you apply for your emergency same-day payday loan, you will get a decision in seconds. Direct lenders have an electronic review process, so forget about the traditional lenders with weeks or more to process your request… and potentially reject you anyway.

  • Maximum Convenience

    Our direct lenders operate online and allow you to request your payday loan online from anywhere, right on your smartphone. Payday loans online same day request eliminates the hassle of driving around wasting gas and time to find a lender to work with. In fact, why not have your loan request in front of 120+ lenders all at once? That is what you get when you work with us.

When Should You Request an Emergency Same-Day Payday Loan?

  • Unexpected Medical Bills

    In our new world of COVID, there have been more unexpected doctor visits than we have seen in generations. And some require cash payments or are not covered by standard insurance - if you have it! A small dollar loan can help cover these types of unforeseen expenses.

  • Home Repairs

    Whether it is an appliance that quits on you, a leak in your roof, a broken water heater, or some other problem, you know that it will happen sooner or later, and you may not have the cash on hand to deal with it.

  • Vehicle Repairs

    No matter the vehicle you drive, they break down. Not as frequently as they once did, but they still break down. You cannot lose days of work, so you have to get back on the road, and an emergency payday loan may be your solution.

  • Rent or House Payments

    More people than ever have fallen behind on rent or home payments, and no one wants to be in that situation. First, contact your landlord or lender as you may be able to negotiate an extension or relief. But if you need cash right away, then an emergency same-day payday loan may help.

What Do You Need to Request an Emergency Payday Loan?

Before you request an emergency payday loan, you should know some basic criteria you will need to meet no matter where you live. Here are the 5 common criteria to meet:

  • be at least 18 years of age or older
  • have valid ID or proof of residency
  • have an open checking account for your lender to deposit your loan to
  • have a working phone (cell is great), and email for communications
  • have a current income of at least $1,000 a month from all sources.

Requirements do vary slightly from state to state, so ask your lender if you have any questions. Otherwise, just complete the loan request form accurately and completely and hit the 'submit' button.

What is the Process to Get Emergency Cash Immediately Using Payday Loans Online Same Day?

First, remember that payday loans online on the same day only refers to the review of your loan request on the same day you submit it. Even if approved, your lender will not deposit your loan into your account for one (1) business day. The process as described above is simple.

  • Hit the 'Get Started Now' button,
  • Complete the short, secure request form,
  • Click on the ‘Submit’ button and,
  • Get an instant decision on your request (90 seconds or less).

If approved, plan on spending 10-15 minutes talking with your lender to go over terms and conditions and get your questions answered.


Emergency Payday Loan FAQs

How can I get a cash loan immediately?

Immediately will mean in one business day, and this delivery time is very standard for emergency payday loans. Direct payday lenders are set up to process fast and rarely take more than 1 business day. Keep in mind that one business day excludes weekends and holidays because banks are closed on these days.

Can I get an emergency payday loan the same day I apply?

Generally, you cannot get an emergency payday loan the same day you apply. Most lenders will not do this because they need some time to process your loan and then set up the transfer of the loan funds. This is one business day in almost all cases. However, a few lenders will do same-day loans (on weekdays only) if you request the loan very early in the day (often before 10 am EST). Check with your lender to see if they offer this service. Note that some states do not allow this service.

How much can I borrow with an emergency same-day payday loan?

Most states allow a maximum loan amount of $500, but there are some states that allow up to $1,000 payday loans. Beyond $1000, you would need to request an installment loan. Many lenders do both installment and payday loans, so there is no need to complete 2 requests, just pick the amount you need for your loan, and you will be directed to lenders who do these loans.

How do I repay my same-day payday loan?

Your loan is due on your next payday in most cases but be sure you know your payment date before agreeing to your loan offer, and you are confident you can meet your obligation. In most cases, your payment is automatically deducted from your bank account on the due date.

Can I extend or rollover an emergency payday loan?

In most states, it is against state law to rollover or extend your loan. There are exceptions, and you can check your state laws for payday loans on your state's website. All lending, including emergency payday loans, is highly regulated at both the state and federal levels to protect consumers.

If I apply for emergency cash loans, does it affect my credit?

No, unlike traditional loans where your credit scores are checked and affect your scores, online payday lenders use alternate means of checking your data electronically in seconds. Your current income is the #1 factor in determining if you are eligible for approval.

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