Where to Get a $700 Loan Today
It may not seem like much, but when you’re short on funds, $700 could be enough to cover groceries, utilities, or other essential expenses. As such, it’s important to know who to turn to when you need a $700 loan.
Getting a $700 loan quickly
Because $700 is considered a small, short-term loan, you could apply and receive same-day funding with no impact to your credit score (depending on the lender). But you need to know where to look.
Top options for a $700 loan
Banks and credit unions typically don’t offer fast $700 loans. They have application and approval processes that take several days to weeks. So, rather than turning to traditional lenders, consider a direct lender like Advance America.
Personal loans from online lenders
Online lenders offer a fast and convenient way to secure a $700 loan quickly. You can complete the entire process online, including filling out your application, receiving your funds, and repaying the loan.
Before you apply for a personal loan through an online lender, however, be sure to do your research to ensure you’re dealing with a legitimate company. Unfortunately, online financial scams are prevalent, so go with a name you trust. Research your options, read reviews, and consider a lender with both online and in-store services.
Cash advance on a credit card
If you have a credit card, you may be able to apply for a cash advance that will be credited to it. Most major credit card companies, including Chase, Capital One, and others, offer credit card cash advances.
The amount of your cash advance depends on how much available credit you have and whether you’re in good standing with your credit card company. The downside of these loans is that they often have high interest rates and initiation fees.
Buy Now, Pay Later options
Maybe you need a $700 loan for a specific purchase, such as a new appliance or a piece of furniture. If so, the store where you’re making your purchase might offer a buy now, pay later option.
Buy Now, Pay Later (BNPL) is like a payment plan when you buy a vehicle or home. You’re essentially credited a chunk of money to buy what you need. You’ll then repay the store through monthly payments that are often interest-free. The downside is that BNPL applies to very specific items or stores and isn’t the same as a $700 cash loan.
Can you get a $700 loan with no credit check?
Banks and credit unions typically require credit checks when you apply for loans. Therefore, if you need a $700 loan with no credit check, your best bet is to go through a direct lender.
Direct lenders, including payday and online lenders, consider factors beyond your credit score. If you’re employed or have a steady source of income allowing you to repay your loan, you may qualify for a $700 loan.
Other ways to get a $700 loan in a hurry
If you don’t want to apply for a loan and would prefer to get $700 another way, here are a few options:
- Ask your employer for overtime. Although working for the money isn’t an immediate fix, it might be worth it. If you can wait a week or two for your funds, working extra hours is a great alternative to a $700 loan.
- Ask your employer for an advance on your paycheck. Depending on where you work, you might be able to get an advance on your pay.
- Asking a family member. While asking a family member for help can be tricky, it might be worth it, depending on your situation. Whether it’s your parent, sibling, or just a close friend, loved ones typically offer interest and guilt-free financial assistance when you need it most.
Tips to improve your financial situation
- Build your credit. By improving your credit score, you could qualify for loans with more favorable interest rates, repayment terms, and conditions.
- Pay off your debt. Once your financial situation has stabilized, paying off your debt is a great way to get back into good financial standing.
- Create a budget. There’s a good chance that part of the reason you’re in a financial bind is because you don’t have a budget. Creating a budget will help you manage your spending and maximize your savings.
- Invest when you can. As with paying off debt, you likely can’t afford to invest right now. However, once you have your finances back on track, investing your money in a high-yield savings account or 401(k) can help you get ahead.
- Save where you can. No matter where you are financially, pinching pennies can increase your savings. You can do this by dining out less, cutting back on online purchases, or buying secondhand items.
FAQ about borrowing $700
Is it safe to get a $700 loan online?
As long as you do your research and choose a reliable lender with good reviews, it’s safe to borrow $700 online.
Does getting a $700 loan affect my credit?
Getting a $700 loan won’t affect your credit. However, if you fail to repay your $700 loan in time, your credit score may take a hit.
What can a $700 cash loan be used for?
The beauty of getting a $700 loan in cash is that you can use it for whatever you need. Whether you’re short on rent, can’t pay for groceries, or can’t cover your utility bills, you can use your $700 loan for whatever you need.
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Get a $700 loan from Advance America
If you want a $700 loan quickly from a reliable lender, consider applying for one from Advance America. Our Installment Loans and Payday Loans are ideal when you need money fast. We offer our loans online or in-store, and don’t require a high credit score for approval.
Notice: Information provided in this article is for informational purposes only. Consult your attorney or financial advisor about your financial circumstances.
About the author
Jalin Coblentz has contributed to Advance America since 2023. His experiences as a parent, full-time traveler, and skilled tradesman give him fresh insight into every personal finance topic he explores.