Fast Cash Loans: How to Borrow Money Instantly

At some point, many of us find ourselves short on money. Big events or unexpected expenses can stretch bank accounts thin. When this happens, what can you do when you need funds? 

Fast cash loans can provide the money you need as soon as the same day you apply. Let’s explore this quick borrowing option and what you can expect when working with a lender like Advance America. 

What are fast cash loans? 

Instant or fast cash loans are short-term loans you can use when you're in a financial bind. They’re a type of quick funding that typically pays out the same day you’re approved — or, at most, by the following business day. Depending on the type of loan, you might receive anywhere from a couple hundred to a few thousand dollars. 

The process for getting a fast cash loan is simple. In-person or online applications take minutes to complete, and lender approval decisions are typically made within seconds of submitting the application. These features make quick cash loans ideal when you can’t wait days or weeks for funding. 

What can you use a fast cash loan for? 

A fast loan can give you extra money to cover anything from everyday essentials to emergency expenses. 

For example, you can use instant funds to cover a car repair, ER visit, or home appliance replacement. You can also use a quick cash loan to cover day-to-day expenses, like groceries or gas. 

Regardless of why you need the money now, a fast cash loan may be able to help. 

How much cash can you get from a fast loan? 

The amount you can borrow depends on the lender, the type of loan you choose, and whether you meet the eligibility requirements. Some lenders may only approve you for a $200 loan, while others might allow you to borrow a few thousand. 

Types of fast cash loans 

When you need to borrow any amount of money, it’s a good idea to explore the different types of options available. 

Payday Loans 

A Payday Loan is a small-dollar loan used to cover expenses between paydays. The amount you can borrow is based on your income because you’ll need to pay it back in full on your next payday. 

Installment Loans 

An Installment Loan is repaid in fixed payments (or installments). This type of loan can be a good option when you need to borrow a larger amount of money, or you prefer to make payments over a longer period. 

Lines of Credit 

A Line of Credit offers several advantages. It can be useful when you anticipate an upcoming expense but aren’t sure exactly how much money you’ll need to cover it. It’s also a form of revolving credit that stays open until you close the account (similar to a credit card). This means you can borrow and repay funds up to your borrowing limit repeatedly. 

Title loans 

If you’ve paid off your vehicle, you might consider a title loan. Title loans can be helpful if you need more money than you can borrow with a Payday Loan, but you may not qualify for an Installment Loan or Line of Credit. 

Title loan amounts are based on your car’s appraised value. The lender then uses your car’s title as collateral to secure the loan (you can keep driving your car while you make payments). Once the loan is repaid, the lender returns your title. 

Where to get a quick cash loan 

Fast cash loans are available through many lending institutions. The lending criteria, loan amounts, and funding times differ, however, so it’s important to know which type of lender best meets your needs. 

Bank or credit union 

Banks and credit unions are traditional lenders. While they tend to offer personal loans with competitive interest rates, they may only approve loans for existing customers with good credit. Their loan process may also not be as fast as direct lenders. In fact, it could take up to a week to receive loan funds from a bank or credit union. 

What’s more, not all financial institutions offer online applications, which means you have to apply in person. 

Online 

With an online direct lender, the entire loan process (application and approval decision) takes place online, and funding is completed via direct deposit. Depending on the lender, you could receive money the same day or by the next business day. 

In person 

If online lending feels too impersonal or intimidating, consider applying with a brick-and-mortar direct lender that specializes in fast cash or quick cash loans. You can speak face-to-face with a representative about your needs, and they can help you choose a loan that works best for your situation. 

Getting a quick loan from Advance America 

At Advance America, we offer a variety of fast loans, including Payday Loans, Installment Loans, and Lines of Credit, although availability varies by state. 

Our in-person and online applications take just minutes and are easy to fill out. Plus, we offer instant approval decisions, so you’ll know right away if you’re approved. You may even be able to receive your money the same day you apply! 

Requirements for a fast cash loan 

1. Valid government-issued ID, such as a driver's license, passport, or other official ID. 
2. You must be 18 or older in most states. Please note: Alabama requires borrowers to be at least 19 years old. 
3. Proof of a steady income, such as recent pay stubs, W-2 tax forms, or other income documents. 
4. Social Security number or ITIN to verify your identity and prevent potential fraud. 
5. Active checking account for direct-deposit funding and repayment. 

Benefits of fast cash loans 

• Easy application. Fast cash loans often have easy application processes that only take a few minutes. Many lenders have online applications, so you can apply whenever it’s convenient for you. 
• Quick funding. If you’re approved for a fast cash loan, the lender may give you money on the spot for in-person applications or electronically deposit the funds into your bank account. You could have access to online funds as soon as the same day you apply or by the next business day. 
• Good credit not needed. Many fast cash lenders have lenient credit score requirements and will consider factors other than your credit score, like your income and employment history when deciding whether to approve you. This means you could be approved for an instant cash loan even if you have poor or fair credit. 

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How to get your fast cash loan even quicker 

If you want to ensure you receive your loan even faster, here are some things you can do to speed up the process: 

Choose a previous lender 

When you work with a lender you’ve borrowed from before, you may be able to expedite the borrowing process. As long as you’re in good standing with the lender, you’ll be a favorable borrowing risk. The lender will likely have your information saved in their system, which can expedite your application and approval. 

Gather your documents 

Gather your ID, pay stubs, and other documents beforehand, so you’re ready to provide all the necessary information when you apply for your fast cash loan. 

Opt for direct deposit 

Direct deposit is much quicker than waiting for a check to be mailed and then deposited into your bank account. Be sure that your bank’s routing number and account number are included in your application documents. 

Fast cash loan FAQs 

Is a quick cash loan safe? 

Like other kinds of loans, a fast cash loan from a reputable lender can be a safe financial option. Be sure to research any lender you’re interested in by reading Google reviews and looking for their rating on Trustpilot. 

For more than 25 years, Advance America has provided solutions for all sorts of financial challenges. With over 200,000 Google reviews and a 4.9-star Trustpilot rating, we’re a trusted lender working with borrowers at every credit level. 

Can I get a fast cash loan with no credit check? 

Lenders that don’t perform credit checks may require collateral. If you don’t have collateral or aren’t comfortable risking a valuable item, don’t worry! Direct lenders are often willing to work with borrowers who have less-than-perfect credit. They’ll consider factors in addition to your credit score, like your employment history, income, and overall debt situation. 

If you meet their requirements and only apply for the amount you need, you could be approved for a quick cash loan even with poor or bad credit. 

How do I decide which type of cash loan is the best? 

When considering any loan, you want to make an informed decision. Be sure you’re clear on your loan needs and that you research lenders by doing the following: 

• Determine how much you need to borrow. If you only need a few hundred dollars, a Payday Loan may be a good option. But if you need a larger amount of money to cover an expense, consider an Installment Loan or a Line of Credit. 
• Compare fast cash loan rates. The lower the interest rate you lock down, the less you'll pay for your fast cash loan. Compare fees and annual percentage rates from lenders who offer fast cash loans so that you can find the best deal. 
• Find a fast cash loan with low monthly payments. If you take out a fast cash loan with high monthly payments, you may not be able to manage your monthly expenses. Before you decide on an instant cash loan, make sure you can comfortably afford to make the payment each month. 
• Gauge your timeline. How soon do you need the funds from a fast cash loan? If you need to pay your bills in a few days or a week, look for a lender that offers quick emergency loans. You don't want to commit to a loan only to find out you'll have to wait weeks to collect the money. 

How soon can I get a fast cash loan from Advance America? 

When you need money quickly, consider a fast cash loan from Advance America. We offer an instant approval decision, so you may find out whether you're approved in just a few minutes. If approved, we'll give you the funds as soon as the same day you apply or within 24 hours.