Where to Get a $400 Loan Fast

We’ve all been in situations where we need money in a hurry to make ends meet. Whether you’re behind on rent, can’t afford groceries this month, or need quick funds for an auto repair, it’s important to know where you can get a $400 loan fast. 

How to get a $400 loan quickly

There are several ways to get a $400 loan when you’re short on funds. From banks and credit unions to direct lenders and credit card companies, the possibilities are numerous. 

Remember, though, that each lender will have its own stipulations and costs when you borrow from them. Some lenders may have more stringent credit requirements. Others may offer no-credit-check loans with higher interest rates. 

It’s important to understand these differences and compare your options so that you choose the right lender for you. 

Loan options 

There are a few common $400 loan options you might pursue when you need money in a hurry. 

Payday Loans 

Also known as Cash Advance loans, Payday Loans are designed to give you the money you need between paydays. These small-dollar loans are typically between $100 and $1,000, depending on your income, which makes them ideal for a $400 loan. 

Payday Loans are available from direct lenders like Advance America. Since Payday Loans tend to have higher interest rates than traditional personal loans, be sure you can repay the loan amount in full on your next payday. 

Personal loans from online lenders 

You could also consider a personal loan from an online lender. Getting a loan online is one of the most convenient ways to borrow money because you can apply from your phone, tablet, or computer. 

As with any type of creditor, remember to compare your options and work with a reputable online lender. 

Credit union loans 

If you’re a member of a local credit union, you might be able to secure a $400 loan directly from them. 

Credit union loans often have lower interest rates than other types of small-dollar loans. The downside is that the process may take longer, and credit unions typically require a decent credit score for loan applicants. 

Cash advance on a credit card 

A cash advance on a credit card is not the same as a Cash Advance loan. When you take out a cash advance on your credit card, the amount you owe shows up on your monthly credit statement. Typically, you would contact your credit card company to request a cash advance, but in some cases, you may be able to withdraw cash directly from an ATM. 

Credit card cash advances can be convenient, but keep in mind the total cost. Most credit card companies charge a one-time cash advance fee — and interest starts accruing as soon as you receive the funds rather than at the end of the billing cycle like regular credit card purchases. 

Buy Now, Pay Later apps 

Buy Now, Pay Later (BNPL) is exactly what it sounds like — a loan that you can use to buy something today and pay it back later. BNPL options are typically app-based or offered through online retailers at check out. 

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Alternative ways to borrow $400 

Depending on your situation, you may not have access to a lender who can give you a $400 loan quickly. Or maybe another debt payment won’t fit into your current budget. Either way, you may still be able to borrow $400 without going through a lender. 

• Ask your employer for overtime. If you want to avoid borrowing money altogether, you could ask your boss for overtime hours. This allows you to raise the funds on your own without having to worry about repaying anyone. 
• Ask your employer for a pay advance. If you don’t have the bandwidth to put in more hours at work, you could request a pay advance. 
• Go to your friends or family. Asking loved ones for help is one of the cheapest ways to borrow $400 quickly. Friends and family typically don’t charge interest or hassle you to repay on a tight schedule. As long as you are responsible and repay the money as quickly as possible, this could be a good option. 
• Utility payment assistance. If you need a fast $400 loan to pay your utility bill, you may qualify for utility payment assistance. Visit USA.gov and fill out the online application to see if you qualify! 
• Government grants. In addition to government assistance for utility bills, there are also government programs designed to help with other bills. You can apply for grants for everything from phone bills and internet service to groceries and rent. 
• Local charities or churches. If you are short on funds but don’t qualify for government assistance, there may be a local church or charitable organization that can help. Charities will vary based on your location and you may need to be a member of an organization to secure assistance from them. 
• Raise the money on your own. There are numerous ways to earn extra money. For example, you might hold a garage sale or list items on Facebook Marketplace, Craigslist, or eBay. Another option is to pick up a side gig. 

➢RELATED: What Is the Gig Economy?

More on Loans

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Can you get a $400 loan with no credit check? 

Maybe your credit score disqualifies you from applying for traditional loans. If so, you could still get a $400 loan with no credit check. 

The best way to do this is by going through a direct lender, not a bank or credit union. In most cases, direct lenders have a faster approval process and same-day or next-day payouts. 

Tips to get your finances back on track 

• Create a budget. If you talk to any financial advisor, the first thing they’ll likely tell you is to create a budget. Creating a budget will help you understand where your money is going and where it’s coming from. It will also make you much more aware of your spending habits and help you change them if necessary. 
• Set financial goals. Financial goals can be anything from paying down your debt to setting money aside for a down payment on a house. Determine what’s most important to you financially and set your goals accordingly. 
• Open an emergency fund. One of the main reasons people get into financial trouble is because of unexpected expenses. Building an emergency fund will help protect against these expenses and give you a cushion to fall back on. 
• Start investing. Once you’ve created a budget and have an emergency fund in place, you can start investing some of your earnings. Making smart investments can help you build wealth for the future — not just the here and now. 
• Pay down your debt. Pick a debt repayment plan, like the debt snowball method, and stick to it until you’re debt-free. 
• Borrow responsibly. Although it’s always best to avoid taking on extra debt, odds are you’ll have to borrow money at some point. When this happens, it’s important to do your research, compare lenders, and ensure you can repay what you borrow. 
• Set up automatic payments. With the hustle and bustle of life, it’s easy to forget to make basic payments on things like your utilities, rent, and more. This can result in late fees, making it even harder to pay for them in the future. You can avoid this issue by setting up automatic payments on as many of your expenses as possible. 
• Monitor your credit report. Your credit score is largely what determines the types of loans you qualify for and how favorable your loan terms will be. As such, it’s important to monitor your credit score so that you can do things to improve it if necessary. 
• Keep an eye on your accounts. Regularly check your bank and credit accounts so you can adjust your spending as needed. 

FAQs about borrowing $400 

Do banks offer $400 loans? 

Many banks offer small personal loans. If you’re an accountholder, you may qualify for a $400 loan with a good credit score. Keep in mind, however, that the approval and funding process may take longer than if you go through a direct lender. 

Can you get a $400 loan with bad credit? 

If you meet a lender’s eligibility requirements, you could still get a $400 loan with bad credit. Direct lenders like Advance America offer personal loans based on your income and employment, not your credit score. 

Will a $400 loan affect my credit? 

Depending on the lender you choose, a $400 loan may affect your credit, especially if you fail to repay the loan on time. When you apply for a loan at Advance America, there’s no impact to your FICO score or VantageScore.