When a person is looking for a fast way to get cash, they may be curious about what their options are. There are several ways to get fast cash—from credit cards to loans. Some methods of borrowing are faster than others.
Before deciding on a borrowing method, it may be helpful to compare each form of borrowing to another. A few things to look at about each type; is exactly what they are, the process of each type, and lastly, who can qualify for each one. Here are a few ways to get fast funding.
Loans to Look At When Looking For the Fastest Way to Get Cash
In the world of loans, there are many different options out there. Generally, the following type of loans tend to be the fastest:
- Fast/Quick/Same Day Cash Loans: These are loans specifically made for those who need funding in a very short amount of time. The time they take can range anywhere between two to four days- still pretty quick considering the time it takes for other kinds of loans.
- Car Title Loans: These are secured loans where a car’s title is put down as collateral against the loan. The funding can be made available in as little as one to two business days.
- Payday Loans: These loans offer a smaller amount of money given out to the borrower. It needs to be paid back once the borrower receives their next paycheck.
A credit check is not always required for some of these types of loans and may not impact eligibility if checked. These loans may do the trick for those with poor credit who need funding quickly. However, it is important to know that because of the risk lenders are taking (not checking credit), the amount of interest on these loans can be extremely high.
So before signing up for these loans, pay attention to the interest in terms of the APR (annual percentage rate) and the MPR (monthly percentage rate). Other than paying attention to the amount of interest, it is also important to find a reputable lender.
Loans When Speed is Not a Top Priority
If a person has a few days until they need funding, they can spare some time looking for cash. Here are a few types of loans that are fairly fast—could take anywhere from five days to a week—to provide funds:
Personal Loans: These are loans that can be used for almost anything. Many banks offer personal loans, and both the eligibility and interest rate are determined by a credit check. Be prepared to make an appointment with a potential lender and wait a few days for this type of loan.
Home Equity Loans: These are a type of secured loan where the security of the loans comes from the borrower’s home. The loan’s value will largely depend on the home’s value. Not all loan lenders give these out, but finding one isn’t too difficult. These may take longer than a week.
401K loans: This is a loan to yourself from yourself—as the funding comes straight from a 401k. The loan is usually paid back straight through a paycheck, and if you leave the job, you will have to work with whatever company manages finances/HR.
Credit Cards: Some credit cards offer their customers the ability to get cash back advances. Think of this as simply using your credit card to get cash rather than a purchase. Most of the time, there are no fees to do this. It just gets added to the credit card’s balance.
Where Can I Get Access to Fast Funding?
When pursuing any kind of lending, finding a reputable lender that fits all your lending needs is important. There are many lenders out there, but at Max Cash®, we offer our customers exceptional service. The great thing about Max Cash is that we offer a variety of loans and all kinds of scenarios. For example, if a customer doesn’t have the best credit score, we could still match them with a lender. If a borrower wants the best interest rate, we could figure out options for them, and so forth. Our team is knowledgeable about all the different loans out there. We want to help you learn more about each process.
When looking for funding, a person may be concerned about the time it takes to receive money. Max Cash may be a suitable option for those who are confident about being able to pay back the money and need money ASAP. 5 At Max Cash, we offer our qualified customers a variety of loan options and exceptional customer service.5
