What to Do When You Need $500?
As a consumer, you don’t always have the full amount of money to pay for everything you need. When your savings account is not enough, a loan could solve your issue. A convenient interest rate will depend on the exact amount you request, state and local regulations. Banks will most likely reject your application if you have a bad credit score. Most of them won’t consider smaller amounts. Luckily, there are modern options for poor scores and flexible amounts.
What do you do if you need a 500 dollar loan on the same day, but you don’t have the best credit history? You can now access fast short-term cash advances. For unexpected medical bills or urgent expenses, these loans are quick to save the day. These lenders don’t usually require a minimum credit score, which makes a small-dollar loan easy to obtain.
How Can I Get a $500 Loan with Bad Credit?
If you need cash now, apply for a payday loan online. Lenders that offer short-term loans don’t usually require excellent scores. While they do check your credit history, a bad score will typically not affect your approval. The reason is that, unlike banks, direct lenders don’t do a hard check through traditional credit bureaus. Simply put, your application will not affect your score. Requests are open on our website.
Your record with previous debts won’t prevent you from accessing a new loan product. However, a payday lender will check your income source to make sure you can pay them back. You will receive a loan offer on the condition that you qualify. Contrary to popular belief, a payday loan is not guaranteed, but it is easier to get.
How Do $500 Online Payday Loans Work?
Fill out your loan application on our website. It will ask for the loan amount you need, your contact details, and your income source. Ensure your answers are accurate. Don’t let a typo jeopardize your chances of getting approved.
Once you submit your application on our website, it goes to our lending partners. They will check your eligibility. If a direct lender approves your request, you receive the loan agreement. Even if you are in a rush, read all the details before signing it. Be aware that the lender may ask for more information or need more time to verify your data. That will influence the processing time. Customers typically get an instant decision and a deposit on the next or same business day. However, there are exceptions, depending on each case.
How Much Does a $500 Loan Cost?
Requirements and terms, fees, and APR ranges for payday loans vary in different states. Generally, there is a fixed charge between $10 and $30 for every $100 that you borrow. For a 500 dollar 14-day loan at an average interest of $20, you would pay back $600. A short-term loan typically has a higher APR than other loan products, which means that consumers may pay more interest. Nonetheless, for someone who has a bad credit report and no alternative option, access to a loan can be life-changing. Payday loans are available in most states due to their popularity and ease of access.
How to Qualify for a 500 Dollar Loan?
In most cases, your eligibility for a short-term loan is determined by a few simple factors. To qualify for a loan of $500, you need to meet the following requirements:
- Be at least 18 years of age;
- Hold a valid ID as a US citizen or permanent resident;
- Have an active bank account;
- Have a steady income source from a job or other regular monthly payments;
- Provide a valid email address and phone number;
Some information and regulations may vary depending on your state.
Even unemployed citizens have a chance to be approved, as long as they have a recurring monthly income source. That includes people who receive disability benefits, alimony, and other payments.
Apply for a loan online by filling out and submitting the loan request form. In case of approval, you will get an almost instant decision on typical business days. If the application process goes well, you will have your money in one business day or even on the same day.
Yes, you can get a $500 loan even for bad credit. Payday lenders don’t rely on credit scores to establish your eligibility. As long as you meet the main requirements, you have good chances to access a cash advance, even with a score below 500.
Cash advances are a quick solution. A handful of banks or credit unions could offer you $500 if you meet their conditions. Some people could get cash advances through their credit cards. Others can pawn a valuable object or borrow from friends and family. It all comes down to your case.
Most payday businesses work online as well, which makes it easier to access the money you need. You can request $500 from a direct lender on our website.
Yes, it’s possible to get approved for a short-term cash advance even when you don’t have a traditional job. If you are self-employed or receive monthly benefits or payments, you could qualify. A payday lender will assess your ability to repay the debt. Any proven recurring income source counts.