Let’s discuss some of the fastest forms of loan.
Payday Loans
Payday loans are always going to be the quickest loans because there are no credit checks involved. All you have to do is tell them how much you need and how long you want to borrow the money for.
The interest rates are high, which is the big downside, but if you need the money within a few hours there’s no faster way to get that money.
There are plenty of payday loans companies around, so do your research and see which one offers you the best deal.
Credit Cards
Credit cards are another easy way to get money fast. If you have a good credit score and own one of the top cards, you can benefit from the ability to borrow a couple thousand dollars with no questions asked. The terms of repayment are generally fairer than payday loans, but your credit score does come into it.
What if you don’t have the score to get one of the better credit cards, though?
There are still options available to you. One option is to take out a credit card for those who have bad credit. You can borrow small amounts of money with no questions asked, which is still a superior option to going to a bank.
Person-to-Person Lending
The final option that would fall under the definition of ‘quick’ is to lend from someone you already know, such as a family member or a friend. The chances are you won’t be able to borrow as much money, and you will have to make a conscious effort to repay on-time, but it’s often the case where you can get money without any interest attached.
Another variation of this is crowdfunding. We wouldn’t recommend this because it does take much longer to get funded, and there are no guarantees you’ll actually get the money, but on the other hand you don’t have to pay the money back.
Conclusion
The best ways to get money fast is to either use your credit card or to take out a loan with a payday loan company. Just make sure you always consider the financial implications of taking out a loan. Ensure you have the means to pay back the money on-time.
source: christianfinanceblog.com
