Quick Personal Loans: Emergency Loans for Fast Cash

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Editor’s note: Lantern by SoFi seeks to provide content that is objective, independent and accurate. Writers are separate from our business operation and do not receive direct compensation from advertisers or partners. Read more about our Editorial Guidelines and How We Make Money.
How Fast Can I Get a Loan?
Are Quick Personal Loans Safe?
How Can I Get a Fast Loan with Bad Credit?
How Can I Get Emergency Money Fast?
Credit Card Cash Advance
Online Loans
Pawn Shop Loans
Payday Loans
Title Loans
Small Business Loans for People with Bad Credit
What You Need to Know If You’re Considering an Emergency Loan
Pros of an Emergency Loan
Fast application: The application typically won’t take you hours to complete. Most can be completed in a single sitting. Possible same-day deposit: When you provide a bank account, the money may be deposited the same business day that you apply for it. Some lenders may offer quick $4k loans. Flexible loan terms: You may be able to choose your repayment plan for many emergency loans. Money can be used for anything you need: You don’t need to specify what the money will be used for. Whether it’s for new tires or a medical emergency, it’s up to you how the funds will be spent.
Cons of an Emergency Loan
Higher interest rates: Depending on the specific type of funding, emergency loans usually come with higher interest rates than standard loans. Smaller loan amounts: You likely won’t be able to borrow as much as you could with a standard loan. The maximum amount you’ll be able to borrow will vary depending on the institution, loan type, and your ability to repay it. Lenders may offer quick $2,000 personal loans on an emergency basis.
Alternatives to High-Interest Loans
Home Equity Loans
Peer-to-Peer (P2P) Loans
Traditional Loans
The Takeaway
Frequently Asked Questions
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About the Author
Lauren Ward is a personal finance expert with nearly a decade of experience writing online content. Her work has appeared on websites such as MSN, Time, and Bankrate. Lauren writes on a variety of personal finance topics for SoFi, including credit and banking.
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