No matter how responsible you are, you may one day find yourself in a situation where you need money fast. Maybe you made a little less than you expected one month, overspent on a holiday or special event, or simply ran into one of life’s unexpected expenses. No matter what the reason, if you find yourself short on cash, you have a few options.
1. Apply for a Loan – the Old-Fashioned Way
Securing a personal loan by applying through a bank or credit union is one way to get money when you need it. As long as you have a steady job, a good credit rating, and the ability to repay what you owe, you will likely qualify for a personal loan.
After the initial meeting, the bank will contact you to tell you whether you have been approved. The main problem is that the whole process can take days, or even weeks. If you need money right away, going to a bank may not be your fastest option.
2. Use a Credit Card
Many people use credit cards in an emergency. If you don’t have one already, you can always apply. As long as you have a steady source of income and a good credit score, you may qualify.
Unfortunately, like a bank loan, it can take weeks to get approved. The credit card company you apply with will want to thoroughly check your credit history and evaluate what sort of risk you pose.
Even if you already have a card, using it for emergencies or when you need fast cash can be expensive. Credit card interest rates are usually in the double digits, and if you can’t afford to pay off your balance each month, your bills will add up quickly. Even a relatively small credit card balance of a few hundred dollars can take years to pay off if you pay only the minimum amount each month. The interest you pay could even be higher than the amount you originally paid.
3. Liquidate Some Assets
Another option you have when you need cash is to sell some of your belongings. You can sell electronics or any other items you have, but don’t need – just advertise them online or sell everything at a yard sale or flea market. If you have assets like stocks or bonds, you can sell those as well.
The main problem with liquidation is you may get much less than your assets are worth. For example, if you decide to sell an older car when you really need cash, you may not be able to negotiate for the best price possible and could end up losing money on the deal. There’s also no guarantee someone will want to buy what you are selling, which means you could still end up without the cash you need to pay your bills.
4. Apply with LendingUSA
LendingUSA is a convenient online financing portal that uses cutting-edge technology to get you money fast. Our lending process is quick, easy, and straightforward – all you need to do is contact us by phone or fill out our online loan application, which takes just 90 seconds or less to complete.
We offer fast credit decisions, so you won’t have to wait long to find out your approval status and rate. Once you’ve filled out your loan documents and we’ve verified your identity, LendingUSA will deposit the money in your account within one to three business days. That means you’ll get the money you need without having to sit around for weeks and weeks before you know if you’ve been approved.
Whether you need financing for an emergency situation, cosmetic surgery, a home improvement project, or even a new pet, LendingUSA’s quick decisions and competitive rates make us a great option for almost every financial need. Apply now and let us know how we can help!