Sometimes, you only need a small amount of money to hold you over until your next paycheck. Or, if an unforeseen expense arises, $500 can be all it takes to pay the bill. Don’t let your financial problems grow, opt for a 500 dollar loan and get the money you need! Bad credit or no credit won’t prohibit you from applying online and getting approved for a 500 payday loan today.
What Is a 500 Dollar Loan?
A payday loan is an unsecured short-term loan that can help you cover emergency bills. Typically, they’re for a small sum of money, under $1000. Most cash advances are repaid when you receive your next paycheck. In the case of a $500 payday advance, the sum loaned is $500. And, on some occasions, the lender can either extend your repayment term or allow you to make monthly installments.
This is done to help make the repayment process more relaxed and to protect you against late fees. If you’re considering this be sure to connect with your lender. Despite the repayment option you choose, you will still get your money within one business day or sooner following approval.
$500 loans come with a likely chance of approval. Our high rate of accepted offers extends to those with poor credit or no credit at all. No hard credit check, long applications, or faxing is required for you to get the cash you need fast.
What Can I Use a $500 Payday Loan For?
There are no obligations or limitations on the money you are loaned. Many borrowers opt for a $500 payday loan when they need to cover medical costs, car repair bills, rent, utilities, or other necessary expenses. Our lending partners respect your private information and will not require you to provide a reason for requesting a loan. We keep your financial needs confidential and you can use the money as you please.
Who Is Eligible for a $500 Small Loan?
Our requirements are uncomplicated and easily met by the average borrower. Before you apply, check if you meet the criteria outlined below:
- An adult of 18 years or older
- A citizen or permanent resident of the US
- A steady income source from stable employment or other means
- A checking account active for longer than one month
You will also need to provide a working email address as this is how the lender will correspond with you. Each lender can have slightly different requirements, as can individual states. However, most consumers are able to meet the criteria with ease.
What Does the $500 Loan Process Look Like?
You will be happy to know that our loan process is fast and relatively uninvolved, especially compared to traditional lending processes. Start by filling out a form online. It will ask for your basic information and financial details. Be sure to verify this info before you submit the form for review!
Your application will then be forward to one of our hundreds of direct lenders. We work to find the lender that is right for you and offers the most competitive loan. They’ll review your application and make an instant approval decision. If granted, you will be emailed with the loan agreement.
The contract will require your e-signature. But before signing be sure to double-check your responsibilities, the interest rate, fees, costs, and conditions. You can ask your lender for clarification if necessary. Once you sign the loan agreement you will receive a deposit directly into your bank account. Sometimes this can occur on the same day if you meet the lender’s cut-off time. If not, you will get your money the following business day.
Once the funds are in your account you can use them immediately. Once the repayment date rolls around the lender withdraws the payment plus any fees from your account. Keep an eye on your balance to avoid late fees.
Are There Types of $500 Loans?
Borrowers taking a $500 loan know they only need a small sum of cash. They usually don’t plan to pay for college, buy a home, or purchase a new car. These types of loans are sought from traditional financial institutions who usually don’t lend to those with bad credit and don’t even consider loaning only $500.
Thankfully, our lending service makes getting the small sum of money you need efficient and quick. There are a few ways to get your $500 loan.
- A cash advance or payday loan doesn’t require a hard credit check. A loan can be requested for nearly any amount under $1000. These loans generally have a term of fewer than thirty days.
- A car title loan lets you use your vehicle as collateral. They can last a few months and offer you up to several thousand dollars. You can still use your car for daily travels but if you fail to meet your installment repayments your vehicle will be taken by the lender.
- A personal loan uses regular payments each month too to satisfy your debt. It can be taken for $500 or more. When it comes to a personal loan you have a variety of lending companies to choose from.
Are There Bad Credit $500 Loans?
You can breathe a sigh of relief, lackluster credit won’t prevent you from getting a $500 loan. Unlike traditional banks, our lenders don’t run a hard credit check. They won’t run your details through a Teletrack system and they won’t base their decision on your borrowing history alone. Instead, they do a basic check of your history with a soft credit check and consider this along with your ability to repay the loan.
No hard credit checks mean more borrowers get approved for $500 payday loans. Additionally, the entire process can be completed online and is very fast. Save yourself time, effort, and don’t risk damaging your credit score further by applying for a $500 cash advance online.