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What Types of Emergency Loans are Available?

When you’ve hit a financial roadblock, it can seem like you are completely on your own. You may be struggling to get the money you need to make ends meet, resorting to things like:

  • Pawning or Selling Items
  • Applying for a Second Job
  • Asking Friends and Family for Emergency Cash
  • Creating an Online Fundraiser

While it is possible to get emergency cash through these options, it could take a lot of time and effort. Thankfully, emergency loans could be available to help you in your time of need!1 If you need a loan urgently, you may have more options than you think.

Take a closer look at some of the different kinds of emergency cash loans:

Payday Loans

If you need emergency cash immediately, a payday loan is one of the most popular options available. Although payday loans are a fast way to obtain money, the loan must be repaid within a short period of time. Payday loans were created to help individuals who are experiencing financial hardship in between pay periods, so the loan term could be anywhere from two weeks to 30 days, depending on your state and lender.

With a payday loan, you could potentially face high interest rates and fees, so the repayment process could be difficult. If you are approved for a payday loan and sign your loan contract, you may be required to pay a loan origination fee.

Personal Loans

If you are looking for emergency cash loans, you could apply for a personal loan through a bank, credit union, or an online lender. With a personal loan, your credit history and income are predominantly used by the lender to determine your eligibility and loan amount. If you do not have a good credit score and a steady source of income, it can be difficult to qualify for this type of emergency loan option. And, even if you are able to qualify for a personal loan with a bad credit score, the interest rate you receive may not be ideal.

Credit Card Cash Advances

If you have a credit card, one of your options to get emergency cash could be a cash advance. Some credit card providers will allow you to access a portion of your credit limit through a cash advance. One of the main benefits of a credit card cash advance is that you don’t need to apply for a new loan if you already have a credit card provider.

Since you will be using your credit card, there are a couple of key things to keep in mind:

  • Cash Advance Fees: Some credit card companies will charge flat fees when issuing an advance, while others charge a percentage of the advance.
  • ATM Fees: If you withdraw the cash advance from an ATM, there could be a small fee associated with using the ATM (usually between $3 to $10).
  • The Amount You Can Access: Typically, you will only be able to access a portion of your available credit through a credit card cash advance. If you have no available credit, you will not be able to borrow emergency cash through a cash advance.
  • Interest Rates: The interest rate for a credit card cash advance is usually much higher than the interest rate for a regular purchase made with your credit card. Credit card cash advances can be a convenient way to access money, but if you do not pay them back promptly, you could end up in debt.

Car Title Loans

A title loan is a secured loan that allows you to use your vehicle title as collateral in exchange for funding. Your loan amount is primarily determined by the value of your vehicle, your income, and the state you currently reside in. With a title loan serviced by LoanMart, you access competitive interest rates if you qualify, and the approval process can be flexible, even if your credit history isn’t perfect!1

If you need a loan urgently, you may have a lot of options to choose from. However, with a title loan serviced by LoanMart, you can access a convenient and simple application process. If you have a qualifying vehicle and sufficient evidence of income, it can be simpler than you think to qualify for the financial help you need.1 Apply for a title loan online or over the phone today! Call LoanMart at 855-422-7412 to get started.1

What Do You Need to Get Emergency Cash Immediately?

emergency cash

It’s worth mentioning that some emergency loans will have certain requirements that are tailored specifically to that loan option.

However, here is a general list of some of the important factors that most lenders will consider during your loan application:

  • Evidence of Income: Most lenders will require an applicant to provide evidence of income during their loan application in order to confirm their ability to repay the loan. Some of the documents you can use to provide proof of income can include pay stubs, bank statements, a disability award letter, or a letter of employment from your employer. With a car title loan serviced by LoanMart, you can provide alternative forms of income, such as alimony or settlement income, during your application to demonstrate your ability to repay the loan.1
  • Value of Your Collateral: If you are applying for a secured loan like a title loan, you will be required to pledge an asset as collateral to secure the loan. Essentially, the collateral minimizes the potential risk for a lender to lend to an individual without a strong credit history. If the borrower cannot repay the loan, the lender can take action and seize the collateral.
  • Credit Score and Financial History: Although some lenders can cater to subprime borrowers, an applicant will typically need to have a good credit score to obtain approval for an unsecured loan. If you do have a high credit score, you will typically receive reasonable interest rates and optimal loan terms. However, if you qualify for an unsecured loan with a low credit score, you will likely receive a higher interest rate, which means you will pay more in the long run. With an auto title loan, lenders will review your credit history, but it is not the only factor they will consider during your application. Instead, your income and the amount of equity in your car will be the focal point of your loan inquiry.1
  • Debt-to-Income Ratio (DTI): Your DTI is a measurement that most lenders will use to determine how much of your current monthly income goes into paying off your monthly debt. Typically, a lender will look at your DTI during your application because it allows them to evaluate your income and determine if you are able to repay your loan.

If you are not a good candidate for an unsecured loan because of your credit history, you may be worried about applying for an emergency loan online. But, don’t give up on emergency loans! There could be a number of emergency cash options available to you.

With a title loan, your income and the value of your asset are the most important factors that will determine your eligibility for the loan. If you are able to meet the initial requirements and provide a couple of important documents to verify your information, you could potentially access emergency cash in as little as 24 hours!1 3

Visit the FAQ page or call a title loan agent at 855-422-7412 to learn more about the approval process and initial criteria for an auto title loan serviced by LoanMart.1

Can I Get an Emergency Loan with Bad Credit and Guaranteed Approval?

Are you looking for an emergency loan with bad credit and guaranteed approval? In some cases, it can be tough to apply for an emergency loan with bad credit that offers guaranteed approval. But, you can apply for a title loan with bad credit, and it’s possible to get instant pre-approval if you can meet the initial criteria and have a title to a qualifying car in your name.1

If you have a vehicle title in your name and proof of income, you may still be able to qualify for a title loan with bad credit! If you are eligible for a car title loan serviced by LoanMart, you could expect to receive your loan proceeds in as little as one business day!1 3

If you are concerned about your credit history affecting your ability to obtain loan approval, call a title loan agent today at 855-422-7412 to see if you can qualify for quick funding!1 Title loan agents from LoanMart are available six days a week for extended hours to answer all of your questions about emergency same day loans.

Where Can I Get Emergency Same Day Loans?

Looking for emergency same day loans? If you need emergency cash immediately, you don’t have any time to waste.

Go on the LoanMart website and fill out the short inquiry form to find out if you qualify for instant pre-approval!1 3 In some cases, eligible borrowers can receive their title loan proceeds the same day they apply!1 3 If you’re searching for a convenient way to get emergency cash immediately, why wait to see if you qualify for the financial help you need?1 3

How Fast Can I Borrow Money if I Need Emergency Cash Immediately?

loans for emergency cash

If you are stuck in a tough financial situation and need emergency cash to get back on your feet, know that you are not alone. Millions of Americans are in poverty and are struggling to make ends meet.

Some emergency loans can be fast, but they may not be fast enough! It is typically faster to apply for a loan through an online lender than it is through a traditional bank or credit union. The amount of time it takes to fill out an application for a loan will vary, but you can typically expect to spend anywhere from 15 minutes to an hour on it.

With a title loan serviced by LoanMart, the online prequalification form can take just a few minutes to fill out! If you qualify, you could get your money as soon as the next business day! However, some qualified borrowers could receive emergency funding the same day they apply!1 3

How Do I Apply for a Title Loan to Get Emergency Cash?

Ready to apply for emergency loans online? If you want to apply for a title loan and unlock cash with your car title, the application process can be simple:1 3

1. Click or Call

To apply for a title loan serviced by LoanMart, you will need to submit a pre-approval form online or call a title loan representative at 855-422-7412 to get started. It can take no time at all to fill out the inquiry form on the website and find out if you are able to qualify for instant pre-approval!1 3

2. Submit a Few Documents

There are a few documents that you must submit during the inquiry process for a title loan in order to verify your information:

  • Valid Government / State-Issued Photo Identification Card
  • Evidence of Income or Alternative Income
  • Proof of Address
  • A Car Title to a Qualifying Vehicle in Your Name
  • Recent Pictures of Your Car

With an auto title loan serviced by LoanMart, you can upload your paperwork online through the LoanMart website. Additionally, you can text or email the documents to a title loan representative if that’s easier for you.1

3. Get Your Money1

The last step of the title loan process is to sign your paperwork and collect your money if you qualify!1 You can choose from a few different ways to obtain funding, including:

  • Direct Deposit to Your Bank Account
  • A Check in the Mail
  • Pick Up Your Funds at any Participating Money Transfer Location Near You

Apply for emergency loans today! If you’re eligible for a title loan serviced by LoanMart, you could access quick funding in as little as one business day.1 3