How Can I Borrow Money and Get It Today?

Even if you’re very vigilant with your spending, there may come a situation when you’ll be requiring more money than you have, stat. After all, emergencies happen – for example, your car might break down, or you or your loved one might end up in a hospital and you might find yourself needing additional funds as soon as on the same day. 

If you’re in one of those now, or you simply prefer to be prepared and know what you should do when the worst comes to the worst, you’re in the right place. There are actually a few different options to choose from as far as quick cash loans are concerned – and we’ll talk about some of them below. 

Choose an Emergency Loan 

The answer to the question, “How can I borrow money instantly?” are emergency loans, which are exactly what they sound like. Those are loans that you’d turn to when you need quick cash. Since not all emergency loans are created equal, and there are actually several types, it’s important to know what your options are. So, here are some you should consider when you need to access money as soon as possible. 

Tax Refund Advance 

Also known as a tax refund emergency loan or refund anticipation loan, a tax refund advance allows you to access the funds you are expected to get back from the government without having to wait until the IRS processes your tax return. 

While usually they are only offered between December and February, at Income Tax Loans Now, you can apply for them all year round. Our lenders also don’t require a credit check, so if your financial history leaves a lot to be desired, it might be the more accessible option compared to other loans. 

Payday Loans 

Payday loans are also known as payday advance loans – and that’s essentially what they are. A paycheck loan is taken against your next paycheck, giving you access to funds when you’re not due to get your salary for the next couple of days or weeks. 

There are a few requirements you need to meet, like being at least 18 years old and having a regular source of income, but they’re less strict than traditional loans. You also don’t need to wait for the decision, as the whole process, including the money transfer, is often completed on the following business day or faster, especially in the case of the 1-hour payday loan. 

Personal Loan 

Personal loans are good if you need a larger sum of money that you won’t be able to repay right away, as they usually have an extended repayment period consisting of monthly installments. While aside from repaying the amount you borrowed, you also need to pay interest and, in some cases, also fees associated with it, it is still, in many cases, one of the best solutions for those in an emergency situation – especially considering the short processing time. 

One drawback, however, is that credit score is taken into account, so if you have a bad credit score, your interest rates might be higher compared to a person with a good credit score. 

Credit Card Cash Advance 

If you have a credit card, you can use it as a way to get emergency funds – a solution called credit card cash advance, which allows you to either transfer funds from your credit card account into your checking account or withdraw money from that account at an ATM. 

There’s one certain drawback of this option, however, that might want to reconsider it – those are the fees. Fees associated with credit card cash advances tend to be higher than those in

the case of regular card transactions. There’s also no grace period, so the interest on the loan starts to accumulate right away. 

Title Loans 

Another good solution for emergency situations are title loans. When taking a title loan, you borrow against the value of your vehicle. Typically, you can get about 25 to 50% of its value, so if, for example, your car is worth $10,000, you might be able to get a loan of $2,500 to $5,000, depending on the lender. 

One good thing about it is that, while you do use your vehicle’s title as collateral, you don’t actually have to give up your car – you can continue using it until the loan is paid off. However, if you fail to do so, your car will be repossessed. That’s why, if you decide to take on a title loan, you have to be sure you can repay it within the established time period. 

How to Apply for an Emergency Loan 

When it comes to how you can apply for an emergency loan, the whole process is very straightforward and looks more or less the same regardless of the type of emergency loan you would like to apply for.

The first thing you need to do is decide which emergency loan type you want to apply for. Make sure that you meet all the requirements needed to be approved for the loan, as this will make the whole process a lot quicker and easier. 

Then you have to choose your lender. At Income Tax Loans Now, we have a network of trustworthy and reliable lenders that we can refer you to, which saves you time, as you don’t have to do the research yourself. 

Once you have your lender, you have to fill out the application – it will typically include basic personal information, such as your name, last name, date of birth, as well as your employment details and the amount you’re applying for. Some forms might also require you to state the purpose of the loan. 

After the form is completed and sent, you will need to wait for the decision. With online loans at Income Tax Loans Now, that won’t take more than two minutes. If the decision is positive, you will receive documentation you will need to sign and send for the loan process to be completed. 

When the whole process is done, the money will be sent to your account – in most cases, you will receive it no later than the next business day, although oftentimes, the funds hit your bank account even on the same day. 

The Bottom Line 

Life can be unpredictable, which means that one day you might find yourself in a situation where you will need funds that you simply don’t have as soon as possible. Being late on rent, someone ending up in a hospital, or your car breaking down are just a few instances in which emergency loans might be a lifesaver. 

However, before you do anything in this regard, it’s important to do your research so that you can be sure the type of loan you’re considering, and especially its repayment terms, fit your situation. The same goes for the lender – you have to be sure you’re picking a reliable one. 

At Income Tax Loans Now, we work with a network of trustworthy and reliable lenders. So, if you’re in need of emergency funds, let us help you out. Get in touch with us today, or go straight for the online application and have access to the loan money today! 

Related Reading