Strapped for cash and need to borrow 100 dollars before payday? You’re not alone. A $100 loan might seem small in the grand scheme of things, but when your gas tank is running on fumes or you need groceries to make it through the week, that Benjamin can be a financial lifesaver.
Let’s face it – we’ve all been there, eyeing our bank account like it might grow extra digits overnight. This guide breaks down some of your best options when you need a $100 loan that won’t come back to haunt your wallet later.
Need access to cash to cover expenses without taking out a loan? Instacash lets you access up to $500 of your paycheck early, perfect for small, one-time expenses or as an alternative to a $100 loan.
How can I get a $100 loan?
A $100 loan can bail you out faster than your friend who “forgot their wallet” at dinner. The key is knowing where to look.
Paycheck advance apps
Also known as earned wage access and similar to a cash advance, these services are not loans but rather advances on money you’ve already earned but haven’t been paid yet.
Most don’t charge interest but may come with a fee if you want fast funding. To qualify, you’ll need regular direct deposits and a bank account history over 60 days.
Get a personal loan online
Online personal loans can work even when you just need to borrow 100 dollars. Most lenders have minimum amounts of $500 to $1,000, but newer fintech companies may help to bridge the small-loan gap.
You can either look for personal loan lenders online or use a marketplace to get a compiled list of the different personal loan offers you can qualify for.
The process can take just minutes. Simply answer a few questions on the provider’s site, request your $100 or more, and if you qualify you will get multiple offers to choose from. The money could be deposited into your account the same day with some lenders. You’ll pay back your Benjamin plus a bit of interest according to a set schedule.
MoneyLion can help you find personal loan offers up to $50,000. See below.
Visit your local bank or credit union
You can try to apply for a traditional $100 loan at your local bank or credit union. Just keep in mind that some banks and credit unions often won’t approve loans under $500. But nonetheless, it can be worth a try, especially if you’re already a member with accounts in good standing.
Credit card cash advance
While not ideal due to high interest rates, your existing credit card might allow you to withdraw $100 from an ATM. Credit card cash advances typically start charging interest immediately (often at higher rates than purchases) and may include upfront fees of 3 to 5%.
Ask your boss
Your employer might be your quickest path to a 100 dollar loan – without the paperwork or credit checks. Consider asking your boss for a small advance on your next paycheck. If you work for a larger firm you can also check with your company’s HR department. This could come with some serious perks: typically zero interest, no application fees, and straightforward repayment (they’ll just deduct it from your upcoming paycheck).
While there’s no guarantee they’ll say yes, the worst outcome is a simple “no.” The best outcome? You get your $100 today and avoid the fees that come with almost every other borrowing option.
Pawn something
A quick way to get $100 is to visit your local pawn shop with something valuable, such as electronics, jewelry, musical instruments, or tools typically work best.
The process is straightforward: they’ll assess your item, make you an offer (usually 25% to 60% of resale value), and hold your item as collateral while you get cash on the spot.
You’ll have a set time period (typically 30 to 90 days) to return the loan amount plus interest, which can range from 5% to 25% monthly depending on your state.
The upside? No credit check and immediate cash. The downside? If you can’t pay it back, you’ll wave goodbye to whatever you pawned, potentially losing something worth far more than the $100 you borrowed.
Ask your family or friends
The oldest lending institution in the book might be your best bet for a no-interest, guaranteed $100 loan (just be sure to pay it back!). Consider using a payment app like Venmo or PayPal for clear documentation, and be specific about when you’ll repay.
Most importantly, if you can’t repay on time, communicate early – and don’t ghost them. Remember: your $100 emergency isn’t worth losing a relationship that’s worth way more.
👉 How to Turn $100 Into $1,000
Buy now, pay later (BNPL) services
BNPL services like Affirm, Klarna, and Afterpay let you split that payment into bite-sized installments – typically four equal payments over six weeks with zero interest if you pay on time. While not technically loans, these digital payment options effectively front you the cash you need for certain purchases, typically requiring about 25% down.
Just watch those missed payments, they can trigger hefty late fees and potentially damage your credit score if the service reports to bureaus.
Pick up a side gig
Although it’s not a loan, a side gig can help you earn some extra cash. There are tons of creative ways to make money fast. Dog walking, babysitting, tutoring, renting out a spare room in your house, and delivering groceries are just a few options.
Recommended: 30 Best Side Hustle Jobs in 2024
Earn extra money with online surveys and games
The digital world offers a low-effort way to score that $100 without borrowing at all. Legitimate survey sites and gaming apps pay you to share your opinions or play games on your phone, all from the comfort of your couch. Just be realistic—these won’t make you rich quick, but dedicating a few focused hours could net you that needed $100 within a week.
PRO TIP! Create additional income by doing surveys and playing games.
Payday loans
Payday loans allow you to borrow $100 almost instantly with minimal qualification requirements – typically just proof of income, a bank account, and an ID. But let’s not sugarcoat it: These loans come with serious financial risks.
The fees typically equate to annual percentage rates (APRs) between 300% to 700%, meaning that $100 loan could cost you $115 to $130 in just two weeks.
If you can’t repay on time, the debt can quickly spiral as fees compound and lenders offer rollovers that trap borrowers in cycles of debt. Before considering this option, try to exhaust all alternatives; even a late bill payment fee is usually more affordable than what these high-cost loans demand.
Need 100 Dollars Now? Smart Ways to Get Quick Cash
When you need 100 dollars now, it’s easy to panic and grab the first option you see. From paycheck advance apps that front you money you’ve already earned to asking your boss for an advance, the key is choosing the solution that costs you the least in both money and stress.
Remember that some of the most promising $100 loan approval offers mention the fees in the terms and not upfront. Surprise fees could turn your small emergency loan into a much bigger financial headache.
Before borrowing, take a quick minute to consider whether you can earn the money instead or if your expense can wait until payday. Your future self (and your bank account) will thank you.
👉$200 Loan
👉$1000 Loan
👉$2000 Loan
FAQs
What are the best places to get a $100 personal loan?
Finding the best places depends on how quickly you need the $100 personal loan. Credit unions, paycheck advance apps that offer earned wage access, and “Buy Now, Pay Later” services are typically most likely to offer options when you need $100 quickly. Friends and family might be your cheapest route (zero interest), but be sure to treat these arrangements seriously to avoid relationship drama.
What is a $100 loan?
A $100 loan is a small-dollar borrowing option that gets you just enough cash to handle mini-emergencies without the heavyweight commitment of traditional loans.
How do I repay my $100 loan?
Repayment options for a $100 loan can vary depending on the lender. Some lenders may require automatic deductions from your bank account, while others may allow you to make payments online or in person.
What happens if I can’t repay my $100 loan on time?
If you miss your $100 loan repayment, you’ll typically face late fees, additional interest charges, and potential damage to your credit score, depending on the lender or the service provider you work with.Â
Are there apps that offer quick $100 loans?
Yes, several apps, including earned wage access platforms and cash advance apps can provide $100, directly to your bank account, often shortly after you qualify. These products are technically not “loans”. They may also feature minimal fees compared to loans and base qualification more on your income pattern than your credit score.
