Everyone needs a little help now and then. Whether you’re paying off a large debt, grappling with medical expenses, or tiding yourself over until payday, life happens.
In fact, life happens so frequently that about 22% of U.S. adults have taken out a personal loan to cover everything from debt consolidation to home improvements.
As of December 2020, the average personal loan size fell to $4,800. But what if you don’t need a massive boost? What if you just want a $100 loan or a similarly small amount?
If that’s you, then you’ve come to the right place!
How can I get a $100 loan?
If you’re searching for ways to get fast cash now, a $100 loan can put money in your pocket almost immediately. The key is knowing where to look.
Instacash Advance
What app lets you borrow $100 with same-day funding? As it turns out, we do!
MoneyLion offers one of the quickest ways to get a $100 cash advance courtesy of Instacash. All you have to do is sign up for a MoneyLion account, link your external bank account, and apply for an Instacash loan. With consistent income and an account in good standing, you can qualify for up to $100 in just minutes.
Better yet, if you don’t qualify for Instacash with your linked external bank account, you can still qualify. Simply sign up for a RoarMoneySM account, set up direct deposits, and unlock twice the Instacash if you deposit the funds into your RoarMoney account – up to $250!
Best of all, this service comes with free access if you are able to wait up to 48 hours for funds. Or, if you need to get fast cash now, you can pay a $3.99 Turbo fee to have your funds delivered in minutes. And while a payday lender may charge 400% interest or more on a $100 loan, Instacash advances have a 0% APR.
A RoarMoney account comes with all kinds of cool perks, such as Financial Heartbeat® monitoring, cashback rewards on everyday spending, and budgeting tools, all for just $1 per month. And there’s no credit check required for an Instacash loan either!
Visit your local bank or credit union
Of course, if 0% APR on up to $250 in just minutes isn’t your thing, you could always apply for a traditional $100 loan at your local bank or credit union. Depending on the institution, you may luck out with perks like a low-interest rate or no origination fee, which is an application processing fee.
That said, some banks don’t offer personal loans, but those that do may charge interest rates up to or higher than the national average of 12% as of March 2021. And let’s not forget about hard credit checks and the high likelihood that you will not have access to same-day funding.
Ask your boss
If you’d prefer making quick money as a traditional loan alternative, you might think to ask your boss for a $100 advance on your next paycheck. Typically, this comes at no interest or extra cost. The funds will simply be deducted from your next paycheck.
Of course, there’s no guarantee that your boss will say yes. Unlike an Instacash request with direct deposit into your RoarMoney account, your boss is likely going to say no with the exception of certain circumstances.
But if you don’t mind having a short conversation and facing the potential of being told no, it can’t hurt! You’ll never know until you ask.
Ask your family or friends
If these options for a $100 loan don’t appeal to you, another fast cash loan alternative is to source an even more “personal” loan from friends or family. While this option comes with the fewest legalities, mixing finances and friendships can be messy.
As such, it might be worth erring on the side of caution and drawing up a formal loan agreement just like you would with a bank. Outline how much you’re borrowing and jot down any interest or fees that will be charged. Write down the duration of the repayment period and stick to it.
Otherwise, you may get your money but it will be at the cost of a positive relationship with your friend or family member.
Get quick cash with MoneyLion!
When it comes to getting fast cash now, a $100 loan from MoneyLion is quick, safe, and easy. Of course, other options exist, too. But with Instacash, you can get next-day or same-day funding which will help to see you through that period between paychecks.
If you need to cover sudden expenses or just want a little extra cash for a day at the beach, Instacash can give you that at 0% APR.
And if your credit score needs some improvement, we can help you knock out two financial goals at once with a Credit Builder Loan. For just $19.99 per month, you get access to competitive rates, loans up to $1000, and monthly credit reporting!
What are the payments on a $100 loan?
When you use Instacash, the amount you borrow is automatically deducted from either your RoarMoney account or external bank account on the designated due date. If your account doesn’t have enough money to cover your funds, we’ll try again the next day until your balance is paid.
Can I get approved for a loan without credit?
Absolutely! If your bank account and identity verification check out, you can qualify for an Instacash loan with no credit pull, credit check, or adverse effect of any kind on your credit score.
What if I got denied a $100 loan?
Fortunately, MoneyLion conducts a soft credit check so your credit score will not be impacted even if your Instacash or Credit Builder loan is denied. If your external bank account is denied, you can always sign up for a RoarMoney account and try again!
How long does it take to get a $100 loan?
With regular delivery, your Instacash funds will hit your account within 24 to 48 hours at no extra cost. For guaranteed same-day funding, you can pay a $3.99 Turbo fee to receive your funds within minutes!
