In cases of emergency and under the pressure of coming up with a certain amount of money, there is a special loan, which provides the money, in less than 24 hours. And, as everything has its price in life, this is no exception to the rule. These kinds of loans are not precisely cheap, when it comes to the interest rate. You need to think thoroughly before recurring to this solution as an ultimate anchor and savior. All that is needed in terms of documentation is a proof of a steady job, with a proper income, as well as a bank account for the money to be deposited in. This can be done even online or over the phone, and in most of these loans, there are no credit checks. The approval process is greatly accelerated, due to this, as credit verification usually takes time. So, even with bad credit, or no credit, you are eligible.

However, the problem with this straight forward loan is the very high interest rate, as the risk here is very high, too, lender having no idea of the credit’s worthiness, and thus there is always the risk of the borrower not paying back. As a means of compensation, the lender charges a high interest rate, in the form of a fee, payable along with the loan. You will be offered only small amounts, sometimes insufficient, almost never exceeding the limit of 2000$, which is, in any case, better than nothing.

Pay day loans and cash advance loans are two prime examples. These loans can be issued within 24 hours, and usually require nothing more than a proof of a job, some credit, and a checking account.