The majority of Americans don’t have enough money saved to cover a $1,000 emergency situation.

Are you part of this group? Are you in a tight financial spot right now?

Nobody likes finding themselves in a situation where they need money and don’t have it. The good news, though, is that there are ways out of this problem.

When you need money right away, these are some of the top loans you ought to consider using.

Personal Loans

If you have a decent credit score, you can likely qualify for a personal loan without any problems. Shop around and compare options from different lenders to find the loan with the best terms and interest rates.

Don’t forget to look into online lenders, too. Many of them offer better rates than traditional lenders, and they’re willing to work with more people.

Cash Advances

You can also check to see if your credit card offers a cash advance option. This allows you to take cash from an ATM and borrow against your credit limit.

This can help you get your hands on some money quickly. It does come with a high interest charge, though.

Pawnshop Loans

If you have an item that is worth a decent amount of money, a pawnshop loan might be a good option to consider.

Pawnshop loans use your item as collateral in exchange for cash. When you repay the loan, you get your item back.

You don’t have to worry about high interest rates with this type of loan, but you do stand to lose your item if you can’t pay it back on time.

Mini Loans

You may also want to look into applying for a mini loan. Mini loans — also known as microloans — are loans for small amounts of money.

They’re a good alternative to personal loans if you don’t have the credit score to qualify for one.

Since they’re for smaller amounts, lenders who offer them are often more willing to work with borrowers who have subpar credit. 

Payday Loans

If none of these other loan options work out for you, it might be worth it to try applying for a payday loan.

Payday loans are short-term loans meant to tide you over just until your next payday (most have terms of just 2-4 weeks).

The interest rate for payday loans is quite high, so you need to have a repayment plan in place to avoid paying a ton of money in interest. They can be a viable option if you can’t qualify for anything else, though.

Try These Top Loans Today

If you’re in a jam and need to get your hands on some money as soon as possible, these are some of the top loans that are worth applying for.

As long as you have a plan in place to pay the loan off quickly, they’ll help you get the money you need without any serious issues.

Do you need help putting together a loan repayment plan? Do you want to learn about money management tips that will help you avoid finding yourself short on cash in the future?

If so, check out some of the finance articles on our site today for more advice.

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