500 Dollar Loan

Don’t let a cash problem escalate further; get a quick $500 loan. Click the button below! We’ll connect you with one of several lenders in the network of our long list of partners with some information.

$2,500
Want to borrow more than $5,000? Click here!

How Do $500 Loans Work?

Even the best savers sometimes run afoul of something unexpected. Maybe an emergency room visit, a sudden visit by a plumber due to a leaky pipe, or an appliance broke down on the spot. All of these could easily run $500, sometimes even more. Finding yourself in a sticky spot such as that might mean needing to reach out for a $500 loan.

Unfortunately, obtaining such loans from traditional institutions may take more time than you have and more hurdles than you’d like to face, making it a less desirable option when you need money now.

The process to obtain a quick $500 loan through iPaydayLoans is simpler and quicker. When you find yourself strapped for cash, you can start the process by providing a few pieces of information to connect with one of several lenders. Lenders use key pieces of your information to provide approval in as fast as 5 minutes. You can get the funds almost within 24 hours. The money can be there to help you through those tough moments.

default imgWhy Us
How much can I borrow?$50-$35,000No hidden fees or charges
I have bad credit. Can I apply?YesBad credit is considered
Over how long can I spread the repayments?1-36 monthsFast decisions
Are credit checks involved?YesSoft credit checks only
Chances of getting approvalsGood256-bit encryption protocol
How to apply?Apply onlineEasy application
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I Need $500 Now, But I Have Bad Credit, Am I Still Eligible To Apply?

Circumstances vary, and when the situations become urgent, even clients with bad credit will have to apply for loans of $500 or more. Unlike a bank or credit unit, our direct lenders will work for clients with no credit or bad credit. Several bad credit loan lenders exist who work specifically with clients who find themselves in these situations.

Lenders such as these focus more on the affordability of the loan rather than on the credit score. Even if there is no credit score or a low credit score, a lender will make their final decision based on whether the borrower can afford it. This makes a source of income more important than the score.

The only downfall to no credit or bad credit is the higher interest rate associated with taking out a loan. Lenders exist who provide credit under such circumstances, but they are taking a higher risk by providing the cash.

Will There Be A Credit Check If I Apply For A $500 Loan?

Clients often don’t want to go through another credit check for different reasons, whether due to no credit, low credit, or too many recent checks. The good news is, that even though a credit check is required to obtain funding, lenders can use something called a soft credit check. This type of check won’t hurt the overall score and doesn’t dive too deep into past history.

The only hitch in this situation is a higher interest rate attached to the loan as the lender works to offset the risk they are taking. Even when obtaining a small $500 online loan, obtaining a credit check, even with bad credit, might be easier to partner with a lender on a satisfactory loan.

How To Qualify For A Quick $500 Dollar Loan?

Qualifying for a loan of $500 is a rather basic process. Start by submitting your information to connect with a long list of our lenders. Once the lender's approval is provided, the last step is getting the funding you need. Again, as mentioned, a quick and simple process, unlike traditional lenders.

The information you provide will only need to meet some basic criteria listed below.

  • At least 18 years and older
  • Steady source of income
  • Citizen or permanent resident in the U.S.
  • Working phone number and email
  • Active checking account

How much would you like?

$2,500

What Types of $500 Loans Are Available?

Most traditional reasons for taking out a loan require more funding, such as college, a home, or a car. Banks are the route most individuals take for those types of loans because of the nature of the repayment. In most cases, banks won’t even consider a smaller loan, some even making a minimum requirement of $1,000.

Fortunately, some innovative lenders provide smaller loans for various reasons.

  • Car Title Loans allow you to borrow several hundred to a couple of thousand dollars over a period of a couple of months by turning your car title into collateral. Only legal in 15 states at the moment; if this loan isn’t repaid on time and in full, you risk losing your car since it works as collateral.
  • Personal Loans normally require a higher amount borrowed, somewhere around $1,000 but depending on the lender, they might be approved for a lower amount.
  • Installment Loans mean taking out $500 in loans and making equal payments with time. The normal time frame for repayment is 30 days to six months, though that depends on the lender.
  • Quick Loans, or in other words, payday loans, is the riskier loan, though quicker to obtain. This is for those who need a quick $500 loan but have no collateral to offer and might come with a higher interest rate.

How Can You Increase Your Chances of Getting a $5k Loan?

Submit your information to partner with as many lenders as possible.

This increases the chance of getting approved, but it also provides options should more than one lender seem interested. These lenders are contacted one at a time, but your data is only offered at a time when the lender will approve the loan.

Have documentation ready with proof of steady income.

Though it is possible to obtain a loan without holding a job, there must be proof of income. Without this income to show the ability to repay the asked for amount, lenders will hesitate to approve even a quick $500 loan.

Set aside time and documentation to go through the entire process.

Around 5 minutes will be spent filling out the application, but another 15 to 20 is needed to review the terms and conditions. Make sure any other documentation you feel is necessary to provide the lender is also available to show you are a responsible borrower.

Get Cash When You Need It Most

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FAQs

I Have A Bad Credit Score - Can I Still Qualify For A 500-dollar Payday Loan?

$500 online loans care little about the actual credit scores of the applicant. Lenders don’t perform hard credit checks or look for a stable source of income as collateral. Instead, lenders perform a soft check, looking only for the overall picture of the credit score rather than the nitty-gritty.

How Long Is The Repayment Term On A Five-hundred-dollar Loan?

The loan term is anywhere from 14 to 30 days, though that will depend on the lender providing the approval. A higher amount borrowed will result in a longer repayment period, though it’s best to determine the short and long-term consequences of a longer repayment plan.

How Long Is The Process To Obtain A $500 Loan?

The length of time varies by individual information and lender, but you can get lender approval in as quick as 5 minutes once you submit your information. The lengthiest part you will have to go through as the borrower is reading through the presented material such as terms and conditions. With all the paperwork out of the way, a lender can fund the loan as quickly as the very next day.

If I Don’t Have A Current Job, Can I Still Qualify For A $500 Loan?

Yes! As long as there is a steady source of income such as child support, social security, or even inheritance. Lenders will focus more on whether the borrower is capable of covering the cost and repayment of the loan rather than on where their stable funds are coming from.

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Turn to iPaydayLoans in Your Hour of Need!

Skip the long wait and bank processing time. Reach out to iPaydayLoans to connect with one of our trusted lenders.

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iPaydayLoans is a company committed to connecting borrowers to hundreds of reputable online lenders to apply and get small-dollar payday loans quickly, easily, and securely, helping cope with life emergencies like paying medical bills, home, or car repairs, and so on.

Customer Note: A payday loan is traditionally used to help people borrow a small sum of money until the next upcoming payday. It's a short-term solution to cover unexpected expenses when people have no savings or deep pockets. Those who find themselves in a bind with their budget and want to refill it with credits should seek the advice of a professional financial assistant. A borrower also has to peruse local regulations related to a payday loan.

Availability: The service of this platform may not be accessible to people based in restricted states. Please check the local regulations to find out its availability in the area. Rules of this website are subject to change without notifications.

NOT A LENDER Disclosure: iPaydayLoans is not a lender but a broker and does not charge you any fees for our broker services. The lenders or other broker services we introduce to our customers through this website may pay us commissions if customers enter into a credit agreement with them.

Disclaimer: iPaydayLoans is not a lender, does not take applications or make loans or credit decisions. We are not an agent, representative or broker of any lender. We provide a service to connect you to a lender from our network. We do not control and are not responsible for any lender's actions or decisions.