Where Can I Get a Cash Advance?

Need cash fast? If you search online for fast solutions, a cash advance will likely pop up as a quick solution. Cash advances — also sometimes called payday loans — can help you bridge the gap until your next paycheck hits, and if they’re legal in your state, you likely have options both online and in person. 

It’s important to remember that cash advances are meant to be short-term solutions that help pay for small, temporary gaps. If you get a nail in your car’s tire and it needs to be replaced or a sudden bill from urgent care, those use cases make sense. But cash advances typically come with interest or fees, and repayment is often due on your next payday. 

In this post, we’ll discuss seven options for online cash advance lenders, what to keep in mind when choosing a cash advance, and alternatives that may be a better fit for what you need.

MoneyLion offers a service to help you find personal loan offers. Based on the information you provide, you can get matched with offers for up to $100,000 from our top providers. You can compare rates, terms, and fees from different lenders and choose the best offer for you.

7 Online Cash Advance Options

If you’re considering cash advance options, we’ve compiled a list of reputable lenders that have relatively low fees, predominantly online processes, and solid reputations within the industry. Here’s a quick breakdown: 

1. Advance America 

Advance America can offer as fast as same-day funding with their cash advance program. They have over 800 locations if you prefer in-person, but they also offer a fully online application. You’ll need to repay the loan in two to four weeks, but it’s a quick process if you need funds fast.  

Borrowable amount: Dependent by state

Fees and APR: Typically around $15 for every $100 borrowed, but varies according to state regulations 

2. Varo 

Varo is an FDIC-insured mobile banking platform and app, and Varo Advance is their native cash advance feature. Requested cash advance funds are deposited directly into your Varo account, and you’ll have 30 days to pay back the cash advance. While you can only borrow up to $250 the first day you join, you can eventually receive up to $500 per cash advance. 

Borrowable amount: Up to $250 first day, up to $500 if certain criteria is met 

Fees and APR: No interest; flat fees range from $1.60 to $40 

3.  Dave

Dave is a digital banking platform, and members can borrow up to $500 if eligible without any interest or late fees. The funding will be deposited directly into your Dave checking account, so funding can be quickly. Compared to traditional payday loans, this may offer financial flexibility without high fees. 

Advance amount: Up to $500

Fees: No interest or late fees; Dave’s platform $5 monthly membership and express transfers have a 1.5% fee

4. FloatMe 

FloatMe is a solid option if you only need up to $50 for your first withdrawal. These are interest-free cash withdrawals that can help if you only need a little extra while waiting on your paycheck. You’ll need to download and use the mobile app for these cash advances, but they can be sent directly to your debit card for your convenience. 

Borrowable amount: $50 between paychecks; some existing eligible members may be able to request up to $100

Fees and APR: Monthly $4.99 fee, and instant transfer fees from $1 to $7

5. Brigit 

Brigit is a popular cash advance app that works a little differently than some other platforms. Their platform continuously monitors your bank account activity. It alerts when you when your balance is low, and the platform can automatically send a cash advance before you overdraft. For those who want proactive overdraft protection, this can be helpful. 

Borrowable amount: Typically between $50 and $250

Fees and APR: No late fees or interest, but monthly subscriptions cost either $8.99 or $15.99 depending on your plan 

6. Tilt 

Tilt’s cash advances are quick-acting, and you can get approval in as little as three minutes. You can also receive funding quickly, especially if you’re willing to pay for an instant transfer fee. You’ll repay the balance when your next paycheck hits the account. 

Borrowable amount: Between $10 and $400 

Fees and APR: No interest or late fees; $8 monthly pricing 

7. Klover

Klover is an online budget management that offers cash advances, and it does so in an unconventional way. Instead of charging mandatory fees or interest, Klover generates revenue for its platform if users opt into its data-sharing features. Some users may be uncomfortable with this even though Klover’s terms of service are clear, while others will take the trade for quick access to no-fee cash advances. 

Advance amount: Up to $400 

Fees: No mandatory fees for a basic cash advance; express transfers may have a small fee 

Alternatives To a Cash Advance

The above lenders are all trustworthy and come with relatively low fees, but cash advances still may not always be the right fit. It’s important to make sure you fully understand what you’re agreeing to, when you need to repay a loan, and any terms that could impact the total loan cost.

Fortunately, there are other cash advance alternatives to consider. These include:

• Earned Wage Access (EWA) services: MoneyLion lets you access wages you’ve already earned but haven’t yet been paid for before your next payday. These services often have very low or no fees, and it’s often cheaper than getting loans.

• Payday alternative loans (PALs): Many credit unions offer federally regulated small-dollar loans that service as a lower-cost alternative compared to traditional payday loans or cash advances.

• Side gigs: Some of the best cash advance apps like Dave include a gig marketplace. If you have the time, completing a gig job is a debt-free way to cover a temporary financial gap — and it can even open doors to a lucrative side business over time.

• Credit cards: If you have a credit card, using it to cover purchases or even take a credit card cash advance may have lower interest rates than higher-cost cash advances or payday loans. However, this is still a form of high-interest debt, so use credit cards and their cash advances mindfully. 

FAQs

• What is a cash advance? A cash advance is a short-term loan that lets you borrow a small amount of money (often between $50 and $500, depending on your state’s regulations) to cover expenses until your next paycheck. It’s sometimes used interchangeably with the term “payday loans.” 

• Where can I borrow money immediately that’s legitimate? There are legitimate cash advance platforms that offer fast or even immediate access to funds. Look for cash advance platforms with low or minimal fees, and try to avoid predatory payday loans that can keep you trapped in a cycle of debt.

• Can I get a cash advance with bad credit? Yes, you can often get a cash advance with bad credit, as cash advances and similar products look at income than your credit score. 

Photo Credit: Shutterstock.com/Liudmila Pleshkun