How to Get a $200 Loan Fast
Sometimes, you may need money urgently to cover sudden expenses. For such situations, a $200 loan from Cash Loans Bear can provide a quick fix. You’re welcome to apply online via the website 24/7 and get approved in minutes. Our simple loan process and relaxed eligibility criteria make it possible to receive the money you need today, even with bad credit.
What Is a $200 Loan?
A $200 loan is a fast cash loan people use for financial emergencies. These products provide you with a lump-sum deposit that you need to repay with interest over a set period ranging from a few weeks to several months.
$200 loans usually involve no credit check via major credit bureaus. This way, you can get an instant approval decision based on your income and payment history, not your credit score. Approved borrowers usually receive their loan funds via a direct deposit in a bank account within 1 business day.
How to Apply for a $200 Loan Online?
An online loan application process is always fast and straightforward with Cash Loans Bear. Here are 3 simple steps to take to request a $200 loan from us:
- Fill out an application form. It’s available online on our website 24/7 and can be completed in just 5 minutes.
- Get approved. Your application details will be reviewed quickly via a soft credit check. You will get a loan decision by email in about 15 minutes.
- Receive the funds. If approved, read your loan offer to ensure the terms suit you. If everything is fine, e-sign the loan agreement. The money will be deposited into your active bank account on the same or the next day, depending on the approval time.
$200 Loan Options
There are several ways to get money quickly, even with bad credit. Take a look at the most commonly used options for $200.
Payday Loans
A payday loan is a short-term loan that is repaid in one lump sum by a borrower’s next paycheck, typically in 2 to 4 weeks. This loan is designed for small, unexpected expenses and comes with a fast money transfer within 24 hours. While being lifesaving in an emergency, a $200 payday loan may come with very high APRs that exceed 300%. Still, its short repayment period makes it relatively affordable.
Personal Loans from Online Lenders
Online direct lenders often offer small personal loans of up to $10,000 that are repaid in affordable installments over 2 to 60 months. Although most of them come with a minimum loan amount of $500 or $1,000, you can still find some options for $200, too. The repayment flexibility allows you to handle a personal loan with no financial pressure. Just keep in mind that a longer repayment period often results in a higher total loan cost.
Credit Card Cash Advances
A credit card cash advance is when you withdraw money from your credit card within an available credit limit without any preliminary application or verification. This option may be handy if you need money fast. However, you should repay it as soon as possible. Interest rates on credit card cash advances accrue from the moment you get cash, with no grace periods offered. They are also higher compared to APRs on your regular credit card purchases.
Credit-Builder Loans
As the name suggests, credit-builder loans are options designed to help people establish or improve their credit. With these loans, you won’t get the money right in your hands. Instead, you need to make your loan payments upfront while the lender keeps your funds in a savings account. Each of your on-time payments is reported to credit bureaus, gradually improving your FICO rating. After the repayment period ends, you will be able to access the money.
Pawn Shop Loans
With a pawn shop loan, you need to pledge some of your valuable assets to receive the money. Then, the pawnbroker retains your belongings while you get a portion of its market price in cash. The repayment usually needs to be made over 30 to 60 days. Once you repay the amount borrowed plus interest, you can get your item back. If you fail to pay off the loan, the pawnbroker can sell your asset to recoup losses.
Title Loans
Title loans are borrowing options secured by your vehicle’s title. Unlike pawn shop loans, you don’t need to leave your car to a lender and can still drive it while repaying the money borrowed. You can typically get up to 50% of your car’s market value and need to pay the loan back within up to 30 days. If you default on your loan, the lender can repossess your car.
Cash Advance Apps
Loans from cash advance apps allow you to obtain a portion of your future paycheck upfront, often without paying any mandatory fees. You can typically borrow amounts between $50 and $500 and repay the funds with your next paycheck. Apps can help you get much-needed assistance while saving money on interest. However, you may be asked to pay extra fees for same-day funding or monthly membership.
Can I Get a $200 Loan with Bad Credit?
Sure! $200 loan options offered by Cash Loans Bear don’t require you to have good credit to qualify. We only run a soft credit check that shows us how likely you are to repay your loan. This inquiry doesn’t affect your credit score and evaluates your overall financial stability and payment history. We set no minimum credit score requirements to make our loans available to those who need them most.
Alternatives to $200 Loans
If you need $200 for an emergency but don’t want to go into debt, here are a few ways you can obtain the needed amount.
Sell Unused Items
Look around and find some items you don’t need anymore. It may be anything, from an old CD player to books, electronics, or even clothes. Then, sell this stuff at Facebook Marketplace, eBay, or Craigslist. This can help you get the needed amount and declutter your home from unneeded things you keep out of habit.
Borrow from Your Family
Loans from family members or friends might be more personalized and flexible as you will borrow from people who care about your situation. This is also a good way to save money on interest. Just set a specific due date and stick to it so as not to ruin the relationship with your loved ones.
Find a Side Gig
Freelance or part-time jobs can be a great way to spend your spare time while making more money. If you have some specific skills, try things like designing or copywriting. You can also become an Uber driver or take surveys for money. Websites like Airtasker and FreeCash can also help you earn up to $1,000 per month by completing simple tasks.
Donate Plasma
You can make about $50 to $800 or even more every time you donate plasma. The entire process typically takes about 2 hours and can be done two times every 7 days after your donations are tested and proven to be safe. Just note that this option may not suit everyone. Plasmapheresis comes with several contraindications regarding your health and requires some preparation in advance. Therefore, you need to consult your physician first.
Ask for a Paycheck Advance
Some employers may offer a paycheck advance to support their staff in case of unexpected expenses. This way, you may get a portion of your next paycheck upfront without paying any fees. The amount you take out will be deducted from your next salary. This option may be a great alternative to $200 loan solutions.
5 Tips for Improving Your Finances
Sometimes, the right money strategy can help you avoid debt, even when unexpected expenses arise. Here are some ways to reach a better financial future.
Build an Emergency Fund
An emergency fund is a financial cushion that supports you in unplanned life situations, be it an unpredictable expense or a sudden job loss. Start small, but make it a habit to set aside a comfortable amount each time you receive your wage. Open a separate savings account so as not to spend this money on something else. It’s recommended to save 3 to 6 month’s worth of your regular expenses.
Create a Budget
Budgeting is key when it comes to your financial health. To get started, list all your mandatory expenses, including rent or mortgage payments, utilities, gas, grocery bills, and any loan payments you make on a monthly basis. Then, distribute your income over these categories and don’t forget about savings and investing. Make sure you live within your means and find areas where you can cut back.
Increase Your Income
As the world goes digital, you can find ways to earn more money from the comfort of your home, even if you don’t have any specific skills. Websites like Survey Junkie allow you to take surveys for money, while platforms like JumpTask pay for completing simple tasks like watching videos or writing reviews. If you already have skills in some areas, consider making it your hobby that brings you money. Search for a side gig or a freelance job at Fiverr or Upwork.
Reduce Debt
If a significant portion of your income goes toward paying debts, try to find ways to reduce them. List all the loans and credit accounts you have and start by closing the one with the highest interest rate. Look at your budget and find some areas where you can cut back. Then, put these extra funds toward paying off debts. Alternatively, you can consider a debt consolidation loan. This option replaces all your current debts with one with a single payment. This simplifies finances and often results in a lower monthly payment and total loan cost.
Start Investing for the Future
Even small contributions can make a difference in the long run when you invest wisely. Learn more about investing and choose the option that seems suitable for you. Evaluate its risk level and make sure it fits your goals. Then, set a realistic budget, decide on the investment strategy, and create an account on a reliable platform. You can talk to professional investors and ask them for advice or educate yourself via the Internet.
Get instant approval for a $200 loan and cover your emergency today!
FAQ
Cash Loans Bear doesn’t charge any application fees. However, origination fees of up to 10% may be charged in some states. You may also face late or NSF fees if you miss your loan’s due date. All the terms will be clearly outlined in your loan agreement, so you will know what you’re going into before signing a loan contract.
A $200 loan can work for you if you face a small financial emergency that can’t wait until your next paycheck. This often includes car repairs, minor home improvements, buying gas or groceries, or covering medical bills.
We accept alternative income sources as long as they are regular and you can verify them. If you’re not officially employed, provide your bank statements or a 1099 form so we can see your income is high enough to repay the loan on time.
At Cash Loans Bear, we set no minimum credit score requirements. You can qualify for a loan with poor or no credit as long as you have a stable source of monthly income and a satisfactory payment history.
You can do this right here on the website. Just fill out our online application form in 5 minutes and receive a $200 loan instant approval decision. If a loan is not your option, ask your family for help or sell some items you don’t use.