Nearly 60% of Americans don’t have $1,000 set aside for an emergency. When the unexpected hits—like a car repair, medical bill, or a rent payment that can’t wait—finding money fast becomes the top priority.
This guide lays out clear, practical ways to borrow money quickly. We’ve covered options for people with good credit and bad credit, short-term and long-term needs, and everything in between. By the end, you’ll know which solution fits your situation best—without making things worse later.
12 Best Ways to Borrow Money Fast
When you need money quickly, the best option depends on how much you need, how soon you need it, and what your credit score looks like. Here are some of the fastest and most accessible ways to borrow—whether your credit is excellent or needs some work.
1. Personal Loan from an Online Lender
Online lenders are a popular choice when you need cash fast. Applications are quick, approval is often same-day, and many lenders work with borrowers who have bad credit. Some even let you prequalify with a soft credit check.
- Best if: You need fast approval and don’t qualify with a bank or credit union
- Loan amount: $1,000 to $50,000
- Funding speed: 1 to 3 business days (some fund same-day)
- Key tradeoff: Easy to access with bad credit, but interest rates can be high
If your credit score is low, focus on lenders that specialize in bad credit personal loans. Just watch out for high APRs, fees, or short repayment terms that can make the loan hard to manage.
2. Personal Loan from a Bank or Credit Union
If you have good credit and steady income, a personal loan from a traditional bank or credit union can offer low rates and predictable monthly payments. These loans are usually unsecured, so you won’t need to put up collateral.
- Best if: You have good to excellent credit and want a structured repayment plan
- Loan amount: $1,000 to $50,000+
- Funding speed: 1 to 7 business days
- Key tradeoff: Low rates for strong credit, but slower approval and stricter requirements
Credit unions often offer lower interest rates than banks, especially if you’re already a member. Some may even waive origination fees. But if your credit score is below average, you might not qualify—or you may only qualify for smaller amounts at higher rates.
3. Peer-to-Peer Lending
Peer-to-peer (P2P) lending platforms connect borrowers directly with individual investors instead of going through a traditional bank. These platforms often consider more than just your credit score when reviewing applications.
- Best if: You want a fast loan but don’t qualify through a bank
- Loan amount: $1,000 to $40,000
- Funding speed: 3 to 7 business days
- Key tradeoff: Flexible approval, but higher interest and fewer borrower protections
P2P loans are worth considering if your credit is average or rebuilding. Just make sure to compare platforms and read the fine print before committing.
4. Cash Advance Apps
Cash advance apps offer small, short-term loans based on your upcoming paycheck. These apps don’t charge interest, but they often request tips or have monthly fees.
- Best if: You need less than $500 to cover short-term expenses
- Loan amount: $20 to $500
- Funding speed: Instant to 2 business days
- Key tradeoff: No credit check, but limited amounts and recurring fees
These apps are convenient and low-friction, but they’re best used occasionally—not as a regular way to cover bills.
5. Personal Line of Credit
A personal line of credit lets you borrow money as needed up to a set limit. You only pay interest on the amount you borrow, which makes this option more flexible than a fixed personal loan.
- Best if: You want flexible access to funds over time
- Loan amount: $1,000 to $100,000
- Funding speed: A few days after approval
- Key tradeoff: Pay interest only on what you use, but rates are often variable
This is a solid option if you’re not sure how much you’ll need or want a backup source of funds available.
6. 0% APR Credit Card
Some credit cards offer an introductory 0% APR period on purchases or balance transfers. If you can pay off the balance during that promo window, this can be a free way to borrow money.
- Best if: You have good credit and can pay off your balance quickly
- Loan amount: Up to your credit limit
- Funding speed: Instant to 7 days
- Key tradeoff: No interest upfront, but high APR kicks in if you carry a balance
Be sure to pay attention to the length of the intro period and what the rate will be afterward. If you miss a payment or don’t pay it off in time, interest can add up fast.
7. Buy Now, Pay Later
Buy Now, Pay Later (BNPL) services let you break up purchases into smaller installments, often without charging interest. You’ll usually see these options at checkout both online and in stores.
- Best if: You need to spread out a purchase and don’t want to use a credit card
- Loan amount: $50 to $2,000+
- Funding speed: Instant at checkout
- Key tradeoff: Easy to use and interest-free if paid on time, but fees hit hard if you fall behind
BNPL can be helpful for budgeting, but missed payments can hurt your credit and lead to unexpected fees.
8. 401(k) Loan
A 401(k) loan lets you borrow money from your retirement account without a credit check. You’ll repay the loan with interest, but the interest goes back into your own account. While it may sound appealing, it comes with serious risks.
- Best if: You have no better option and feel confident you can repay it
- Loan amount: Up to $50,000 or 50% of your vested balance
- Funding speed: 1 to 7 business days
- Key tradeoff: No credit check, but risks your retirement savings and may trigger penalties
If you leave your job or can’t repay a 401(k) loan on time, the unpaid balance is considered a withdrawal. That means you’ll owe income taxes—and possibly a 10% penalty if you’re under 59½.
9. Margin Account
A margin account lets you borrow money from your brokerage to invest more than you have in your account. It can magnify gains—but it can also magnify losses just as quickly.
- Best if: You’re an experienced investor with a high risk tolerance
- Loan amount: Based on your portfolio value
- Funding speed: Same-day or next-day
- Key tradeoff: Leverages your gains, but puts your entire investment account at risk
Margin calls can force you to sell your investments at a loss if your account value drops. This isn’t a borrowing method for casual investors.
10. Cash Advance from a Credit Card
Credit cards let you withdraw cash through an ATM or bank branch, but it’s an expensive way to borrow. Interest starts immediately, and fees are charged upfront.
- Best if: You have no other option and need cash urgently
- Loan amount: Usually a portion of your credit limit
- Funding speed: Instant
- Key tradeoff: Fast access, but high fees and interest from day one
Only use a cash advance if you’re in a real bind and know you can pay it back fast. Otherwise, the costs can add up quickly.
11. Loan from Family or Friends
Borrowing from someone you trust can be one of the lowest-cost ways to get help. There’s usually no application or interest—but you’re putting the relationship on the line.
- Best if: You need help and have someone willing to lend informally
- Loan amount: Varies
- Funding speed: As fast as they can send it
- Key tradeoff: No fees or credit check, but can strain personal relationships
Set clear terms in writing so both sides are on the same page. Even a simple contract can avoid awkward misunderstandings later.
12. Pawnshop Loan
Pawnshops let you borrow money by handing over something valuable as collateral—jewelry, electronics, tools, or other high-demand items. If you don’t repay the loan, the shop keeps and sells your item.
- Best if: You need fast cash and have something valuable to put up
- Loan amount: $50 to a few thousand dollars
- Funding speed: Same-day
- Key tradeoff: No credit check, but high fees and risk of losing your item
This option works best for very short-term needs. Don’t pawn anything you can’t afford to lose.
What to Consider Before You Borrow
Before you borrow money, get clear on what you actually need. The best option depends on how fast you need the cash, how strong your credit score is, and how much risk you’re willing to take.
Short-Term vs. Long-Term Loans
Quick fixes like cash advances or payday loans can put money in your hands fast—but often come with high interest rates and short repayment windows. These are best for emergencies, not big purchases.
If you’re making a larger investment, like buying a car or launching a business, a long-term loan with a lower interest rate might make more sense. Just know you’re signing up for a longer commitment and more total interest over time.
Your Credit Score Matters
Your credit score plays a big role in what you qualify for. A good credit score usually means lower interest rates, better loan terms, and access to larger amounts. Before applying, pull your credit reports from TransUnion, Experian, and Equifax. Dispute any errors you find.
If your credit score needs work, focus on paying bills on time and keeping credit card balances low. Even small improvements can help.
Bad credit? You’re not out of luck. Some online lenders specialize in working with borrowers who have less-than-perfect credit.
Consider the Risks
Some options look easy upfront but come with strings attached. Borrowing from your 401(k) won’t hurt your credit, but it takes money out of your retirement account. A 0% APR credit card sounds like a great deal, but if you miss the payoff deadline, you could get stuck with backdated interest.
Make sure you know what could go wrong before you sign anything.
Think Beyond the Immediate Need
It’s easy to focus on getting the money fast. But the real question is—can you pay it back without blowing up your budget?
Look closely at the repayment terms. Know the monthly cost, due dates, and what happens if you’re late. A loan should help your situation, not make it worse.
Borrowing Options to Avoid
Some loans might seem like a quick fix, but they often create more problems than they solve. These options come with high costs, risky terms, or both—and are best avoided if you have better choices.
Payday Loans
Payday loans offer fast cash, but repayment is usually due in full by your next paycheck. Interest rates often top 300% APR, and rolling over the loan just piles on more fees. Many borrowers end up stuck in a cycle of debt that’s hard to break.
Auto Title Loans
Title loans let you borrow against the value of your car. If you can’t repay on time, the lender can take your vehicle—even if you’ve paid most of the loan back. The interest rates are typically high, and the risk of losing your car is real.
Tribal Loans
Some online lenders operate under tribal sovereignty, allowing them to sidestep state lending laws. While legal, many charge extreme interest rates and offer limited protections if anything goes wrong. Rates can reach 500% APR or more.
How to Pay Back a Loan Without Falling Behind
Getting the money is only half the battle—paying it back on time is just as important. Missed payments can trigger late fees, hurt your credit score, and make the loan more expensive than it needs to be. Here’s how to stay ahead of your repayment schedule.
Know the Terms Before You Sign
Every loan comes with its own rules. Make sure you understand how much is due, when payments are scheduled, and whether there’s a grace period for late payments. Don’t assume anything—read the terms and ask questions if anything is unclear.
Set Up Auto-Pay
Automated payments help you avoid missed due dates and late fees. If your lender allows it, turn on auto-pay from your checking account or debit card. You can still check in each month, but automation takes one task off your plate.
Build Loan Payments Into Your Budget
Before you borrow, adjust your monthly budget to include the loan payment. If the numbers don’t work, it’s better to know now—not after the first bill hits. Make sure you can cover the monthly amount without relying on more debt.
Final Thoughts
The best way to borrow money depends on your credit score, how much you need, and how fast you need it. Some options are better for short-term needs, while others work best for bigger expenses with longer repayment periods.
Whichever option you choose, make sure you can afford to repay it—and take steps to avoid borrowing again in the future. Building an emergency fund, even a small one, can help you handle life’s surprises without turning to high-cost loans.
