Money in Hand Before Bank Processing Time

When you’re between paychecks, and your credit card can’t handle the amount you need, where are you going to find that much-needed or much-wanted cash? Emergency funds are needed, how many weeks can you wait for a bank loan application to be processed? Simpler methods can be within arm’s reach.

You could sell something you own, like a collection of books or a bicycle you don’t often ride. If you didn’t want to part with them permanently, you could try pawning the items and pay the monthly interest until you have the full loan amount—plus more interest—to get your things back.

Or you could apply for bad credit loans. These short-term loan vehicles have an application processing time that often rivals or beats those of banks, and you can qualify for a small loan much more easily. Some organisations don’t even require that you have a bank account—just a source of income.

This type of loan business exists in a highly competitive market. They charge extraordinarily high interest rates but often offer weekly payment plans, so the entire amount isn’t due all at once. You can, of course, pay in full when you get your next paycheck; most don’t charge a huge fee for early repayment.

However, read all of the fine print in the loan application and the loan terms and conditions. Don’t assume you know what’s there. Ask any and all questions to your satisfaction before signing anything. You may not like the answer, but get a solid, verifiable answer first!