$100 Loans

Finding yourself in need of a quick $100 can be stressful, but don't worry – you're not alone. Whether it's an unexpected bill, a minor car repair, or just making ends meet until payday, many Americans face this situation.

And this is where you can count on Financer to help you. We won't lend you this $100, but we'll help you compare the available offers and find the leading lenders for your situation.

We've analyzed dozens of lenders and their offers to be able to instantly show you options based on your location, credit profile, and financial needs.

Options to Get a $100 Loan

You have many alternative ways to get the $100 you need. Even if some options haven't worked out, we'll guide you through some effective shortcuts.

Payday Loans

The most common option for $100 loans is a Payday Loan. These are short-term, high-cost loans typically due on your next payday, usually within 2-4 weeks.

Designed for emergencies, they have lenient requirements, making them accessible even with bad credit.

However, the significant drawback is their high APRs, often exceeding 300%, with a typical cost of $15-$30 for every $100 borrowed.

Consider a Payday Loan if

• You need money as soon as possible and cand repay it on your next payday

• You understand the high cost and can avoid a debt cycle

• You have poor credit and can't access more affordable options

Cash Advance Apps

For $100 loans, the newer option in the financial technology space are the cash advance apps. They can provide small, short-term loans, often with more favorable terms than traditional payday loans.

These are also designed for repayment on your next payday, making them similar to payday loans.

Personal Loans

While many personal loans are for larger amounts, some lenders offer small personal loans starting at $100. These can be a good option if you need more time to repay than a payday loan allows.

What to Know About Small Personal Loans

• Interest rates typically range from 6% to 36% APR, based on credit score

• Repayment terms are usually 1 to 12 months for small amounts

• May require a credit check, impacting approval and rates

• Some lenders offer same-day or next-day funding

Credit Union Payday Alternative Loans (PALs)

If you're a member of a federal credit union, Payday Alternative Loans (PALs) can be an excellent option. These small, short-term loans are designed to help you avoid the high costs of traditional payday loans.

Key Features of PALs

• Borrow $100 to $2,000

• Interest rates capped at 28% APR

• Loan terms from 1 to 12 months

• No rollovers, helping you avoid debt traps

If you're not a credit union member, consider joining one. Many have relaxed their membership requirements, and the potential savings on small loans like this can be substantial.

Credit Card Cash Advances

If you have a credit card, a cash advance can be a quick way to get $100. However, this option comes with significant drawbacks that you should consider carefully.

Cash Advance Considerations

• High interest rates, often 24% APR or higher

• Interest begins accruing immediately, no grace period

• Additional cash advance fees, typically 3-5% of the amount

• Can negatively impact your credit utilization ratio

Understanding the True Cost of a $100 Loan

Before taking out any loan, it's crucial to understand the total cost. Let's compare the potential costs of borrowing $100 through different methods:

As you can see, the cost of borrowing $100 can vary dramatically. Payday Alternative Loans (PALs) and some personal loans offer the most affordable options, while payday loans can cost you significantly more.

What Do I Need To Get a $100 Loan?

Getting a $100 loan can vary depending on the lender and type of loan you're pursuing. However, most lenders will require some basic information. Here's what you'll typically need to provide:

Having these documents ready before applying can speed up the process and increase your chances of approval.