Best $700 Loans in 2026: Compare Options and Save
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- Compare rates and terms for $700 loans from multiple lenders.
- See which lenders accept bad credit or no credit check.
- Find the most affordable $700 loan option in minutes.
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Looking for a 700 dollar loan? Unexpected expenses hit hard, from car repairs and medical bills to overdue utility payments. The good news: you have several options for borrowing $700, even with less-than-perfect credit.
Before you commit, here's what you should know: smaller loan amounts often come with higher interest rates, shorter repayment windows, and extra fees. A $700 personal loan might cost you $6 in interest over 30 days, while a payday loan for the same amount could cost $105 or more.
Take a few minutes to compare your options below. The right choice depends on your credit, how fast you need the money, and how quickly you can pay it back.
Where to Get a $700 Loan
Wondering how to get a 700 dollar loan? It starts with understanding your options. Here's where to look depending on your credit profile and timeline.
Compare $700 Loan Offers Instantly
- See only the loans available in your state.
- Compare rates and terms from multiple lenders at once.
- Find out which lenders you qualify with before you apply.
Now that you know why comparing offers matters, let's look at the most common $700 loan options.
Personal Loans:
A personal loan is often your best bet if you have fair to good credit and want predictable monthly payments. Many online lenders offer personal loans starting at $500 to $1,000, with APRs ranging from about 8% to 36%.
Consider this option if:
You can afford monthly payments over several months.
You want a lower interest rate than credit cards typically offer.
You prefer a fixed repayment schedule.
Payday Loans:
Payday loans provide fast funding, sometimes within hours. Lenders like Advance America offer same-day cash at physical locations.
The tradeoff is steep: payday loan fees typically run $10 to $30 per $100 borrowed, which translates to APRs of 200% to 600% depending on your state. About 87% of payday loan borrowers already have existing loans when they apply, so the debt cycle risk is real.
If you decide to go this route, consider checking our page on direct payday loan lenders to compare reputable options.
This might be for you if:
You need the money immediately and have exhausted other options.
You're confident you can repay the full amount by your next paycheck.
You understand the high costs involved and have a plan to avoid a debt cycle.
Credit Card Cash Advances:
If you have available credit on your card, a cash advance gives you instant access to cash at ATMs or bank branches. No application or credit check needed.
What does it cost?
Interest starts accruing immediately, typically at 25% to 30% APR (higher than your regular purchase rate).
Most cards charge a cash advance fee of 3% to 5% of the amount withdrawn (minimum $10). On $700, that's $21 to $35 upfront.
No grace period on cash advances, unlike regular credit card purchases.
Despite these costs, a credit card cash advance might still be cheaper than a payday loan if you can repay it quickly. It's best suited for short-term cash needs when you have a plan to pay it back within a few days or weeks.
Consider this if:
You can repay the amount quickly to minimize interest charges.
Your card's cash advance APR is lower than other loan options.
You don't want to go through a new application process.
Peer-to-Peer (P2P) Lending:
Platforms like Prosper and LendingClub connect borrowers directly with individual investors. P2P lending can offer competitive rates for $700 loans, especially if you have decent credit. Approval is typically fast, with funds arriving in 1 to 5 business days.
Keep in mind:
Potentially lower interest rates than traditional loans.
Funding typically arrives within 1-5 business days.
Credit check required, which may impact your score.
Origination fees may apply (usually 1-5% of loan amount).
This could be a good choice if:
You have a good credit score and want competitive interest rates.
You're comfortable with an online lending process.
You prefer a more personalized lending experience.
Pawn Shop Loans:
Pawn shops offer quick cash in exchange for valuable items as collateral. These loans can provide immediate funding, often within minutes of appraising your item.
The process is straightforward: you bring in your item, get it valued, and receive a loan based on a percentage of its worth.
However, be aware that interest rates can be high, and you risk losing your item if you can't repay the loan. If you're considering this option, it's crucial to understand the terms and have a solid plan for repayment.
Consider a pawn shop loan if:
You have a valuable item you're willing to use as collateral.
You need cash immediately and have limited other options.
You're confident you can repay the loan within the specified timeframe (usually 30 to 90 days).
You understand the risk of losing your item if you default on the loan.
Family or Friends:
Borrowing from family or friends can be a quick and potentially cost-effective way to get $700. This option often comes with more flexible terms and lower (or no) interest rates compared to formal lending institutions.
However, mixing money with personal relationships can be tricky. It's crucial to treat this as a formal loan to avoid misunderstandings and potential damage to your relationships. Consider using a written agreement to clarify terms.
Consider this route if:
You have a trusted relationship with someone who can afford to lend.
You're willing to formalize the agreement to protect your relationship.
You can commit to a repayment plan and stick to it.
How Much Does a $700 Loan Cost?
Understanding the real cost of borrowing $700 is important before you sign anything. Whether you need a 700 dollar loan today or can wait a few days for better terms, here's how different loan types compare for a 30-day, $700 loan:
Cost Comparison for a $700 Loan (30-day term)
| Loan Type | Typical APR | Estimated Fees | Total Repayment | Cost of Borrowing |
|---|---|---|---|---|
| Personal Loan | 8%–36% | $0–$35 | $705–$742 | $5–$42 |
| Payday Loan | 200%–600% | $70–$210 | $770–$910 | $70–$210 |
| Credit Card Cash Advance | 25%–30% | $21–$35 | $735–$749 | $35–$49 |
| Pawn Shop Loan | 100%–240% | $0 | $758–$840 | $58–$140 |
| P2P Loan | 8%–36% | $7–$35 (1%–5%) | $712–$742 | $12–$42 |
| Credit Union (PAL) | Up to 28% | $0–$20 | $716–$736 | $16–$36 |
APR alone doesn't tell the full story for short-term loans. Always calculate the total cost of borrowing, including fees, before you commit. A personal loan with a 20% APR and no fees will cost less over 30 days than a payday loan with a flat $15 per $100 fee.
What Do You Need to Qualify?
Qualifying for a $700 loan depends on the type of loan you're seeking and the lender's specific requirements.
Credit History — Personal loans typically need a score of 580+, though some lenders accept lower. Payday loans rarely check credit.
Proof of Income — Pay stubs, bank statements, or tax returns showing you can repay the loan.
Active Bank Account — Required for electronic fund transfer. Some lenders need an account open for at least 90 days.
Government-Issued ID — Driver's license, state ID, or passport.
Age Requirement — Must be 18+ in most states (19+ in Alabama and Nebraska).
Residency — U.S. citizen or permanent resident with a valid address.
Regardless of Loan Type, Be Prepared to Provide:
Contact information.
Employment details.
Monthly income and expenses.
Always read the fine print and understand the terms before accepting any loan offer. If a lender doesn't verify your ability to repay, it's a red flag – responsible lending practices protect both you and the lender.
Before you apply
Before applying, check your credit score for free. Knowing your score can help you target lenders more likely to approve your application, potentially saving you from unnecessary hard inquiries on your credit report.
Alternatives to a $700 Loan
Before you settle on a $700 loan, it's worth exploring other options that might solve your financial need without taking on debt:
Negotiate with Creditors: If you're facing a bill you can't pay, call the creditor directly. Many offer hardship programs, payment plans, or will reduce the amount owed.
Sell Unused Items: That old phone, gaming console, or furniture collecting dust could net you $700 on Facebook Marketplace or Craigslist.
Pick Up a Side Gig: Rideshare driving, food delivery, or freelance work on platforms like Upwork or Fiverr can add up fast.
Credit Union Payday Alternative Loan (PAL): If you're a credit union member, ask about PALs. These loans are capped at 28% APR, with amounts from $200 to $1,000 and up to 6 months to repay.
Community Assistance: Local charities, churches, and United Way 211 sometimes offer emergency grants or zero-interest loans.
0% APR Credit Card: If you have a card with a promotional 0% APR offer, use it instead of a high-interest loan. Just pay it off before the promotional period ends.
Employer Cash Advance: Some employers offer paycheck advances at no cost. Apps like Earnin and Dave work similarly but with small fees or tips.
Think of solutions
Remember, the best solution isn't always a loan. Sometimes, creative problem-solving can lead to better outcomes for your long-term financial health.
How a $700 Loan Affects Your Credit
The impact of a $700 loan on your credit score depends on the type of loan and how you manage it:
Personal Loans and P2P Loans: Can positively impact your credit if payments are made on time. They add to your credit mix and payment history.
Payday Loans: Typically don't affect your credit score unless you default.
Credit Card Cash Advances: Can negatively impact your credit utilization ratio, potentially lowering your score.
Pawn Shop Loans: Generally don't affect your credit score.
Frequently Asked Questions
Can I get a $700 loan with bad credit?
Yes. Many online lenders and payday lenders offer $700 loans to borrowers with bad credit (below 580 FICO). Be wary of any lender advertising "guaranteed approval" for 700 dollar loans, as legitimate lenders always assess your ability to repay. You'll likely pay higher interest rates, typically 200% to 600% APR for payday loans or 20% to 36% for bad credit personal loans. Credit unions also offer Payday Alternative Loans (PALs) to members regardless of credit score, capped at 28% APR.
How quickly can I get a $700 loan?
It depends on the loan type. Payday loans and pawn shop loans can provide cash within hours, sometimes the same day. Personal loans from online lenders typically fund within 1 to 3 business days after approval. P2P lending platforms usually take 3 to 5 business days. Credit card cash advances are instant if you already have the card.
What's the typical interest rate for a $700 loan?
Rates vary widely by loan type and your credit profile. Personal loans range from about 8% to 36% APR as of 2026. Payday loans typically carry 200% to 600% APR depending on your state's regulations. Credit union PALs max out at 28% APR. Credit card cash advances usually run 25% to 30% APR.
Do I need collateral for a $700 loan?
Most $700 loans are unsecured, meaning no collateral needed. Personal loans, payday loans, and P2P loans don't require collateral. The exception is pawn shop loans, where you put up a valuable item. Secured loans sometimes offer lower rates, but you risk losing your collateral if you can't repay.
How long do I have to repay a $700 loan?
Repayment terms depend on the loan type. Payday loans are due by your next paycheck, usually 2 to 4 weeks. Personal installment loans offer 3 to 24 months. Credit union PALs give you 1 to 6 months. P2P loans typically range from 3 to 5 years, though shorter terms are available for smaller amounts.
Will taking out a $700 loan affect my credit score?
It depends on the loan type and whether the lender reports to credit bureaus. Personal loans and P2P loans can help build credit when you make on-time payments. Payday loans typically don't affect your score unless you default. Credit card cash advances increase your utilization ratio, which can lower your score. Applying for loans usually triggers a hard inquiry, which temporarily drops your score by a few points.
Are there alternatives to getting a $700 loan?
Yes. You can negotiate payment plans with creditors, sell unused items, pick up gig work, ask your employer for a paycheck advance, or apply for a credit union Payday Alternative Loan (PAL). Local charities and community organizations sometimes offer emergency grants or interest-free loans through programs like United Way 211.
How can I ensure I'm getting the best deal on a $700 loan?
Compare offers from at least 3 to 5 lenders before committing. Look beyond the APR and check for origination fees, prepayment penalties, and late payment charges. Use a loan comparison tool to see multiple offers side by side. Read all terms carefully and avoid lenders who don't verify your ability to repay.
How can I get $700 right now?
The fastest options for getting $700 today include payday loans (often funded same day), credit card cash advances (instant at any ATM), and pawn shop loans (cash within minutes). For slightly longer timelines, online personal loans can fund within 1 to 2 business days. Cash advance apps like Earnin or Dave can help with smaller amounts, but you may need multiple sources to reach $700.
Where can I borrow $700 with no credit check?
Pawn shop loans and some payday lenders don't require credit checks. Title loan companies also skip traditional credit checks but require your car as collateral. Credit unions may offer small loans based on your membership history rather than credit score. Be cautious with no-credit-check lenders, as they often charge significantly higher fees to offset the risk.