7 Best $100 Loan Instant Apps

The concept of $100 instant loan apps has gained significant popularity in recent years. These apps provide a quick and convenient way for individuals to access small loans, often without the need for a credit check.

$100 instant loan apps work by providing small, short-term loans to users. The process typically involves downloading the app, creating an account, and linking a bank account. Some apps may require proof of income or other qualifying criteria.

Based on fees, speed of funding, and qualifying needs, I’ve put together a simple guide to the best instant loan apps out there. This list gives you a quick look at your top options for quick cash when you need it.

$100 Loan Instant Apps

Earnin

Earnin is ideal for individuals with a steady paycheck looking for a low-cost way to access funds they’ve already earned. The app’s flexibility and lack of mandatory fees make it an attractive alternative to traditional payday loans.

However, it’s essential to be mindful of the tipping model and the need for regular employment verification.

Earnin’s innovative features like Balance Shield and Earnin Express enhance its appeal, offering users additional financial security and convenience.

Subscription Model and Fees

Earnin is free to use, with no mandatory fees or interest on cash advances. However, users have the option to leave a tip for the service, with suggested tip amounts ranging from $0 to $14 per transaction.

If users opt for the Lightning Speed feature, which provides instant access to funds, there’s a fee of $3.99. The app includes additional features like Balance Shield for low balance alerts and Earnin Express for faster paycheck access​​​​​​​​.

Pros:

• Access to cash advances based on hours already worked, up to $750 per pay period.
• No mandatory fees or interest charges; operates on a tipping model.
• Balance Shield feature to prevent overdrafts.
• Earnin Express offers higher cash advance limits and faster paycheck access.

Cons:

• Initial cash out limit of $100 per pay period, which can increase to $750 with responsible app use.
• Requires proof of consistent income through direct deposit.
• Usage of GPS location tracking or timesheet submissions for hourly workers.
• Tipping can add up, although it’s optional.
• Limited to those with regular employment and pay schedules.

Dave

Dave is an excellent option for those needing a small, quick loan to cover expenses until their next paycheck. Its low-cost approach to cash advances, combined with job suggestions and cash-back rewards, makes it a beneficial resource for many.

However, potential users should consider the express delivery fees and the quick repayment schedule, as well as some reported user experiences with the app’s functionality and customer service, before deciding to use the service.

Subscription Model and Fees

Dave requires a $1 monthly membership fee to access its services, including the cash advance feature. Express delivery of funds is available for a fee ranging from $1.99 to $13.99, depending on the transfer amount and destination.

Standard delivery, which takes up to three business days, is free. Users are also provided with gig job suggestions through the Side Hustle feature and can earn cash-back rewards​​​​.

Pros:

• Up to $500 in cash advances without interest or late fees.
• Low monthly membership fee.
• Offers additional features like Side Hustle and cash-back rewards.
• No credit check required for cash advances.

Cons:

• Fees for express fund delivery.
• Repayment due quickly, typically by the next paycheck.
• Some user complaints about app functionality and customer service.

Brigit

For those in need of a small financial boost, Brigit provides a convenient solution. This app caters to employed individuals who might occasionally find themselves short on funds before payday.

Its primary offering is a cash advance of up to $250, which can be a lifeline for covering unexpected expenses or avoiding overdraft fees.

Brigit is an ideal choice for those who need a modest sum to navigate short-term financial gaps. Its straightforward approach to cash advances, combined with additional financial management tools, makes it a valuable resource for many.

However, it’s essential to weigh the cost of the monthly subscription against the potential benefits, especially if you anticipate infrequent use of the service.

Subscription Model and Fees

With Brigit, the monthly fee encompasses access to cash advances and other financial tools. The express fee is applicable if you need an instant cash transfer, but regular cash advances typically don’t carry extra charges​​​​​​.

Pros:

• Access to cash advances up to $250 without interest or late fees.
• Overdraft prediction alerts.
• No impact on credit scores.

Cons:

• Monthly subscription fee required for cash advance service.
• Limited to individual bank accounts, excluding joint accounts.
• Primarily email-based customer support.

FloatMe

FloatMe offers a streamlined solution for those needing a small financial boost between paychecks. This app is best suited for individuals who require modest cash advances to manage short-term financial needs.

FloatMe’s main feature is its cash advance service, known as Floats, capped at a maximum of $50.

However, the limited advance amount and the monthly membership fee are important factors to consider. Additionally, FloatMe’s cash advances don’t contribute to building credit, which might be a drawback for some users.

Subscription Model and Fees

FloatMe charges a monthly membership fee of $1.99. For cash advances, there’s no interest or tipping required. Advances can be delivered instantly for a fee, which varies depending on the amount, or within 1 to 3 business days at no extra cost.

Pros:

• Provides cash advances up to $50 without interest.
• No late fees or tips required.
• Features like overdraft alerts and automatic savings.
• Fast funding options available.

Cons:

• Monthly membership fee.
• Limited maximum advance amount of $50.
• New users may initially access only $10 to $30.
• No credit-building potential as FloatMe doesn’t report to credit bureaus.

MoneyLion

MoneyLion offers a versatile cash advance solution tailored for individuals in need of quick financial assistance.

This app is ideal for those seeking larger cash advances, with a maximum limit that can reach up to $1,000 for certain members.

However, the costs associated with certain features and mixed customer feedback are factors to consider before opting for their services.

Subscription Model and Fees

MoneyLion’s Instacash service provides cash advances starting from $25, with a potential to increase up to $500 or even $1,000 for RoarMoney members or those with a Credit Builder Plus membership.

The app offers instant deposit options for a variable fee, depending on the amount borrowed. MoneyLion stands out with additional financial services such as credit builder loans, investment accounts, and a unique rewards system called “Shake ‘N’ Bank”.

Pros:

• High maximum cash advance limit, especially for RoarMoney and Credit Builder Plus members.
• No interest or mandatory fees on cash advances.
• Additional financial tools like credit building and investment options.
• Rewards program for engaging with the app and making qualified purchases.

Cons:

• Monthly membership fee for Credit Builder Plus and potential fees for instant deposit.
• Complex structure with multiple tiers and services that might be confusing.
• Mixed customer reviews, with some complaints about customer service and app functionality.

Albert

Albert app is particularly beneficial for individuals who occasionally need a quick cash infusion before their next paycheck.

Albert’s standout feature is its cash advance service, providing up to $250, which can be essential for managing unexpected costs or averting overdraft charges.

However, the cost of the Genius subscription and some reported customer service issues should be considered before committing to the service.

Subscription Model and Fees

Albert requires a Genius subscription, costing $14.99 per month, to access its full range of services, including the cash advance feature. The subscription also includes access to savings and investment tools, as well as personalized financial advice. Cash advances are available instantly for a nominal fee or within two to three days at no extra charge​​​​​​.

Pros:

• Cash advances up to $250 with no interest.
• No monthly service fees for basic banking and savings services.
• Cash-back rewards and early paycheck access.
• Diverse financial services, including investment options.

Cons:

• Genius subscription required for full feature access, including cash advances.
• No mobile check deposit and app-only accessibility.
• Customer service limitations, primarily digital communication.
• Some user dissatisfaction with subscription cancellations and customer support.

Empower

Empower is suitable for those needing occasional cash advances and a variety of financial management tools in one platform. Its straightforward approach to cash advances, paired with other features like AutoSave and budget tracking, makes it a versatile resource.

However, the cost of the monthly subscription and reported customer service issues are factors to consider before choosing this service.

Subscription Model and Fees

Empower’s cash advance feature requires an $8 monthly membership fee, which also includes access to other financial management tools like AutoSave and budget tracking.

The app provides instant funding options for a fee, but standard transfer to an Empower checking account is available without extra charges. Users are given the option to leave a tip for the service, although it’s not mandatory​​​​​​​​​​.

Pros:

• Instant cash advances up to $250 without interest or late fees.
• Additional financial management tools and features.
• No minimum balance or overdraft fees for Empower Card users.
• Cash-back rewards on Empower Card purchases.

Cons:

• Monthly membership fee of $8.
• Some users report issues with customer service and app functionality.
• Limited to instant delivery to an Empower checking account.
• Complaints about billing errors and unexpected charges.

Use Instant Loan Apps Wisely

The convenience and accessibility of $100 instant loan apps are undeniable. However, it’s crucial to use these apps wisely to avoid falling into a cycle of debt and financial stress.

Here are some guidelines to help you navigate these apps responsibly:

1. Evaluate Your Financial Necessity: Before taking an instant loan, assess if the expense is urgent or can be deferred. Loans should primarily be used for emergencies or unavoidable expenses, not for discretionary spending.
2. Understand the Terms and Conditions: Each app has its unique terms, fees, and repayment schedules. Make sure you fully understand these details to avoid unexpected charges or penalties.
3. Plan for Repayment: Have a clear plan for repayment before borrowing. Ensure that your future income can cover the loan and any associated fees without compromising your regular expenses.
4. Use as a Last Resort: Consider instant loan apps as a last resort, not a regular financial tool. Explore other options like savings, selling unneeded items, or borrowing from friends or family first.
5. Beware of Overuse: Relying too frequently on these apps can lead to a dangerous cycle where each subsequent loan covers the shortfall caused by the previous one. This can lead to chronic financial instability.
6. Budgeting and Emergency Funds: Use these experiences as a wake-up call to start budgeting and building an emergency fund. Apps offering budgeting tools can be particularly helpful in managing your finances better.
7. Seek Financial Advice: If you find yourself repeatedly needing instant loans, it may be beneficial to seek financial counseling. Many non-profit organizations offer free or low-cost financial advice.
8. Monitor Your Credit Score: While some apps don’t affect your credit score, others might. Understand the impact of your borrowing habits on your credit history, especially if you’re considering larger loans in the future.
9. Avoid Multiple Loans: Taking loans from multiple apps simultaneously can quickly become overwhelming and unmanageable. Stick to one loan at a time to keep your finances in check.
10. Read User Reviews and Research: Before downloading any app, read user reviews and conduct thorough research. This can provide insights into the app’s reliability, customer service quality, and any hidden issues.

Pros and Cons of Instant Loan Apps

Pros

1. Quick Access to Funds: These apps provide immediate financial relief in emergencies. The quick approval process and instant fund transfer are ideal for urgent needs.
2. Minimal Qualification Requirements: Unlike traditional loans, instant loan apps often have minimal eligibility criteria, making them accessible to a wider range of people, including those with lower credit scores.
3. Convenience and Accessibility: The entire process, from application to receiving funds, is conducted digitally, offering unmatched convenience. These apps are accessible 24/7, unlike traditional banks.
4. Avoiding Overdraft Fees: By providing quick cash, these apps can help users avoid overdraft fees and other charges associated with bounced checks.
5. Transparency and Control: Many apps provide clear terms and conditions and allow users to control the amount they borrow and their repayment schedule.
6. Additional Features: Some apps offer budgeting tools, financial tracking, and other resources to help users manage their finances better.

Cons

1. Potential for High Fees: While the loans are marketed as ‘fee-free’ or ‘low-cost,’ optional fees like tips or instant deposit fees can add up, sometimes making these loans as costly as traditional payday loans.
2. Encouragement of a Debt Cycle: Easy access to funds can lead to habitual borrowing, potentially trapping users in a cycle of debt where they rely on future loans to pay off current ones.
3. Privacy Concerns: These apps often require access to personal and banking information, leading to privacy concerns. Some also track users’ locations or access their bank account data.
4. Limited Borrowing Amounts: These apps are generally meant for small financial needs. They’re not suitable for larger financial emergencies or long-term financial solutions.
5. Impact on Financial Habits: Frequent use of instant loans can encourage poor financial habits, like spending beyond one’s means without addressing the underlying budgeting issues.
6. Risk of Overdependence: Regular use of these apps might hinder the development of essential financial skills like budgeting, saving, and emergency fund building.

Alternatives to Instant Loan Apps

While instant loan apps can be a quick fix for financial emergencies, they are not the only option available. It’s essential to explore other alternatives that might be more financially prudent and less risky in the long term. Here are some general alternatives to instant loan apps:

1. Personal Savings: The most risk-free alternative is to use your own savings. Building a personal emergency fund can provide a buffer for unexpected expenses, eliminating the need for instant loans.
2. Credit Cards: For those with access to credit cards, they can be a viable alternative for managing short-term expenses, especially if the credit card offers a low-interest rate or interest-free period.
3. Personal Loans from Banks or Credit Unions: These traditional loans typically offer lower interest rates compared to instant loans and credit cards. Credit unions, in particular, might offer more favorable terms to their members.
4. Payment Plans: If the financial need arises from a bill or a due payment, inquire about payment plans. Many service providers and medical offices offer structured payment options, sometimes without additional fees.
5. Borrowing from Friends or Family: While it can be uncomfortable, borrowing money from friends or family can be a no-interest or low-interest alternative. However, it’s crucial to approach this option responsibly to avoid straining relationships.
6. Community Assistance Programs: Many communities have local programs that offer financial assistance for emergencies, including food, rent, and utilities. Non-profits, religious organizations, and government agencies are potential resources.
7. Side Jobs or Gig Economy Work: Engaging in part-time work or gigs can provide additional income. This option not only helps cover immediate expenses but can also contribute to building savings.
8. Selling Unwanted Items: Selling items you no longer need, through online marketplaces or garage sales, can generate quick cash without incurring debt.