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The offers that appear on OpenCashAdvance.com are from companies from which OpenCashAdvance.com receives compensation. OpenCashAdvance.com does not make loan offers, but instead pairs potential borrowers with lenders and lending partners. We are not a lender, do not make credit decisions, broker loans, or make short-term cash loans. We also do not charge fees to potential borrowers for our services and do not represent or endorse any particular participating lender or lending partner, service, or product. Submitting a request allows us to refer you to third party lenders and lending partners and does not constitute approval for a loan.

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Emergency Short-term Loans

Those who are stuck in a tight financial situation because of an unforeseen expense or medical emergency should remember that they may have options. An emergency short-term loan is one example.

Features and Benefits of Emergency Loans Online

Amidst the coins surrounding a jar half-fulled with coins is a card that says 'Emergency.'

While same-day emergency payday loans are not an option, this funding option still provides many benefits. A few of these include:

  • Straightforward terms
  • Easy repayments
  • Possible option for installment plans

Straightforward Terms

If you are approved for short-term funding, then the lender is required to tell you certain details about your offer. The lender will include this information in your loan agreement. When reviewing this document, it can be helpful to know that:

  • The lender must tell you when repayment is due. This makes it easy to know when you need to have your funds ready.
  • You need to clearly see the cost of the loan amounts. The agreement will show you how much your loan costs in terms of fees and interest, as well as how expensive any penalties may end up being.
  • The agreement includes other terms that you should read and understand.

It shouldn't take a law degree to understand your loan agreement. The terms tend to be pretty straightforward, helping empower you as a consumer.

Man holding an empty wallet and reviewing financial documents.

The process of paying a loan back to an alternative payday lender is nearly identical to those offered by conventional financing institutions. Sometimes the funds are taken from your account automatically on the specified due date.

No Hidden Fees in Some Cases

If you receive a cash advance loan agreement, it will show all the fees associated with the loan. An emergency short-term loan will carry a number of fees. These fees exist to ensure the lender earns a profit off your loan. Interest rates, general fees, insurance rates, and administrative fees are all common. The latter will be required if there are third parties, like brokers and administrators, that require payment for managing your transaction.

As you might expect, timely payments are important. Additionally, the interest rates associated with these loans have the potential to add up at a rapid pace. If you aren't careful, they can easily sneak up on you.

Understanding Rollover Fees

Woman enters numbers from a financial document into a calculator.

Depending on which state you live in, there may be a potential for rollover fees. If you are unable to repay the loan by the original due date, the lender may allow you to extend the due date for an additional fee. These are typically referred to as rollover fees.

While rollover fees may appear as simple late fees at first, they are a bit more complex. These fees may have their own interest rates attached. Failure to pay can result in more late fees and interest rates.

It is best to plan well in advance to ensure that this scenario doesn't occur. The rapid accumulation of fees is one risk of short-term funding. Wise distribution of your funds and timely payments can help you avoid paying more for the cash advance loan.

Easy Contact with the Lender

Lenders expect you to offer up-to-date contact information. They need to know that they can reach out to you if necessary. It is also important that you are able to communicate with the loan grantor when necessary.

What kinds of communication options do payday lenders require? Home phone numbers, cell phone numbers, a home address, and an email address are all regularly required. If you aren't able to provide personal contact information, you may be able to provide an immediate family member's contact information as an alternative. That said, lenders may not want you to use your significant other's contact information if you are not married.

Understanding Installment Plans

Online providers will sometimes have installment-based payments if you are willing to take out a larger cash advance loan. Installment plans are more common for loans greater than $1,000.

The lenders we work with offer installment loans up to $5,000. These are still considered short-term loans because you are expected to pay them back within one year in some cases.

These types of loans are cheaper if you pay them back quickly. If you take the full loan term, then you will end up paying more interest than if you paid the loan off fast.

Emergency Installment Loans

This is a type of loan that is to be repaid within a set period with regular payments. This type of loan may be favorable for those who prefer paying off their debt over time. It’s popular with consumers who need emergency funding and have bad credit.

It’s possible to request one through our site. This type of funding may have a one-year loan term. The provider may let borrowers pay off the loan early without a penalty, which can save you money on interest.

The loan provider will work out an agreement with the customer for when the funding should be paid back. If approved, the funds could be disbursed in as little as one business day.

Choosing a Credit Union for Emergency Funding

Credit union building with cars parked out front.

If the borrower does not want to apply for a money advance, then they can go to a credit union for financial services and assistance. A credit union is a good option for a borrower who does not want high interest rates or additional fees when applying for short-term funding.

There are numerous benefits of a credit union, such as lower interest rates, more flexible repayment options, and access to tools for improving your financial situation.

Repairing Your Credit

Some locations offer help for those with bad credit. Counselors can sit down with you and run a score check to see what your financial situation is like. Then, they may provide you with the tools and resources to improve your credit score, as well as give you tips and tricks on how to manage your expenses.


There are limited locations, as most credit unions tend to be brick-and-mortar branches. As a result, it may become difficult to find one in your area.

Reasons Consumers Need Emergency Cash Immediately

There are many reasons why customers may need to take out a short-term loan. Here are a few of the most common:


Man solemnly reviewing a financial document.

There are some customers who use short-term funding to pay off a bill. Using loans to pay for loans is ill-advised, as it creates more interest, which means the money owed is harder to pay off. If you are suffering from unmanageable debt, your best choice might be speaking with a debt counselor. Your state website should have resources that are available to you, and some of these options may even be free to use.

Debt Consolidation

There are financial tools for paying off debt that make more sense than high-interest funding. Many people undergo something called debt consolidation, which rolls all of your debt into one payment. You should know that the credit bureaus do not always look kindly on this, and your score may drop as a result.


Travel isn’t always for pleasure. Whether it’s an urgent work trip or a sudden need to visit family, there are many reasons why you may need to get somewhere in a hurry.

Car Repair

If you've ever had car trouble, then you know how expensive repairs can get if you don't nip things in the bud really quick. Not everyone has hundreds of dollars lying around, so a short-term loan can take care of your car in the event of an accident.

Business Expenses

A business without funds in the bank is always one cash flow gap away from bankruptcy. That's unless you can find a way to borrow emergency funds. Short-term loans is one way to pay for office supplies, invoices, employee wages, and other business expenses.

Home Improvement

A broken heater in the winter can be dangerous. That’s just one example of an unexpected expense that cash-strapped homeowners may face. Many are able to borrow funds to fix these issues.

Medical Expenses

Millions of U.S. consumers owe more in medical expenses than they have on hand. When you have a sudden medical issue that isn't covered by your insurance, it can become a scary prospect. For this reason, many people use credit to cover hospital costs and other medical expenses.

Funeral Costs

Losing someone you love is a horrible experience. Things become even more terrible when it is a financial emergency. Even when you have money on the way, funerals require payments right away. An emergency cash loan can help you pay for everything upfront while you are waiting for inheritance or life insurance.

You shouldn't have to stress about finances while grieving. A short-term loan can give you temporary financial relief.


No one wants to get caught short when the rent is due. Getting the money needed to pay another month's rent sometimes requires short-term funding.

Be careful, though. Using short-term funding to pay rent is one of the easiest ways to fall into a debt trap. Short-term loans are meant to fund short-term expenses. Your rent is a recurring expense. When you use short-term funding to cover a recurring expense, you make it a little easier to fund this month's expenses by making next month a lot harder.

How One May Get Approved for an Emergency Loan

Pen and calculator on top of a loan agreement and five stacked hundred-dollar bills.

You can save time applying for emergency short-term loans from a lender by knowing the most common steps before you start. They are similar, though sometimes a bit stricter, than those held by conventional lenders. Even if your credit history is shaky, online lenders may be willing to work with you.

  • First, a job and a verifiable stream of steady income are important. These factors tell the lender that you are capable of providing a paycheck to cash on your due date. Approval is never guaranteed. You should always be willing to apply to multiple loan outlets.
  • Because emergency scenarios mean you need your money quickly, lenders may suggest direct deposit payday loans as a quick delivery method. Direct deposit means that your lender will send the sum of your loan directly to your bank or checking account. As a result, a valid checking account is usually a requirement for an immediate payday loans lender to work with you. Some will offer alternative means of delivery, however.
  • If you are working with a lender with a storefront location, you can potentially receive your loan in cash. And cash loans will rarely affect the size of your loan or the interest rates attached. If this isn't an option, you can request the cash be delivered to you in another way.

Using a Credit Card Cash Advance Instead

Your credit card may provide another solution. Money advances through your credit card (please note, these are different from the "cash advances" that are short-term loans) are one of the fastest ways to get emergency funding. A fee may be deducted from the sum at the point of transaction. Then, you pay back the emergency cash loan through your regular statement.

Unfortunately, this kind of money advance requires a credit card. You should not use your debit card for this purpose, as you can be hit with an NSF fee if your account does not have the required balance to meet your withdrawal.


Card companies can charge a steep fee for this service. Sometimes, this fee can exceed the amount required for using a short-term loan. If both options are available, we recommend that you compare the fees and choose the cheaper option.

When comparing the fees, make sure you calculate how long it will take you to pay back the loan through your card, as the longer it takes to repay the loan, the more interest you will end up owing to your card company.

Another big disadvantage is that those without a credit card cannot use this service.

How Emergency Payday Loans Affect Your Credit Score

Hands holding a mobile phone and using a payment app.

Disciplined consumers have been known to use emergency loans to improve their credit scores. The loan may not improve your score in the short-term, but timely payments may improve your score after a few months, assuming the lender reports your payment(s) to the credit bureaus.

These payments are an excellent way to show creditors and loan establishments that you can manage commitments. They can also be helpful in securing larger loans in the future. In short, if you manage emergency loans responsibly, you may be in better shape the next time you need funding.

Likewise, by making timely payments consistently, you can effectively offset black marks on your credit report . As such, it's crucial that when you take loans that you are confident that your income stream is sufficient for loan repayment. It is recommended that you give yourself ample leeway to avoid worst-case scenarios where you are unable to make payments on time.

Missing a payment on your loan will likely damage your credit score.

To get the most out of your loan, make certain that your credit agency has all the necessary forms, invoices, and regulatory documents to confirm that your payments have been made on time and consistently.

Emergency loans can turn nightmare scenarios into minor inconveniences. So long as you take them responsibly and with purpose, you should have a positive experience working with your selected short-term loan outlet.


Can I get emergency payday loans with no credit check?
No credit check loan offers are usually false advertisements. Those searching for a short-term loan on the same day with no credit check will be hard-pressed to find any lender offering either of these solutions. All lenders use at least a soft check to see if you are in good financial standing and can afford to make the payments on your loan in a timely manner.
Is it possible to get emergency payday loans from a direct lender?
There are multiple sources available online if you are looking for a lender. While a loan connection is not possible for everyone, even those with bad financial standing are sometimes able to receive short-term funding from a lender.
Can I get an emergency money advance in a few hours?
It is not possible to find short-term financing on the same day when working with an online lender. If you are qualified, the funds may be transferred to your bank as soon as the following business day.
Can I get an emergency payday loan on the same day?
Again, if you are qualified for a short-term loan, you can be eligible to receive the funds fast. However, same-day funding is not available when requesting short-term funding online. If you do not have an emergency fund and need to make a payment fast, you should expect the money to take at least one business day to arrive.
What is an origination fee?

An origination fee is used to cover the cost of processing short-term or long-term funding. Usually it is a percentage charged on the amount that is given to the borrower. Origination fees will cover the cost of the customer service that the lender gives you. Once you submit your emergency cash loan application, the loan officer will keep you informed during the process, including any information they may need from you later on.

Also, an origination fee may cover other tasks that are needed to secure your loan, including acquiring any background information about your financial situation, looking for specific documents, and verifying information. All of this information combined may help determine whether or not you qualify for financial support; however, some lenders do not consider these details.

It is important to keep in mind that loan origination fees might be combined into one fee, or listed separately. They might have a different label associated with them as well, such as underwriting fees, application fees, or processing fees.

What are my options if I have bad credit?
It may be difficult to find prime rates if you have a low credit score. That said, subprime personal loans are sometimes available to those with bad credit. Many of the financial products mentioned in this article are designed for consumers with few other options.
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