Apps That Let You Borrow $100| Here is a quick answer!
By Newztodays Team
Do you need an emergency loan but don’t know which smartphone apps to trust? There are several apps that let you borrow $100 and you can use them to get quick cash.
A loan app might be of great assistance if you have an emergency and your money isn’t enough to get you through.
You may conveniently obtain the money you require from the convenience of your smartphone with these payroll advance apps.
Credit checks are often minor, and the process is swift. The majority integrate payday loan services with fintech elements.
Contrary to the aggressive fees of typical loan sharks, they do their best to keep prices as low as possible. Modern features like online wallets and budgeting tools are also included.
There are many $100 rapid loan apps available, which is wonderful news. But if you require a loan quickly, it’s critical to weigh your alternatives and choose the app that best suits your needs.
Here is a list of the top loans for payday advances you can know and use to meet your emergency cash needs.
- Read More: Same Day Loans that Accept Cash App in 2023!
Pointers for speedy loan applications
The following are some suggestions to bear in mind as you search for the ideal immediate loan application to help you get by till your next paycheck:
- Most of them are smartphone apps or only available online.
- Many aim towards the United States.
- Initial loans are often between $100 and $250.
- Typically, they are fintech businesses rather than banks.
- Constant borrowing might put you in a spiral of debt, thus it is not a wise financial move.
- To calculate your repayment amount, utilize a loan calculator.
Apps That Let You Borrow $100 Instantly:
There are so many options to choose from when you especially talk about borrowing money. Here we have some Apps from where you can borrow $100 instantly.
Have a look at these apps.
MoneyLion
Millions of industrious Americans can benefit greatly from MoneyLion, another fintech company.
In one app, combine low- or no-fee financial advisory services, loans, investments, and a credit generator.
It enables you to open a RoarMoney account, which can speed up your deposits by up to two days. Additionally, you are eligible for a $1,000 cash advance with 0% APR after two automatic deposits.
Through the platform, you can invest any extra cash utilizing fully managed and automated portfolios. The credit building tool costs $19.95 while an account only costs $1 per month.
For Android phones starting at version 5.0 and for iOS devices starting at version 11.0 and up, there is MoneyLion. It has a 4.4-star rating and more than 1 million downloads on the Play Store.
Advantages:
- All in one platform
- Do not demand any extra charges or fees.
- It provides easy accessibility to the information and tools.
- MoneyLion also offers cashback rewards
Drawbacks:
- It costs $1 for every single month
- Limited availability of their services(geographical limitations)
Brigit
The Brigit app, which has more than 3 million users and all the features of contemporary finance platforms, is another intriguing software.
Without a credit check or interest, loans up to $250. Additionally, installation and setup are quick.
Brigit also offers insights on your spending patterns, bills, and total budget in addition to helping you improve your credit.
It is free to use, but it costs $9.99 a month if you want instant down payments or to improve your credit.
Advantages:
• Financial information, overdraft warnings, and down payments of $250
• Make payments automatically on time to ensure positive feedback
Drawbacks:
• To avail of the monthly premium features, it costs up to $9.99.
• It offers limited cash advance
Dave
A selection of financial tools are available on the Dave app to make your life simpler. This covers down payments of up to $100 and up to $200 for Dave Banking members.
Additionally, you may be paid up to two days in advance. Additionally, by just paying your rent and utilities on time, you can establish your credit history for nothing.
There are no fees, late fees, minimum balance requirements, or other undeclared fees at Dave Banking.
The Dave app also has a feature that aids in finding a side business. And that makes sense because the main justification for borrowing is insufficient income.
Advantages
• It provides quick loans of up to $200
• Free overdraft protection services are also provided by Dave
• No fees and credit history are required.
Drawbacks
• Monthly subscription costs up to $1.
• Take High charges for average funding compared to others
PayActive
PayActive is unique, as compared to other listed apps. PayActive aids you in obtaining the money you have already earned while providing you with a loan till your following payday.
Employers cooperate to make the system work better. After that, you can receive payment in your bank account for the hours you’ve already worked.
A Payactive card makes it simple to pay for anything you wish because you can also receive paid on one.
No minimum balance demand and no overdraft fees are required. You can send and receive payments easily from other users using the Payactive app.
SmartSpend and SmartSave are some extra services that can assist you in making smarter financial decisions and safer purchases. If your employer isn’t using PayActive, you can still utilize it.
Advantages:
- An excellent concept that combines an ATM card, mobile payments, tracking, and savings
- PayActive avoids highly cost alternatives
- Provide accessibility of tools to users for better management of their finances.
Drawbacks:
- It is not a true loan.
- Income instability is the main problem.
EarnIn
Earnin is a paycheck advance program that was formerly known as ActiveHours and provides quick access to money you’ve already earned without running credit checks.
Your bank account and employment data are both obtained by the Earnin app for it to function.
Additionally, you must have a checking account where your company will deposit your regular paychecks. A weekly, bimonthly, or monthly frequency can be used.
A third prerequisite is having a set place of employment or an online timesheet so the app can verify your hours worked.
You are permitted to borrow up to $500 every pay period and $100 per day using Earnin. Although there is no fee for using the system, tipping generously is advised.
An FDIC-insured account is one of the additional app services that might help you save money. And a feature called Balance Shield that alerts you when your account balance is becoming low so you can manage it better and prevent overdraft fees.
Note:
“Only US citizens are eligible to use Earnin”.
Advantages:
• Simple and easy access to funds
• Do not require any fees
• Ensure the preservation of the users’ account balance.
Drawbacks
• Doesn’t apply to remote employees and freelancers
• Brings financial instability
Conclusion
As we conclude our list of rapid loan applications, you have also looked at the top fintech websites with outstanding features like payroll advances.
Our needs vary depending on who we are as individuals. There cannot, therefore, be just one top app. You must instead decide which platform best meets your needs.
