Having bad credit can pose significant challenges when seeking to borrow cash, as traditional banks often hesitate to offer loans, and if they do, the interest rates can be high. However, despite these hurdles, viable options still exist. Exploring small loans tailored for individuals with poor credit can provide a way to financial assistance. Here are five options to consider, including title loans and registration loans, which offer accessible solutions for those with less-than-ideal credit scores.

5 Options For Small Poor Credit Loans

1. Borrowing From Your Friends And Family

If you need to borrow cash to cover an emergency, then you may want to turn to your friends and family members. It is unlikely that they will care too much about your credit. As long as you can prove that you will eventually pay them back, they’ll probably be more than happy to loan you some cash.

When it comes to small loans for poor credit, this is probably the easiest type of borrowing. Just explain your situation to those close to you. They will either say yes or no. Of course, don't blame them if they say no. They may be dealing with a tricky financial situation themselves!

2. Taking A Pay Advance At Work

Taking a pay advance at work isn't a loan as such. Instead, you are getting paid a little bit earlier than you normally would. Many companies, assuming that you have been a loyal worker, will be more than happy to give you a small pay advance – if they are able to, of course.

Depending on the size of the company, you will either need to talk to your manager or HR. Since you are only taking cash that you have already worked for, there will be no credit checks or anything. There won't be anything to pay back either. All you need to remember is that there will be less money coming in with your next paycheck.

3. Using Your Retirement Fund

Again, using your retirement fund is you borrowing cash that you have already 'earned'. This means it is one of those small loans for poor credit that should be accessible. Most retirement funds will allow you to take small sums of cash well before retirement age.

However, bear in mind that there will be small financial penalties for doing this. if you don't pay it back, then you will also have less cash available for retirement. It is not the best way to borrow cash to cover small expenses. However, if you are dealing with an emergency then you may have no other choice.

4. Get Title Loans

Another option you have is to come see Fast Auto Loans, Inc. for a fast title loan. Title loans allow you to borrow a lump sum of cash against the title of your vehicle. To obtain a title loan, you will need to hold a lien-free vehicle title. This means your title is free of any outstanding liens.

The good thing about us is you can still qualify for this loan even if you have poor credit. And when it comes to how much you could get, the money is based upon both the value and condition of your vehicle. This means we will inspect your vehicle to determine how much you could get.

 

 

5. Get A Registration Loan

If you own a vehicle but don't have a lien-free title, then registration loans with us could be an option. With Arizona registration loans, you will be borrowing cash against your vehicle's registration. Here at Fast Auto Loans, Inc., you could borrow up to $900. Keep in mind that for this loan, we do check your credit to determine if you qualify for approval.

One of the major benefits of registration loans is the fact that it is an incredibly fast way to borrow cash. The inquiry process here at Fast Auto Loans, Inc. can take as little as 30 minutes. And if you are approved, you can have the money as soon as the same day.

Since those looking for small loans for poor credit need to cover emergency expenses, this is ideal. It ensures any expenses can be dealt with sooner rather than later. The best part about this loan is you don’t have to own a vehicle to qualify like you do for our title loans. As long as you have the following documents, then you can inquire about a registration loan with us:

• A valid Arizona driver's license or state-issued photo ID.
• Vehicle registration from Arizona in your name.
• A statement from an active checking account in your name.
• A valid social security number.

Getting started with the inquiry process is easy. All you need to do is fill in the short form on our website. This tells us that you are interested in a registration loan and sends us your contact information. We won't ask for much information from you, and filling in the form carries absolutely no obligation. You can pull out of the inquiry process any time you want.

Next, one of the team members from your closest Fast Auto Loans, Inc. location will give you a call. We will tell you a little bit about registration loans. You are also free to ask us any questions that you may have. We will also set an appointment for you to come to your local Arizona registration loan location so we can check your documents.

Once we inspect your documents and run your credit, we will tell you whether you have been approved for a registration loan or not. If you have, then you can sign your loan agreement. Once signed, you could get the money either the same day or the next bank business day.

Get The Cash That You Need Today

While your options may be a bit more limited than if you had good credit, there are small loans for poor credit available. This may mean talking to your friends and family members, borrowing from your retirement account, or asking for a pay advance at work.

In other cases, a registration loan could be an option for you. If you hold the registration to your vehicle and need access to cash fast, then get in touch with Fast Auto Loans, Inc. today. Fill out the online form on our website and you could have access to cash as soon as today.

Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.