7 Easy & Effective Ways to Borrow $100 Instantly [2023]

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Updated: Apr 06, 2023
author photo Written by Louis BakerUpdated: Apr 06, 2023
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Need a $100 quick loan, but worried about your unemployed state and bad credit? Don't fret! You can easily borrow $100 from many lenders even if you have bad credit.

Most of them don't do a credit check, ask for employment proof or require strict qualification criteria. They also provide the fund within 24 hours- most of the time within an hour after approval.

Here are seven simple, hassle-free ways to borrow $100 within 15 minutes to one hour without strict requirement barriers.

Option #1 Consider a $100 Payday Loan (For Bad Credit)

What is a payday loan?

Payday Loans are instant high-interest short-term loans that lenders avail to people who need urgent funding.

People with bad credit can apply for this type of loan, get approved, and receive the deposit as quickly as five minutes after approval.

Also, no collateral is required for loan approval, and lenders don't usually ask or specify how you use the loan you take. You can use a payday loan for different purposes, from grocery shopping to buying a new home appliance.

How Does A Payday Loan Work?

Everything from application to processing and approval of the payday loan happens online. All you have to do is fill out the required form and await approval.

Payday loans are usually given out based on what you earn, so when you apply, the lender may request your pay stub to determine how much you get.

The loan amount will then be approved at a very high-interest rate, after which you must repay before the due date. The repayment term for payday loans is generally short- typically one month or less.

So, in the end, the total cost of getting a payday loan is way above a high-interest credit card.

Payday loans can be risky for borrowers because the lenders usually don't check if you can afford the principal plus interest within the loan term. Instead, they only give out loans and expect repayment on the set dates. That can be risky as you may enter a debt trap if you default on payment.


  • Payday loans provide fast funding for borrowers who have emergency needs.
  • Because of the few requirements, almost anyone can qualify for a payday loan.
  • You can use the loan for any purpose.
  • Regardless of your poor credit score, you will get a payday loan.
  • Payday loans are easy to access, unlike traditional loans. You can easily apply for them online and finish the processing within ten minutes.
  • Payday loans are unsecured, meaning you can take out an advance without collateral.


  • Payday loans are expensive due to their high-interest rates. Most of them give out loans at over 400% APR, which is an outrageous fee.
  • Because lenders don't do a risk assessment, you can plunge into a debt cycle if you cannot repay the loan within the stipulated time.
  • The majority of payday loan lenders employ harsh collection practices.

Eligibility For Payday Loans

The requirement to qualify for a payday loan is straightforward, such that almost everyone can take out a payday loan. See the general eligibility conditions for payday loans below:

  • You must be 18 years old or above.
  • You must be a citizen of the U.S. or have permanent residence in America.
  • You must have an active bank account.
  • You must provide proof of a steady income source.
  • You must provide a phone number and other required means of communication.

The Interest Rate, Fees, And Cost of Payday Loans

Although payday loan lenders don't disclose their borrowing fees as a percentage, their interest rates when calculated, are generally high. Most lenders collect an average APR of 400%, and others can go as high as 780%. For $100, the interest rate is $15 to $30 and can even go much higher when the borrower defaults on payment.

Defaulting on payday loans usually attracts extra fees called finance charges. For example, if you borrow $100 at a $20 cost and pay on the set repayment date, you'll return only $120.

However, you will be asked to pay a finance charge when you default on payment and roll over the debt. Let's say the finance charge is $75- Your total debt will be $120 + $75 = $200. That means you are paying a 571% APR on the $100 loan, which is rather outrageous.

How Long Will I Have To Repay A $100 Payday Loan?

Lenders' average repayment for a $100 payday loan is two weeks. However, you can get up to one month to pay back the loan, after which penalty fees may be imposed.

Get A $100 Payday Loan Instantly With CreditYelp

Considering taking a payday loan? Get the best $100 payday loan offer through CreditYelp. We are an online broker that connects borrowers to suitable lenders to ease their financial stresses.

We understand that payday loans can be predatory, so we have partnered with a network of lenders that offer loans at the fairest cost. When you apply for your payday loan via CreditYelp, your request will get forwarded to our over ten credible lenders.

Get A $100 Payday Loan Instantly!

If your credit falls into the bad credit range, most lenders and banks will likely see you as a credit risk. This is where CreditYelp comes to the rescue.

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At CreditYelp, we make your borrowing process easier and faster by taking you through three simple steps:

  1. Fill out a form with us, and we will forward it to our network of payday loan lenders.

  2. Willing lenders will send unique offers, which you will compare and choose the most suitable one. We will also provide you with evaluations and comparison reports to help you make an informed decision.

  3. Complete the deal with your lender and expect a cash deposit as soon as the next business day.

Why apply for payday loans through CreditYelp?

  • We will connect you to credible lenders even with a bad credit score.

  • Our partner lenders are verified with unique NMLS IDs.

  • We offer super-fast loan approval and high credit limits. Your $100 will be deposited into your account as fast as 1 hour.

  • Only one loan form is enough to reach all CreditYelp partner lenders.

  • Despite the payday nature, our partner lenders offer reasonable rates compared to other loan companies.

  • Our partner lenders offer reasonable repayment terms and do not introduce surprise charges.

Option #2 Consider Instant Loan Apps

Some loan apps are created specifically to grant instant small loan requests from borrowers with urgent needs.

These apps operate almost the same way as the Payday Loan, only that they offer their loans at lower costs. Instant loan apps don't check credit scores or have strict requirements. They are usually designed to be user-friendly and enable borrowers to operate them easily.

See three of the most popular instant loan apps to borrow $100 below:


Earnin is a zero-charge lending platform that allows you to borrow a small loan amount while waiting for your payday.

The Earnin app avails $100 to you at one of the least expensive costs. It offers you a quick loan on your checking account without charging any fees. With Earnin, you can borrow money against your next paychecks with no interest or other hidden fees attached. Instead of charging you, Earnin simply allows you to send a tip after repayment.

Borrowing is easy on Earnin. After filling out the loan request form on the app, your fund will be sent to your checking account.

Normally, deposits take two to three business days, but you can speed up the process with their lightning speed feature with $0.99 to $3.99 (varies according to loan amount). When your pay drops, Earnin can deduct the loan from your account easily if you opt for auto repayment.

Loan Amount

Earnin offers a maximum amount of $50 and $100 per day. It allows borrowers to take up to $750 loans per pay period.


Earnin does not charge interest on its advances. It asks for an optional tip instead, which is a maximum of $14.


There is no defined APR for Earnin, as users leave tips based on their discretion. So, APR will vary according to each customer's tip and the lightning-speed feature payment.


  • User-friendly interface.
  • No interest or additional fees required.
  • Access to cash advances against your next payday.
  • Ease of repayment as the fund gets deducted automatically when your pay drops.
  • No credit check is required.


  • An unemployed person cannot access this loan as it is borrowed against one's checking account.
  • Only small loans are available on Earnin.


Dave is a banking and cash advance app that allows you to borrow up to $500 against your paycheck when you are at risk of overdrawing from your checking account. It does not charge any interest fees on its loans but only requests a voluntary tip.

Before using Dave, you must sign up as a member for $1 per month. You can link your existing bank account or create a Dave banking account with the platform's debit card.

Loan Amount

Dave allows you to borrow up to $500 while waiting for your next paycheck.

Interest Rate

Dave does not charge interest on its loans, but it asks for an optional tip. Other fees include a $1 monthly membership fee and an optional fee for fast funding from $1.99 to $9.99 to transfer into a Dave account and $2.99 to $13.99 for non-Dave account deposits.


There is no defined APR for Dave's loans. It varies from borrower to borrower, depending on their fees.


  • Dave does not perform a credit check or use the credit score, meaning borrowing will not affect your credit score.
  • There are no interest rate charges.
  • Repayment is easy on Dave. You can easily set auto repayment so that the fund gets deducted when your check drops.


  • It takes a few days to get funded unless you pay extra for fast funding.
  • Borrowing from Dave will not help improve your credit score.
  • It is only suitable for taking out small loans.


PayDaySay is an app where you can get advances from direct creditors. This platform does not give loans by itself but connects you to numerous willing lenders registered on the app.

How this works is; you fill in your basic details, including your name, address, phone number, and credit type required. You will then receive offers from different lenders, which you will compare before selecting the best option.

It is important to note that the interest rate, loan limit, and fees vary from lender to lender. So, you ought to consider all those details while comparing the offers.

PayDaySay lenders offer five loan types:

  • Personal loans
  • Installment loans
  • Emergency loans
  • Debt consolidation
  • Business loans


The lenders on this app offer loan amounts between $100 and 2500+.

Interest Rate

PayDaySay does not charge any rates or fees. The platform is free for borrowers. The rates and fees you get depend on the lender you choose on this app. Most times, your total fee depends on your loan amount, repayment term, credit history, employment status, income, and other factors.


Your APR also depends on your chosen lender, but it will usually be between 5.99% and 35.99%.


  • Finding is usually instant on PayDaySay.
  • Your details are secured and never disclosed to third parties.
  • Lenders hardly do a credit check unless you are borrowing a huge amount.


  • PayDaySay is not a direct lender. That means you must sort through different lenders' offers with diverse conditions. The lenders may also choose whether or not to give you an advance after evaluation.

Option #3 Consider A $100 Cash Advance From Credit Card

Credit Cards are usually used for making day-to-day purchases, but you can also access instant withdrawable cash advances with them. Credit Card companies allow users to borrow money against their line of credit for a fee higher than what is charged on regular purchases.

As a credit cardholder, you will most likely be able to withdraw only a fraction of your credit limit because most issuers set a maximum withdrawal limit. Nevertheless, you should be able to withdraw $100 since most credit limits are usually way higher than that.

How to Get a $100 Cash Advance From a Credit Card

Getting a cash advance using your credit card is pretty straightforward. Depending on the credit card company, you can access cash with your card through the following ways:

  • ATM: You can use your credit card at the ATM the same way you use your debit card. Simply slot in your card, press your pin, choose an amount, and withdraw the cash. This withdrawal method can attract a fee, depending on where you use the services.
  • Check: Some credit card companies give users checkbooks. So, if you have one, fill it out and cash it at your bank. You can deposit the money into your normal account instead of collecting paper cash.
  • Bank Teller: You can also ask for a cash advance from your teller using your credit card.

Note that you can come across any of the following fees while using the credit card cash advance:

  1. Cash advance fee: This is what your issuer charges for lending you money. The interest on cash withdrawals is usually charged differently from regular purchases.

    It is usually calculated as a percentage of the money borrowed, but some credit card companies charge a flat fee too. You can expect a $5 to $10 or a 3% to 5% charge on each withdrawal. You can check the conditions of using cash advances with your issuer for clarity because the fees vary according to the credit card company.

  2. ATM charges: Depending on where you withdraw funds, the service provider can charge a small fee for the transaction, as with debit card withdrawals.


  • It provides access to easy and instant funding.
  • It does not require a credit check, as there's already a limit to what you can withdraw.
  • No paperwork or application processing is required to access funds from your credit card.


  • The interest and fees charged make it an expensive instant money choice.
  • The cash advance is short-term. There is no grace period- interest accrues immediately.
  • Frequent credit utilization can harm your credit score.

Credit Card cash advances should not be your first option when you need $100 because of the cost involved. It is advisable to consider other less expensive options before using your credit card to access loans.

Option #4 Consider a Payday Alternative Loan

Payday Alternative Loans (PALs) are loans offered by credit unions to their members only. This is one of the best ways to get $100 instant funding at a low cost. They charge pocket-friendly interest rates to help people improve their financial status, not just make a profit.

Also, the credit union does not do a credit check before approving loans to its members. They mostly focus on the borrower's income to determine how much advance such a person can afford.

How Payday Alternative Loans Work

There are two types of Payday Alternative Loans - PALs and PAL II. They both work similarly, but PAL II has some additional rules and exceptions.

PALs rules

  • You must have been a union member for one month.
  • Depending on your income level, you will have access to $200 to $1000 at 28% APR max.
  • You are expected to repay your loan fully in installments for one to six months with no rollovers.
  • Members can only get three PALs within six months.

PALs II rules

  • You don't have to be a member for one month before accessing a PALs II loan.
  • You can borrow up to $2000, depending on your income.
  • The repayment term is longer, with a 1 to 12 months duration.

Note: It is crucial to note that you cannot access both PALs simultaneously.


  • The interest rate on PALs caps at 28%, which is a low charge compared to other loan types.
  • Criteria for application are easy: You just have to be a credit union member.
  • They don't perform a credit check before approving loans.
  • Repayment terms are reasonable.
  • Fast and easy access to a $100 loan or higher.


  • You cannot get a loan if you are not a member.
  • The loan limit can be low if you don't have a steady income source.

Option #5 Consider Title Loans

Title loans are secured loans that allow you to use your car as collateral. The lenders don't check credit history, debt-to-income ratio, or credit score before approving loan requests from borrowers. Instead, they use your car as security in case you default.

Title loans usually come with high rates and limited repayment terms. You can borrow, from small amounts to up to 25% of your vehicle's value. However, you must repay your loan quickly to avoid losing your car.

How Does Title Loan Work?

As stated earlier, title loans are secured loans that use your vehicle as collateral. You are signing over the ownership title of your car to the lender until you repay the loan. The available loan amount usually starts at $1000 at an average APR of 300%.

Generally, title loans are notorious for their high-interest rate. For instance, if you take out a $1000 car title loan at 240% with a one-month repayment term, your total debt will be $1200. There can also be additional fees that will increase your total debt. This can easily put you in a tight spot and lead to serious consequences like forfeiting your car.

The typical repayment for title loans is 15 to 30 days, but it can be longer, depending on how much you borrow. You can pay the loan in installments or deposit a lump sum covering the principal, interest rate, and other fees. If you default on repayment, the auto loan company can claim your vehicle and sell it to recoup their losses.

Generally, auto loans allow you access to fast cash, but it comes at a very high price. It is advisable to compare the cost with other loan types before applying.


  • No credit check or strict risk assessment is required.
  • The loan is easily accessible if you own a car.
  • You can borrow up to 25% of your car's value.


  • You may not be able to get a $100 loan because the minimum credit is usually $1000.
  • The interest fees are outrageous.
  • It is not suitable for people who don't own a car.
  • You can lose your car if you default on payment.

Option #6 Consider Your Credit Union or Bank

Your bank can rescue you in times of dire need if you are a long-term customer. However, getting an instant loan from a bank takes more than being a loyal customer. They have strict rules regarding lending and always do a credit check to ensure you can afford the loan.

So, before applying for an instant $100 loan at your bank, check your credit score and ensure you are not owing. Customers with long-term relationships with financial institutions always get preferential treatment compared to newcomers. So, using your active banking account when requesting loans will be much better and easier.

In addition, some banks can request collateral before considering your loan request. You might want to hold a valuable item as an additional security means for fast processing and funding.

Option #7 Consider Your Employer

Companies give out employee loans to assist their workers in need. They usually give advances to their staff against their next paycheck at zero cost. So, you can take out a $100 loan for emergencies and have it deducted when you get your next pay.

Some employee loans allow workers to borrow well over their paycheck to cover expenses with higher costs like tuition, home purchase, home improvement, and more.

Employees who borrow this loan are expected to repay it according to their employer's terms. The borrowers often make arrangements with the companies to take out a fraction of their monthly payments until their debt is fully settled.

For clarity, you can consult your employer to see if you can borrow loans. Also, ask for the conditions surrounding the employee loan to avoid complications.


$100 is a small loan amount that can be gotten instantly from various lenders under different loan categories. Depending on your loan type, the repayment terms, interest rates, and funding time may vary. So, before taking out loans from any source, check their conditions, understand if, and ensure that it is convenient for you.

If you are looking for a fast payday loan, join CreditYelp now to access instant $100 loans from our credible partner lenders. They offer loans at pocket-friendly interest rates and do not introduce surprise fees at any point. Contact us now to ease your financial stress.

author photo

Written by

Louis Baker


Louis Baker started his career in 2017 by contracting with Experian. He also became a part-time content creator in various fields such as insurance, personal finance & investment, etc.

Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own.
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