Find out how to apply for a $400 loan now and get quick funding. Consider a $400 Payday Loan or Personal Loan for bad credit.
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If you are thinking “I need $400 now”, consider applying for a loan online and get same-day funding. Even if you have a bad credit score, you can still qualify for a small dollar Payday Loan or Installment Loan.
Just choose which repayment terms will be more convenient for you and pre-qualify online for either a short-term Payday Loan or a long-term Personal Loan repaid in fixed installments.
Direct lenders approve most borrowers regardless of their credit rating. They do no hard credit check and provide funding on the basis of the simple eligibility criteria.
Though $400 are available in various loan types, the most common one is the Payday Loan. It will provide the funding fast with a short repayment term till the next pay day. Payday lenders offer financing with no hard credit check. However, it’s necessary to be careful as Payday cash advance has high interest rates and may turn out rather expensive. So, if you decide to apply for a 400 Dollar Payday Loan, make sure you’ll be able to repay it on time.
Banks and online lenders can also offer 400 dollar Personal Loans paid back in fixed installments over a set period of time. But there’s usually the minimum Personal Loan amount required by the financial institution. And in most cases, it’s not less than $1,000, or rarely - $500. So, if you only need 400 dollars, Payday Loans will be a better option. Otherwise, you’ll have to borrow extra money and waste more on interest.
How to borrow $400?
Apply online. It takes a few minutes. After you submit the application, you'll be matched with a lender. You can expect a quick approval decision and the funding asap.
What are 400 dollar loan requirements?
Typically, the requirements are similar at the majority of lending companies. They include:
- The age of minimum 18 years or older
- A valid ID form
- Proof of US residency
- A valid email and phone number
- An active banking account
- Proof of regular income
How much does it cost?
The basic criteria that determine the cost of a 400 dollar payday loan are the state's regulations and the lender fees. Finance charges may from $50 to $180. The most important factor is the APR. Let's see the example calculating the total cost of a $400 loan:
If the APR is 300% and the repayment term is 30 days, the total cost will be:
400 + (400*300/100)/365*30=499
499$ - total cost, 99$ - interest of the loan for 30 days. Besides, you may e charged the commission fee of $10.
Are 400 dollar payday loans available for bad credit?
Yes, you can qualify for a loan even with bad credit. It doesn't affect the lender's decision whether to approve you or not. A regular income is more essential to get a loan. If you happen to say, "I need a 400 dollar loan today", you have great chances to get the money from online payday lenders.
Can I borrow money fast?
Yes, you can get same day if you apply online and submit the application before 11 am on a weekday. Otherwise, the funds may be deposited into your banking account the next business day.