Being in a financial bind becomes complicated when you don’t have the help of family and friends. Having debts greater than your available balance to pay is overwhelming, and some people often choose to take out a loan. When the amounts requested range from $100 to $500, they are considered a “short loan.”
This financing is easier to obtain and does not require as many protocols as applying for a mortgage. If you need a loan and are wondering where you can borrow 200 dollars, some applications and websites on the market can make a deposit instantly. Each one works independently and caters to a specific group.
How can I borrow money and get it instantly?
Although it may not seem like much, $200 can help resolve expenses and pay off debts. You can pay emergency bills or pay off car repairs with a quick loan. Here are some tips to consider when applying for short-term financing:
- You can access short-term financing through payday loan programs. You can apply in person or online and receive the money directly into your bank account
- You do not need active employment to be approved immediately because some lenders make the caveat with unemployed citizens. A person can apply if they provide proof of income from government assistance
- You can be approved if you have bad credit. A low credit score is not an excuse to be denied the money
If you need the money urgently, you can talk to a lender who is in the business of making the loan immediately. In these cases, you can receive the funds within one business day. If you apply online, you can receive the money directly into your account.
One of the disadvantages you should consider is that the interest rates and loan fees are very high. If you need a small amount of money, we do not recommend this as your first choice. Evaluate all the possibilities in your environment and consider this alternative as a last resort.
What app will let me borrow $200?
You can apply for short-term credit from the comfort of your home. Some websites and mobile apps will approve the requested amount in minutes. These loans are advantageous because they don’t involve high demands but have high fees. These are the two most used and trusted apps to borrow money online:
Option One: MoneyLion
MoneyLion is a company dedicated to financial advice, investments, and quick loans. It is estimated that 70% of Americans are the company’s target audience because this percentage has less than $2,000 in savings.
It has an easy interface where the user can borrow, save, invest and earn money. In addition to having tools to track, control, and keep expenses, the company offers the service of financing for less than average costs.
By creating an account and logging in, you can request a payment of up to $250 interest-free. But if you sign up for MoneyLion Plus, you can get up to $500 with a 5.99% interest rate paid over twelve months. If you need a lower interest rate, the company can offer it for the use of a brokerage account as collateral.
With MoneyLion, you can receive up to $250 immediately with no interest, no monthly fee, and no credit check. The process to apply is:
- Download the app to your mobile device
- Create an account and log in
- Go to the InstaCash option
- Click on “apply”
- Indicate the expected amount ranging from $30 to $250. We recommend you choose “free delivery” to receive your funds free of charge, but if you want the money immediately, select the paid option, where you will pay a small fee
If you have any questions or need assistance, contact the customer service center 24 hours a day, seven days a week, at +1-888-704-6970.
Option two: Money Messiah
Money Messiah is a tool that allows you to get money fast, easy and secure. Thanks to these personal loans, you can cover unexpected expenses from the comfort of your home. The online process is very simple; you can receive from $200 to a thousand dollars directly to your bank account.
The company promises to send the money immediately after the customer has submitted a work phone number, a personal checking account, proof of monthly payment, and an email address. According to Money Messiah’s website, 98% of their customers would apply for a loan with them again the next time they need financing.
You must create an account and log in to request a loan from Money Messiah. Within the app, you can make the request and complete all the steps until you receive the money. If you have any doubts or needs, contact the customer service phone number +1(855)8778150.
Advantages and disadvantages of using an application to request loans
These applications help cover emergency expenses, but they also have some negative aspects that you should consider.
- Applicants can cover their expenses and access money quickly and easily
- Some apps have useful budgeting tools
- With these loans, you can avoid overdraft fees on your account
- They have higher rates than a traditional loan
- Often become a trap for some users who are unable to repay the debt afterward
- People tend to encourage bad spending habits because, although they are requested for an emergency, some applicants request them for expenses that are not considered emergencies
There are hundreds of applications and websites where you can apply for quick loans in the online market. We invite you to verify the terms and conditions of the company before applying for the loan.
Even in desperation, making a wrong decision can become a headache for the future.