How to Get $200 Loan Fast - Best cash loans

Here at MoneyFor, our goal is to help you make informed financial decisions. We are committed to accuracy and impartiality in all our content. It’s important to note that articles may reference products from our partners who compensate us. This influences which products we feature and their presentation on our site, not our evaluation.

Key takeaways

Options for a quick $200 loan include payday loans, cash advance apps, and pawnshop loans. These methods can provide immediate access to funds without a credit check.
While instant loans can be convenient, they often come with higher interest rates and fees. It’s crucial to understand the total cost of borrowing, including any potential fees for late payments or non-payment.
Before you borrow $200 dollars instantly, do your research. Always compare lenders and make sure you can repay the money.

If you need a $200 loan now, this article is for you. Unexpected expenses can hit at any time. Maybe you have a medical bill or need to get your car repaired. Sometimes, you just need a little help to get by until your next paycheck. That is where small-dollar loans come in.

Below, we’ll go over the different types of $200 loans available and what you should consider before you apply.

How to get $200 dollars fast

It’s stressful when you’re running low on cash and need funds to cover anything from everyday expenses to medical emergencies. Many big banks offer personal loans, but they take up to a week for approval and often have credit score requirements of 670 or more.

Luckily, some lenders offer loans with instant approval so you can get money fast, even with poor credit. Take a look at your options below.

Instant $200 loan app

A cash advance or paycheck advance app allows you to borrow a small amount of money until your next paycheck. These apps offer loan amounts ranging from $50 all the way up to $500. They are often interest-free, have lower fees than payday loans, and have more lenient eligibility criteria than loans from banks. Potential fees include a monthly subscription fee, optional tip, and fast funding fee.

Credit card cash advances

A credit card cash advance is when you use your card at an ATM or bank to withdraw cash. You get the money instantly, but it comes at a cost. Your credit card issuer will charge a fee, there will likely be an ATM fee, and you’ll be subject to a higher interest rate. Additionally, interest starts accruing immediately. While convenient, it’s only recommended if you can pay the money back quickly.

Payday loans

A payday loan provides instant cash in a single lump sum but at a cost. These are short-term loans that are typically due on your next payday. The amounts tend to be small – under $500, and they often have very high fees exceeding a 400% APR (annual percentage rate), which can make them a very expensive way to borrow money.

Find fast loans for bad credit!

Pawn shop loans

You can pawn an item of value to get a pawnshop loan. If you don’t repay as agreed, the pawn shop can sell your item. Pawn shop loans can be a less expensive option, but you could lose your belongings if you don’t repay the money on time.

Car title loans

If you own your car outright, you can take out a car title loan. Car title loans are when you use your vehicle’s title as collateral. These loans are usually easy to obtain with minimal credit checks. You will receive a lump sum, typically 25%-50% of your car’s value. The catch is these loans come with high interest rates, short repayment terms of 30 days, and the risk of losing your car if you fail to repay.

Need cash and have a settlement?

Cash out your structured settlement and get the money you need now!

Small personal loans online

Small personal loans from online lenders can give you quick access to a hundred up to a few thousand dollars. These are typically installment loans that you pay back in fixed monthly payments over a period of time. Most online lenders offer an easy application process and rapid approval. Interest rates vary based on creditworthiness, so compare options to find the best loan terms for your needs.

Direct lender vs. loan-matching services

There are two types of online lending services: direct lenders and loan marketplaces. Direct lenders provide funds directly to borrowers. You apply with one lender for their loan. Loan marketplaces connect you with multiple lenders, which increases the chances of finding favorable terms. While direct lenders offer simplicity, loan marketplaces provide more options for comparison and potentially better rates.

Need cash now!

Learn how you can get same-day funding.

Buy now, pay later apps

Buy now, pay later apps are a different type of instant loan. They allow you to purchase items immediately and pay for them over time in installments. These apps offer interest-free periods and flexible repayment options, which makes them a convenient way to make purchases when you lack the cash. Be mindful of late fees and repayment terms to avoid additional costs.

Borrow from loved ones

Borrowing $200 from friends or family can be a fast and interest-free option. If you decide to go this route, it’s a good idea to draw up a loan agreement. Set a clear repayment plan and discuss what will happen if you can’t repay on time. Putting everything in writing can help maintain trust and avoid potential conflicts.

Visit MoneyFor to learn more!

What should I do if I need $200 dollars now?

A $200 instant loan can be a temporary stopgap for various financial needs. They are easy to apply for, and many lenders even offer instant approval. Here are the steps for getting a $200 instant loan:

– Choose a loan type and lender: Decide what type of loan you want be it a cash advance or pawnshop loan. Then research different lenders, such as payday or direct lenders.

– Gather requirements: Prepare documents like a government-issued ID, income verification, Social Security Number, and bank account information. Pawn shops will require the item you’re pawning, while a car title loan may require a vehicle inspection.

– Prequalify before you apply: Most lenders allow you to prequalify without impacting your credit score. Online loan marketplaces make prequalifying easy since you submit one application, and they match you with lenders whose offers you prequalify for. Prequalification does not guarantee approval. It indicates a high chance you’ll be approved when you formally apply.

– Compare offers: Take a look at the loans you’ve prequalified for and compare the repayment terms, interest rates, fees, and amounts. Then apply for the best offer.

– Apply for the loan: Submit a formal loan application. Most lenders let you apply online.

– Review and sign the agreement: Carefully read the fine print, including the interest rate, fees, and repayment schedule. Only sign if you agree with the terms.

– Receive the funds: Most lenders disperse funds quickly and directly into your bank account. It can take as little as a few minutes to three business days.

Your score doesn’t have to hold you back!

Check out bad credit loans!

Can you get a $200 dollar loan with a low score?

You can borrow $200 with bad credit. All the lenders we reviewed above do not focus on credit scores for approval. Instead, they ask for collateral or judge your ability to repay based on income and employment history. These lenders often have a quick approval process, and you’ll likely get your money within the same business day.

However, as convenient as these options are, they often come with very high interest rates, extra fees, and short repayment periods. This makes the overall cost of borrowing quite expensive, which is a big problem if you’re already struggling financially. The potential high costs are why it’s so important to prequalify and compare offers.

Short on funds but don’t have a job?

We can help! Check out $200 loans today for unemployed borrowers.

Your credit score’s impact

Almost all lenders have a minimum credit score you must meet. Your score helps them assess how likely you are to pay back the money. Lenders view low credit scores as an indicator of a higher risk of delinquency (late payments or non-payment). Not without reason. Most borrowers with low scores have a credit history riddled with late payments and defaults. This means they might be hesitant to approve your application altogether. Even if you do get approved, you’ll likely face steeper interest charges. This increases the overall cost of borrowing.

Get a $1,000 loan today!

What to consider before applying

Here are some important factors to consider when you need to borrow $200 dollars:

Costs: Lenders charge fees and interest on loans. These charges protect the lender if you default but can significantly inflate the repayment amount. Consider the total loan costs compared to the $200 benefit.

Reputation and reviews: Research the lender’s online reputation and customer reviews. Look for lenders with a history of fair lending practices and good customer service.

Eligibility requirements: Ensure you meet the lender’s basic requirements, such as age, steady monthly income, and residency in their operating state.

Repayment terms: Often, $200-dollar loans must be repaid in full in as little as two weeks. Consider whether you can realistically repay the entire amount plus fees on time to avoid getting stuck in a cycle of debt.

Alternatives: Explore other options to cover emergency expenses. Alternatives include negotiating payment plans with creditors or asking for a hardship plan.

Impact on credit score: Even if the lender you chose does not report payments to the credit bureaus – Experian, Equifax, and TransUnion – they may report if you default on the loan. A missed payment on your credit report will hurt your score.

Debt trap: A short-term loan can become a debt trap if you’re unable to repay on time and have to re-borrow or roll it over. Consider the long-term consequences before borrowing.

Submit your application

Here are the boxes you need to tick before going ahead and submitting your $200 loan request:

Full age
Proof of a steady income source like employment or benefits
Valid government-issued photo ID (driver’s license, passport, etc.)
An active checking account for loan deposit and repayment
Valid phone number and email address
Proof of residency (utility bill, lease agreement, etc.)

Some lenders may perform soft credit checks – this does not have an effect on your credit score. So, your credit is not an essential factor for approval, and poor-score borrowers can be approved as well.

Complete the loan request form with accurate information. If you are after an online payday loan, make sure you are applying through a secure platform. We will focus on this in the next section.

When emergencies hit and money is short, we can help.

Click here if you need money now.

Fast and secure online application

Most lenders offer fast and secure online applications, but there are scammers out there. To avoid scams and make sure that you submit a secure application:

Research the lender beforehand to ensure they are legitimate. Look at their ratings and reviews on platforms like the Better Business Bureau to see how they handle complaints.
Make sure the lender’s website has proper security measures in place. Look for a lock icon in the browser’s address bar, which indicates that the site has a valid SSL certificate and that your information will be transmitted securely.
If you need to submit documents, ensure that the lender has secure methods for document transfer, such as encrypted portals or secure file-sharing platforms.
Only submit your application over a secure network. Avoid using public networks, as they may not be secure and can increase the risk of interception of your sensitive information.

By following these tips, you can help protect your personal and financial information when applying online.

Do you need a little extra to tide you over?

Discover three cash advance apps that can help.

Frequently asked questions

1. How can I borrow $200 instantly?

To get cash fast, consider paycheck advance apps that send money in minutes for a small fee. Alternatively, use a credit card for a cash advance, visit a payday loan provider, or ask friends or family for a quick loan. Ensure you understand any fees or interests charged before you borrow.

2. What cash advance app lets you borrow $200?

Several apps let you borrow $200, including EarnIn, Current, and Brigit. The exact amount you’re allowed to borrow depends on your income and other criteria.

3. Where can I get $200 dollars fast?

You can get a fast loan from paycheck advance apps, online lenders, or payday lenders. Pawnshop loans, car title loans, and credit card cash advances are other options for instant loans. Always check the total cost – fees, and interest rates – before proceeding to be sure that you can repay the money as agreed.

4. What are same-day funding options?

Same-day funding options include payday loans, pawnshop loans, cash advance apps, and online lenders. These services offer quick application processes and rapid disbursement of funds, often within hours. Alternatively, you can look into buy now, pay later apps or borrow from friends and family.

5. I need $200 now, but I have poor credit.

If you need $200 now but have bad credit, consider no credit check instant loans. These include payday loans, pawnshop loans, or borrowing from friends and family. While some choices may have high fees, they can offer quick cash without a credit check.

Bottom line

A $200 instant loan can be useful when you have bills to pay and no cash to cover them. The problem is that these loans often come with high costs and short repayment periods, which can lead to a worse financial situation. Carefully consider all your options and the potential consequences before borrowing money. Explore alternatives, shop around for the best rates, and borrow responsibly to avoid getting trapped in a cycle of debt.

1. Paycheck Advance is For eligible customers only. Your actual available Paycheck Advance amount will be displayed to you in the mobile app and may change from time to time. Conditions and eligibility may vary and are subject to change at any time, at the sole discretion of Finco Advance LLC, which offers this optional feature. Finco Advance LLC is a financial technology company, not a bank. Expedited disbursement of your Paycheck Advance is an optional feature that is subject to an Instant Access Fee and may not be available to all users. Expedited disbursements may take up to an hour. For more information, please refer to Paycheck Advance Terms and Conditions.

2. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group, Member FDIC, and Cross River Bank, Member FDIC. The Current Visa® Debit Card is issued by Choice Financial Group pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted. The Current Visa® secured charge card is issued by Cross River Bank pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted. Please see the back of your Card for its issuing bank. Current Individual Account required to apply for the Current Visa® secured charge card. Independent approval required.

3. Individual results may vary. Using your credit card responsibly may allow you to improve your credit score. Credit building depends on various factors, including your payment history, credit utilization, length of credit history, and other financial activities.

4. Faster access to funds is based on comparison of traditional banking policies and deposit of paper checks from employers and government agencies versus deposits made electronically. Direct deposit and earlier availability of funds is subject to timing of payer’s submission of deposits.

5. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Funds held in Savings Pods are FDIC-insured on a pass-through basis up to $250,000 at our partner bank Choice Financial Group, member FDIC

6. Actual overdraft amount may vary and is subject to change at any time, at Current’s sole discretion. In order to qualify and enroll in the Fee-Free Overdraft feature, you must receive $500 or more in Qualifying Deposits into your Current Account over the preceding 30-day period. For more information, please refer to Fee-free Overdraft Terms and Conditions.

7. You may earn Points in connection with your everyday spending and by completing other actions that Current designates as subject to the Current Points Program. The amount of Points granted for different actions as well as the purchase requirements necessary to earn Points will vary, and is subject to Current’s sole discretion. After qualifying, please allow 3-5 business days for points to post to your Current account. The Current Points program is not available to Teen Account holders. See Current Points Terms and Conditions.

8. Some fees may apply, including out of network ATM fees of $2.50 per transaction, late payment fees of 3% of any total due balance outstanding and past due for two or more billing cycles, foreign transaction fees of 3% of the full transaction amount (minimum $0.50), card replacement fees per card of $5 for regular delivery and $30 for expedited delivery, cash deposit fees of $3.50 per deposit, and third party processing fees.

9. Boost Bonuses are credited to your Savings Pods within 48 hours of enabling the Boost feature and on a daily basis thereafter, provided that the Savings Pod has accrued a Boost Bonus of at least $0.01. The Boost rate on Savings Pods is variable and may change at any time. The disclosed rate is effective as of August 1, 2023. Must have $0.01 in Savings Pods to earn a Boost rate of either 0.25% or 4.00% annually on the portion of balances up to $2000 per Savings Pod, up to $6000 total. The remaining balance earns 0.00%. A qualifying direct deposit of $200 or more is required for 4.00%. No minimum balance required. For more information, please refer to Current Boost Terms and Conditions.

10. Cryptocurrency services are powered by Zero Hash LLC and Zero Hash Liquidity Services LLC, and may not be available in all states. Terms and conditions apply. When you buy or sell cryptocurrency, a difference between the current market price and the price you buy or sell that asset for is called a spread. However, unlike most other exchanges Current does not charge an additional trading fee. Cryptocurrency transactions are a form of investment, and all investments are subject to investment risks, including possible loss of the principal amount invested. Cryptocurrency is not insured by the FDIC or any other government-backed or third-party insurance. Your purchase of cryptocurrency is not a deposit or other obligation of, or guaranteed by, Choice Financial Group or Cross River Bank. The cryptocurrency assets in your Zero Hash account are not held at Current, Choice Financial Group, or Cross River Bank. Current, Choice Financial Group, and Cross River Bank are not responsible for the cryptocurrency assets held in any Zero Hash account. Neither Current, Choice, nor Cross River Bank is involved in the purchase, sale, exchange of fiat funds for cryptocurrency, or custody of the cryptocurrencies. Terms and Conditions apply (platform and user agreements). Crypto on Current is not currently available in HI. Licensed to engage in Virtual Currency Business Activity by the New York State Department of Financial Services. This does not constitute investment advice.

11. Current is a financial technology company, not a bank. Banking services provided by Choice Financial Group. Your money is FDIC-insured on a pass-through basis up to $250,000 at each of our partner banks, Choice Financial Group and Cross River Bank, members FDIC.

12. Average value based on Fine Hotels + Resorts bookings in 2023 for stays of two nights. Benefits include daily breakfast for two, room upgrade upon arrival when available, $100 amenity, guaranteed 4PM late checkout, and noon check-in when available. Certain room categories not eligible for upgrade. $100 amenity varies by property. Actual value will vary based on property, room rate, upgrade availability, and use of benefits.

13. Up to $500 per Covered Trip that is delayed for more than 6 hours; and 2 claims per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

14. The maximum benefit amount for Trip Cancellation and Interruption Insurance is $10,000 per Covered Trip and $20,000 per Eligible Card per 12 consecutive month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

15. Baggage Insurance Plan coverage can be in effect for Covered Persons for eligible lost, damaged, or stolen Baggage during their travel on a Common Carrier Vehicle (e.g. plane, train, ship, or bus) when the Entire Fare for a ticket for the trip (one- way or round-trip) is charged to an Eligible Card. Coverage can be provided for up to $2,000 for checked Baggage and up to a combined maximum of $3,000 for checked and carry-on baggage, in excess of coverage provided by the Common Carrier. The coverage is also subject to a $3,000 aggregate limit per Covered Trip. For New York State residents, there is a $2,000 per bag/suitcase limit for each Covered Person with a $10,000 aggregate maximum for all Covered Persons per Covered Trip. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

16. Car Rental Loss and Damage Insurance can provide coverage up to $75,000 for theft of or damage to most rental vehicles when you use your eligible Card to reserve and pay for the entire eligible vehicle rental and decline the collision damage waiver or similar option offered by the Commercial Car Rental Company. This product provides secondary coverage and does not include liability coverage. Not all vehicle types or rentals are covered. Geographic restrictions apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.

17. Coverage for a Stolen or damaged Eligible Cellular Wireless Telephone is subject to the terms, conditions, exclusions, and limits of liability of this benefit. The maximum liability is $800, per claim, per Eligible Card Account. Each claim is subject to a $50 deductible. Coverage is limited to two (2) claims per Eligible Card Account per 12 month period. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

18. When an American Express® Card Member charges a Covered Purchase to an Eligible Card, Extended Warranty§ can provide up to one extra year added to the Original Manufacturer’s Warranty. Applies to warranties of five (5) years or less. Coverage is up to the actual amount charged to your Card for the item up to a maximum of $10,000; not to exceed $50,000 per Card Member account per calendar year. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

19. Purchase Protection is an embedded benefit of your Card Membership and requires no enrollment. It can help protect Covered Purchases made on your Eligible Card when they’re accidentally damaged, stolen, or lost, for up to 90 days from the Covered Purchase date. The coverage is limited to up to $10,000 per occurrence, up to $50,000 per Card Member account per calendar year. Coverage Limits Apply. Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

20. Chime is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.

21. The secured Chime Credit Builder Visa® Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa credit cards are accepted.

22. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A., Members FDIC, pursuant to a license from Visa U.S.A. Inc. and may be used everywhere Visa debit cards are accepted.

23. The Annual Percentage Yield (“APY”) for the Chime Savings Account is variable and may change at any time. The disclosed APY is effective as of September 20, 2023. No minimum balance required. Must have $0.01 in savings to earn interest.

24. There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.

25. To apply for Credit Builder, you must have received a single qualifying direct deposit of $200 or more to your Chime Checking Account. The qualifying direct deposit must be from your employer, payroll provider, gig economy payer, or benefits payer by Automated Clearing House (ACH) deposit OR Original Credit Transaction (OCT). Bank ACH transfers, Pay Anyone transfers, verification or trial deposits from financial institutions, peer to peer transfers from services such as PayPal, Cash App, or Venmo, mobile check deposits, cash loads or deposits, one-time direct deposits, such as tax refunds and other similar transactions, and any deposit to which Chime deems to not be a qualifying direct deposit are not qualifying direct deposits.

26. Money added to Credit Builder will be held in a secured account as collateral for your Credit Builder Visa card, which means you can spend up to this amount on your card. This is money you can use to pay off your charges at the end of every month.

27. Based on a representative study conducted by Experian®, members who made their first purchase with Credit Builder between June 2020 and October 2020 observed an average FICO® Score 8 increase of 30 points after approximately 8 months. On-time payment history can have a positive impact on your credit score. Late payment may negatively impact your credit score.

28. On-time payment history may have a positive impact on your credit score. Late payment may negatively impact your credit score. Chime will report your activities to Transunion®, Experian®, and Equifax®. Impact on your credit may vary, as Credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations.

29. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. We generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

30. SpotMe® on Debit is an optional, no fee overdraft service attached to your Chime Checking Account. To qualify for the SpotMe on Debit service, you must receive $200 or more in qualifying direct deposits to your Chime Checking Account each month and have activated your Visa debit card. Qualifying members will be allowed to overdraw their Chime Checking Account for up to $20 on debit card purchases and cash withdrawals initially but may later be eligible for a higher limit of up to $200 or more based on Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. The SpotMe on Debit limit will be displayed within the Chime mobile app and is subject to change at any time, at Chime’s sole discretion. Although Chime does not charge any overdraft fees for SpotMe on Debit, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe on Debit will not cover any non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. SpotMe on Debit Terms and Conditions.

31. Tipping or not tipping has no impact on your eligibility for SpotMe®.

32. Out-of-network ATM withdrawal fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

33. Save When I Get Paid automatically transfers 10% of your direct deposits of $500 or more from your Checking Account into your savings account.

34. Round Ups automatically round up debit card purchases to the nearest dollar and transfer the round up from your Chime Checking Account to your savings account.

35. Mobile Check Deposit eligibility is determined by Chime in its sole discretion and may be granted based on various factors including, but not limited to, a member’s direct deposit enrollment status.

36. Funds are automatically debited from your Checking Account and typically deposited into the recipient’s Checking Account within seconds. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed.

37. Pay Anyone transactions will be monitored and may be held, delayed or blocked if the transfer could result in fraud or another form of financial harm. Sometimes instant transfers can be delayed. Non-Chime members must use a valid debit card to claim funds.

* EarnIn is not available for Connecticut residents

Rachel Alulis

Rachel Alulis has been the lead editor for Moneyfor’s credit cards team since 2015 and for the financial rewards team since 2023. Before joining Moneyfor, Rachel worked at USA Today and the Des Moines Register. She then established a successful freelance writing and editing business specializing in personal finance. Rachel holds a bachelor’s degree in journalism and an MBA.

How to Borrow $200 Dollars Now