Need $500 Fast? The Quickest Ways to Borrow $500
A $500 shortfall can feel just as stressful as a bigger one, especially when a bill is due before payday. Here are the fastest ways to borrow $500 and how to keep the cost low.
- A $500 installment loan at 35.99% over 6 months costs about $54 in interest.
- A rolled-over payday loan can cost $75 every two weeks on the same $500.
- Payment plans and employer advances are worth asking about first.
Fastest ways to get $500
| Option | Speed | Typical cost on $500 |
|---|---|---|
| Installment loan, 6 months at 35.99% | Next business day | About $54 in interest |
| Installment loan, 3 months at 35.99% | Next business day | About $30 in interest |
| Payday loan, $15 per $100 | Same day | $75 every two weeks if rolled over |
| Credit card cash advance | Instant | 3% to 5% fee plus interest from day one |
Why a $500 installment loan beats a payday loan
A payday loan asks for the full $575 back on your next payday. If that's not possible, rolling it over adds another $75 fee each time. A $500 installment loan at 35.99% over 6 months costs about $92 a month and roughly $54 in total interest, with no balloon payment. Read our full comparison: cash advance loan vs. payday loan.
Who can get a $500 loan?
Most adults with steady income and a checking account can qualify, including borrowers with bad credit. Smaller loans are often easier to approve. See the full Fast Loan Advance requirements.
Free or low-cost alternatives to try first
- Ask the company you owe for a short extension or payment plan
- Check whether your employer offers an earned wage advance
- Call 211 for local help with rent, utilities and food
- Sell something you no longer use
How to get $500 by tomorrow
- Apply early on a business day
- Have your ID and bank details ready
- Review and sign your offer right away
Need it now? See cash advance loans or start your request.
Frequently asked questions
How can I borrow $500 fast?
An online installment loan can deposit $500 as soon as the next business day. A credit card cash advance is instant but costs more.
What's the cheapest way to borrow $500?
Free options like payment plans or employer advances come first. Among loans, a short installment term usually costs less than a payday loan.
Can I get a $500 loan with bad credit?
Yes. Small loans are often approved for borrowers with fair or poor credit when income supports the payment.