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When you need a bit of extra cash to cover your costs for the month, a fast online cash loan is one of the most feasible and reliable ways of accessing funds right away.

In this post, we’ll be taking a look at 3 of the most popular methods that people are turning to when they need to borrow quickly.

Let’s start with:

Short-term loan (payday loan)

This is quickly becoming one the most popular ways for anyone to access money quickly regardless of your credit history. This is what we specialise in at Cigno Loans. The idea is that you get the funds you need as soon as possible, and you pay it back when you get your next payday. There’s no better way to access the money as quickly as possible. In the vast majority of cases, these fast online cash loans are paid out within hours of your application.

The application process is very straightforward and you can even get yours done through our website from your phone.

You’ll need a collection of your most recent bank statements and a government issued ID to complete the forms.

As mentioned, this is a great option if your current credit score is not in perfect shape. Normal loans are based on credit history, largely due to the fact that they involve terms that span years. Short-term loans are designed with terms that span weeks. So the most important thing to us, is that we can see you are in a position to pay back the loan comfortably within the time agreed. Proof of your current income is all the evidence we need, so we won’t have to spend time looking up your credit history. This makes the process much faster, and far less painful for everyone!  

P2P lending

Peer-to-peer lending has been increasing in popularity for years now. These are fast online cash loans that you receive from other people, as opposed to an established professional lender. It’s a little more complicated than simply taking a load of cash from a stranger. There is a range of P2P platforms out there that facilitate this system of borrowing.

These P2P platforms are like marketplaces, but instead of a buyer and a seller, the transactions are between borrowers and lenders. Any user that visits the site can be a lender. The P2P site essentially offers to act as the broker of credit deals between users. The main advantages of such platforms include favourable rates and decent delivery times, but it’s nowhere near as fast as the short-term loans described above.    

The application process for P2P is all done online and there’s a wealth of different sites to choose from, all of which offering slightly different terms, so it’s important to read up before you dive into anything. If you’re not that pressed for time, and are prepared to do your homework in order to save a few dollars, this might be a suitable option for you.     

Apply for a credit card online

This is bound to be the slowest of the three options we’re pointing out here, but it’s still likely to be much faster that applying for a personal loan from the bank. Taking credit cards from less established issuers has always had a bit of a negative cloud looming over it, so you’ll have to do some searching around to compare cards and find the one that ticks your most important boxes. The rising concerns surrounding online sales does suggest it’s becoming increasingly important to use credit cards for online purchases, so applying for a card can fulfill more than one purpose.

The question is; do you have the time to complete the process? Even in the best case scenarios, online credit cards can take days or weeks to arrive and become active. If your emergency needs to be sorted right now, this option won’t give you access to the cash quickly enough.

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That’s that! When you need a loan right away, these are the best options you have. Need the money today? A payday loan is the only way to achieve that kind of speed. Have a bit more time to play with and the patience to weigh up a sea of options to get the best deal? Then you can take a closer look at P2P lending or applying for a new card.