Get a Quick $400 Loan Online
If you face unexpected expenses and need 400 dollars to cover them quickly, our small loans can provide much-needed relief. At 15M Finance, you can apply for a $400 loan online, get instant approval, and receive your emergency money on the same day. Our process comes with no credit check, making it possible to obtain extra funds for people with bad credit. Just fill out a simple form and enjoy our direct lender options today.
Types of Loans for $400
There are several types of $400 loans you can access, each designed for different specific situations and needs.
Payday Loans
A payday loan is a short-term loan that allows you to take out up to $1,000. The money you borrow needs to be repaid after you receive your next paycheck, typically in 2 to 4 weeks. These loans are designed for small financial emergencies and can be deposited into your bank account within just 1 business day. They come with no minimum credit score requirements and require no credit check via major credit bureaus. However, they can be quite expensive.
Installment Loans
Installment loans are flexible financial solutions for people with bad credit who need money to cover big purchases or long-term needs. With their help, you can borrow up to $5,000 and repay the funds gradually in affordable installments over 2 to 24 months. While most lenders limit minimum installment loan amounts to $500 or $1,000, 15M Finance allows you to borrow as little as $400.
Car Title Loans
Car title loans are secured loans that provide you with financing against your vehicle. You can typically borrow up to 50% of your car’s price and repay the money in up to 30 days. Although your car is used as collateral, you’re still allowed to drive it while repaying the loan. Just keep in mind that your vehicle can be repossessed if you fail to repay the money with interest on time.
Loans via Cash Advance Apps
Cash advance apps are smart fintech solutions that allow you to access a portion of your future paycheck upfront. They offer small amounts, typically up to $500, based on what you already earned but haven’t yet received. The repayment is made by your next payday. Loans via apps are usually deposited within 1-2 business days. Although many products are interest-free, membership fees or express charges for instant deposits may apply.
Tribal Loans
Tribal loans are borrowing options offered by Native American or Indian tribe lenders who live and operate within their sovereign territory. Most tribal loans work similarly to payday loans, but installment loan options may also be offered. These products are not subject to state regulations, meaning that they may be offered even in states that prohibit regular payday lending. Additionally, they are often more expensive yet very accessible.
Payday Alternative Loans
Payday alternative loans (PALs) are made by credit unions as a reasonable alternative to regular payday loans. They come with more flexible repayment terms that can be between 1 and 6 months and have competitive interest rates capped at 28%. Although credit unions always perform hard credit checks, they still offer PALs to bad credit individuals. However, you need to be a CU member to access its products.
How to Borrow 400 Dollars Today
15M Finance offers a fast and simple way to get a $400 loan in just 3 steps. Here’s what you need to do:
Apply. Fill out an online loan request form via the website in just 5 minutes. You will only need to specify some basic personal and financial information.
Get approved. Our system processes applications quickly due to no hard credit check performed. You will typically get a loan decision in 15 minutes or less.
Receive the funds. If approved, read your loan agreement carefully to ensure all the terms suit you. If everything is fine, e-sign the loan contract. Then, you will receive the funds directly into your bank account within 24 business hours.
What Do I Need to Apply?
We strive to make our loans easy to obtain. Here’s what you need to fill out a loan form and qualify:
Reach the age of 18 Be a US legal citizen Provide your valid ID and SSN Have an active bank account in your name Provide proof of income and address Verify your employment status Specify your contact details
How Much Does a $400 Dollar Loan Cost?
The loan cost depends on the loan type you choose, the repayment period, and your creditworthiness. Payday loan APRs often exceed 400%, with an average lender’s fee ranging from $10 to $30 for each $100 borrowed. Thus, you can expect to repay $440 to $520 in total if you take out a $400 payday loan for 14 days.
Installment loans typically come with APRs between 16% and 200%. If you take out a $400 installment loan for 6 months at an APR of 89%, your monthly payment will be $85, while the total loan cost will reach $510.
How Will I Repay My $400 Loan?
Loans from 15M Finance come with an automatic repayment process for your convenience and reduced risk of late or missed payments. Depending on the loan type, you can choose to repay the funds either in full by your next paycheck or in fixed installments over 2 to 24 months.
On the maturity date, the amount due will be electronically withdrawn from the same account used to receive the loan funds. The due date will be specified in your loan agreement and is usually tied to your payday.
Risks and Concerns Regarding $400 Loans
A $400 loan can be lifesaving when you need money fast to cover emergency expenses. However, they come with several risks you need to consider before going into debt. As $400 loans are typically obtained by borrowers with bad credit, they often have high interest rates compared to traditional loan options. While conventional personal loans can cost from 5.99% to 35.99% per annum, small loans often come with APRs of over 400%.
Another risk is caused by their short repayment periods. As borrowers have limited time to repay the debt, they may experience financial struggles. This often leads to a cycle of debt where people need to extend the repayment period for extra fees or take out a new loan to cover the existing one. Therefore, you need to approach small loans with caution and only use them as a last resort when you face an extreme need.
Tips on Responsible Borrowing
At 15M Finance, we want to encourage you to make smart money moves and manage your debts and finances responsibly. Here are a few tips that will improve your borrowing experience and overall financial health:
Boost your credit. Good credit allows you to access more loan options at better terms. Although you can’t improve it overnight, take consistent steps toward it every day. Pay your loans and bills on time, don’t use more than 30% of your available credit limit, and maintain a diverse credit mix. Make sure you really need a loan. Small loans should only be used for emergencies, so be realistic about your loan purpose. You might not need to go into debt if you simply want to purchase unnecessary stuff or pay for something that can wait till your next paycheck. Borrow only what you need. Sometimes, lenders may approve you for a higher amount based on your income and credit profile. Even if it looks tempting, don’t get more than you really need so as not to overspend and accumulate more interest over time. Access your repayment capabilities. Make sure your current financial situation allows you to comfortably repay the loan over its entire life. Try to set aside your potential monthly payment amount for a few months to see how you can do without this sum. Budget. Budgeting is crucial to assess your current financial situation and always stay within your means. List all your income sources and mandatory expenses, including your loan payments, and see whether you can afford this new debt. Consider early repayment. By paying early, you can save money on interest and close your debt faster. Find some areas in your budget where you can cut off expenses and use any extra funds you receive toward your loan payments. Just make sure the terms of your loan agreement allow early repayment without penalties. Seek professional assistance. If you experience long-term financial troubles or are uncertain of whether you really need a loan, seek credit counseling or find other financial professionals for help.
Why Choose 15M Finance
15M Finance is a licensed lending company that has been offering fast and accessible small loans to people across the US since 2020. Our core values include transparency, security, personalization, and integrity. We strive to help people with any credit reach a better financial future by offering fair and easy-to-get loan products tailored to their unique needs. Here’s what you get when working with us:
Easy Application Process
You can fill out our simple application form right via the website in just 5 minutes. No paperwork or faxing is needed.
Fast Approval & Funding
Our loans come with no hard credit check, making it possible to provide you with an instant approval decision. If approved, the money will be deposited to you on the same or next business day.
Loans for Any Credit
We don’t set minimum credit score requirements and evaluate your overall financial situation when checking your data for eligibility. Borrowers with any credit can qualify for our loan as long as they can repay the money on time.
Data Protection
We keep your data safe using modern encryption protocols and security services. With us, all your sensitive information is protected.
Excellent Customer Support
Our team of professionals is always in touch to help you find the right loan option and answer all your questions. Whether you face a problem at the application stage or need more information about the product you choose, we’re here to assist.
FAQ
What maximum amount can I borrow with 15M Finance?
Loans from 15M Finance come with a maximum loan amount of $5,000. The sum you can qualify for will be determined based on your current income, credit score, and loan duration.
Do you offer loans in all states?
ASAP Finance operates throughout the US and fully complies with federal and state laws. We have 16 physical locations across California, Missouri, Ohio, Texas, and Wisconsin. If there’s no branch near you, don’t worry. You’re always welcome to apply online via the website or our convenient mobile app.
I need 400 dollars now. Where can I get money instantly?
You’re welcome to apply online now via the website. If approved, you will receive your $400 loan within 24 business hours. Try to apply before 10 AM on a weekday to increase the chance of a same-day deposit.
Are there any extra fees associated with my loan?
Besides a lender’s fee, you may also be charged an origination fee of up to 10% in some states. Its cost will be deducted from your initial loan amount. Additionally, you may face late fees and NSF fees if you don’t make your loan payment on time.
