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700 dollar loan

Get a $700 Loan with a Soft Credit Check

$700 Loan even with Bad Credit

In unexpected situations, a 700 dollar loan can save your budget. Don’t want to deal with traditional lenders that always deny you because of your bad credit? Know that multiple options help you take out $700 loans with no credit check. At 15M Finance, you’re always welcome to get a 700 dollar loan with a same-day approval decision.

What Is a $700 Loan?

A $700 loan is a short-term payday loan with a 30-day repayment period. In contrast to a personal loan, a $700 loan can reach your bank account in as little as one business day, with the subsequent need to repay the loan within 30 days.

See also: Comparing cash advance vs payday loan: understanding the differences

What Is The Cost of $700 Loans?

Like most payday loans, $700 loans have a cost that is expressed in flat fees, not percentages of the loan amount. Thus, your direct lender will ask you to pay an additional $10 to $30 for each $100 you obtain. The exact charge will depend on the lender and your credit score.

Representative example

If you’re going to borrow $700 for 14 days, your total loan cost can be between $770 and $910, with the lender’s fees between $70 and $210. To compare these loans with conventional options, we need to calculate an annual percentage rate by following a few steps:

Steps Examples
1. Divide your loan fees by the principal loan amount 70 / 700 = 0.1
210 / 700 = 0.3
2. Multiply the result by 365 0.1 * 365 = 36.5
0.3 * 365 = 109.5
3. Divide the result by the number of days of maturity 36.5 / 14 = 2.607
109.5 / 14 = 7.821
4. Multiply this number by 100 2.607 * 100 = 260.7%
7.821 * 100 = 782.1%

Thus, an APR for your loan can be between 260.7% and 782.1%. This differs significantly from an interest rate on traditional loans, which is usually between 5.99% and 35.99%.

Can I Borrow a $700 Loan with Bad Credit?

Sure, you can! Your credit history is not the factor that plays a key role when a lender makes an approval decision. Payday lenders are bad credit-friendly. That is why they are not focused on borrowers’ credit ratings when lending you a $700 loan for bad credit. Instead, they pay attention to their monthly income amounts. Thus, if you confirm a steady income and meet other eligibility criteria, it won’t be a challenge for you to get loan approval.

Fill out a loan request form

You can do it online from anywhere in the country and spend just a few minutes completing it.

Wait for a notification from a direct lender

We share your loan application details through a secure connection in order to link you with the right service provider. It will make a soft credit check and send you a response via email. The whole process typically takes less than one hour.

Accept a loan offer

If the lender sends you a positive loan decision, you should review your loan agreement carefully and sign it if the loan terms meet your expectations.

Get emergency cash

The lender will transfer money to your specified bank account as soon as the next business day.

get a 0 loan with no hard credit check

What Are The Eligibility Criteria for a $700 Payday Loan?

Direct lenders from different states have various requirements while lending you a $700 payday loan. It all depends on the state’s regulations. However, you can expect to get almost instant approval if you meet these common eligibility requirements:

Not younger than 18 years old; Can provide your bank account information; Have a regular monthly income that you can confirm; Be a permanent US resident with a valid cell phone number and email.

See also: Find out more about allotment loans for postal employees with bad credit

Need 700 Dollars Now? We Can Help!

Even if you’ve been turned down by a bank or credit union, 15M Finance is always here to help you make it to your next paycheck. We’re aimed at providing people with the money they need without the hassle of traditional personal loans.

Our straightforward application process and fast funding can meet your urgent money needs without damaging your credit score. Press the “Apply now” button and receive your 700 dollar loan as soon as the next business day.


Does Getting a $700 Loan Involve a Hard Credit Check?

Obtaining a $700 loan doesn’t involve hard credit checks. Although lenders can make soft pulls to estimate your creditworthiness, these forms of inquiry don’t affect your credit score.

How Fast Can I Get 700 Dollar Payday Loans?

A $700 loan is a type of emergency cash loan that prioritizes fast funding. Thus, most lenders strive to transfer the money by the end of the next working day. Some of them can also offer same-day funding for those who apply early in the morning on a weekday.

What Expenses Can I Cover with the Help of a $700 Loan?

A $700 loan can be used for any personal needs you have. However, as they are pricey, people usually use them to cover urgent bills, such as medical expenses, car repairs, or utilities.

Can I Get a 700 Dollar Loan Without a Bank Account?

Most direct lenders require borrowers to have an active bank account because they send loans through a direct deposit. However, some loan companies may offer physical checks or prepaid debit cards for consumers without a checking account.

How Can I Boost The Chances of My Loan Request Being Approved?

Yes, you can improve your credit score, income, or general financial situation by making on-time payments on your credit cards or utility bills. Also, you can increase your income by taking part-time jobs.

What Happens If I Can’t Repay My Payday Loan on Time?

You can expect the lender to rely on collection agencies, including repeated calls and letters requiring payment. If you don’t do it anyway, they can seize you in court.

Kayla Harris

by Kayla Harris

Last updated on April 29, 2024