Suppose you’re thinking, “I need a 700-dollar loan“. You’re in the right place. Such loans are a quick solution to cover emergency costs until payday but approach them cautiously. The following detailed guide covers everything about high-interest, short-term emergency loans.

What are Quick 700 Dollar Loans and How Do They Work?

700 dollar loans, sometimes called payday loans, range from $100 to $1000, including the specific $700 loan amounts. Developed to provide quick 700 dollar loans before your next paycheck, they come in handy when faced with unforeseen expenses.

Here’s a rundown on how 700-dollar payday loans function:

Start by visiting the lender’s website for an online loan or physically go to a store. As part of the loan application process, fill out the form with your details, monthly income data, and bank account information. Numerous direct lenders advertise loan approvals in just a few minutes.

You’ll receive the borrowed amount instantly or within one business day if your application is successful. The direct deposit is either in cash (if in-store), funds transferred into your bank account, or a cheque to cash.

Full repayment terms, including fees and interest, are generally due by your next payday, within 2-4 weeks. The lender retrieves the repayment amount by automatically withdrawing it from your account or cashing the post-dated cheque you provided with the loan application.

You have the option to extend the due date through a process known as “rolling over” the loan. It attracts more fees and keeps the interest accruing, so avoid it if necessary.

700-dollar loans provide quick cash, even for poor or bad credit scores, since qualifications depend on income verification and identification rather than credit checks. Yes, it’s easier to secure a 700 dollar loan with bad credit or a 700 dollar loan no credit check. But be mindful that such convenience doesn’t come cheap.

Costs and Fees to Expect with a 700 Dollar Loan Today

700-dollar payday loans usually pose higher interest rates and charges than longer-term installment loans and credit cards. Listed below are the standard costs:

Interest rates

  • Payday lenders usually charge an annual percentage rate (APR) of 400% or more. At 400%, a $700 loan settled after 14 days attracts roughly $58 as interest.

Finance charges

  • The fixed costs, a $15 fee for every $100 borrowed, help the loan providers cover operational costs. Getting a 700 dollar loan today means a $105 finance fee is applicable.

Rollover fees

  • You must shoulder extra fees if you decide to roll over the loan to a new due date. It is part of the loan agreement and is calculated similarly to the finance charge—around $45 for every $100 borrowed. Rolling over a $700 loan once results in about $315 in fees.

NSF fees

  • Invalid bank funds during a loan repayment withdrawal attempt lead to a non-sufficient (NSF) fee of $25 or more.

Late fees

  • Late loan repayments attract late payment fees, usually around 5% to 10% of the outstanding balance. It is especially inconvenient when dealing with urgent bills.

Collection fees

  • In case your loan goes to collections after defaulting, expect to deal with extra loan company fees on top of the damage to your credit, even more so if you have a bad credit history.

Inspect the full fee structure before committing to a loan online, especially a 700 dollar loan today. Various loan options have different charges, making the cash advance loan expensive, notably over extended loan repayment periods.

Eligibility Requirements for a 700 Dollar Loan with Bad Credit

700 dollar payday loan providers have more lax approval criteria compared to more traditional lenders like banks and credit unions:


  • All applicants must be at least 18 years old in most states. A few states require borrowers to be 21 years or older.


  • Reliable lenders require a source of income from a job, self-employment, or other regular income sources. The exact minimum amounts differ by lender.

Bank account

  • The lender requires an active checking account to deposit the funds and withdraw the loan repayment.


  • You must present a valid government-issued photo ID, such as a driver’s license or passport.

Contact information

  • Your loan online application must include your current phone number, home address, and a valid email address.

As long as you satisfy the requirements and your lender verifies your details, your loan offers from reliable lenders will likely get approved. Even people with a bad credit history still obtain unsecured loan since credit scores are usually not checked for smaller loans.

Pros and Cons of Getting a 700 Dollar Loan No Credit Check

Assess thoroughly the following pros and cons before sending an application for a payday or cash advance loan:


  • Loan options like installment loansunsecured loans, and others
  • Flexible payment options facilitating manageable repayments
  • Fast and accessible solution for urgent bills


  • Swift approval and funding, sometimes with same-day loans
  • Loan proceeds are available directly to your bank account or as quick cash
  • Offers loans without credit checks, making it accessible to bad credit borrowers with a poor credit history
  • A viable solution for handling immediate medical expenses or urgent expenses between paychecks


  • Exorbitantly high APRs and numerous hidden fees
  • Short duration to repay, within 14-30 days
  • Rollover fees increase rapidly if extended
  • Potential to worsen an already poor credit rating
  • Not a sustainable, long-term financial solution

700 dollar loans or bad credit loans like secured loanshigh risk loans, and title loans are worth assessing despite their higher costs for people with a poor credit history or limited financial choices. Habitual dependence on them escalates debt burdens.

Alternatives to Evade High Fees with a 700 Dollar Loan

Given the hefty rates on 700-dollar payday loans or quick loans, a few noteworthy alternatives to explore include:

Credit union loans

  • Credit unions extend affordable short-term loans with APRs capped at 28%. Loan terms are, by nature, more extended.

Credit cards

  • Introductory 0% APR cards allow extended, interest-free repayments spread over months.

Employer cash advances

  • A few companies extend emergency employment status-based pay advances to be realized against future paychecks.

Payment plan extensions

  • Liaising with utility companies, landlords, and other creditors directly to request deferment/extension of payments.

Borrow from family and friends

  • An interest-free loan from loved ones bypasses fees but requires initial discussion about the terms.


  • Personal fundraising campaigns are an option for hospitalization/serious illness bills, burial costs, or other large-scale expenses.

Non-profit and charity assistance

  • Entities like United Way provide urgent extra cash grants and low-interest loans.

A bit of research reveals that more economical alternatives are usually available for tiding over between pay cycles. Resort to 700 dollar loans or quick loans only as a last resort.

Tips for Responsible Borrowing When You Need a 700 Dollar Loan

In case you resort to a 700-dollar payday loan or online loan, here are a few pointers to keep expenses low:

  • Avail only the amount you are able to afford to repay with your next salary comfortably. Refrain from borrowing the maximum offered.
  • Fill out the online application form carefully and precisely. Go over the monthly payments details.
  • Have a realistic repayment plan ready, and prioritize the loan payment in your budget.
  • Choose reputable lenders and deny offers that seem suspicious or push unfair terms.
  • Read agreements thoroughly and get clarification from the lender on anything confusing.
  • Avoid extending or rolling over the loan unless necessary. Extensions rack up fees rapidly.
  • Pay back as much as necessary, even if you can’t repay the full amount. Partial payments still reduce what you owe.
  • Contact the lender immediately if you anticipate any issues making a payment on time.
  • Build up emergency savings over time so you rely less on short-term borrowing during hardship.

700-dollar loans assist in getting through financial crunches between paydays when needed with careful planning and responsible use as a temporary solution.

Frequently Asked Questions About 700 Dollar Loan Guaranteed Approval

How fast can I get a 700 dollar loan?

Approval is as fast as a few minutes. After submitting an application, the lender verifies your income, bank account, ID, and other information electronically. As long as you meet eligibility criteria, you get the funds deposited or cashed the same day or the next business day.

Where can I get a 700 dollar loan?

Both online lenders and physical storefronts offer 700 dollar payday loans. Research interest rates and fees across multiple companies. Avoid lenders who aren’t transparent about full costs.

Can I get a 700 dollar loan with bad credit?

Yes, qualifying for a payday loan with poor credit or no credit history is easier. Such lenders do not check credit reports as part of approval. They confirm your ID, income, and active bank account instead.

What are the repayment options?

$700 payday loans for bad credit must be fully repaid by the defined due date, usually within 14 to 30 days from the date you receive the funds regarding the types of loans available. It includes more than the original amount borrowed – clients must cover all applicable fees and interest charges. The loan repayments, including any origination fees, are automatically deducted from your registered bank account, much like with fast payday loans and instant cash loans.

What happens if I can’t repay my loan on time?

Get in touch with your lender instantly if you anticipate difficulty making a full payment by the due date, similar to when dealing with quick payday loans. Many lenders providing types of loans like them allow one free rollover by extending the due date in exchange for a fee, much like cash advance loans. Defaulting on loan payments, including small payday loans online no credit check, must be averted to prevent collection calls and damage to credit score.

Can the loan be extended if needed?

Yes, most lenders allow you to renew or rollover your loan, similar to other loan type options like short-term loans, to the next payroll period for an extra fee. Rollovers, similar to cash advance loans, continue to accrue new interest charges, which augment your total repayment amount.

Are there prepayment penalties?

No, $700 payday loans, much like the best online payday loans, are repaid early without incurring prepayment penalties. Paying off your loan quicker reduces the total interest owed. Making a partial prepayment, like with no credit check loans, makes a difference.

How do payday lenders verify income?

Payday lenders offering instant cash loans or quick payday loans verify income through proof of income. It includes recent pay stubs, bank statements showing regular deposits, a letter of verification from your employer, or electronic payroll data. Tax returns, 1099s, or bank statements prove a stable income for self-employed applicants.

Can I get more than one payday loan at once?

No, getting multiple simultaneous payday loans, including small payday loans online no credit check, is unlikely. Lenders usually check a statewide database of existing payday loans when you fill out the loan request form, and they set limits per customer to prevent it. They utilize soft credit checks or incorporate minimum credit score requirements. Consequently, it’s not advisable to apply with multiple lenders.

Key Takeaways for Securing a 700 Dollar Loan Same Day

  • Payday loans online same day for 700 dollars offer brisk cash access but demand higher fees than alternatives such as bad credit personal loans.
  •  Qualification depends on attributes like income, age, ID, and a bank account instead of a credit rating for instant approval loans. They are bad credit loans guaranteed approval.
  •  Take note of the agreements carefully and borrow only an allowable loan amount that you are able to repay by the assigned date realistically.
  •  Prioritize the loan rates and explore low-interest alternatives first before resorting to the convenience of quick cash loans.
  •  Evade rolling over or extending the loans unless necessary as fees accumulate rapidly. In a few situations, you need a payday loan immediately.
  •  Cultivating emergency savings acts as a buffer, helping avoid instant payday loans in the first place.
  •  Payday advance options thus assist during financial emergencies if used responsibly as an infrequent solution.

Final Thoughts on Applying for a 700 Dollar Loan Direct Lender

700-dollar payday loans permit you to conveniently borrow money online instantly whenever cash exigencies appear between paychecks. Approach them prudently as a costly option of last resort.

The above guide furnished key data on eligibility requirements, positives, drawbacks, costs, and alternatives. It offers responsible usage advice for such type of loans. They are swift and handy; nevertheless, their competitive interest rates make them inappropriate as an ongoing financial practice. Inexpensive alternatives usually exist with a dash of planning, like unsecured bad credit personal loans.

But during absolute emergencies where other options have been drained, and you need money now, 700-dollar loans offer a transitory lifeline. Just be an informed borrower, fathom the fees, repay promptly, and use sparingly to prevent spiraling debt. The loans require rigorously managed expectations and disciplined borrowing habits compared to traditional loans. Therefore, they are an occasional buffer when your budget lacks flexibility.