Now and then, emergencies come up – and you need cash fast. What are the best ways to secure a loan on a tight deadline?

Payday Loan

Though these aren’t highly recommended, due to their high fees, a payday loan may be necessary. They best suit people in time-sensitive emergencies, like making sure you have enough to afford your copay for medicine.

Otherwise, it’s best to avoid this method. It can spiral into getting a payday loan every pay period, as you’ll need a payday loan to get to your next payday. As such, you’ll be working with less money until your next pay check; so on and so forth.

This method should only be used in emergencies and if you have no other way of getting a quick loan.

Friends and Family

Though not an official loan, you can sometimes rely on friends and family for a quick loan.

Only do this if you know you can pay them back fast and completely. After all, you don’t want to sour personal relationships or burn bridges you may need for support later in life.

Create a spreadsheet and keep track of everything you have borrowed. Add entries for every time you’ve paid them back, whether it’s in full or in small amounts, and keep track of everything. That way, you can ensure you’ve paid them back – and avoid the friend or family member feeling like they’re bothering you for repayment.

Cash Advance on Credit Cards

Depending on the limit of your credit card, you can receive a good sum of cash using your credit card – such as at an ATM to get a cash advance.

Though this has a fee attached to it, you won’t incur a high rate of interest, like other loans. At least, it won’t be higher than the current interest on your credit card.

If you choose this method, be sure you can pay back this loan quickly. Keeping a large balance on your credit card for too long can severely damage your credit score.

Personal Loans

Banks are good places for receiving an official loan. However, this method isn’t the fastest – often taking one to three days to get processed before you have access to the funds.

While this isn’t the fastest method, it is one of the safer options. It does require a credit check, but you avoid higher APRs, like those found in other fast loans.

Additionally, these loans are generally more than a couple hundred dollars – not a fast, small loan you need to access quickly. Depending on your needs, this may be a great option.

Pawn Shop Loan

Pawn shops can provide a loan the day you bring in your collateral. If you’re not in too much of a rush, you can shop around and compare different pawn shops for the best deal.

Pawn shops are a safe, fast, low-interest way to receive a loan. The interest isn’t based on a credit score, in case you have poor credit. Just ensure you have something expensive enough to set up as collateral.