$500 Loan for Bad Credit | Apply Online Now

$500 Loan for Bad Credit with No Credit Check

Need fast 500 dollars and can’t wait for a bank or a credit union approval? Request a $500 loan for bad credit today and get money in your checking account the next business day! Even with a low credit score, you can pay your medical bills and other emergencies with small-dollar loans!

How Does a 500-Dollar Loan Work?

A 500-dollar loan is a payday loan usually borrowed for a short period to pay for unexpected costs. For example, you can take a cash advance loan with bad credit to cover medical expenses, car repairs, and other emergencies.

$500 cash advance loans are available even for borrowers with poor credit histories. Most lenders make only soft credit checks which don’t affect your credit report. Therefore, almost everybody can get quick money to pay for emergencies.

How Can I Take a $500 Loan with Bad Credit?

Magnolia Payday Loans helps bad credit borrowers get a $500 loan. However, you need a steady income that shows a lender you can repay the money. Loan providers want to be sure that they will get their money back. So, they usually ask for proof of your income and other documentation.

Borrowers with bad credit can get a $500 loan on good terms if they consider the following tips:

Find a co-signer. If your income is too low, you should find a co-signer. It can be your family member or a friend. Co-signers will pay your debt to a lender if you fail to return it.

Check your credit report. Some lenders may ask you for a credit report. Therefore, check whether it has no mistakes. A good credit report may help you get a loan on better terms.

Compare different lenders. Loan conditions depend on the lender. So before applying, analyze all available options and choose the one with the best terms. However, if you apply at Magnolia Payday Loans, you don’t need to look for the most profitable loan option. We will connect you with a reliable direct lender, and you can get a loan on the most beneficial terms.

How to Apply for a 500-Dollar Payday Loan?

Payday loans have a very quick application process. It usually takes five simple steps.

  1. You fill out an online form on our website;
  2. We will send your application to multiple lenders;
  3. After approval of your loan request, a lender will contact you;
  4. You read carefully and sign a loan agreement;
  5. Money is deposited in your bank account the next business day or the same day.

Benefits of $500 Payday Loans Online

Borrowers with poor credit scores usually have problems getting a bank or credit union loan. So, consider $500 short-term loans if you need quick money. They have many advantages over other loan forms.

Online application. You can get a 500-dollar payday loan without leaving your home! The whole application process is online. You fill out an application form and sign a loan agreement digitally.

Fast money. Payday loans are an excellent option for emergencies. Your loan request can be approved by a lender almost instantly, and funds will be sent in one lump sum to your account the next business day.

No hard credit check. A bad credit borrower can get a small loan because a $500 loan online doesn’t require credit checks from major credit bureaus. Instead, payday loan providers make a soft credit check that doesn’t affect your credit score.

Safe loan. We cooperate only with reliable direct lenders. So you can be sure that your application is fully secure.

Disadvantages of a $500 Loan

A $500 cash advance loan is not always the right option. Take into account all disadvantages before requesting a payday loan.

Expensive loan. Payday lenders charge you high fees. A payday loan’s APR is usually too high – around 400% while in the case of personal loans, it averages 11%. The fees are at the lender’s discretion and depend on your credit score. Generally, you need to pay interest rates of $10-$30 for each borrowed $100.

Easy to get into the debt cycle. Because of a high APR, a borrower is more likely to have problems repaying a debt. So, often after taking a payday loan, people may apply for other loans to return the previous one.

$500 Payday Loans – Eligibility Requirements

Most Americans can get a $500 payday loan effortlessly. You only need to meet these eligibility criteria.

  • Be a U.S. citizen or permanent resident;
  • Be at least 18 years old;
  • Prove a source of stable income;
  • Have an active checking account;
  • Have a mobile phone and email.

The criteria may differ in particular states. So, before applying for a payday loan, learn your state’s regulations.

Where Can I Borrow 500 Dollar Loans?

If you need a 500-dollar loan, consider the following options.

Traditional Banks

The most common place to get a loan is a bank. This is a safe and reliable way to get cash if you don’t want to risk it, but the approval of your request may take too long.

Credit Unions

A credit union allows you to get cash quickly and with lower fees. But you need to be a credit union member to borrow a 500-dollar loan from there.

Online Lenders

If you need fast cash, a loan from an online lender can be your most suitable option. Online loan providers do not require collateral or high credit scores. Magnolia Payday Loans works only with reliable direct lenders and will find a loan provider with favorable terms for you!

500 Dollar Loan Options

Consider all the options to get a $500 loan with no credit check and select the most suitable one for you.

Payday Loans

You can get money quickly and repay a debt by your next paycheck with a $500 payday loan. It is the simplest and, at the same time, the most expensive option. Payday loans have the highest fees. So, be ready to repay more than you have borrowed.

Installment Loans

If you can’t repay the whole loan amount by your next payday, consider a 500-dollar loan with monthly payments. The repayment time is usually from 2 to 24 months. This option is more secure and convenient for borrowers.

Car Title Loans

A car title loan is a secured loan where a loan provider needs collateral. In this loan form, the collateral is your car. Getting a car title loan is usually much easier, even with a bad credit score. But at the same time, it is riskier for a borrower. You may lose your car if you fail to repay funds.

Fast Cash Within a Day! Fill out the Application Form for a $500 Loan


  1. Is It Possible to Get a Payday Loan with No Credit Checks?
    Yes, it is. One of the main advantages of $500 loans with no credit check is their high chance of approval. Lenders do not report to credit bureaus and make only soft credit checks. So, if you have poor credit scores but meet all the lender’s requirements, you will get approval for your request.
  2. How Much Do $500 Loans Cost?
    $500 loans are expensive loan forms. You need to pay interest rates of $10-$30 for every borrowed $100. So, if you apply for a 500-dollar loan, be ready to return $550-$650. Note that you will also be charged for late payments.
  3. I Need a $500 Loan Now. How Can I Get It?
    If you need a $500 loan today, you should send a request by noon. Online direct lenders usually approve an application within 5 minutes. So, you can get cash on the same day.
  4. I Can’t Repay a Payday Loan. What Should I Do?
    You need to negotiate with a loan provider if you borrow cash and can’t repay it. Generally, lenders allow you to pay later. However, avoid late payments because you will need to pay extra fees for them. A lender can also report your account to debt collection agencies. It can negatively affect your credit score. As a result, lenders may reject your future loan requests.
  5. Do I Need Collateral for a 500-dollar Loan?
    A $500 payday loan is unsecured, so a lender doesn’t require collateral from a borrower. Instead, you need to show a loan provider your steady income source.
  6. Can I Get a 500-dollar Loan with No Job?
    Yes, you can. Unemployed people can get payday loans, but you need to show a lender your regular income: alimony, pensions, social security, or others.
  7. I Need $500 by Tomorrow. What Should I Do?
    You can apply for a payday loan and get money the next working day. Fill out the application form, and get a quick response from a loan provider.