Emergency Loan Process

Needing fast funding now but don’t know where to look? When you are in the middle of a financial crisis and need emergency loans, the last thing you want to do is shop around for different lenders. However, it is important to consider multiple lenders to make sure you are getting the best deal.

Max Cash® Title Loans is the #1 Nationwide Title Loan Referral Service that wants to find you the very best deal on emergency title loan funding.⁴ Since Max Cash does all the research for you, if you need emergency cash assistance, you can rest easy knowing you’ve made the most informed decision when it comes to which lender is right for you.^{2 5}

How Much Cash Should You Have On Hand For Emergencies?

Many financial experts recommend having at least 3-6 months’ worth of expenses in a savings fund in case you end up losing your job or running into unexpected bills. However, that is not feasible for everyone – especially when you live paycheck to paycheck. According to Forbes, over 70% of Americans live this way! If you can’t save enough money to protect yourself from the worst, then you may be searching for emergency loans to get back on your feet.

How Do I Qualify For Emergency Cash Assistance?

If you’ve found yourself in a tough financial emergency, an emergency cash advance may be a quick solution. However, like most consumers, you may not be sure how to apply for emergency cash assistance. If this is the case for you, then you’ve come to the right place.

An emergency loan is another name for a title loan, personal loan, or payday loan. You can borrow money through a loan from a financial institution such as a bank or other creditor. These types of loans assist consumers during challenging times by allowing them to get quick cash when they need it most.

At Max Cash Title Loans, we pride ourselves on our title loan service and we strive to make the application process as simple as possible. If you would like to start your title loan application form, simply fill out a brief online inquiry form or give us a call at 855-561-5626 today. From there, we can take care of the rest.^{2 5}

If you would like to learn more about where you can get an emergency cash loan and how to apply for one, continue reading below.

How Much Emergency Cash Can I Get?

It isn’t always possible to avoid a financial crisis. Life happens, and bills can get in the way of your budget. If you don’t have an emergency fund saved up, you might be searching for where you can find the right alternative loan. You might also wonder, how much emergency cash can I get?

You may be experiencing job loss, or high living expenses that are hurting your budget.

While it may be a stressful time, you have resources available to you! However, the amount of emergency cash you can get depends on the type of loan you decide to apply for. Other factors, such as your state of residence and the lender you decide to work with, can also impact your total loan amount.¹

Through title loans, you can access up to half or more of your car’s value!¹ The more your car is worth, the higher your loan amount can typically be – as long as you can prove that you are capable of making payments.^{1 5}

Through payday loans, you can often get up to $500 with no collateral required.

With personal loans, your loan amount is largely based on your credit history and income. If you do not use collateral, you may not get enough cash to solve your financial situation. Personal loans can typically be anywhere from a few thousand dollars to well over $20,000.

What is the Emergency Cash Loan Process?

Emergency funding can seem complicated at the surface, but when you are working with people who know what they’re doing, the process is really quite simple.

For emergency loans like title loans, the process can be broken down into three easy steps:

1. Send in Your Information – The first step of the emergency title loan process is to fill out a brief inquiry form with a few brief details about your vehicle, and your financial history. If you fill out the inquiry form online, you will know almost instantly if you are pre-approved or not. You can also call and give your information over the phone if you would like to discuss the initial process in more detail with a loan processing expert.
2. Send in Your Documents – After you have successfully filled out the inquiry form, your lender will most likely require a few documents before they can process your emergency title loan agreement. The basic required documents your title loan lender will usually ask for are a qualifying vehicle title, a few photos of the vehicle, proof of income, proof of residency, and a government-issued form of photo ID.
3. Sign Your Contract and Get Your Money – After your emergency title loan documents have been processed, your lender will then draw up your contract for you to sign. Before signing, it is important to discuss any details of the contract that need clarification with your lender, to make sure you understand everything. Your loan processor will be more than happy to explain the answers to any questions you may have.

When Is an Emergency Cash Advance Useful?

Searching for emergency loans to get fast financial help? Here’s some of the most common ways that people spend their loan proceeds:⁵

• Emergency Cash for Home Repairs
• Emergency Cash for Utilities and Bills
• Emergency Cash for Rent
• Emergency Cash for Plane Tickets and Travel Expenses
• Emergency Cash for Funerals

Why is It so Important to Have an Emergency Fund and Emergency Savings?

An emergency fund is a crucial financial tool for any person. As mentioned above, as a rule of thumb, you should keep at least three months’ worth of expenses in a savings account. This is in case of a job layoff, car repair, or other emergency situation that could leave you broke. A rainy-day fund is advised by all financial planners to keep you afloat in any situation.  If an emergency situation happens, having emergency savings could make all the difference in the world. It acts as a safety net for the short term. Life happens, and when it does, you want to be prepared for the worst financially.

You should build your emergency fund based on your income and expenses. If you have a financial advisor already, they can instruct you on the right way to build your cash reserves. If you do not, it’s not as complicated as you might think. Build up your emergency fund little by little! Take at least 10% from each paycheck and put it in a secure fund that you won’t touch. 

How Do I Get Emergency Cash if I Don’t Have Time to Save Money?

If you have a big purchase or repair coming up and you don’t have time to start saving money, there are options available to you in the form of a loan! With loan options like title loans, you could get emergency cash in as little as one business day, if approved.^{1 5} While you should work towards creating an emergency fund, you may not have the resources right now to do so- and that’s okay! Max Cash Title Loans is here to help you learn more about the emergency loan process.^{2 5}

How to Do an Emergency Cash Withdrawal

Using Your Debit Card or Credit Card for an Emergency Cash Withdrawal 

If you use MasterCard, VISA, American Express, or other credit card providers, you may wonder how you can use your card to obtain cash. There are a few resources that you can take advantage of as a credit card holder with a bank account.

A Credit Card Cash Advance

If you already have a credit card provider, one of your options can be to use your available account balance to obtain a credit card cash advance. A credit card cash advance will allow you to use your card at an ATM and select the cash advance option. 

Take your card number and see how much available credit you have available for a cash withdrawal. You may be able to access up to a certain percentage of your available credit if you have a credit limit with your ATM card. 

While a credit card cash advance is an easy way to obtain funding, there are often fees and separate interest rates to be mindful of. While most transactions with your credit card will have a grace period for interest, a cash advance does not. This means as soon as you obtain your cash advance, you will start paying interest on it. This is often not a problem if you are able to repay the advance as soon as you receive your credit card statement. However, if you are in an emergency situation, you may not have the means to pay back this cash service anytime soon. In that situation, a cash advance could be difficult to repay. 

Use Your Bank to Your Advantage 

If you bank at reputable banks such as Bank of America or Chase Bank, you may have the option to use your good standing there to obtain a loan. Many banks that offer services like checking accounts and savings accounts will also offer loan services to those who bank there. 

While often these loans are for mortgages, they can be personal loans as well. Personal loans can be an excellent option for those who are confident with their credit history, as they are unsecured loans that require an extensive credit check. If you are not as confident with your credit history, they may be difficult to obtain. 

Your bank may have other options you can take advantage of during difficult times. Many banks are offering financial help or alleviation, such as removing checking fees or deposit requirements per month for your savings accounts. Check with your bank representative by calling the branch location phone number in order to receive contactless services.

Other Emergency Loan Options to Consider

If you are struggling financially, there are other alternative loan options to consider. While you may need to weigh the pros and cons of each loan, they could be available to you:

Payday Loans:

This alternative loan option is meant to last you between paydays. If you live paycheck to paycheck, an emergency expense could set you back tremendously. 

Typically, with a payday loan, there will be no credit check. As a result, those with poor credit can receive approval. 

While this is a way to get fast cash during an emergency, there are some drawbacks to payday loans. Payday loans are fast to obtain, with some borrowers receiving their cash the same business day. However, they often come with high interest rates and fees, which make them almost impossible to repay. Most lenders will give you a very short time frame to repay the loan as well. If you are in an emergency situation, there are other loan options that could be considered.

HELOC, or Home Equity Line of Credit:

If you are a homeowner, you may have the option to tap into your home’s equity. A home equity line of credit, or a HELOC is a way for homeowners to slowly borrow funding from the equity in their home. Unlike a home equity loan, a HELOC can allow you to borrow in smaller increments. 

If you are in an emergency situation, you may be able to tap into the line of credit. While HELOCs are an excellent way to obtain funding, it is crucial for you to pay the payments on time to avoid losing your home.

Emergency Cash from the Government:

There are all kinds of government programs that can provide you with emergency cash. For most of these programs, eligibility will depend on a few factors. When it comes to coronavirus relief, eligibility is significantly more flexible. 

Here are some of the emergency cash programs that the government has in place to help individuals and families who are struggling financially:

Programs Focusing on Families

• TANF (Temporary Assistance for Needy Families)— TANF is a gov. program to help those who have defendants/children and are low income. TANF covers a broad range of necessitates. So much so, that there are a few help programs like SNAP benefits, under TANF. From food assistance to childcare and housing, temporary assistance for needy families can make the essentials possible for families who are financially struggling. 
• WIC —WIC provides nutritional help for pregnant women and children.
• Low-Cost HealthCare—for those who are low income, Medicaid and CHIP can be a cheaper alternative to healthcare.
• LIHEAP (Low-income Home and Energy Assistance Program)—LIHEAP can help families who are low-income and are struggling to pay their utility bills. 

Relief Focused on Employment / Work History

• The SBA (Small Business Association) — The SBA can help with all kinds of financial issues that small business owners face. From short-term help to long-term, so a small business can continue to grow. 
• Unemployment Benefits — If you are facing a job loss, layoff, or a significant cut in your hours, then unemployment benefits may help. In order to be eligible for unemployment benefits you must have not lost your job due to any fault of your own (including leaving voluntarily). Your local government’s office of unemployment can help you apply or get additional information. 
• Cash Programs for Veterans — The US Department of Veterans Affairs offers all kinds of assistance for veterans. No matter if you are a veteran facing homelessness, or a first-time homeowner, if you have served, this department is a good place to start for financial assistance.
• SSI (Social Security Income) — Social Security can help those who are over 65 and retired. 

Government Relief for Any American

• Your Local Department of Human Services— your local department of human services can connect you to helpful resources both on a national and local level.
• FEMA—FEMA is the government’s first response to disasters. They can help provide relief during an emergency, as well as help for the community afterward. 
• Resources from HUD (The Department of Housing and Urban Development)

How to Get Emergency Cash from a Direct Lender

Unexpected emergencies are upsetting for every consumer. Particularly if they are devastating for yourself or family members. An emergency cash direct lender is a company that provides customers with a short-term loan option for nearly any type of financial emergency. These types of companies may be able to help you get through difficult times. Additionally, one of the benefits of working with them is you can have a bad credit score and still be eligible.

What Do I Need to Get an Emergency Loan?

Wondering what you need to get an emergency loan? Upon initial approval for emergency loans, such as a car title loan, you only need a few documents handy before you can get your money. Most documents can also be emailed or even texted in to make the process even faster.

Many people regularly have these documents on hand, so you may have the required documents in your home already. If not, you may want to gather them now so the process can go as fast as possible after you initially inquire. The sooner you turn in your documents, the sooner you can get your money.

Generally, the required documents for emergency loans, such as a title loan, are:

• Vehicle Title – The vehicle title must be in the name of the person inquiring about the loan and must also be free and clear. However, if you still owe money on your car, we may still be able to help you out.
• Government-Issued Photo ID – A photo ID issued by the government, such as a driver’s license, state ID, or even a FOID card.
• Proof of Residency – Something to prove your place of residency, such as a lease agreement, utility bill, or mortgage statement.
• Proof of Income – A piece of documentation to confirm your income, such as a pay stub, bank statement, or tax documentation if you are self-employed.
• Several Photos of Your Car – Take a few photos of your car from multiple angles. Many lenders allow you to take the pictures directly from your cell phone and text them in.

A few other documents may be required simply for verification purposes, but those details will be brought to you directly from your emergency loan lender.

How Can I Get an Instant Cash Loan?

To get started on your emergency loan, you need to find the best lender. For emergency loans, such as car title loans, Max Cash Title Loans can be the best option if you’re trying to find the best deal. Max Cash Title Loans has an extended network of lenders across the United States, which means we can find the loan that works best for you.^{4 5}

To get started on the Max Cash Title Loan process to get your emergency title loan, you can fill out the short inquiry form online, give us a call or even text us at 1-855-561-5626, or email us at info@maxcashtitleloans.com.