How To Apply For a Loan With Dime Alley in 3 Steps :
Borrow Money Instantly For Emergencies and Everyday Purchases
Dime Alley offers an effective way to borrow money fast, whether you have a pressing emergency expense or an important purchase such as an engagement ring, starting a business or buying a new car.
Reports show that 57% of Americans cannot afford a $1,000 emergency expense and have no emergency fund in place.
We are able to offer small loans of just $300 or $500 or as much as $35,000 for important life purchases.
We offer a premium loans connection service and with our technology we can process more than 8,000 data points to match your loan enquiry immediately with a lender in the US and Canada who offers the highest chance of approval and most affordable rates.
To date, we have helped thousands of Americans and Canadians who need money today – and we are delighted to help you with our fully online process.
8 Loan Options If You Need Money Now
|Type of Loan||Interest Rate Range||Loan Amounts||Repayment Terms||Bad Credit||Same Day Funding||Collateral Required|
|Payday Loans||200% to 400% APR||$100 to $2,500||1-24 months||Yes||Yes||No|
|Cash Advances||200% to 400% APR||$100 to $2,500||1-24 months||Yes||Yes||No|
|Bad Credit Loans||200% to 400% APR||$100 to $2,500||1-24 months||Yes||Yes||Yes and No|
|Personal Loans||8.99% to 36% APR||$1,000 to $100,000||2-7 years||No||Yes||No|
|Title Loans||29% to 300% APR||$100 to $50,000||15 to 30 days||Yes||1-2 days||Yes|
|Installment Loans||8.99% to 36% APR||$100 to $50,000||2-7 years||No||Yes||Yes and No|
|Credit Unions||7.99% to 18% APR||$100 to $2,000||1-6 months||Yes||No||No|
|Catalogue Credit||25% to 35% APR||Up To $1,000||Revolving||Yes||Yes||No|
How To Quality if You Need To Borrow Money Instantly
You will need to be a minimum of 18 or 21 years to be eligible for a loan today, depending on the lender. Some maximum ages may apply for certain types of products and lenders.
Income and Employment
A minimum monthly income of $500 or $800 is required as part of the lender’s criteria. You may need to show proof of income and employment, whether you are part-time, full-time or self-employed. Some lenders may require proof and others not.
You need to be a full-time resident in the US or Canada with a local address, but you do not need to be a homeowner, with those in rented accommodation or living with parents and friends also eligible.
Applicants will need a live checking account for their loan to be transferred to and for repayments to be collected from.
Social Security Number
Borrowers will need to have an SSN or social security number to be eligible to borrow money online and they will be required to enter this during the application.
Our lenders will look at your affordability, including your income, debt, expenses and existing loans and credit to determine how much you can afford to borrow and repay without falling into financial difficulty. This may result in the amount you have requested to be adjusted accordingly.
Your credit score will usually be a factor when applying for a payday loan or bad credit loan. There are some loans such as title loans where your credit score is less important and your collateral is key to be approved. Otherwise, we work with a number of lenders that will accept poor credit and credit scores under 600, 550 or 500.
I Need Money Now - What Are The Benefits and Drawbacks?
- Fast and effective – Dime Alley is pleased to offer a fast way to borrow money now, with our fully online application process which gives you an instant approval on the screen and can help you borrow $300 or $500 on the same day of applying. So if you have an emergency expense, you can get the money today and pay off your bills right away.
- Completely online – We offer a fully automated and online process so you can apply, be accepted and receive funds in 24 hours. There is no need to line up at a bank and wait for days for an answer, this can all be done online.
- Transparent – We work with legit lenders across the USA and Canada and show loan and repayment examples when you apply. Your loan agreement will clearly state all the terms, fees and costs of your loan and you can sign this electronically to proceed.
- High interest rate – To get money now comes with higher interest rates because you are paying for the convenience. Hence, the rates charged for options such as payday loans and cash advances can regularly exceed 200% APR when there could be cheaper alternatives out there.
- Late repayment will impact your credit score – You need to make sure that you can repay your loan on time or the cost of a typical loan can start to add up and negatively impact your credit score, making it harder to accept affordable finance in the future. When you add late fees and additional interest, a small loan can become costly.
- Cheaper alternatives elsewhere – Although you need money immediately, there are cheaper ways to borrow if you are willing to wait, such as credit unions and borrowing money from family, which can carry very low interest.
Where Can I Borrow Money Near Me?
We proudly operate in the following US states:
Read Our Reviews
“I found Dime Alley on Google and applied in a few minutes. I got an instant decision and approved on the same day and was able to pay to have my car repaired immediately. I paid back the loan in 2 weeks and was sorted.”
Bob, Florida, July, 2021
“Had a good experience and got my loan the next day. I needed it to pay my bills and will consider using it again if I need a loan.”
Darryl, Michigan, February 2023
“Personal and friendly, they did what they said they would do, I was approved for a loan although I have bad credit. It was just a short term thing, but has helped me and my family.”
Merryl, Texas, September 2021
FAQs and Common Questions
No, there are no upfront fees for applying for a loan with us and to check your eligibility. We simply take a fee from the lender if your application is successful. A lender will charge you standard interest rates (fixed or variable) which they will confirm with you in writing before the loan is approved and funded.
If you are looking for cheap ways to borrow money, you should start by speaking to family and friends who will typically want to help you out and often not charge you any interest and very flexible repayment terms (if any).
At Dime Alley, we mostly offer payday loans and cash advances because the turnaround time is very fast and can often result in an instant decision and funds transferred on the same day. However, please be aware that these can be an expensive form of borrowing and should not be used as long term solutions.
Other options can include:
- Credit unions
- Title loans
- Credit cards
- Co-signer loans
- Bank overdrafts (this is not cheap)
- Borrow against life insurance/retirement account
- Community loans
Dime Alley can offer loans within 1 hour, the same day or next working day. With a fully online form, you can complete your details and get an instant decision. Make sure that you have your email account and cell phone to hand for any additional questions and we can aim to get your loan funded as soon as possible.
Yes, when you complete our loan request form in less than 5 minutes, you should revise an instant decision with a formal loan offer on the screen.
From there, you can decide if you wish to proceed and if so, you will be given a full agreement which you will be able to electronically sign. You cannot always borrow money instantly, since most applications will be subject to further and typically your loan can be fully approved and transferred within 1 to 24 hours.
Yes, we offer loans for people with bad credit scores and histories, often adjusting the terms, whether it is the amount you wish to borrow or by charging a slightly higher interest rate. We can help people with poor credit and we may be able to suggest credit unions or title loans too.
If you need money right away, it would be sensible to speak to family and friends and explain your situation. You should always be open, honest and outline clear repayment terms to avoid conflict.
If you would not like to pursue this option, Dime Alley is pleased to offer a completely online process where you can apply for a loan and receive funds on the same day if approved.
No, applying for a loan with Dime Alley will not negatively impact your credit score. Just make sure that you do not make too many applications within a short space of time, since this might look suspicious to other lenders. We will run a credit check fo each customer, but do not worry, this does not affect your credit rating in any way.
If you need a loan and have no job at the moment, this may be tricky, since you will typically need a regular income in order to be approved and to cover your repayments at the end of each month.
There may be exceptions if you are in between jobs or have income coming through in other ways. You may also be recommended an alternative product such as a title loan which is secured against your car.
The loan terms are typically between 1 to 24 months and you can choose how long you would like to borrow for, with some people only need a loan for a short term.
You will be presented a repayment schedule in your loan agreement with a set monthly payment on your specific pay date, usually the last working day of the month. Often in equal installments, you will know exactly how much to repay on the set date and you will be sent email and SMS reminders to confirm.
You also have the option to overpay or make early repayments and you can save money on the overall interest by doing so.
Dime Alley is a broker and we match your loan enquiry with more than 50 direct lenders across the USA and Canada to connect you with the company who is most likely to approve you and offer the best rates based on factors such as your income, credit score and affordability.
If your loan application has been approved, you will receive a live offer on the screen which confirms the lender, the amount you can borrow and rates they can offer you. You have the choice to proceed if you wish and you will be sent an online loan agreement that you can sign electronically. There is no obligation, you can choose to cancel the loan if you wish.
If you miss a loan repayment, you will be contacted by the lender who will follow up. You typically have 24 to 48 hours to make the payment without any incurring any additional charges. However, if you fail to make the payment over some time, this information will be sent to the credit reference bureaus and this will negatively impact your score and you could be charged a late fee.
Yes of course, all loan applications and offers are completely no obligation and you can cancel your application at any point. In addition, if you are funded and go ahead with the loan, there is a cooling period of 24 to 48 hours where you can cancel and there are no fees.