Ways to Get a 5000 Dollar Loan

Written by itadmin on January 9th, 2010

A 5000 dollar loan can get many people out of trouble and can help those who are desperately need fast money.  For example, there are times when people need to relocate due to unforeseen circumstances or because of relocation for a new job.  Moving expenses can be quite expensive and the security deposits on an expensive apartment can cost over $3,000.  Many people do not have this type of cash on hand and will have to seek out ways to obtain enough cash to pay upfront payments.

There are a few ways to get 5000 dollar loans; however, the ways to get a loan will depend on your financial situation.  The first way is to use your credit cards as a cash advance.  Cash advances typically have daily limits and carry enormous amounts of interest.  This should only be done under situations where you absolutely need a quick loan in order to pay mandatory expenses right away.  It is important that you repay these amounts as fast as possible as finance charges on cash advances are outright hideous.  Another option on to get a $5000 loan fast is to apply for a 0% introductory APR balance transfer and write a check for $5000 for the balance transfer amount and deposit the check into your bank account.  This is a risky option as well but with the 0% introductory APR, at least you will have some time before you have to start paying the interest part of the loan.  Balance transfers are good also because you can use the cash from the transfer on the expenses that you needed the cash for in the first place.  Another benefit is that this type of loan can be obtained very quickly and the credit card company will typically take 2 weeks to process your transfer.

You can also get a 5000 dollar personal loan by going to a payday loan company.  This is also a risky alternative as payday loan companies charge an excessive amount of interest on a loan.   Also, the amount of the loans tend to be very small so this will require you to go to many payday loan companies in order to collect the 5000 dollar loan amount.


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