Need a Few Hundred Dollars? The Bank Probably Won’t Help

Most banks do not lend relatively small amounts of money out. Sure, that water bill that is now at $500 may seem like a lot to you, but your bank probably won’t see it that way. They’d rather focus on larger customers.

Where does this leave you if you need just enough to cover a bill? Maybe you need to keep your water running or pay your tuition to stay in school. Maybe you are just plain out of money and need money to buy groceries. Whatever the case may be, the reluctance of banks to lend out money in such situations is a major pitfall in the financial world. It leaves some consumers, such as yourself, hanging out to dry.

Luckily, title loan companies will work with you on amounts that banks often deem as too small. A title loan company will use your title as collateral and usually give you cash on the same day with a minimal income verification and no credit check. Some will offer amounts beginning in the hundreds – not the thousands, like most banks offer. In fact, Car Cash Loans offers amounts as low as $500, so you don’t have to borrow more than you need.

Minimums on Bank Loans

Most people know that banks offer personal loans. This may seem like the logical choice for those who need a small amount of money on short notice. However, as mentioned, most banks won’t offer a small amount of money.

Let’s take a look at the minimum loan amounts that various banks offer:

Bank Minimum Loan Amount
Bank of the West $1,000
East West Bank $5,000
Citibank $500
Wells Fargo


Bank of America $10,000

Now, you may think that Citibank and Bank of the West’s offers aren’t bad, but there are strings attached. To get a loan as “Low” as $1,000 with Bank of the West, you must be a member of the US Military. With Citibank, you must be a member for at least 1 month and wait at least 5 days after approval to receive a check. That doesn’t sound like quick cash, does it?

With the rest of the mentioned banks, you must take out a much larger sum than you probably need. That doesn’t work so well if you only need a few hundred dollars.


If you need quick cash and don’t want to over-borrow or jump through hoops to qualify, a title loan is a convenient source of money. You may be able to find a lower interest rate at a bank, but what good will that do you if you have to borrow thousands of dollars more than you need? After all, you’re probably looking for quick cash to pay an immediate expense, not to haggle with a banker.

So, consider a title loan if you need a relatively small loan. Just remember to pay it on time and you should have less hassle than you’d have with a bank and be able to borrow the amount that you want to – not the amount that a banker says you have to.