Find cash providers by searching in the local phone directory or on the Yellow Pages website, which contains many listings for banks and finance companies, as indicated by searches of the website. Another alternative is choosing a loan servicer with low interest rates using an online comparison tool, notes Bankrate.
There are a wide variety of businesses that provide cash to customers. The Federal Trade Commission recommends that consumers choose loans from credit unions or small, community-based loan companies, rather than payday loan companies, according to its website. The FTC even mentions cash advances on credit cards as a possible alternative, although it warns that such advances may come with higher interest rates than other funding options. The FTC disapproves of the payday loan industry because payday loans charge borrowers extremely high rates compared to other forms of credit.
Some additional alternatives to taking out a payday loan include getting an advance from your employer, getting emergency assistance from a faith-based or community-based organization and negotiating payment plans with debtors, as stated by the Center for Responsible Lending. Additionally, many community organizations and faith-based groups provide people in need with emergency assistance, either directly or by way of social services programs.