I’m in a bit of a financial bind and have a substantial annual bonus due in March as part of my compensation. The bonus is typically guaranteed based on strong employee performance and good standing. Are there any lenders or types of loans that can provide an advance on this bonus if I can provide proof of eligibility?
Payday loans don’t usually require proof, but they come with extremely high interest rates and fees. It’s best to avoid them if you can.
If your credit is decent, you might look into a personal loan. Another option could be a credit card cash advance, though the interest rates are usually high. Still, it’s better than going to a payday loan provider. Payday loans typically have much shorter terms than what you’d need.
Have you considered asking your employer for an advance on your bonus? Some employers might be open to this if you explain your situation.