$400 loan

When a $400 loan makes sense

$400 is the size of the surprise expense that survey after survey finds many households cannot cover from savings: a vet visit, a phone replacement, a plumber.

A short-term loan fits a one-time cost you can repay from the next few paychecks. It is a poor fit for a bill that comes back every month.

What $400 can cost

Cost depends on the APR and how long you take to repay. The table uses example APRs. Eagle Advance does not publish its range and shows your rate in the loan agreement.

Try your own numbers in the payment calculator.

Getting $400 from Eagle Advance

Eagle Advance lends $100 to $1,500, so $400 is inside Eagle Advance's $100 to $1,500 range. The lender decides the approved amount from your application. You need 90 days of steady income, a checking account in your name, and to be 18 or older and a U.S. citizen or permanent resident. Approved before 4:00 p.m. PST on a weekday, funding is typically the next business day.

Options to check first

Before a high-cost loan, ask the biller to split $400 over two months. A credit union payday alternative loan or a state-licensed lender is the next stop.

A simple repayment plan

1. Write down the total of payments from the agreement, not just the payment size.
2. Divide $400 by the paychecks you have before the last due date, and see whether your budget holds.
3. Put any extra toward principal early. Eagle Advance asks for 2 business days' notice for extra payments.
4. Do not borrow again to cover a payment.