If you need to borrow money fast for an urgent expense, your options are to use a credit card, a line of credit, or to take out an emergency personal loan. Many people choose a credit card or line of credit because it’s the most convenient option. But there’s a downside – you’ll be faced with compounding interest charges if you don’t pay your balance in full by the end of the month. An installment loan, on the other hand, is repaid through a fixed number of affordable payments. And, most installment loans allow you to get your money the same you apply, making it a good option for people who need money now.