You need to follow some parameters to qualify for short-term loans:
- You must be a UK citizen
- You must be 18+ years of age
- Must be in a full-time or a part-time employment
- Salary requirement- £800/month
Meeting urgent requirements in the middle of job loss, slashed income, and rising living costs have become almost impossible. In this scenario, getting a personal loan is practically impossible. Some expenses cannot be deferred. Here, short-term loans from a direct lender fill the gap.
Let us understand first about the loans.
| What is a short-term loan? | Short term loans are defined as unsecured small personal loans where no security is demanded as collateral for approval. You can get the loans from 6 to 36 months, depending upon your repayment capacity. |
| How much can I borrow via short-term loans? | One can borrow up to £25,000 to manage unexpected expenses. You can also apply for planned expenses. Use the short-term loan calculator to assess the affordable loan amount. |
| What are the interest rates or APRs? | These are high-interest-rate loans. The estimated APR range remains around 7.8% - 13.5% APR. People with good credit can get a lower interest rate, while those with poor credit issues will have to pay more. |
| Are there any fees included? | Our loan costs are transparent and clear. There will be no hidden fees or surprising costs. However, there is a fixed default fee capped at £15. |
Anyone can avail of these loans. The lender asks for income proof as a primary criterion for affordability. Having a good employment status is a sure-fire way to get approval. No more fret over a declining credit score. You can apply with good, bad or poor credit scores.
These small short-term loans are expensive. Loan providers charge competitive interest rates because the loan lacks the provision of collateral or a personal guarantee. The rates are favourable in terms of easy availability of loans at minimal eligibility requirements.
We follow authority guidelines while granting loans. The primary focus is on providing needed assistance personalised to your circumstances.
Every loan shares a unique purpose, and similarly, small loans have one. It is not suitable for every purpose. It might not be apt for you if long-term goals are in your list such as buying a home. Many times, you must have faced urgent money requirements to attend to time-sensitive issues, like:
If you have any of these needs or similar requirements, you can check out the best quotes on the platform. Other reasons small loans can be apt are:
If you lack savings and need immediate cash assistance, explore different options for a short-term loan from a direct lender.
Taking out a short-term loan can be useful in multiple ways. It is one of the popular offerings in the UK. The reasons for that are listed below:
1) Fast online process
One can fill up the application form within minutes online and you can get the loan approval within 15 minutes. However, it is subject to your recent financial commitments, affordability checks, and income capacity. Be it a no-credit-check loan upfront, instant cash loan or loan for the unemployed, you can get cash quickly.
2) Repayment flexibility
We provide short-term loans with flexible repayments. You can pay the loan according to the repayment ability and circumstances. We have multiple options for you to choose from. So, whether you would like to spread the payments or pay them early, you share the freedom to decide. It entails no fee.
3) Get short-term cash on bad credit
You can borrow without worrying about your credit score. We provide short-term loans regardless of the credit profile. Demonstrate valid income proof for loan repayment.
4) No guarantor is needed
Since we offer affordable loans only, you can manage the repayments from your monthly income. Therefore, no guarantor for short-term loans is required. It will save time and ensure instant funding if you pass the eligibility check.
You must be confused regarding the usage, as payday loans have similar uses as short-term loans. They are not entirely similar.
In short-term loans, lenders analyse ongoing financial behaviour like direct debits and credit card payments and the debt-to-income ratio before granting the funds.
Some loans for priority expenses can lead to overwhelming debt. If you want to avoid any risk of defaulting on a loan, short-term financing is an ideal option.
The best part about small funding sources is that you get the loan within 15 minutes than other loans on minimal eligibility. You can spread the payments according to flexible loan terms.
When applying for short-term loans from a direct lender, analyse the terms and conditions, requirements, and overall loan costs.
There are multiple incidents that one faces in life. You must have encountered crucial and challenging phases in life like- inflation, unemployment, and slashed salaries owing to pandemics. It is a situation where battling an uninvited financial need becomes a priority.
On top of that, bad credit eliminates one from securing urgent loans. Lenders consider risks in lending funds in this case. What to do?
You explore possibilities to secure the funds- by contacting friends or family. Sometimes, it’s all in vain. In this situation, one often thinks, “Is there any source that can offer me guaranteed funds at this crucial moment?”
Here quick short term loans for bad credit in the UK fill the gap. The final approval depends upon income and credit status. For that, we quickly conduct a soft eligibility check without harming your credit score.
Individuals facing credit issues and an urgent need for money can apply for small short-term loans on bad credit.
One can borrow these without worrying about past credit delinquencies and credit scores. We approve the loan instantly at minimal income proof and existing payment management.
You can also apply for a short-term loan on benefits if you lack a credit score and a stable income source in unemployment. These benefits include assistance provided by the government to unemployed individuals.
Taking a small loan and repaying it timely or before time helps improve your credit score. It helps one qualify for large and long-term loans in future. Get the best short-term cash for bad credit at minimal obligations.
The loans eliminate every need for collateral, a guarantor or a co-signer to qualify for short-term loans on bad credit.
You do not have to worry about borrowing a small loan with a less than perfect credit score with us. You can check and calculate everything on the short-term loan calculator for the exact loan fee and other affordability aspects.
If you lack the strong credit history, you cannot get a personal loan. If lenders do provide one, several credit checks hurt the credit score. It further eliminates the possibility of getting any.
It is the primary reason for seeking no credit check on short term loans in the UK (basically a soft check). While providing these, lenders only conduct a soft credit check to determine the loan affordability. It does not impact the credit score.
If you lack an appreciative credit score and need urgent funds, you can apply for these loans. Here is how you can do so:
STEP 1: Click on the “APPLY NOW” button
When you explore the site, you will see ‘apply now’ option, click it and enter your details.
STEP 2: Receive a confirmation call
You will have a call within a few minutes from our representatives confirming the requirement. The representative help you choose the right amount according to loan affordability.
STEP 3: Get Funds within 10 Minutes
Unlike other loans, you can get short-term no-credit-check loans without any document verification. It is the fastest way to bridge the cash gap.
These loans are suitable for any financial purpose. We do not restrict individuals’ freedom to use the funds.
IF YOU WANT TO SETTLE YOUR LOAN EARLY, YOU CAN DO SO.
WE DO NOT CHARGE INTEREST ON THE REMAINING LOAN PERIOD.
YOU PAY ONLY WHAT YOU OWE
We help avoid any complications regarding seeking different modes to get payment assistance. You may qualify for short term loans for unemployed easily. When lenders conduct a soft credit check, they ensure you have the ability to repay the loan using income from part-time work, freelancing, rental properties, or benefits. Remember, you need to provide proof of any of these incomes. We understand that getting into arrears can be a nightmare, and we take all the necessary steps to ensure a risk-free borrowing.
We understand that getting into arrears can be a nightmare, and we take all the necessary steps to ensure a risk-free borrowing.
If you fall back on making your first payment, we waive it.
Contact us immediately if you are unsure of continuing short-term cash loan repayment due to sudden job loss. Because if you don’t, you may enter into a short-term loan debt trap which could further affect your credit standing. We try to prevent our customers from falling into the debt circle by taking the below measures:
1) Revise your loan repayment term
If you need additional time to pay the loan, we can re-schedule your payments. You can opt for a repayment period from 3, 6 or 12 months according to your convenience.
2) Modify interest on the loan
In extreme situations, we take this step to help our customers in hardship. If you find the loan troublesome and unmanageable, talk it out with lenders.
After evaluating all aspects - such as the income of the spouse and other sources of income - the lenders revise interest rates.
We DO NOT guarantee modification in the interest rate, but yes, individuals can approach us for a suitable solution.
Defaulting on a loan may lead to legal action by loan providers. We do not mark CCJ on your credit profile right away. But help you get through the situation with expert solutions. Same day Short-term loans eradicate every fear and worry associated with any cash urgency. Contact and get cash in 15 minutes if you have any such need!
Short-term loans eradicate every fear and worry associated with any cash urgency. Contact and get cash in 15 minutes if you have any such need!
Here are some major questions that our customers ask the most. Check these for better clarity.
You need to follow some parameters to qualify for short-term loans:
Students, single mothers, unemployed, senior citizens, business owners, retired personnel, and anyone needing small loan assistance can apply for short-term personal loans. However, they need to provide us with proof of income or benefits as part of the soft eligibility assessment.
We provide emergency cash loan approvals within 15 minutes. We deal 100% online with minimal paperwork, which allows us to make an instant decision. It is followed by quick fund disbursal within 24 hours.
We keep all the terms upfront and practice transparency while lending loans. You will always know the total loan amount, repayment amount and loan tenure. If you miss keeping track, we provide you with a complete overview of the pending payments and the flexibility to cross-check the same.
According to your requirement, you can borrow doorstep loans, instant cash loans, payday loans, and no-credit-check loans on the platform.
Here is how you can improve your chances of loan approval:
Yes, we conduct a soft credit check with almost no impact on your credit profile. We do this to analyse your repayment capacity and provide the loan accordingly. Sometimes, a detailed credit check is required, particularly for individuals who have experienced severe credit issues in the past.
Yes, you can pro-closure your loan without paying anything extra. To avail this facility, you must have paid the initial instalments of the loan on time without fail. Repaying the loan early will help you save money on interest.
There is a late fee charge cap, i.e., 15% that you have to pay if you miss the payment. Defaulting is even riskier, as your name can be dragged into legal proceedings. It would be better if you borrow an affordable amount only and make all payments on time.
Yes, we do.
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