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Short Term Loans
£50 - £995
Rates from 278% to 1576%
3-12 month repayment
£1k - £25k
Rates from 4.7% to 287%
3-36 month repayment
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.
† Subject to lender's requirements and approval. Not all loan amounts are eligible for 20 minute payouts. Your bank may increase the time you receive the money considerably.
Instant Cash Loans from Online Lenders
- A quick cash loan is typically used for emergency funding such as car or home repairs
- They are usually for smaller amounts of up to £1000 though many lenders will offer higher loan amounts.
- There are many UK direct lenders to choose from, using a comparison service helps get the best rates.
Is it possible to take out a cash loan instantly?
It can happen anytime – needing money urgently, that is. Fortunately, you can take out a cash loan which the quickest way to obtain funds. The more efficient loan processes and modern banking technology paved the way for instant cash loans. In essence, with an instant cash loan, you can receive the funds that you need straight into your bank account with very little waiting time.
What is a cash loan?
For unforeseen financial emergencies, you will likely need a cash advance of some sort.
Most of us encounter sudden cash emergencies – a small amount, to be exact. However, even a shortage of a small amount of money can wreak havoc on a tight or limited budget. It can be a necessary appliance that broke down, a car that needs to be repaired immediately, or medical bills due to a sudden illness.
Traditional banks typically have a minimum amount of £1,000 for a standard loan. But because the amount is higher, the process takes longer to complete – if you require cash instantly, or home collect loans this can be a problem.
Can I use a cash loan for any purpose?
There are usually no restrictions on how you can use a cash loan. Borrowers take out cash loans for various purposes, including:
● Unexpected or emergency expenses like car repairs, medical bills
● Extra cash for special occasions, or to buy gifts for family and friends
● For home improvements, or additional pocket money for travel
It is up to you to take out a cash loan and use it for any purpose. However, you should be responsible for handling loan repayments and never use it for unnecessary expenses.
A quick cash loan, when used properly, is handy in keeping your finances in order.
Where do I go to get an instant cash loan as much as £1,000?
If you need the money really soon – or today, there are several sources that you can look into, such as:
- Borrow from people you know such as family and friends
- Online loan applications
- Loan applications via phone
- High-street lenders
Family and Friends
Borrowing some cash from your close friends or relatives is usually easy especially if the amount that you need is small. Most of the time, you do not even have to pay interest as long as you return the money as promised.
However, it is usually easy to borrow from people you know if it’s £100 or less. So if you are only going to borrow a very small amount, this may be the most convenient and hassle-free option.
But take note, in case you decide to choose this route, you should return the money on time. Failing to pay back what you owe can result in strained personal relationships.
So if you need more than just a small amount, or you think you will not be able to pay the loan on time, it is best to look at other sources of funds.
Online Loan Applications
Asking for a loan from friends or family is simply not a good option for a lot of people. However, traveling to a lender’s office is also not too ideal because of the time and effort required.
An online cash loan is a suitable and convenient option if you have Internet access and you are in dire need of extra money. If you need money between £100 up to £1,000, a short-term loan is a perfect solution since some lenders may offer higher than what you may need.
Applying through a loan with us lets you have the additional cash that you need in a simple
and straightforward way. A cash loan online has several advantages:
- Fast and simple application over the Internet
- A speedy decision from direct lenders
- Quick money transfer
Loan Applications via Phone
Some people do not have access or the patience to navigate online loan applications. Or maybe you prefer to speak to someone over the phone. There are numerous lenders who offer credit applications over the phone and their staff can help you complete the loan process.
Getting an instant loan through a phone has its advantages – you will be able to ask any questions that you may have. It also feels more personal to transact with a real person.
For successful loan applications, it is possible to receive the money that you need directly to your account on the same day.
High-street lenders may not be as common as back in the day, but high-street short-term loan providers still do exist in different locations.
Some pawnbrokers give access to unsecured credit to supplement their core business. The good thing in dealing with a high-street lender is that you can take out a loan using a valuable asset or just simply take out an instant cash loan.
With a high-street cash loan, you need to physically visit the store to submit your application. If your loan is approved on the same day, you can receive the money instantly, too. Getting cash in an instant is something that you need if have urgent financial matters to attend to.
However, visiting the store physically may not be something that everyone wants to do. It can be inconvenient to drive all the way to the town to file your application especially when you have other important things to do.
In case the loan provider needs some more documents from you, like proof of your salary, you have to travel back home to get what you need before returning again. These factors can prolong the entire loan process which is not particularly helpful when you have an urgent financial dilemma to take care of.
How fast can I get money with and instant cash loan?
People who search for ‘instant cash loan’ online or ‘same day loans’ typically require cash in an instant.
With today’s technology, you can receive money as soon as possible, especially if your bank can process payments really fast.
You should remember, however, that even though cash loan applications online are easy and quick, the lender’s decision many not always be immediate.
The lender will still verify the information that you provided and pass their affordability checks.
Initial checks may deem you eligible for the loan, however, the loan provider will still verify other pertinent information before granting you the loan.
How to make sure you succeed in your cash loan application
Complete and correct information
One of the easiest ways to get a loan is through an online application. However, you should ensure that you are providing complete and correct information.
Supplying inaccurate information can delay the progress of the loan process. The worst part is when your loan request is rejected by the provider.
If the information you provide on your loan request is inaccurate or half-truths, and you were still approved for a loan, you may be investigated and even prosecuted for fraud.
To help you get a cash loan quickly, ensure that you do not have a large debt in your credit card or any outstanding personal loans. If you have plenty of debt, the lender may decide not to grant you a loan.
Remember that all of your current financial obligations and commitments have a bearing on your loan application. Your existing debt may affect the decision of the loan provider whether to give you or not a quick cash loan.
Capability to repay the loan
Prior to taking out any credit, you should be sure that you can pay the monthly loan repayments comfortably.
The simplest way to do this is by comparing your monthly income and monthly expenses.
There are affordability calculators that you can use to compute your capability to pay back a loan before taking out one.
What should if do if your loan application is rejected?
If your short-term loan request was rejected, and you have every reason to believe that it was unreasonably declined, you should reach out to your lender immediately Ask the lender the probable reasons your loan request was rejected – such as incorrect information.
The acceptance of your loan request depends on several factors. A loan amount that is too big may not be given to you by the lender if it is your first time to get credit. One of the most important, however, is the personal and financial information in your credit file. Ensure that the lender has accurate information or request to have erroneous data removed. It’s also worth remembering that although no loan is guaranteed, there are likely other potions available to you so it’s worth applying.
Will my cash loan be approved if my credit is bad?
Just because someone has bad credit does not mean you will not qualify for a loan. There is not much difference in the way bad credit loans and regular loans are processed. The information that will be requested from borrowers will be the same, except that some loan products may not be available to those with poor credit.
Why is a bad credit loan more expensive than regular loans?
There is no denying that loan products offered to borrowers with bad credit have higher interest rates. However, the FCA regulates lenders so that the daily interest rate will not exceed 0.8%. So for example, a £100 loan amount will not have more than £24 as its monthly interest.
Thus, before taking out the type of credit, you should fully understand the terms and conditions of the loan – so that you know how much to pay each month and until when. For clarifications, you should communicate with your lawyer your concerns.
Are all direct lenders FCA-authorized?
The FCA or the Financial Conduct Authority is the agency that regulates the operations of authorized UK credit providers. The agency also monitors the operations of doorstep loan providers and pawnbrokers. If you choose to borrow money elsewhere, the FCA cannot protect your rights.
Credit providers who are regulated and authorized by the FCA are monitored to ensure that they apply only ethical lending practices.
It is best to work with loan providers and loan brokers authorized by the Financial Conduct Authority.
Our goal is to help every loan applicant get the right type of loan product using only the most straightforward and convenient loan process in the market.
Frequently Asked Questions
How much can I borrow?
Due to the urgent nature of this loan, the amount released by lenders is usually small. However, customers can get up to £2000 depending on the company they choose to work with. But on the average, you can get between £100 to £500
Once your loan application has been approved, the loan amount will be sent to your bank account instantly.
What documents must I have to be eligible?
Direct lenders may ask for the following documents when processing your loan application.
- ID (showing your company’s name to show that you are employed)
- Social security number
- Email and residential address
- Bank account details
How do I start a loan application?
Immediate cash loans are built for emergencies, as a result, lenders have created an online platform where customers can complete a loan application digitally. Loan amounts are released after the successful completion of the online application process.