What Is A Cash Loan?
This is a cash advance which is normally paid straight into your bank account from a direct lender, although this can also be given face to face peer to peer. These are normally unsecured, and each loan provider will have their own terms, fees and application methods. There are lots of cash loans available online, from more traditional bank loans, to short-term 100% online loans from lenders like us. Our loans are designed to help you with an unexpected bill or emergency.
How Do I Apply For A Loan Online?
To apply for a loan you will need to meet a certain eligibility criteria:
- Be over 18 years old and a UK resident
- Be in permanent employment, or receiving a pension, disability benefit/living allowance
- Have a bank account with a valid debit card.
- Meet our credit criteria and affordability assessment.
If you meet all of these criteria, click below to start your application.
What Is APR?
APR stands for Annual Percentage Rate, and this represents the cost of a loan over an entire year. This can be helpful in comparing two similar loans from separate lenders, as you will be able to determine the relative cost of each. The total cost of credit can also be a valuable tool, and this will tell you the precise amount of how much the loan will cost.
I Have A Bad Credit Score, Can I Still Get A Loan?
Before you consider discussing a bad credit score loan, it is important to understand what credit actually means. This is generally used to describe a person who is struggling with past problems of credit, but it can also be ambiguous. A credit rating or score is a number, and not an adjective. As a responsible lender, we do not give to those who we believe are unable to make repayments, however we will look at more than just your credit score in order to describe this. If you have a bad credit score, you may have difficulty in receiving a loan. If you do however, these will often be for smaller amounts, shorter durations and be available at a much higher interest.
What Happens If I Miss My Payment Date?
A late payment may result in extra costs on top of your loan, which might include a missed payment fee of £15. On top of this, you may also be charged late interest of up to 0.8% per day which might continue to be charged up to a maximum of 30 days from your repayment date.
Can I Get a Summary of Borrowing?
Yes, you will automatically receive one when:
- You settle the balance of your loan with us; or
- Your account with us is closed as a result of default or forbearance; or
- Three months have passed since you last made a payment to us and we have not closed your account.
You can also request one by emailing us at firstname.lastname@example.org
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