Are you looking for a payday loan? Is the thought of finding a payday loan bothers you a lot? In that regard, you can try to learn a little about these loans. Payday loans are the kind of loans that you will need for fast funding. While that is true, you still have more to know about a payday loan.
We are a direct lender. We are one of the most reputable financial institutions in the society. We have been working our best to strive towards offering and giving our borrowers the best loan options.
We have succeeded in doing so with various loans alongside the much-known and appreciated payday loan. In this post, we would like to reflect on them a little.
The Idea of a Short-Term Loan
Previously, the idea of loans was not as much flexible. The secured loans dominated the loan market. Loan products have not been readily available either. Now, for the online reality, a new idea of loans called unsecured personal loans entered the market. These loans are comparatively easy to get and then to repay.
Loans without collateral is known as an unsecured or a personal loan. Luckily, most of these loans are found online these days. You do not have to come to the lender’s office to receive the money. You can easily find your money in your bank account disbursed online.
Now, if we speak about a short-term loan, we will consider a plain and simple unsecured loan offered for a shorter period. They are close to what you call a small loan but are not precisely small loans.
The amount can be taken out in a variety. However, short-term loans can be given in high amounts. We can allow you a loan amount of up to £50,000. However, if you speak of the time period, then this is where we want to draw your attention.
The term length of a short-term loan usually lasts for a year. However, our borrowers might find our loans more interesting if we somehow increase the term length. This is why we made our loans come in a variety of loan terms. With us, you can grab a short-term loan and extend its duration up to 36 months or 3 years.
What Is a Short-Term Payday Loan?
Are you looking for no-refusal payday loans from UK direct lenders? Well, you have come to the right place then. Our direct lending practices have made a payday loan more extensive and diversified for you. If you need them, you will get them. Just be sure of the idea of a payday loan in general.
You have already known what a short-term loan is. A payday loan is then called a special kind of short-term loan that you can take out based on your income information. As its product name suggests, you must usually repay the money on your payday, which is the day you get your salary. In that logic, we can easily say that a payday loan term is set to 1 month because most people draw their salaries on a monthly basis.
What if you are into business? What if you know that you can manage shorter money instalments and not the full amount right away on your payday? This is why we made our payday loan come in the term you want it to. You can choose the loan term anywhere from a single month to 3 years. Let us explain how it works.
You apply and take out the money. We check your payday information and credit score to find you more than one repayment package. Using a loan calculator gives you a good idea of how these loan terms can influence your finances. You can choose the term that seems the most economical to you for saving extra money.
Do you need a payday loan from us soon? Well, you must be wondering how to apply and to get the money then. The next point can help you with that. Read them carefully and apply for your payday loan quickly.
How to Get a Payday Loan Fast
Always remember that a payday loan can be used in a variety of situations. Since it is a loan of the short-term kind, no strict credit check procedure or other verification formalities are mandated for the borrower. You do not even need a guarantor to get the loan.
- To find the loan in your bank account, you must learn whether or not you can afford the loan with your salary. The best way to find it out is to check your income statement and payday date. Use a loan calculator to get better results on repayment amounts or instalment amounts (if you wish to extend the loan to a few months).
- Apply using our paperless application form offered on the website with the help of a single click. You might need to fill in minimal details about your basic information and the kind of loan you want.
- When you submit your application form, we will ask for your salary statement and other basic data to verify your application. This is why you must keep all your income information ready in the form of documents. You can use alternative income details (freelancing, part-time, benefits, etc.). An updated credit score and report should also be added with this evidence.
We will now check your loan application and determine whether you are eligible for the loan. Since you took responsibility to find out the loan affordability yourself by using a loan calculator, it is assertive that you will get the loan.
To Conclude
By the years of experience and the variety of borrowers we have worked with, we can tell you that many can need further assistance to make advanced borrowing decisions. The team of 1oneFinance is always ready to offer you that. Whether it is a payday loan or a loan for people on benefits, we are always here to help. Phone us or write to us, and we will get back to you instantly.
Jessica William operates as a Senior Consultant and Chief Content Editor for 10 years at 1Onefinance. She assists the firm in getting a grip on the new lending laws and regulations. She does so by researching the trends, consumer requirements, and new audience preferences. Jessica is responsible for making important financial and administrative decisions.
Apart from helping consumers with the best solutions, Jessica Williams helps them ensure financial stability. She analyse the business data, finances, expenses, and revenue/ income of customers and determines necessary changes. Jessica finished her Doctorate in finance and law and implements her knowledge to the best interest of the firm and customers.