You might have always been financially stable, but there might be a time when you might have unexpected expenses. This is the time when you will need an emergency loan. It can be anything like car repair, leakage repair, renovation, or anything. This is why lenders have short-term lending options for borrowers.
Depending on the repayment options and the earliest period you need the finance, short -term loans are of different types. These are taken in smaller amounts than you can afford to pay in a short period. You can also get same day loans when you need cash urgently.
Same day loan providers:
Most money lenders who deal with short-term loans have the option of same day loans. Some also call it payday loans. You must choose your lender wisely and trust only the ones who are regulated and authorized by the FCA. You might be wondering where can I find a payday loan. We have the best suggestion for you.
LoanPig is a place where you can borrow or find other direct lenders to borrow instant cash. They provide loans at a lower interest rate and have flexible repayment options for you. The application process to get payday loans is simple and 100% online. They make sure that you don’t pay more than double the amount you borrowed.
Do we need to change the loan options to get the same day loan?
Most of the short-term loans are processed and received by the borrower within 24 hours of the submission of the application form. For instant loans, you can also receive the amount within 15 minutes if your bank accepts faster payments. If it does not accept faster payments, it will not take more than three hours.
With online lenders, it is very easy to fill up the application form and get an instant decision as their system has an automated document check. Hence, the speed of the decision and the transaction is quicker when compared to offline lenders.
What are payday loans?
If you have taken a payday loan on the same day of applying, you have to pay back when you receive your next paycheck. These loans have a higher APR% as it is calculated over the year but you borrow only for a month. This is why it is the quickest way to borrow but also an expensive one.
How to apply and who can apply?
At LoanPig and other online lending websites, you can fill up the application form online easily. It is a very simple process and will only require a few checks. Here’ what you need to file while applying:
- Name, address, and date of birth
- Employment details
- Details on income and expenses
- Bank details
If you are self-employed, you might have to provide details about your business and bank statements. You are eligible to take a loan if you are over 18 years of age, a resident of the UK, have full-time employment. To get your loan approved quickly, make sure that you file all the documents correctly.