. When such a situation arises, one is in urgent need of finances. However, most of the loans take a lot of time to get approved and there is a lot of delay along the way. In this case, one can avail Small Loans to get the desired funds.
Small Loans are short-term finances which cater to the urgent needs of people. The borrower can avail these funds and pay it back when he gets the next pay check.
The lending institutions can sanction an amount ranging from 80 to 1500 and has a stipulated time period of 1 to 30 days to pay the entire amount back.
The borrower can avail this advance to get quick funds. This attractive feature of quick money is owing to the fact that there is no paperwork involved in the whole process. People who have a less than perfect credit history can also apply for this finance without any hesitation. The borrower can easily stay out of debt by paying the money back on time.
However, the main disadvantage of this credit is that the interest rates charged are comparatively higher due to the short term nature of the advance. The borrower should ideally pay the amount back on time to avoid paying a penalty.
There are a few requirements to be fulfilled by the borrower. They are as follows:
The applicant should be an adult of 18 years or above.
The applicant should be a domicile of U.K.
The applicant should be employed and should earn a regular monthly wage.
The applicant should also have an active checking account.
The borrower can apply for this service online. He just has to fill out an online application form and can submit it with the click of a button. The lender will verify the information and if the loan is approved, the money will be transferred to the borrowers account.