subject: Mini Text Loans - A Revolution In Financing [print this page] A mobile phone is a very handy instrument that helps the communication between people to be convenient and easy. The convincing feature about mini text loans is that due to the growing demand for cell phones an applicant can now send an SMS to avail finance. Therefore, now there is a revolution in financing due to these funds.
The amount that can be availed can sum up to only 100. But this amount is quite sufficient as it can be used for a number of extremely urgent requirements. This amount can only be availed for a term of 1 to 7 days. The applicant can solve many of his miniature fiscal problems in this one week.
The main significant characteristic obtained through this finance is the immediate sanction of funds within less than an hour. The only requirement is a text message specifying the desired amount and certain personal details. At the same time, there is not partiality towards any particular class of people. Therefore, even a bad credit holder can apply for this form of credit.
On the other hand, these are very small terms forms of fiscal assistance. Hence, the amount should be repaid within the given duration. If there is an extension in the term, the applicant would be entitled to pay a penalty fee for the same. Moreover, there are high interest rates tagged to these loans. So, some people may find this form of fiscal assistance a costly affair.
The applicant should be of UK origin to avail this form of credit. He is also expected to be an adult and not a minor. At the same time, he should have a stable job and maintain an active bank account in his name.
It is a more benefited option to apply for these funds online. He is simply required to furnish his details on the online form provided. On basis of this information, the lender takes a decision of approval.
by: Peter Parker
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