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Representative Example: Rates from 43.1% APR to 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £1,200 borrowed for up to 75 days. Total amount repayable is: £1506. Interest charged is 0.34% per day, amounting to £306, annual interest rate of 124% (variable). Representative APR: 49.7% (variable).
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
What Are The Short Term Loans?
Any amount that is borrowed with a repayment period of anywhere between a week and a year is termed as a short-term loan. This is an excellent option for people who have not yet built a credit report to be borrowing from credit institutions.
As an individual also, you can use this quick and convenient option to maintain your cash flow when you suddenly need some money for a short period of time but are not able to get support from concrete and trustworthy sources. This is where short-term loans come to the rescue.
Types of Short-Term Loans
Invoice financing
It is a way of borrowing amounts for the short-term by using trade-receivables or invoices as collateral. You can borrow the amount from invoices that you have issued to your customers.
Online loans
As the name suggests, online loans are a way of borrowing money from behind the screen without the need to step out to a bank or financial institution. You can fulfill the formalities online and after approval, the amount is credited to the bank account mentioned by you.
Lines of credit
This is a convenient option that facilitates any individual or business to borrow funds from a bank or a financial institution. It is a borrowing limit that is set by the bank or the financial institution against the individual or business.
Payday loans
A simple and common way of borrowing money at high-interest rates that are promised to be repaid when the borrower receives their next salary or pay.
Merchant cash advances
This kind of loan is basically a merchant paying you a bulk or lump sum amount in advance in return for your product or services in the future at regular intervals.
How to Get A Short Term Loan ?
You can get a short-term loan in a few simple steps:
- Evaluate your previous unpaid debt
- Assess your credit score and limit and analyse why you need the mone
- Go to the website of UKBadCreditLoans and check your eligibilit
- Submit necessary documents and fill out the forms where aske
- Submit your application and wait for approval
- In as quick as 10 minutes, you can get the approval
Advantages of A Short-Term Loan
Instant Approval
A short-term loan can be instantly approved in as less as 10 minutes of your time which means your time as well as unnecessary efforts are saved in rushing from bank to bank.
Less Interest
With the obligations that you must clear the debt in a shorter period which leads to less interest. You can save money even with a higher interest rate as opposed to a “long-term” loan.
Credit Rating
This might be the most important part for most people. Repaying the short term loan can improve your credit score if you have a bad credit history.
Flexible Usage
A short-term loan can be borrowed for any purpose be it business, personal, or even family. That is the best part about short-term loans from UKBadCreditLoans.
How to Get Short Term Loans with Bad Credit?
There are certain sources that offer loans to people with poor credit scores. These kinds of short-term loans are easy to qualify for and do not require you to pass stringent tests.
You can even opt to go for such short-term loans with the help of a co-signer that has good credit. A co-signer will help you display credibility before the financial institution that is lending you money.
You can even go for certain other short-term options such as credit cards or lines of credit. A credit card is a great option as you can pay off your dues in a monthly and timely manner. Moreover, credit cards these days come with multiple added perks and discounts.
A line of credit is another option if you want to borrow money for a short period. It is a credit limit facility extended by the bank in case you need to access the allowed amount for a short period.
Why Choose UKBadCreditLoans for Short Term Loans?
Affordable Interest
What is the one thing that is always worrisome when borrowing money from somewhere? It is the rate of interest at which you are borrowing. With UKBadCreditLoans, the interest rate is affordable and you know you are safe and secure while borrowing.
Instant Approval
Your approval from most of the borrowing sources takes ages. UKBadCreditLoans ensures that you do not have to go through the pressure of waiting for approval. You can check your eligibility and get approval in as quick as 10 minutes.
No Extra Charge
You do not need to pay any additional fees in order to get money from UKBadCreditLoans. At no extra charge, you can borrow the required amount at the repayment term of your choosing.
Total Flexibility
UKBadCreditLoans allows you to choose the amount you want to borrow and how long you would like to keep that money as long as you can repay in time. You can also pay back in advance at your convenience.
How Long Can I Have My Short Term Loan Over?
A short-term loan can be extended to as much as 18 months. It is always suggested to plan the repayment of a loan before borrowing it so you can repay the loan on time and save yourself from extension penalties (if any).
And what's better than settling your loan before the set time frame and saving all that amount that would have otherwise gone in paying the interest rate!
Frequently Asked Questions
How can I take loans from mobile?
Simply go to the website of UKBadCreditLoans, apply for the short-term loan, fill out the required details, check your eligibility, and wait for as less as 10 minutes for your loan approval, all this right from the screen of your mobile phone.
How can I get a loan for 1 hour?
With UKBadCreditLoans, you can apply for the process online and get approval in as less as 10 minutes. Once you agree to the terms, you can get the amount credited in as quick as an hour.
Can I get a 1 month short term loan?
Yes, with UKBadCreditLoans, you can get a short-term loan that is to be repaid in a month's time.
Where can I get a no-interest loan?
You can fill in application forms on our website. Our lenders will evaluate your credit score to see whether you can get a loan without interest.
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