Emergency Loans Are Quick and Hassle-Free Solution to Your Urgent Financial Needs
Emergency loans are fast, easy and hassle-free means to get funding immediately. Your loan request will be submitted, processed, approved and funded in your bank account within one business day. Regular lenders do not have this kind of service, but many alternative lenders offer various emergency loan services for those who need it.
It can be extremely troubling when you need immediate funding, especially if you do not have anything saved up. Some people with bad credit records are also refused by lenders and the stress is doubled for them
Emergency loan services make it possible for people to get the money that they need quickly without the need of having to fill out loads of paperwork and wait for several days for approval.
Depending on the situation and the amount you need to take, an emergency loan can fall into the following forms:
- Payday Loans – Immediate funding of £50 or as much as £1500 which can help you go through until your next paycheck arrives
- Long-Term Loans – these are for the bigger loanable amount and is paid over months or years.
- Emergency Personal Loan – this one has the longest repayment period and can sometimes be the biggest loan amount offered.
Emergency loans can be used for almost any purpose that you consider to be an emergency need. It could be used for home or auto repair, for unforeseen medical bills, overblown utility bills or to fund emergency travel needs.
|How Does Payday Loans Compare?|
|Bad Credit Loans||Why Use Us?|
|How much can new customers borrow?||Up to £5,000||No fees, ever|
|What are the repayment terms?||3 – 24+ Months||No paperwork|
|Representative APR||292% pa (variable)||No obligation quote|
|Can I apply with bad credit?||Yes||Instant decision|
|Do we credit check?*||No||No credit footprint|
|Can I repay in instalments||Yes||Flexible repayment|
The Situation Differs for People Who Needs Emergency Loans
Every borrower has a different purpose and situation when they apply for an emergency loan. This why the usual loan services from banks and regular lenders cannot meet most of the borrowers’ requirements. Borrowers today are looking for more flexibility and convenience from lending institutions. They want some sort of freedom for the loan amount that they apply for as well as for the repayment terms that will be set for them.
With today’s easy emergency loan service, borrowers can borrow any amount from £50 or as much as £1500. All they have to do is fill out an online form and indicate the amount they need. This will be submitted along with some documents required by the lender for assessment. After validation, you will be informed of the loanable amount, the interest rate applied and the repayment schedule. If you agree with all that, then you can give your consent and your funding will be available in your account within the day.
Emergency Loans are Unsecured Loans
A lot of people these days prefer to apply for emergency loan services from online lending companies because they are unsecured loans. There is no need to pledge any property, asset of anything valuable to be used as collateral. In case you failed to pay on your repayment dues, you do not risk losing your home or vehicle.
Emergency Loans are Easily Available for Everyone
It has never been easier to apply and get approval for a loan. Applying for an emergency loan is free of charge, so don’t worry about applying when you need it. With emergency loan services, you can apply during business days and you can access your funds the following day!
The requirements are basic and you can comply with them easily. All you need to present are your Proof of Identity, bank account statement, proof of income and proof of your legal age. These will be assessed in a couple of hours and you will have the approval within the same day. In some cases, a borrower receives the loan at the end of the day – and those in dire circumstances can finally find relief.
What is an Emergency Loan?
It is a short term loan specifically designed to help people get much-needed cash during emergency financial situations. If you get approved, your cash can be available in your account within the day. This means that you can readily use the money immediately. The repayment terms could be done in installments or on a predetermined length of time.
Where Can I Use My Emergency Loan?
Emergency loans are designed to be used to help borrowers get through a tough financial situation without a guarantor. Some of the usual expenses that people use their emergency loans are the following:
- Utility Bills
- Medical bills or pet troubles
- Home repairs
- Household appliance replacement
- Car Repair
Fortunately, our services provide access to emergency loans when you are in dire need of cash. We can help you get through any difficult situation without easy, fast and hassle-free application and approval of emergency loans.
How Do Emergency Loans Work?
This type of short-term loan is also considered as a reliable and viable alternative to payday loans. Through an emergency loan service, you can borrow the amount of money that you need and you have to agree to pay it back on a predetermined period.
With emergency loans, having a payment agreement makes it a lot easier for borrowers to keep up with their obligations. It also makes the loan easier to manage and the repayments are affordable.
In case of the usual payday loans, borrowers are expected to pay for the whole loan amount at the end of the month or after 30 days. This can lead to a lot of pressure to produce the whole loan amount when the borrower still hasn’t recovered from the financial emergency.
How Much Am I Allowed to Borrow On Emergency Loan?
Lenders will assess how much they will lend the borrower. It shall depend upon his or her capacity to pay, employment, financial history, and overall situation. Borrowers can get emergency funding from £50 to £1500. It is important to remember to borrow only the amount you will be comfortable to pay to avoid any default in payments.
How Soon Can I Access My Emergency Loan Funds?
Lenders are extra fast and reliable when it comes to approving emergency loans. In some instances, it is possible to get access to your cash on the same day that your emergency loan application is approved.
What Will be My Repayment Period for My Emergency Loan?
This type of loan is intended to be used as a quick solution for your financial emergencies. This is why borrowers are expected to repay the loan over a short time. Repayment terms for emergency loans are flexible to make things easier for the borrowers.
Depending on your lenders and the amount of the loan you applied for, you have the freedom to choose how soon to pay back your loan. The repayment period can range from 1 to 12 months depending on your agreement.
Am I Qualified to Apply for an Emergency Loan?
Anybody can qualify for emergency loan services. Most lenders have very basic requirements for those who want to apply and take an emergency loan. Each lender has different criteria which they validate before approving the loan.
You have to prove that you are more than 18 years old during the time of your application, you are a UK resident and you have proof of income to show that you will be able to pay back the loan. Presenting these documents will qualify you for the emergency loan you apply for.