No matter how smartly you manage your budget, you often run out of money when an unexpected expenditure catches you off guard. There are numerous situations when you feel helpless – medical expenses may pop up or you may lose your job – but this is when loans can help you tide over.
During an emergency, you will need an injection of cash there and then. Instant cash loans can see you through your tough time.
A small cash loan is a short-term loan designed to borrow an amount of money without further ado in case of financial emergencies with no guarantor and credit check.
Yes, you can take out quick loans despite bad credit rating and no guarantor provided you can afford to pay it back. However, the interest rates will likely be higher than for those with good credit standing.
When you apply for a bad credit cash loans, bear the following points in your mind:
There is no denying that EasyCheapLoan provides cash loans to subprime borrowers, but we believe in ethical lending, and we aim to help you tide over, not to trap you in a never-ending cycle of debt.
We try our best to lend money to those who can afford to pay back the loan, and having a score below 561 indicates incapacity to pay off. We do not entertain borrowers with a very poor credit score.
|Note: Even if your score is bad, it should not be less than 600 if you want to apply for instant cash loans. If your score falls somewhere between 561 and 600, you can qualify for these loans only if you are disabled or a senior citizen.|
Living on benefits is no more a snag if you take out cash loans with us. As long as you can afford to take on the loan, you are free to fill in the application form. If you do not have any income source, we will consider your benefits as your income.
We will look into your income statement to analyse your expenses and accordingly decide the disbursal limit. If you have income from rental property, feel free to report it. You will likely get a higher amount if you need.
If you look at the repayment method that mainstream lenders follow, you will find that they require a lump sum payment, but we understand that it can be quite severe to pay off the loan outright. Therefore, we follow the following repayment structure.
Instant cash loans can be expensive, especially if your credit score is not up to the par. Missed repayments will add in late payment fees and interest penalties and pull your credit score, lowering down your chances of borrowing money down the line. If you think you may miss the payment, inform us earlier as:
If you keep us in the loop, you can escape penalties.
Here are a few things that make us unique:
EasyCheapLoan provides cash loans with the instant decision at affordable interest rates. So, what are you waiting for?
Instant cash loans were designed to meet the instant cash needs of the borrower, mainly emergencies. Consequently, they are short-term loans. A loan that falls in this category is usually for less than a year. However, the instantaneous nature of a cash loan does not allow that.
So, the duration is merely for a month, since it is taken up for immediate necessities, the borrower completes his obligation and returns within a month.
All forms of cash loans are for a small amount that usually ranges between £1000 and £5000. The same is the case with instant cash loans. No lender will provide you with a loan that is more than 5000 pounds.
This is mainly because of its time constraint, returning 10 Grand in a month is close to impossible for most borrowers. If you need that big an amount, you can look at our other loan categories.
Borrowers from all over the world tend to trust banks more than direct lenders. However, when it comes to cash loans, a lender is the better option because;
Usually, it is possible to get two loans at once. You can have a home loan on top of a car loan. However, for cash loans, this is not true. The reason being that the lender is more at risk to lose his money in such a loan, so he won’t allow himself to take on further risk by giving out two cash loans to a single borrower at once.
No, there is no need to present any collateral to the lender for a cash loan. These always fall in the unsecured category.
There are two reasons for this;