A cricket ball hit the windshield of Richard's car while it was in the park. His bank account was almost empty, and he didn't get paid for another two weeks. Richard was in a bind because the thing needed to be fixed right away and he had no money. Unexpected and urgent situations like these need money right away, not in a few weeks or months, but in a day or, if possible, a few hours. Many people in the UK can relate to this situation because they also have a small or almost empty bank account and live from paycheck to paycheck. A quick cash loan is a quick, easy, and effective way to solve any financial problem caused by an unexpected and sudden need. The emergency could be something like the one above, or it could be a credit card bill, a medical problem, or anything else that needs extra money.
Quick cash loans are made just for situations like this. It doesn't require any paperwork, credit checks, or faxing of documents, and the cash is put into the borrower's checking account within a day or two. There are no application fees for a quick cash loan. Through the Internet, many lenders now offer quick cash loans. The whole process of getting a quick cash loan, from filling out the application to getting approved for it, is done online. Once the lenders are happy, the money is wired to the borrower's checking account. There are no problems, just quick cash. If you make at least GBP1000 per month, you can get a quick cash loan of GBP500 deposited into your checking account within 24 hours.
For a quick cash loan, the most important thing is that the borrower has a job. Many lenders will only give out quick cash loans to people who have had the same job for at least five months. Lenders want to know that the applicant has a steady job and has been getting the same amount of money every month for at least a few months. To get a quick cash loan, you also need a bank account that has been open for at least three months. In addition to these, the borrower's identity will be checked by the lender. Because quick cash loans are based on whether or not the borrower has a job, lenders often don't care if the borrower has a bad credit history or a low credit score.
The interest rates on loans for quick cash are higher than average. The average APR for a quick cash loan can be anywhere from 9% to 30%. But more and more lenders are charging fees instead of interest on quick cash loans these days. This fee can be anywhere from GBP15 to GBP30 for every GBP100. You can get quick cash loans for small amounts, usually less than GBP1000. The loan must be paid back within 15 to 30 days. The borrower can pay back the loan by having the money taken out of his or her checking account or by writing a check to the lender. Most of the time, these loans are paid back when the next paycheck comes in. If a borrower can't pay back the loan by the due date, he has to pay the fees. Every time a loan is moved to a new repayment date, the lender adds the loan fee or interest rates.
A quick cash loan can be approved faster if the borrower is on the ball. If a borrower has his job, ID, and checking account information ready before he applies, he can get the loan very quickly. Many lenders can process the application in just five minutes. The whole process fits perfectly with the borrower's needs, which is why it's called a "quick cash loan."
