A cash advance loan is a sort of small loan normally ranging from £50 to £1,000, created to support people get swift, secure access to money. Specially designed to help in unforeseen emergencies, such as home bills, unexpected bills with car repairs, or washing machine repairs, cash advance loans are becomingly more widespread in the UK. As such, a growing number of moneylenders are now offering advance cash loans. Because these loans are generally for small amounts, often up to £1,000, they usually feature a short term loans repayment period from 1 to 3 months.
The most important things you must to take into account when thinking about one of these loans is what you can afford to pay back in the time required for repayment. You should always look at your own finances and calculate your ability to repaying these type of loans. This will give you a clear indication of how much you will need to borrow. This is important because it allows you to properly calculate how much you can borrow. Many cash advance lenders may drop the loan amounts that they feel is affordable for you to borrow and may reduce or increase the repayment terms to suit your specific needs; with some offering cash advance loans with a 3-month or longer repayment period.
At WageMe, we understand that the best cash advance loans are lenders that take into account your specific needs based on your particular circumstances. This is why the information you give enable lenders to find the best deal for you. Cash advance loans from some of the biggest lenders in the UK have more flexible terms and wider loan amount range. Such category includes payday cash advance and cash advance online loans; both of which are designed to give people the chance to borrow money for just 1-month or two. Many direct lenders will give you an immediate cash credit once you have successfully completed the application process; with the money sometimes paid into your account almost instantly on the day of approval.
Accessing people applications using affordability information is essential for direct lenders. The process shows the disposable income which gives a clear indication of the likelihood of whether the loan can be repaid on time or not.
Many direct lenders are now advancing short-term loans for people with bad credit. As with other short-term loans, these loans are often for small amounts of money and highlight a short repayment period; normally around one month to up to 12 months. Particularly created for people with bad credit, certain short-term loans accommodate people with prompt access to funds in times of financial difficulties.