subject: Everything You Need To Know About Short Term Loans [print this page] Fast cash loans, also known as quick quid loans or short term loans are an advance of fairly small amounts of money over a short number of days or weeks. Of course, there are many types of loan deals on the market that can offer large amounts of cash for a car purchase or house repairs, sometimes we all need a little urgent cash to tide us over or to cover an emergency.
Fast Cash Loans are meant to offer quick financial assistance and are usually arranged and approved on the very same day as the application. These small loans are security free and both tenants and homeowners can apply to have one to meet their emergency demands. The cash loan can be approved even if the applicants carry a poor or bad credit history such as defaults, CCJs, IVA or late payments.
Before applying for the loan the applicant must be sure they are eligible. They should be UK citizens, over 18 years of age, hold a valid bank account and have a permanent job with a regular income that is paid into the bank.
Applicants should also be confident that they will have the funds to pay back the cash loan exactly on time according to the terms and conditions of their advance. Quick Quid loans work best as a one off and should not be relied upon as a regular buffer to the applicants income. Many good loan companies will ensure that this is the case before lending.
An instant cash loan can seem like the ideal solution when money is sorely needed before the next payday and it's very true that this type of short-term loan can help a person out of a financial hole . However, always remember that the interest rates are high and you will definitely incur extra costs if the loan isn't paid back on time.
