We provide convenience to our borrowers regardless of the loan you are applying for because we understand that you cannot wait too long to arrange funds to meet your unforeseen expenses. Among all the loans we provide, the easiest one to obtain is a cash loan. Whether your credit score is bad or you want to use doorstep service, cash loans do not require you to meet any restrictions. They are 100% flexible.
To get a small loan instantly, you simply need to fill in an application form and keep your pay slips ready to prove your income. If you are unemployed, you should submit details of your passive income sources, such as your freelance pay invoice.
If you want to apply for instalment loans, you will need to make extra efforts. You should be aware of your current credit score. Approval for monthly instalment loans will be at once when your credit score is good.
You should compare interest rates online to get cheap short-term loans. Interest rates vary by lender because they are determined based on the risk they perceive after reviewing your credit report and income sources.
You will find our interest rates are much lower than market rates because we do not charge any monthly fees. Flexible weekly payments also make our small loans cheap.
Fill in our application form and then wait for our response. In the meantime, we will assess your financial facts and review your credit score. Having met the affordability criteria, you will be sent a loan agreement that you sign. We will move money straight into your bank account then.
If you fail to meet the affordability criteria, we will propose to lend you less than £5,000. This will prevent you from having a bad impact on your credit score.
Short-term loans, such as cash loans, are not reported to credit reference agencies, so they will not have any impact on your credit score. In case of a default, your account will be sent to collection agencies, which may report it to credit bureaus. This will pull your credit score.
Instalment loans, however, work differently. They are reported when you apply for them and when you miss a payment.
No, short-term loans will not affect your credit rating if you make all payments on time. When the amount is so small, they will neither improve nor pull your credit points.
If payments are to be made over a few months, timely payments can build or improve your credit score. Your credit score will be badly affected if you fall behind on payments.
There are several types of cash loans that you can obtain from us.
All cash loans are best provided you can afford to repay them on time. You should understand the features of all loans and then determine which suits your circumstances best.
No, short-term loans with no credit check are not available. All lenders are prohibited from lending you money without running a credit check. However, it depends on the type of loan you are applying for and whether they will run a soft or hard credit check. Here, at 24CashFinances, you will get a loan based on your affordability.
At 24cashfinances, we prioritise ease of borrowing and simple eligibility criteria. It is easy to understand even for college students. Individuals applying at the portal must have a well-functioning bank account and credit history. Other requirements to get cash loans here are:
Yes, you may apply for another loan before completing your existing agreement. However, the loan must not impact your first loan payments. Analyse the urgency, purpose and cash need before applying. Avoid applying if you can wait or seek help from other sources like savings or friends. Alternatively, apply with 24cashfinances by analysing:
Yes, you can get a grim idea about the possibilities of approval. The pre-qualification process helps you know the chances. It entails careful analysis of your finances against the amount required. Additionally, you may use a loan calculator to calculate the loan costs, interest, and APR according to the amount needed and loan term. It provides monthly repayments approximately, APR, and total repayable amount. You can decide accordingly.
Yes, as a responsible direct lender, we at 24cashfinances conduct a credit check to analyse your affordability. A soft credit check does not leave any credit imprint. A soft credit check implies basic financial analysis, such as income, name, address, citizenship, employment history, and monthly income. It is not visible to other lenders. Thus, it never impacts your credit score.
Instead, by meeting the no-credit-check criteria, you may qualify for short-term loans for emergencies hassle-free.
Yes, a valid bank account is the primary condition to qualify for most loans with us. A valid bank account helps us transfer the funds quickly. Alternatively, you may need to apply for a loan from a guarantor. It makes the process complicated. Options like doorstep loans do not require a bank account to qualify. You may get these loans at your doorstep by just providing proof of income. However, if you have a bank account, you may get it online.
At 24cashfinances, we do not charge any fees upfront at the time of loan application. Instead, we charge only interest costs, loan establishment fees, loan closure fees, and penalty charges. You pay a penalty charge only if you skip a loan payment.
Yes, we provide document requirements quickly after the initial checks. You must provide only a few documents like- bank statements, salary slips, and ID proof to get the loan. If applying with a guarantor, the person must provide the above documents. With minimal documentation, we ensure a quick and easy online loan application form.
Practicing conscious loan applications keeps your credit score healthy. Additionally, it ensures you apply for only what you can afford comfortably. Here are some risks to avoid while applying for loans, especially for bad credit loans aspect.
Absolutely, the APR, as quoted, will be there in the loan offer. What you get to see in the loan proposal is a typical APR rate that can fit anybody. Once your application reaches us, we try to customise an offer that has the best and most affordable rates. The chances of getting the quoted APR increases with the suitability of your financial profile.
You should start paying loans back from the next month onwards. You must pay the monthly instalments as decided according to the repayment term. The pattern could be weekly, monthly or fortnightly based on your convenience.
To complete repayment speedily, you can consider weekly payments. No additional charges will be levied on you. Frequent payments will help in reducing the loan outstanding.
A representative example defines the terms and rates of a loan that we offer. If you plan to borrow £ 1000 for 6 months, it can have fees and charges totalling £ 445. It thereby makes the total repayment come out as £ 1445.
The above should be treated as an example, as the real offer can be different given your ongoing situation.
Indeed, you can pre-pay loans if your ongoing financial condition permits. Early payment is useful, provided you have enough cash to meet the remaining amount outright. Interest rates will accompany all the monthly payments.
Thus, repaying ahead of time means freedom from the rate of interest. This could be a remarkable saving for you when the borrowing amount is significant.
No, you cannot modify the amount you repay just like that. With fixed repayment options, you do not have the liberty to adjust the amount of monthly payments. However, there are flexible provisions that allow adjustments in the repayment amount.
You can opt for any of these arrangements with us. Get in touch with us if you need assistance in this regard.
Changing the repayment date is not possible if you want to drop it back. This is because delaying payments will have other repercussions. On the other hand, you can move forward with the date if your financial condition improves.
The above way is more convenient as you do not have to pay any extra fees. However, altering the repayment date is less likely if you have automated the payments already.
You can check your loan balance, repayment date or other account information at any time. Our representatives are working round the clock to help you in every possible way. You can approach us at any time, as our services are available 24/7.
Contact us when you have to fetch information about your loan account.
Yes, we use your credit score to determine your affordability. It helps us analyse your recent payment behaviour and responsibility towards clearing debts. Analysing, we get the exact amount you can comfortably qualify for. It is besides the interest and other loan costs.
We only conduct soft credit checks on maximum loan products. However, some facilities, like business loans and bad credit loans, require detailed credit analysis. We analyse recent payment structures, pending debts, income/revenue, bankruptcy, and the legality of assets to provide the loan. You may record a credit drop after a hard credit check. However, it is momentary.
You can check your credit score using credit agencies like Experian. It provides you with a detailed analysis of your credit health. You may also get the reasons for the specific credit score. Individuals with credit scores above 800 share a good credit history. Alternatively, if the results reveal a credit score below 566, you have a poor or bad credit score.
Yes, the borrower must have regular or part-time employment proof to apply for a loan.
Income is the primary criterion after credit score to identify the borrower’s affordability. Individuals with consistent and authentic proof of income qualify more easily than those without one.
You can get a loan with a low income by borrowing an amount lower than you need. Individuals like self-employed, unemployed and students may get £3000 loans, text loans and pay-weekly loans for emergencies or short-term. You must provide relevant proof ofpart-time income and income from other sources like rent, dividends or benefits.
No, we do not provide loans without proof of income. This hampers both the individual and the lender’s interest. Lending without proof of income may prove an unnecessary burden on your finances.
However, you may secure loans with unemployment benefits income as an unemployed person. We will require additional proof besides benefits income to approve the loan application.
If you are someone who is suffering because of poor credit scores, getting loan help without a guarantor is questionable. However, with us, you can go ahead with borrowing with no guarantor claim.
Finding a person who can support loan payments on your behalf is tricky for a poor creditor. We have no problem offering financial help even when you cannot provide a guarantor. You need to have convincing affordability.
For obvious reasons, the interest rates will remain on the higher side. When no guarantor is involved, the risk factors increase for us. For this reason, we try to compensate it by elevating the interest rates.
However, you can expect favourable rates if you provide confirmation about loan payments.
When you are applying with us for loans, it does not matter if you produce a self-employed guarantor. In fact, anyone can become your guarantor by fulfilling a few conditions. First, they should have good credit scores.
Second, they should earn a stable income so that they can repay in your place. They must produce considerable savings to help you with repayments.
Yes, the person who is going to be your guarantor should have perfect credit scores. It provides assurance about loan repayments when a borrower like you has questionable credit scores. Getting approval with poor scores is possible based on the favourable credit history of the guarantor.
This is because the ultimate purpose is to seek confirmation about loan payments.
Opting for a small amount of loan is always less risky. We recommend this a lot as you will not have to face extreme conditions because of the loan amount. The best part is that we will not ask you to pledge collateral to borrow money from us.
If your financial condition seems suitable, getting a guaranteed approval will not be tough.
Any loan that needs no asset and is obtainable for a shorter duration can be an unsecured loan. When you opt for them, you do not have to fear about losing assets in the case of defaults. You can get access to these loans based on your income.
Moreover, these loans are easy to repay with your next month’s salary.
In most cases, these loans do not require any collateral or guarantor. This could be a reason for the rising rates of interest. However, you can get reasonable rates based on your income and financial condition.
The uncertainty factor accompanying loan payments can be a reason for high rates. However, a steady income can iron this out.
The borrowing extent is quite favourable even when you think of borrowing a small amount. There is no need to provide an asset, as you can take out up to £ 10000 by sending a direct loan request to us. If you are still confused, clear it out by getting a free quotation.
It will give you a glimpse of the loan amount you can borrow. You can also find the repayment terms and interest rates from it.