Making ends meet month after month is a considerable financial responsibility. Just about the time you’ve covered monthly outgoings, a surprise bill or unexpected personal expense can leave you short. Though financial shortfalls may cause worry, online solutions are available, supplying £100 loans to help you cover costs until payday.
UK families are not always prepared when unexpected financial demands place extra pressure on household cash flow. The underlying cause, for many UK individuals and families, is insufficient savings. For others, earnings occasionally fall short, due to increased living costs or one-off expenses requiring immediate attention. When you find yourself facing difficult financial circumstances, a short-term cash loan may be all that’s needed to get back on track.
These loans are a special type of funding, reserved for urgent spending demands. The flexible finance solution is particularly well-suited for expenses that can’t wait until payday, when there’s no time to spare for a lengthy loan approval period.
Lenders in Omacl’s preferred funding network specialise in providing small, short-term loans for good and bad credit applicants. Securing a loan is as easy as completing an online application – Omacl takes it from there, following streamlined steps to get you the cash you need.
Lenders are required to evaluate applicants’ credit references, before extending loan offers. The safeguard not only ensures they’ll be repaid on time, but assessing credit also helps lenders decide how much to lend and the type of repayment terms to offer. UK banks and other traditional financial institutions are particularly strict about credit scores, so many applicants prefer online sources for quick cash.
Online lenders commonly use “soft” credit checks to pre-qualify applicants, enabling them to efficiently process loan requests and quickly fund approved loans. Because these loans are relatively small, topping out at a maximum £2,500, and the money is repaid within weeks or months; online providers may have greater flexibility approving applicants than brick and mortar banks do. In fact, you may qualify for a fast online loan, even after being turned away by your local bank.
There is no obligation to borrow after applying, so the most straightforward way to test eligibility is submitting your request. Your Omacl lending partner may fund the amount you ask for, or may approve a different amount, based upon application information and a cursory credit review.
Various financial products address UK consumers’ funding needs. Many of the most popular finance options are designated for specific purchases, such as home loans, car loans, and student finance. Payday loans, on the other hand, serve diverse monetary demands.
Once you’re approved for quick cash and the money posts to your current account, you determine how to spend the proceeds. Like fast loans and other short-term financial relief, these loans are not restricted. Approved applicants commonly apply short term financing to spending needs such as those listed below, but you may have other ideas for the cash.
Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
Benefits of short term loans include speed and simplicity. Not only can you apply for fast cash without leaving home, but once you’re approved the loans are quickly paid out. Banks and credit unions also fund various types of loans, but you may not have time to wait for approval. When financial pressure builds and you need fast relief, additional options include:
Earn More Money – The modern economy relies on part-time workers and people willing to work one-off “gigs.” When you need fast cash, supplementing your income with retail shifts or hospitality jobs can provide additional income, without long-term commitments.
Borrow from Friends and Family – An established friend or relative may be prepared to lend you money in a pinch. Informal finance arrangements with the bank of mum and dad and other willing partners can be helpful, but there are downsides to friends and family loans. What if you can’t repay the money as agreed? Or your “lender” needs cash in the meantime? Sticky situations can arise. To avoid problems borrowing cash from someone you know, create a contract outlining the terms of your agreement.
Use Credit Cards – UK consumers are not strangers to their credit cards; household debt has been on the up. When unforeseen spending demands arise, reaching for plastic can help you overcome short-term finance challenges. But if you don’t pay the balance within your grace period, finance charges and card fees drive up the true cost of purchases.
Sell Belongings – Online marketplaces make it possible to sell personal items for profit. You may be able to avert a financial crisis by parting with some of your possessions, in order to raise money.
Return Recent Purchases – When money’s tight, creative solutions include returning recently purchased items for refunds that can be applied to urgent spending demands.
Cancel Services and Subscriptions – Although the tactic may not immediately add new money to your cash flow, reducing your monthly expenses generates savings, which can be redirected to pressing financial obligations. For the best results, cancel redundant entertainment, connectivity, and communications, as well as gym memberships and other unused subscriptions.
Despite your efforts managing money, you may occasionally run short of cash between paydays and when that happens it’s hard to know which is the best solution. £100 loans provide short-term funding for UK consumers needing a financial lift. The flexible online loans are supplied by the Omacl network of preferred providers – apply today for help overcoming urgent spending challenges.