What Is A Short Term Loan Direct Lender?
A direct lender for a short-term loan is a company that lends money to you without a loan broker involved. You apply for a short-term loan from them, and they decide whether or not you qualify for the short-term loan.
Short-term loan direct lenders will make instant decisions on your loan application with a credit check. The rates, fees, and other information are clear in your signed agreements. Without further procedures, lenders quickly transfer money to your account.
Direct lenders closely adhere to responsible loan regulations set forth by the Financial Conduct Authority(FCA). Some of these practices include informing you of late payment penalties and warnings while also informing you of your early payment rights.
They ensure that you receive a clear statement of your interest rate and monthly instalments. These responsible lending practices give you confidence and erase your worries about loan scams or phishing.
How Much Can I Borrow From Short Term Loans Direct Lender?
FastPaydayLoans connects you with several direct lenders who can provide you with a short-term loan of £100 to £5000.
Most short-term loan lenders perform a credit check and analyse your conditions. In most cases, a bad credit will not hinder you from getting a short-term loan as long as you have other proof of income. They will also show you their limit on loan amount, interest rate and repayment terms to help you determine the amount you should borrow.
Advantages of Getting Short Term Loans From Direct Lender
Direct lenders are a better option than traditional lenders for short-term loans because of the following benefits:
- They usually use online processes, which eliminates the need for unnecessary documentation. Paperwork makes loan applications long and complicated, discouraging most people from applying for short-term loans.
- By operating online, direct lenders aim to speed up the process so that you can get your cash quickly. You won't have to wait long for your loan, and you'll be able to meet your needs on schedule.
- Direct lenders may still give you a loan even if you have bad credit.
- Direct lenders make it easier to communicate and get clarifications concerning your loan. You have direct contact with them and are free to communicate with them.
Can I Get a Short Term Loan With Bad Credit From Direct Lenders?
Most major financial institutions will not grant you short-term loans when you have bad credit. But don't worry; most short-term loan direct lenders will help you out in a crisis.
We connect you with several direct lenders who can provide you with short-term loans for bad credit. Most short-term loan direct lenders will use other factors to assess whether you qualify for a loan. They'll look at your income and expenses to see if you'll be able to make the payments.
The short-term loan direct lenders won’t use your bad credit as a factor to hinder you from getting a loan. They're more interested in your current financial abilities. You'll be on your way to raising your credit score if you pay your loan instalments on time.
Short Term Loan Direct Lenders V.S. Brokers
Short-term loan direct lenders provide services distinct from those offered by brokers. It's crucial to understand the differences between the two to make an informed choice.
Short-term loan direct lenders typically give you the money directly without a go-between. They will take your application, review it, and inform you whether or not you are eligible for a loan. They make a direct deposit into your account if you qualify.
On the other hand, short-term loan brokers will handle all legworks. They undertake the work of searching through different lenders to find the one that best meets your needs. And everything from application, and lender approval, to transfer of money, is online.
Loan brokers like FastPaydayLoans will connect you to lenders who can offer you a loan and can get you better deals than you could get on your own. They compare payday loans direct lenders and offer better rates.
|Why Trust FastPaydayLoans?|
|How much can I take out?||£100-£5000||No obligation quotes|
|Representative APR||49.7%(variable)||Competitive rates|
|Will bad credit be accepted?||Yes||Lenient requirements|
|What are the repayment periods?||1-36 months||Flexible loan term options|
|How can I apply?||Apply online||24/7 available|
1. Can I get a short-term loan with no credit checks?
No credit check means that a lender doesn’t view your credit history or score before deciding on whether to give you a loan or not. Before granting you a loan, most short-term loan lenders will run a credit check that may hurts your credit. No credit check loans typically do not exist.
2. Are direct short-term loan lenders regulated in UK?
The FCA regulates and authorises all direct lenders. They must all follow the authority's rules, whether they are short-term direct lenders or lenders to those with bad credit.
3. How can I get short-term loans from direct lenders?
Follow the steps below to obtain a short-term loan from direct lenders quickly.
- Fill out the application form on our homepage, which will take a few minutes. The purpose of this form is to gather some information that will assist us in matching you with a suitable lender.
- We'll send your application to several lenders we've partnered with, and they'll make you an offer following a quick approval.
- Once your application is approved, you should receive your cash the next day at the latest.
For you to qualify for a short term loan, you must meet the following criteria:
- You should be 18 years and above and a permanent resident of the United Kingdom.
- You should have a regular income.
- You must have a bank account where your funds will be credited.