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Short Term Loan Options That Work For You

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It is no surprise that many people need additional cash at the end of January. The first month of the year can be a very long month and a lot of people require additional support to make it through to the end of the month. If you are in the position where you don’t have enough money to pay your bills, you need a helping hand. Thankfully, there are a number of ways in which you can obtain assistance and you should consider the range of short term loan options available to you.

You’ll find that traditional banks and building societies are not too keen to offer short term loan options. These lenders look to take their time in providing loans to people, which means you have forms to fill in and they review these forms in great detail. If you are looking for finance at short notice, you aren’t going to receive the support you need from the traditional banks and building societies.

There are short term loan options to consider

There is also the fact that many banks and building societies don’t want to provide you with a loan if you have a poor credit score. This is something that goes against many people and is another factor to consider if you are looking at your short term loan options. It may be that you need to find a loan provider that is happy to offer support to people with poor credit, and you’ll quickly find that there are not too many of these providers.

short term loan options

Of course, you’ll find that not all short term loan options are right for you either. A payday loan is an example of short term loan options but it is an option that should be avoided at all costs. This is because this is an expensive way to arrange for money to be placed into your bank account. The quick turnaround required for payment is a big reason to avoid this style of loan and the high level of interest is also something to be avoided.

A guarantor loan is an affordable way to get money, making it one of the best short term loans options. The role of the guarantor provides you with a more affordable loan, so you should consider this solution.

If you need money in a hurry, don’t accept the first option you find, make sure it is right for you.

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Guarantor Loans

A Representative Example

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48 Monthly Repayments, borrowing £2000
Total Amount Payable: £4067,04
48.9% APR Representative
Rate of Interest 25.84% Fixed Flat Rate
Monthly Repayment: £84.73