We provide emergency loans to people who need financial help. An emergency loan could be just what your need if you are in the midst of a short term financial crisis and need support in order to pay your bills, have incurred an unexpected expense or require to make a repair of some kind. LoanPig offers emergency loans to people in times of need. However, please be aware that although turning to a direct lender like LoanPig has its advantages, you should always make sure that you can afford to cover the repayment. Whether it is for a pay day loan, and emergency loan, or any other loan that we offer, never put yourself under financial pressure unjustly.
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What Is An Emergency Loan?
Emergency loans can be extremely beneficial as a short-term solution to any financial difficulties you may be having. As a type of short term loan, the money you require to cover any emergency costs is transferred into your account as quickly as possible, usually within a matter of minutes. At Loan Pig, emergency loans can be anywhere between £50 – £1500 and you can choose a repayment period that suits you, between 2 – 12 months. Emergency loans are appropriate only in times of crisis, so we would advise you to bear this in mind when applying for an emergency loan with LoanPig.
Why Might You Need An Emergency Loan?
An emergency loan is designed to help people access cash in times of financial difficulty. They can be used for a variety of reasons to help you get through whatever monetary dilemma you’re facing. Some of the more common types of expenses people might use an emergency loan include:
– Car repairs
– Utility bills
– Unexpected medical or vet expenses
– Replacement of household items (e.g. fridges or heaters)
– Home repairs
At LoanPig, we provide access to emergency loans when you need money quickly to help you overcome your financial emergency. Sometimes extra expenses or unexpected bills are inevitable, no matter how well we budget and how much we save. The reasons that borrowers come to us to acquire an emergency loan vary, but most often, our customers need money straight away so they can cover an unexpected but necessary expense.
Benefits Of Taking An Emergency Loan With LoanPig
At LoanPig, we want to help you resolve your financial problem as soon as possible. We can help you find an emergency loan in minutes, tailored to both how much you need to borrow and how long you require the repayment period to be. We are here to help, which is why we make sure that when you arrange an emergency loan, you are able to comfortably afford the repayments, rather than adding to your troubles in your time of need.
Some of the main benefits of taking an emergency loan with LoanPig include:
– LoanPig charges a maximum interest of 0.8% per day.
– LoanPig can only charge a one-time late penalty fee of £15.
– LoanPig ensures that customer will never pay more than double the amount they borrowed.
If we can approve your emergency loan application, you can expect a quick pay out, allowing us to give you the financial support you require in a matter of minutes.
Emergency Loan Stages
Step 1 – Application
To begin the process to acquiring any emergency loans in the UK, you must always begin with an application. Fill out our online application, let us know how much you need, and how long for. You will also require to provide us with some further details about you and your current situation.
Step 2 – Decision Process
After submitting your information, you’ll receive a decision on the very same day. We’ll provide you with our decision, along with multiple options for your emergency loan, so you can alleviate any difficulties you may be having for the time being.
Step 3 – Payment
When you have accepted the loan and agreed to all of the attached conditions, the money will be sent directly to your bank account. The length of time this takes may vary, but many customers receive their emergency loans within 10 minutes of signing the agreement.
Am I Eligible For An Emergency Loan?
Applying for an emergency loan in the UK with LoanPig is an entirely digital process, with the application taking place online. Using our loan calculator will allow you to choose the amount you would like to borrow, and the length of time you wish to spread repayments over. You will then be shown an estimate of what your monthly repayments for your emergency loan will be. If you’re happy with the monthly repayment estimate and the loan terms, you can proceed to apply for an emergency loan. To be eligible for emergency loans in the UK, you’ll need to be:
– A current UK resident.
– At least 18-years-old.
– Have an active bank account and a valid debit card.
– In permanent employment or receiving some form of disability/living allowance or pension.
If you have any further concerns regarding prior financial difficulties, you have a bad credit rating or have never borrowed before, you don’t need to worry. As a broker, LoanPig uses a panel of lenders, some of whom are prepared to lend to clients who have a low credit score. With emergency loans in the UK, all loan applications are subject to a full credit check, but your credit score is not the only criteria an emergency loan application is considered.
The most important factor is that you are able to demonstrate your affordability to make repayments and provide proof that any financial issues are in the past. This way, we are able to find you the best emergency loan in the UK.
Are Emergency Loans The Right Choice For Me?
Before applying for emergency loans in the UK, there are several factors worth considering. These include:
– Why do I need an emergency loan? It’s in the name, this type of loan should be used in financial emergencies only, not as a solution used on a regular basis.
– Am I able to pay the loan back in the chosen amount of time? It is important that you are able to pay your emergency loan back when you say you are able to.
– Am I able to prevent this happening again? Emergency loans should exclusively be for emergency situations. These are often unpreventable, but you must ensure that you only apply for this type of loan in very certain circumstances.
Emergency Loan FAQs
How Quickly Can I Get An Emergency Loan?
At LoanPig, we understand that an emergency means you need the money quick. From the approval of your emergency loan to the money reaching your personal account, it can take just a matter of minutes. We want to make sure that you aren’t stuck in a bad situation for any longer than necessary, which is why we get the money to you as fast as we can.
I Have Bad Credit, Can You Still Help Me With An Emergency Loan?
Bad credit isn’t the end of the world. We know that your financial history doesn’t define you, which is why at LoanPig, we have exceptionally high acceptance rates, even if you have bad credit. Our dedicated team of lenders is always on hand to offer emergency loans for a wide range of financial circumstances. Where some lenders fully automate their decision to lend to you, we take a different, personable approach and consider your current financial situation on a human level.
If you have any further questions, please feel free to contact us and speak with one of our team about your emergency loan eligibility.
How Many Times Can I Borrow An Emergency Loan?
We wouldn’t wish financial difficulties on anyone, and hopefully any emergencies that impact you financially will remain few and far between. Even so, you must expect the unexpected. If you do require an emergency loan and have already taken a previous emergency loan out with LoanPig, it is entirely possible that you are able to borrow again. Having successfully paid off your first emergency loan will deem your eligible to apply for another, up to £1500, but several factors depend upon this. Repeat borrowing will require a credit check to assess your affordability at present, so we can ensure that your financial circumstances have not changed between your last loan and your most recent application.
Is LoanPig A Broker Of Emergency Loans?
Yes, LoanPig is an FCA authorised loan broker as well as a direct lender. We provide some of the best emergency loans in the UK, directing your application to our panel of lenders. On applying for an emergency loan with us, sharing your request allows us to find the best possible rates available. As a broker, we are able to be much more flexible on our emergency loan offerings, allowing you to choose the loan amount, how long you would like to repay it over, and acquire the best option that aligns with your affordability.