What Are Short Term Loans?
Short term loans, in the simplest terms, are small loans that you pay back over a a short period of time, like a few months (unlike payday loans where you are borrowing money to repay on your next payday).
People normally pay them back as soon as they can afford it and some providers of short term loans even allow people to pay back their loans earlier, like LoanPig themselves, than the date they agreed upon. In many cases, they can act as emergency loans so you can tackle any financial emergency head on.
Why Do People Need Short Term Loans?
Most people that apply for short term loans online need the funds for financial emergencies. If they incur unexpected expenses and are finding it hard to pay necessary bills, short term loans can help them stay out of debt and prevent further problems that might come as a result of missing a necessary payment, but remember that a short term loan has a double meaning, they should only be used for a short-term and not indefinitely.
What Are The Regulations For Short Term Loans?
The Financial Conduct Authority, better known as the FCA, is the body in charge of keeping short term loans fair and affordable for everyone. They have implemented a list of regulations for lenders in the UK, which include capping the total cost of your loan at 100%. So, no matter how long it takes for you to pay back your loan, you will never pay more than double what you borrowed.
Missed payment fees have also been capped at £15 and daily interest has been capped at 0.8%. All of the lenders on our panel are approved FCA regulated lenders, so you can rest assured that your short term cash loans are reliable and safe.
LoanPig, is authorised and regulated by the Financial Conduct Authority (registration number : 736632).
How Do I Get Short Term Loans Online?
Finding a trustworthy short term loan online can feel like navigating through a sea of statistics so here at LoanPig we try to keep the jargon to a minimum. When it comes to short term cash loans, regardless of circumstances, we try to find the best solution for you by offering you tailor-made lending options.
Unlike some of our competitors, we welcome people with all sorts of credit histories to apply for quick short term loans. Our quick short term loan application process and straightforward decision-making approach ensures you aren’t left without cash for long.
Can I Apply For A Short Term Loan From LoanPig?
Yes! You can. We are a direct lender and a broker with a panel of some of the UK’s leading lenders for short term loans on our side we can offer you the best of both worlds as a lender and a broker,so it’s our job to find you a lender that’s right for you.
When you apply for short term loans with us, we use your application to find a lender, whether that is LoanPig or on our panel that’s right for you. If you need that little extra peace of mind when looking to secure a short term loan, we can find a tailored loan solution to suit you and your needs. Here at LoanPig, we try to give you the best short term loan direct lender options.
I Don’t Have A Great Credit Score, Can I Still Get a Short Term Loan?
When you apply for a short term loan online with LoanPig, your credit history isn’t going to get in your way of finding fast short term loans online. We welcome credit ratings of all kinds, because we know that there’s more to our customers than just their credit scores, so we won’t look to apply your account with a credit limit even if you have money problems.
Here at LoanPig we look at the loan amounts and consider the long term affect of providing you with a short term loan. The panel of lenders we also use is one of the largest in the UK, which means there are lots of options for short terms loans that you can find, even when your credit score is less than perfect.
Are Short Term Loans Right For Me?
We are happy to give you all of the information you need and you can contact us any time. Great customer service is one of our best qualities, so turn to us to get all of the facts about short term cash loans.
Are There Any Requirements When Applying For Short Term Cash Loans?
Responsible lending practices are one of our top priorities, so there are some criteria that we ask you to meet to be eligible for short term loans online with LoanPig.
- A UK residentOver 18 years oldIn full time employment or receiving income from a pension or disability/living allowance.
We perform credit checks and affordability assessments, the lenders on our panel may do also before accepting your application. These checks are an important part of preventing fraud and making sure that the information you gave us on your short terms loans application is accurate and truthful. To find out more about the checks our lenders perform you can read our Terms and Conditions.
How Soon Can I Use My Loan?
We aim to get our short term cash loans into your bank account as soon as possible, because we know that money trouble wait for no one. While the pay-out times of our lenders differ slightly, we can often get your funds to you on the same day you submitted your application. If you submit your application for short term cash loans to us on a working day (Monday-Friday) before 3pm, we can usually get your funds to you within a few hours. However, if you submit your application to us outside of this period, you might need to wait until the next working day to receive your funds.
Why Should I Choose Short Term Loans?
Fast: Short term loans are faster than a lot of other types of loans and you can use your funds on the day that you apply for them. The application process for small short term loans is quick, too and only takes a few minutes.
High acceptance rates: Lenders of short term cash loans have higher acceptance rates than others, which makes applying for loans a lot easier for people that don’t have a great credit history.
Easy: Because you can get short term loans online, you don’t have to take time out of your day to apply for them. As long as you have an internet connection, you can apply for small short term loans from anywhere and you don’t have to fill out any paperwork.
Why Should I Use LoanPig?
As a loan lender and broker, LoanPig can offer you a level of flexibility that no other direct lender can. When you apply for a short term loan with LoanPig, we can offer you a range of options and support you throughout the process.
We try to make the process as accessible as possible, which means that we take your situation into consideration, give you all of the information you need upfront and help you talk to your lender, should you want to.
LoanPig will help you feel more secure and in the know when it comes to your short term loan options.
Why not let us do the hard work for you in seeking out your perfect cash borrowing solution?
What Is The APR Rate For A Payday Loan With Loan Pig?
LoanPig has a representative APR rate of approx. 1261%. (292% pa fixed) The interest Rate can differ depending on the total repayment and the company you choose to take out a short term loan with.
Warning: Late repayment can cause you serious money problems. For help, go to Money Advice Service