Are your finances being stretched in the run up to the festive season? There are presents, meals out, nights out with mates and then you also have to have enough to buy all the Xmas food and booze. You can take care of this short term financial issue with a quick and easy application for a short term loan by using Gimmedosh to do all the hard work for you.
But, are you eligible to apply for a quick and easy short term loan? You need to be a UK resident of at least 18 years old, in part or full time employment (NOT temporary) and you must receive your wages directly into your mainland UK personal bank account. If you qualify then you can apply for one of Gimmedoshâs quick decision short term loans with the best rate from one of the many licenced lenders. These lenders do not perform a credit check for short term loans up to Â£1000, so thereâs no problem if you have poor credit history.
The fact that you have found GimmeDoshÂ means youâre already looking for a short term payday loan. But, what are the main differences between these and traditional unsecured loans?
There are three main differences:
â¢ a short term payday loan is normally taken out for 3 days to 30 days (i.e. until the borrowerâs next pay date), whereas a standard unsecured personal loan is usually borrowed between a minimum of 12 months and a maximum of 60 months
â¢ the APR charged for a standard personal loan is much lower than a payday loan
â¢ the payday loan provider will not perform a credit check for sums up to Â£1000, whereas all mainstream lenders do carry out a credit check for their loans, unsecured or secured.
We believe in responsible lending and only recommend UK licenced and regulated short term loan providers. Thatâs the reason why such lenders would keep the total allowable borrowing to a maximum of Â£1000, as they wonât be performing a credit check on the applicant.
Although many people who are in employment would be able to get a short term loan payable in 3 to 30 days, whether they have good or less than perfect credit record, you should also only borrow what you need and are capable of paying back by your next payday.
Some younger consumers with good credit records also prefer to use the short term loan online providers, as there are no credit checks that could also affect a borrowerâs credit record, as the credit rating agencies register each credit check requested by a lender. This causes many of the mainstream lenders reject applications from people who have a good credit rating, but have had 2 or 3 checks performed against their name in a short period. So, there is no danger to their record held at the agencies if they borrow a short term loan from payday lenders, as they donât do a check. They also prefer these loans due to the easy and quick application process, where their funds can be in their account within one hour, mostly within 24 hours.
So, it is clear that short term payday loans have their place in the unsecured loan market, even though there is plenty of negative publicity in the press at present. They have been around for a long time and are used by less well off people who need to make ends meet until their next payday due to an emergency or unforeseen expense. The internet has made it even easier to apply and process these loans and it is more than likely the market will continue to grow as more people get online.
Visit the application page here.