If you have a bad credit rating and need to take out a small loan the chances of approval are better than if you ask to borrow a large sum of money. People with poor credit ratings often wonder what their chances of borrowing are and whether the lender will check their credit rating. So what are the chances of someone with a poor credit rating getting a £100 loan no credit check fast?
Are There No Credit Check Loans?
The first thing we want to clarify is whether there is such a thing as a no credit check loan. As the credit check is how the lender determines whether they approve you or not, lenders will want to peek into your credit file regardless of how much you need to borrow.
Things that lenders check on your credit file include:
- Any missed repayments;
- Late repayments;
- Outstanding debts;
- The percentage of credit you have used.
It is not all bad news though. When you apply for a small loan, the lender is not going to be too worried about your credit past. More so if that loan is only for £100 as to the lender this is a very small sum of money. However, they do check but generally, only make a quick check. What they will be more interested in is if the loan is affordable to you.
The Payday Loan – A £100 Loan No Credit Check with Fast Payout
The payday loan is the closest thing to a no credit check loan that you can get. The loan can be taken out to cover just about anything but is more commonly taken out to cover a financial outlay that was not planned.
You might need to borrow £100 to cover an unexpected bill that requires paying before you are paid again. You might need it to get out of an unauthorised overdraft that you have found yourself in and payday is still some time away. These are just a couple of the most popular reasons but you could essentially borrow a small sum to cover anything.
Fast Application and Payouts
Payday loans are quick to apply for and are sometimes called quick or fast loans. They are also loans where the payout is fast if approved. In most cases, the funds from the loan are paid out within hours of you making the application online because there is no paperwork involved. You apply online for the loan and sign for the loan online.
Repay Within One To Three Months
You can repay the loan on your next payday in full along with interest or you can spread out the cost of the loan over three paydays. If you can afford to repay the loan in one, it is the cheapest way of borrowing with a payday loan. Of course, you have to make sure that when the lender takes the money out of your paycheck you have enough money left over to last another month.
How We Work
We are not direct lenders ourselves. Instead, we have the privilege of working alongside a large panel of lenders. We think of ourselves as being the bridge that spans the gap between people with poor credit looking for loans and lenders willing to consider them.
Take a Shortcut over the Bridge
We lay down the bridge welcoming you over to the other side, a side that you might have come across yourself eventually by finding a loan on your own, but think of it as a shortcut.
We provide the shortcut to access numerous lenders all of whom consider a verifiable income along with credit ratings. These lenders have offered loans in the past to people like you with a poor credit rating and they offer loans with some of the most competitive rates.
If you only need to borrow a small amount of money and you can repay it back quickly, and have a verifiable income with enough disposable income left over, you stand a good chance of being approved.
It is Quick and Easy to Apply for Your Loan Online
One of the benefits of applying for a loan online with our help is the time it saves making the application as everything is done online.
You do not have to wait for a decision as you get an instant decision and you do not have to wait for paperwork to be sent out to you for you to sign and send back.
So you do not waste any time at all you first have to ensure you are eligible to apply for a loan.
- You need to be aged 18 at least;
- You need a regular income (some benefits are considered);
- You have to hold a UK bank account;
- Have a debit card attached to the bank account.
If you can say to the above, you are eligible to apply for a loan and can proceed.
The next step to apply for your £100 loan no credit check needed is to provide us with your personal details. You have to be open and honest about the income that comes into the home each month and what you payout. The lender will work out if the loan is going to be affordable or if they think, it will put stress on your finances.
Lenders will want proof of your income and may request bank statements or payslips to show you have money paid into your account on a regular basis.
If we can match you with a lender, you can visit their site to check the details of the loan and if you are happy with it go ahead and sign up.
The whole application process is fast and easy and the lender may be able to pay the money into your bank account on the same day. Often money is transferred into your account within hours.
While there is no absolute guarantee that you will be approved for a £100 loan no credit check, we can help you to boost the chances of approval and it takes just minutes.