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Borrow £500 for 4 Months, Four Monthly Repayments of £215.81 Total repayment £863.24 Interest Rate PA (fixed) 270.10% Representative APR 997%
Instant Solutions Loan
Sometimes, there are moments in life where having an additional £500 or even £100 can make a big difference. Unforeseen costs and expenses can pop anytime and when money is tight, those few extra hundred pounds can really tide you through until your expected paycheck arrives.
Now if you consistently get caught up in such a difficult situation or if you want to know what to do in case it happens at some point in your life, you certainly need to have a viable solution that you can turn to anytime. This may be the reason why you searched for quick solutions loan and stumbled upon this article.
There are plenty of blogs and sites that offer some information and insight on the quick solutions loans. But if you want to know whether or not they are indeed the best options for emergency funding instances, then you have come to the right place.
What is a quick solutions loan?
Quick solutions loan will allow you to borrow money from a legit lender with relative speed and ease so long as you can pay back what you owe in a certain period of time. The financial products are generally offered in small borrowing amounts, from £100 to £2,000 pounds, with desperate loans no guarantor or collateral needed.
There are instant solution loans like payday loans that will require you to pay back the entire amount that you borrowed plus its fees and interest rates in your next payday and there are also those that will allow you to slowly pay back your debt through installments for several months.
Overall, fast solutions loan are short-term forms of funding that are designed for emergency funding needs and reasons. In times when your car breaks down or there is an urgent medical bill that you need to cover ASAP, the types of funding can help you secure extra cash without breaking a sweat.
Quick solutions loan offer instant funding
Because safe solutions loans were made for emergency funding situations, the credit products can take just a single day or two to become completely processed. After all, in times of emergency funding needs, you don’t have the luxury of time to wait for several days or weeks for your loan transaction to fully materialize.
When you apply for a solutions loan from a lender’s physical store, just fill out a brief application form and the money you requested for will be handed to you in cash right then and there, shortly after you are approved. If you apply online from a lender’s website, the funds will be deposited into you bank account in the same day or the next business day at the very latest.
Key features of a solutions loan
Quick solutions loans are great options to consider if you find yourself in urgent need of extra funds. But before you apply for the type of loan, here are a few important things that you might want to consider first:
- High interest rates. Perhaps the most important thing that you need to bear in mind with a solutions loan is that it normally comes with a high cost of borrowing. For this reason, it would be best to use the loan only when its extremely necessary – when there is an urgent bill or cost that you need to cover and you currently don’t have the funds for it. In addition, never borrow more than what you can comfortably afford to pay back, given your present earnings and recurring expenses, so you won’t become trapped with a loan agreement that will become a bane to your existence.
- Easy to obtain loans. Lenders that offer the financial products can cater and process applications beyond normal bank hours and they are also a whole lot more flexible. This makes the types of loans extremely accessible and convenient to numerous different borrowers. In fact, its even possible to negotiate the terms of your loan so it can better suite your present needs and circumstances and you can request for instant processing and funding when you are in an urgent situation as well. What’s even more, the entire application for a solutions loan is short and seamless. Majority of lenders will only require you to fill out your name, employment information, contact information, and bank account details and you can instantly get approved and funded if you satisfy them.
- Instant funding. As its name suggests, a solutions loan can give you instant relief to temporary but urgent cash needs and problems. When you submit an application for the loan, the lender will evaluate it quickly and make an approval decision in just a few minutes. And once your approved, you can have the small funds ready for use in just an hour.
Important points to keep in mind with a solutions loan
So you can make sure that your quick solutions loan will be a worthwhile financial decision in the end, here are a few important points that you might want to keep in mind always:
- Never take out multiple loans at the same time. You might get tempted to take out another loan if you still find yourself short of cash after already taking out a solutions loan from a certain lender. This is something that you need to avoid at all times if you don’t want to put yourself in a possible financial crisis. Take out one loan at at time to keep things safe and manageable.
- Be wise in using a loan. If you applied for a solutions loan simply because you have been wanting to buy that new pair of sneakers or because you just want to take that exciting adventure with your friends, you might want to reevaluate your decision. Bear in mind that this type of loan tends to have high interest rates which means that you might want to use it for important needs and reasons to make its hefty cost worthwhile.
- Know every term and condition stated in your credit loan agreement. If you don’t carefully go through the terms and conditions of your loan before signing the contract, you might find yourself stunned after the lender charges you with a hefty fee because of a single late payment. Always ensure that you know every detail of your loan agreement so you will have a clear idea what to do, avoid, and expect.
With all that being said, taking out a solutions loan may perhaps be the best option you can consider when you find yourself in a temporary financial crisis that requires quick infusion of cash.
5 most recent personal loan reviews
I love CSC loans I have been with them nearly three years, need a top up as my son is getting married. They where brilliant as usual, no problems, done so quick - they were my life savers when needed most, thank you.
Review posted by Mary Hartnoll, Canterbury
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As guarantor for my daughters, loan the service we got was quick and efficient, did checks, asked questions and all was sorted very quickly, would definitely recommend Together loans to all.
Review posted by Susan Mills, Darlington
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Brilliant service. The application process was a doddle, the Shawbrook representative who called me was polite, understanding and cheerful. The whole thing (from starting the application process to receiving the money) took around 3 or 4 hours. Very quick and efficient and no long or silly forms to fill out. Just what was necessary. Am very pleased I chose Shawbrook.
Review posted by John Marcus, Surrey
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Representative 277.5% APR
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances
Non-payment could have a negative impact on your credit rating and have increased charges and interest rates.