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Well, if you are in need of some immediate cash in hand, there are quite a bit of choice available nowadays. Gone are those old days when loans were available only from the banks or in the worst cases, taken from the pawnbrokers. Gone are those days when people would line up in front of the conventional banks for long hours. With better things coming up in the world, better and more convenient options for loan borrowing are also coming up. And, the short-term no credit check loans are one of those easy and felicitous borrowing options.
Here is an insight about a few things regarding this congruous loan.
As the name suggests, “No Credit Check loans” are a type of short-term personal loan in which the lenders will not carry out any credit checks. The lenders will not consider the credit scores as one of the important criteria while choosing a loan. So, people who are having a poor credit score are also eligible for applying for this type of loan and most of the times, the loans are approved. However, there are many others factors which a creditor will consider before approving a loan.
In the UK, the credit bureaus and agencies have set a fixed credit score range for classifying the financial credibility of an individual. The scores are calculated to fall in between 0 – 1000. Most ratings in the UK fall in between 300 – 850. A credit score with a number below 300 is considered to be very poor and anything more than 850 is considered to be good to excellent. Different agencies like Equifax and Experian have their own different credit score ranges.
There are many different types of quick loans that will be provided quickly to the borrower. The payday loans, the installment loans, the auto title loans, etc., are all quick loans that are provided for poor credit scores. The borrower will have to choose a suitable loan according to his preferences and limitations.
Fill in the application form and provide your basic details for us to know about you.
Our financial team will carry out soft verification process and will give instant decisions regarding your loan approval.
Once the loan application is approved, the money will be in your active bank account at the earliest.
A credit score is considered to be an indication of the person’s financial credibility. When the score is good, it means that the person is very responsible on the financial aspect and if the score is low, he is portrayed as a financial threat. Most conventional banks and traditional financial institutions blindly reject the application forms that have a poor credit score. That leaves people with poor credit scores with no reliable options to borrow a loan. That is when these quick cash lenders come into the picture as they provide loans for people with bad credit scores.
Also, these loans do not need any collateral or guarantor, so they are unsecured loans. Since they are unsecured loans, there is no fear of losing an asset. So the lender is at a higher risk. Therefore, most private lenders and credit financiers will carry out a soft verification as they will have an assurance that their money is going into the right hands. Since it is an unsecured bad credit loan, they should be convinced that their money will be rightfully repaid to them.
Applying for a quick cash loan at FleetQuid is very easy. You will have to fill in the online application form on our website along with the required details. We will go through your application form and a suitable lender will process it. If all the criteria have been satisfied, the lender will carry forward the loan process. Once the loan is approved, the money will be in your account at the earliest.
At FleetQuid, your application form will be in the hands of reliable licensed lenders who will abide by the regulatory laws and apply considerable APR. They will work with you by considering your preferences and limitations and will provide suitable loan terms. So make sure that you are aware of all the terms correctly and stay alert at all times.
Representative example: £1500 loan taken over a 12-month term will have a total payback amount of £1,764.96, at an APR of 36% with a payable interest of £147.08. The loan amount does not need to be paid as a lump sum and can be repaid in installments.
FleetQuid is not a direct lender but functions as an authorized broker who is thoroughly regulated by the FCA. We provide free services for our customers to use this website. We work by comparing the loan options from more than 40 lenders as per your requirements and will get you the most preferable options with the lowest possible APR. You can apply for a loan amount ranging from £100 - £5000. The lenders will apply considerable APR with the maximum being 36%, depending on the loan amount and other factors.