Short term loans online allow you to conveniently apply for a short term loan of up to £2,000 over 1 to 12 months. These loans take various forms and we work with a wide range of online short term lenders to match you with the lender you need to provide you the finance you require.
Short term loans include products offered by Payday Loans Hub including:
It is not uncommon to require finance in the short term to tide you over and get you out of a difficult financial situation. Many people find themselves in a position at one time or another where they cannot afford and do not have access to the funds they need, often in the immediate term.
We understand that emergencies and unforeseen events occur in life, so we consider all applications, including if you have a poor credit rating. Our online application process is straightforward and allows you to apply for up to £2,000. As long as you meet our application criteria, you can be considered for a loan with Payday Loans Hub. Applications are processed immediately with decisions being made quickly.
Apply for a short term loan today with Payday Loans Hub and we will find you the loan you need to get you back on your feet.
Are Short Term Loans for Me?
There are many different types of unsecured personal short term loans online, with each having its own benefits and pitfalls and Payday Loans Hub allows you to apply for a range of products. Finding which of these is best suited to your specific needs and requirements though is an important part of the application and selection process.
It is always recommended that you clear your debts, including any short term finance as soon as possible, so if you can afford to, repaying early is usually preferable. Everyone has their reasons for selecting a short term loan online, but there are some occurrences and emergencies that arise that are more common than others, leading people to take out short term loans.
Emergency Repairs – This is often the case in the winter where your boiler may break down, a leak may occur in your home requiring immediate repair, or your car doesn’t work, meaning you can’t get to work. Many people do not have the funds immediately available to be able to pay for potentially costly repairs. A short term loan however, allows you to apply for the money you need to be repaid over numerous repayment periods, making it much more manageable.
Outstanding Debts – Many people find themselves in debt across a variety of sources. You may for example owe money on two or three credit cards, making repayments hard to manage. A short term loan can allow you to consolidate these existing debts into a single debt for repayment. This means you can focus on clearing your total debt as soon as possible.
Limited Access to Credit – Not everyone has access to the short term credit they may need. For example, you may only have a single credit card on which you are not able to borrow any further money. Alternatively, it may be the case that you have been refused credit elsewhere due to a chequered credit history. Hence, you may not be able to apply for loans with other lender, whose criteria you may not meet.
Payday Loans Hub, consider every application on its own merit which means that you are not necessarily excluded from receiving a loan just for having a poor credit past. Simply apply online using our simple application form to get started.
How to Apply for a Short Term Loan Online
Applying for a short term loan online is simple and straightforward with us. Simply fill in our online application form with the required details and we will let you know whether or not you are eligible for a loan. Our process allows you to select how much you need to borrow and over how long, with a flexible number of repayment periods to make your loan more effective and more manageable.
Unlike other lenders online, we do not tell you how long you have to repay your loan; you select your repayment terms and your loan amount plus interest is then repaid on these terms.
Our Lending Criteria
We have a necessary lending criteria for all short term loans we offer and subject to meeting this, you may be eligible for the loan you require:
- You must be a UK resident
- You must be over 18 years of age
- You need to have a working debit account
- Your contact details must be up to date (address, email, telephone number)
What Are the Benefits of Short Term Loans?
All loans, be they online or otherwise have benefits and pitfalls. However, there are a number of advantages to short term loans as opposed to longer term or even payday loans. These may include:
- Quick Funding – Upon approval, short term loans can be funded and in your account on the very same day, sometimes within minutes of approval, giving you peace of mind that the money is there for you as required
- Manageable Repayments – Longer term loans tie you into repayments for a long period of time, with some lenders not allowing early repayments. However, when it comes to shorter length loans such as payday loans for example, you may not be able to fulfil the repayment terms, which require the entire loan plus interest to be repaid in one single repayment at the end of the month
- Can Help Build Your Credit Rating – By repaying your loan on time, you may be able to improve your credit rating by showing responsible credit behaviour
- No Guarantor Needed – Unlike guarantor loans, you do not need to involve a third party to act as your guarantor. Our short term loans online are unsecured personal loans of up to £2,000, that do not necessarily require a guarantor
What is the Difference Between a Short Term Loan and a Payday Loan?
Short term loans include a wide range of different types of short term personal finance. However, perhaps the best-known example are payday loans. These are loans that are taken out over a short period of time and repaid in a single repayment. For example, a borrower may borrow £500 in the form of a payday loan. This will usually require repayment of the loan amount plus interest, in full on a predetermined data, around the borrower’s payday.
In the case of payday loans, the borrower must repay in full or risk expensive penalties, interest increases and a damaged credit rating. Other short term loans however, often allow borrowers to repay in instalments and over numerous repayment periods. This makes for often much more affordable and manageable loans. Rather than repaying everything in one go, the borrower spreads out the cost over a number of weeks or months.
Moreover, the interest charged on a short term loan, spread out, is often lower than that of a payday loan. All of these loans however can incur penalties of one kind or another should you miss your repayments.
Apply Today for an Unsecured Short Term Loan
Apply for a short term loan with Payday Loans Hub today to get yourself started on the path to acquiring the short term loan you need to get back on your feet. Whether for an emergency, unforeseen expense or anything else, we consider all short term loan applications from all customers. Apply today.