Short Term Loans as the name suggests is a type of loan in which a certain amount of money is loaned to an individual after which the loan can be repaid over a long period of time. Short Term Loans are one of the most popular loans that are availed in the United Kingdom. What makes Short Term Loans different from the other loans lies in its repayment method. Unlike most loans in which the amount has to be repaid in a single transaction, Short Term Loans allows the loan to be paid back in instalments over an extended period of time. This level of flexibility makes Short Term Loans a more popular alternative to other traditional forms of loans such as Pay Day Loans.
Applying for a Short Term Loan is relatively easy and the entire process is done using online services, thus doing away with the need of appointments and face to face interactions. Pay Day Power as such provides for a platform which allows customers to apply for short term loans online. What makes Pay Day Power different from other lenders is that we do not carry out credit checking of our customers when they apply for a short term loan. Short Term Loans are also very quick and as such, if a customer has been approved to receive a short term loan the funds are transferred to their account in just a short amount of time. The lender will also provide a detailed overview of the loan amount and the dates on which the loan must be repaid. Therefore, it is highly advised for individuals to keep themselves informed of the loan amount, repayment dates and other important information which are included in the contract.
At Pay Day Power, Short Term Loans are offered in two types and they are Short Term Loans Bad Credit and Short Term Loans No Credit Check. Both these Short Term Loans differ slightly from each other and a detailed overview of these services are mentioned below.
Short Term Loans Bad Credit is for people who find it difficult to secure a loan from financial institutions such as banks and traditional money lenders because of their bad credit history. This service enables individuals who have a bad credit to borrow small amounts of money which can then be repaid in small amounts over an extended period of time. As such people with bad credit have a chance of making their financial position better with this type of short term loan.
Short Term Loans No Credit Check here offers loans to people who are need of financial assistance without taking into account or checking their credit history. Some lenders refrain from giving out loans to customers based on their credit history, but this is not the case with Short Term Loans No Credit Check. Here Pay Day Power does not check the credit history but instead look at other details to determine whether an individual is fit for a short term loan. They are Name, Date of birth, Address details and history, Monthly salary, Employment history and Bank Account details.
Short Term Loans as such caters to the financial needs of a very wide variety of people and is a perfect source of financial assistance for people who cannot avail large loans or repay loans in one go.