What can I use quick loans for?

Borrow ?650 for 6 Months, 5 monthly Repayments of ? and one last repayment of ?. Total repayment ?. Interest Rate PA (fixed) %, Representative APR %. All our loans are available for a duration of 3 to 6 month.

Quick Loans allow you to borrow up to ?1,000 and receive funds within 1 hour of approval. At Payday Bad Credit, we work quickly to process your application and help you receive funds in a matter of hours or on the same day. The system we use, known as FPS (faster payment system), allows us to transfer the funds faster than a standard BACS payment.

Our products are specifically bad credit loans for those individuals who may have missed some payments in the past but are ready to apply for finance and rebuild their credit scores. We are ready to take on those with adverse credit histories and instead look at your recent track record, their site your income, affordability and expenses to make a decision.

The online application at Payday Bad Credit takes just a few minutes to complete, and you will receive an instant decision letting you know if you have been provisionally accepted or not. There are no upfront fees for applying, and you can get started below.

Quick loans are designed to help people pay for immediate and emergency expenses. Whilst we always put money away for a rainy day, we never know when we are going to need money fast. When you are running a household, a car and having children, there are plenty of expenses that come from out of the blue, including home repairs, urgent plumbing, broken down cars, doctor bills and more.

Sometimes we need just a little extra money to see us through the month, and this is where a quick loan can help. No need to worry how you are going to make it to the end of the week – you are able to borrow a few hundred pounds to restore some order and give you some breathing space. Successful applications have the money transferred to your bank account in one lump sum so that you can use the funds and pay for your expense immediately. Simple.

How do quick payday loans work?

Payday loans provide you with much-needed income until you receive your salary from work, known as your payday. So whilst many people will be waiting for payday to get their next paycheque from work, you can access the money faster through a quick loan and then pay interest for the duration of the loan term.

Traditional payday loans were typically used within 2 to 4 weeks, whereby customers would borrow the money and then repay on their next pay date. The average sum borrowed was ?200, and customers would commonly repay ?240-?260.

Following FCA regulations, recent changes have moved lenders away from the traditional payday model to a more instalment loan product. Quick payday loans today are more likely to be repaid over 6, 9, 12, 18 or 24 months, giving customers much-needed breathing space and the ability to repay loans with smaller payments over a longer period.

How can you speed up the application?

Lenders are always required to carry out checks before funding a loan, and therefore they require at least 1 hour before being able to transfer funds. However, there are some things you can do to speed up the application process:

Have your details ready: Your loan application always starts with filling in some information online, which you can do by clicking on ‘apply now.’ You can make sure that you have your details ready when filling in the Payday Bad Credit application form. Information required includes your monthly income, expenses and bank details so that the lender knows where to send the money to. You can avoid scrambling through papers and instead have your information at hand and ready to go.