More and more of us are living paycheque to paycheque. It’s easier now than ever for people to run short on money, and this means more and more people are in need of fast financial support. So where do you look when time is short and cash is even shorter? In this list, we’re pointing out the 4 best easy loan ideas for people that need the funds as soon as possible. Let’s go!

 

1. Payday loans

This is number one on the list because this type of loan is super fast, reliable, and will always be easy to grab when you need it most. At PPL, we’re proud to be one of the leading payday loan providers in NZ. What exactly is a payday loan? It’s a loan that gets paid to you as quickly as possible, as long as you agree to repay what you owe by the time you get your next payment from work.

These loans are popular for a mix of reasons but their main advantage is speed. Payday loans don’t require a credit check. Not only is this great news if you know your score is relatively low, it also means this very time-consuming part of the loans process is effectively cut out. Our payday loans can be paid to you within hours of your application. People tend to take payday loans because they’ve gone over their household budget and need the funds to pay for something that’s very urgent. They’re designed for emergencies rather than personal purchases.

The other reason short-term loans are on the rise is their sheer convenience. You can apply through our website online at any time of the day or night, ask for the exact amount you need instead of having to take set limits, and have the money in your account within 24 hours. If you’re really pressed for time, want your loan from a professional source that’s always going to be ready to help, and don’t want to mess around with credit checks, a payday loan is the ideal way to go.

 

2. A pawn shop loan

This is only an option if you have something valuable in your possession that you could potentially sell completely. It’s our number two option because the money could be accessed within hours if there’s a pawn shop close to you. The problem is, it’s nowhere near as convenient as a payday loan.

Heard of Cash Converters? Pawn brokers are very similar. Cash Converters mainly deal in outright purchases but a more traditional pawn brokers will agree to hold your items for a period of time to give you the chance to buy them back. If you don’t have anything valuable you can offer up, this isn’t really an option as most brokers are only interested in purchasing items that meet a certain value.

 

3. Unsecured loans

Unsecured loans are suitable for people that have amazing credit scores. They can usually be arranged without the need for lengthy paperwork meaning they can be paid within days. Secured loans require you to put up an asset as collateral. They take longer to pay out because the processes involved in certifying the value of your assets. Unsecured loans can be for larger amounts than payday loans, but you won’t find an unsecured loan that can be paid out anywhere near as quickly a payday loan.

 

4. Cash advances

There are two main ways to get a fast cash advance. One is from your bank and the other is from your place of work. Your bank can give you an advance by letting you take out an overdraft. It’s always better to make sure you arrange an overdraft rather than taking an unarranged one, as unarranged overdraft fees can be crazy high. The last thing you want is to land yourself in a situation where you need help with debt.

The other way to get a cash advance is from work. You’ll need to ask your boss for an advance of your wages in cash. It will come out of your upcoming payments and might be possible without any fees or interest. This isn’t always possible especially if you work for a small business or if you’ve not yet built a great relationship with your employer. If you’ve been a solid employee at your place of work for a decent amount of time, this could very well be an option.

 

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You can read more about easy loans with no credit checks here, and in our previous blog post: Best Options For An Easy Loan With No Credit Check NZ