Need a small loan to get you through the month? We know exactly how hard it can be to get by when you’re short on cash. It’s why at PPL, we’re always so open minded when it comes to supporting people through the toughest financial times. In this article, we want to go through some of the most important questions you should be asking yourself if a loan seems like your best option. We’ll start with:
Do you need the money within 24 hours?
If so, you’ll need to look for a company like us that offers payday cash loans that payout as soon as possible. A lot of companies might not be able to match our 24 hour standard payout time, but short-term loans are definitely your best choice when time is short.
If you don’t need the money that quickly, your options are more open. It’s easy to get in a tight jam with money nowadays. Financial planning is more crucial than ever. Most credit cards will be usable within a week or so of your application if you’re approved and there’s always the option of an overdraft if you have an account in good standing with your bank.
How much do you need?
As you only need a small loan, you should be able to secure a small overdraft that suits your needs. If not, you can chose the exact amount you need with a small loan. If you need thousands, you’ll need to apply for a secured or unsecured loan, but these can take days or weeks to arrange.
What do you intend to use the small loan for?
This is one of the first questions we ask people when they apply for our small loans. Payday loans are designed for emergencies, not personal shopping. We all love buying things, it’s how modern society has engineered us to think. The thing is, you have to be careful what you spend your money on and how much debt you raise.
You’ll find that small loans cost about as much as most credit cards if you ever weigh up the numbers. The difference is, credit cards are designed to make you spend as much as possible, whereas responsible small loan providers will always advise that the money should be for urgent costs only.
Already have huge debts with a credit card? No doubt the only reason you have such debts is because the card was so easy to use in the first place. With a fast cash loan from PPL, you should only ever take the smallest amount you absolutely need to get by. Speaking of credit:
What’s your credit score like?
If your score is low, you won’t be able to secure a conventional loan or credit card. Small loans negate the credit check, so even if your credit history is really bad, we’ll still be able to help. Why is there no credit check? The main thing we need to see is proof that you can repay what you owe. The best way to check this is by looking at your current income. Credit checks only tell you how someone has behaved in the past, but we like to be more trusting and focus more on how you aim to behave in future.
When you get turned down elsewhere, we’ll still have the open-minded approach needed to give you another chance. Avoiding the credit check also means the process can be dealt with so much faster!
How mobile are you?
If you can get around without any problems, then taking a meeting at the bank or going to borrow the cash from a friend won’t be an issue. Need the cash in your account right away? With a payday loan, the cash is paid straight to your account and the application can be completed online. Far less hassle and 24 hour accessibility, perfect for the most extreme circumstances.
There you have it! These are some of the most crucial things to ask yourself when you need a small loan right away. Think we’ve missed anything? Feel free to get in touch if you have any other concerns or questions regarding short-term loans and how to access them. We hope this quick list has helped!
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