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While a sum like £200 might not seem like much to some people, to others, it’s the difference between a good night’s sleep, and days of panic and stress. Sometimes even a small amount of money can have a huge impact on your life.
So, why is it so difficult to borrow a small amount of money? It seems like there are countless loan providers out there boasting their ability to offer big loans covering thousands of pounds. But what about when you only need a little bit of extra cash to deal with an unexpected bill or tide you over until you next get paid? Are there such thing as £200 loans?
Here at WageDayAdvance, we know financial emergencies can come in all shapes and sizes. That’s why we help customers find loans to suit every situation – not just the big disasters.
In theory, a small loan for just a couple of hundred pounds should work just the same as any lending opportunity. Unfortunately, that’s rarely the case. Most of the time, loan providers have limits on what they’re willing to offer borrowers. Crucially, these limits don’t just restrict how much money you can borrow by putting a cap on your available amount.
Most loan providers and banks will also only offer loans if the amount you want to borrow goes over a certain level. This helps to ensure your loan provider makes money off your lending needs by charging interest over time.
To make matters worse, the amount of flexibility you’ll have when it comes to applying for a loan will usually be dependent on your credit score. Unless you have an excellent credit score, unlike the majority of UK citizens, you’ll have even more restrictions on what you can borrow, how long you can borrow it for, and so on. If you don’t have the best credit score, you might not even be able to access loan products from a typical provider.
At WageDayAdvance, we partner with FCA approved lenders from across the UK to ensure you have access to as many potential loan opportunities as possible. Our diverse selection of partners makes it much easier to track down a loan provider willing to offer the kind of assistance you need. This means you can even borrow small amounts of cash for a shorter period of time.
Most people who have had unexpected bills or financial emergencies in the past know that loans don’t have to be huge to have a massive impact on your life. Sometimes, borrowing just a little extra cash can be enough to help you fix a crucial appliance in your home, or ensure you can get new a new tire on your car so you can get to work.
A £200 loan from the right lender can be a straightforward and quick experience. With our help, you can find a short-term loan provider who can offer the money you need quickly and effectively. Usually, all you’ll need to do is fill out a simple form, where you can provide your potential lender with all the information they need to determine whether you should receive a loan.
Our quick partners can assess your situation quickly, often looking beyond things like credit scores to determine your affordability rating and decide how much they can offer you. In some cases, we can even help you to get a loan from a provider within 24 hours. That’s perfect when you’re borrowing money to help you handle an unexpected emergency.
Most of the time, once you’ve gotten an offer for a small loan, you’ll need to look at the information available from the lender to decide whether it’s right for you, then accept the loan. We make sure the lenders we work with are totally transparent, so you’ll know everything you need to know about any fees and term requirements before you go ahead with your loan. You’ll even be able to access information about the company’s customer service policy.
Once you’ve accepted the loan and the term for how quickly you want to pay your money back, you’ll be able to get the money issued to your bank account within a matter of hours in some cases. Just keep in mind that short-term loans often come with shorter terms, based on the amount of money you need to borrow. This is great if you only want to worry about paying back your loan for a few months instead of a few years.
When it comes to borrowing money from any kind of lender, it’s important to know exactly what you need. Take your time to think about why you’re borrowing the money. For instance, if you’re using the cash to pay off some bills, are there additional fees and expenses you need to worry about, as well as accessing the money to pay what you owe?
If you’re paying to repair a broken appliance, think about whether you need to have someone come out multiple times to fix the issue, and how much you’ll need to borrow if you need to replace the product entirely. Taking the time to consider exactly how much cash you need should ensure you don’t end up in a sticky situation right after you’ve been approved for your small loan.
If you decide that £200 is enough for your needs, then you can use our algorithm to instantly get matched with the lenders most likely to approve your loan. This ensures you can spend less time worrying and searching for lenders online, and more time fixing any emergencies that need to be addressed in your life.
Even better, when you get our help to find the right loan solution, we’ll only do a soft search to check which lenders you’re compatible with. This means we’re not going to leave any marks on your credit report. You can protect your score and prevent anything from scaring away potential lenders.
What’s more, our lenders are completely flexible with their loan arrangements. Most of the time, you won’t need to explain things like why you want the loan. Just show you’re capable of paying back what you borrow, and you’ll be ready to go.
The cost of the interest on your £200 loan will depend on various factors, including which lender you choose, your credit rating, the term or life of your loan, and more. We’ll always match you with completely transparent lenders, so you won’t be caught off-guard by any unexpected expenses.
Most of the time, small loans are provided by payday lenders, because they’re more likely to be flexible about the amount they can offer. However, this doesn’t mean you need to pay back what you owe on your next payday. Sometimes, you can arrange for more flexible long-term strategies.
We don’t do anything on our end to damage your credit score – in fact, our soft-search strategy helps to protect your rating, by ensuring you don’t have to make multiple applications to find the right provider. Paying off your loan on time will also help to improve your credit rating too.
Generally, you get more flexibility from lenders when you have a great credit score. However, that doesn’t have to be the case with WageDayAdvance. Our wide selection of partners means we can find loan providers who don’t mind working with people who have bad credit.
All loans require a credit check in the FCA. Fortunately, when you find loan providers with WageDayAdvance, you can reduce your risk of being rejected by a loan provider. We pair you with loan providers most likely to accept your loan, so you can relax.
In some cases, yes. Many of our lender partners are extremely quick with their payments. Depending on your situation, you may be able to access funds the same day, or within 24 hours.
No matter what you need your loan for, or how much you need to borrow, WageDayAdvance can help you find the lender that’s right for you. Our approach to perfect-match lending ensures you’re more likely to find the lending solution you need, without the threat of rejection.
Even when you only want to borrow a small amount of cash for an unexpected issue, we can help to match you to a lender who understands your situation and delivers the kind of loan solutions you need. It all starts with a simple online application.