Are you looking for a 15-minute loan and are you considering applying to a direct lender? You might want to consider using a broker like Little Loans instead. That’s because we might be able to connect you with direct lenders happy to work with borrowers whose credit scores may not be perfect.
In the past, the only place that many people could go for a short-term loan was a pawnbroker. But using a pawnbroker comes with its own disadvantages.
With a pawnbroker, you trade an item of value to you such as a watch, jewellery, or an antique as security for your loan. You then pay interest on the loan which has been secured on your item of value. Once you’ve paid off your loan, the pawnbroker returns your item to you.
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But what if you couldn’t keep up with or fall behind on your repayments? You’d lose the item you gave across as security forever. Thankfully, Little Loans connects borrowers with lenders who provide loans that they can afford, and our lenders don’t require you to send them your valuable items either.
It’s understandable that, when you’re looking to find a short-term loan, you’ve considered the financial situation you’re in before you make the decision to apply for one.
You’ll most likely have a lot of questions on issues like credit checks, what the chances are that you’ll be approved, repayment terms, and the amount of interest you’d pay on your loan.
- What are the advantages of 15-minute loans compared to other loans?
- What type of direct loans do Little Loans offer?
- What’s the process for acquiring a loan?
- Do direct lender loans require a credit check?
- Direct loan lenders for people with bad credit
- Reasons for applying for a 15-minute loan from a direct lender.
- Guaranteed lender loans – do they exist?
Little Loans is a broker – we act as a middleman between the customer and direct lenders. And there are a few major and important reasons why we believe that applying for a 15-minute loan through a broker like us can help you find an affordable and competitive option.
When searching for the best bad credit loans, most people want to find loans which are both affordable and competitive for them. A broker uses the information you provide them with to contact the lenders on their panel which are most likely to approve your application.
Let’s say however, that you decided to contact the individual lenders yourself. Each lender has their own requirements and criteria for the type of borrower they look for so there may be a chance that your loan application would be automatically rejected anyway.
When you complete your application for a short-term loan through a direct lender’s website, that lender is then required to carry out a hard credit check on you to determine whether you’re eligible for that loan.
Hard checks negatively affect your credit score. It might be better for you to restrict the number of direct lenders you apply to because the more direct lender applications you make, your chances of being approved will likely go down with each lender.
This is where a broker like Little Loans comes in. By using a broker like us, only one hard credit search is carried out by the lender whose website we redirect you to after you’ve completed the application form on our site.
What type of direct loans do Little Loans offer?
Little Loans work with reputable and established lenders, authorised and regulated by the Financial Conduct Authority (FCA), for borrowers looking for an instant decision loan for between ?100 to ?10,000 repayable over 3 to 60 months. We specialise in check my site helping people with bad credit find a loan.