Quick Loan No Guarantor – can you take out quick and easy cash? According to various quick loan lenders, it’s completely possible. The best part is that most people do qualify for these loans—many don’t require a guarantor/cosigner but still require a credit check.
Find quick loan no guarantor now
Many quick loan no guarantor lenders offer payday loans. They’re common for a reason. Lenders frequently advertise payday loans or cash advance loans to borrowers who qualify. What makes them ‘quick cash’ loans is that prospective borrowers can immediately receive their funds and repay over the time agreed.
Most quick cash loans have terms lasting as short as 4 weeks to as long as 1 year. The idea is that the borrower will eventually repay their loan in full all as originally agreed.
Representative 277.5% APR - Representative Example: Amount of credit: £750 for 12 months at £119.21 per month. Total repayment of £1430.52. Interest: £680.52. Interest rate: 140% pa (fixed). 277.5% APR Representative.
Borrowers are also allowed to roll over their loan repayment if they can’t repay on time, but they’ll have to pay additional fees to do so.
Are quick loans worth it?
Quick loans, although convenient, do come with a significant price. Payday loans typically have excessive fees, which are usually based off the amount that a borrower may take out. Most lenders charge a fee based off a percentage of the borrowed amount or APR.
High annual percentage rates also make quick loans costly. The annual percentage rate for these loans commonly total in the hundreds, causing fees to balloon past what a borrower would usually expect to pay.
Predatory lenders often expect borrowers to keep rolling over their loan if they can’t repay on time. That directly contributes to the costs of a payday loan ballooning past a reasonable level.
What alternatives do I have if I need a quick loan?
Fortunately, you can find a quick loan no guarantor alternative on the market. It just takes some time to find one. You can request a small loan from your bank or another financial lender like a credit union.
This might not the best option for low or poor credit borrowers, since they might require a credit check or cosigner.
The best way to find a quick loan with no guarantor is to click on the links and banners on this website. Based on your credit history, you may be able to take out a few hundred to a few thousand in funds.
You do, however, need to keep paying at least the minimum each month, especially if you plan to carry a rolling balance.