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Need Cash Urgently? What To Do If Your Bank Won’t Listen

Fact:              Banks give out loans.
Reality Check:     They don’t always give them to you when you need the cash

Many people think of their bank first when they need a cash loan and why not? This is after all a big part of what they do as a business. But, a bank loan is not always the right way to raise cash, especially if you want a relatively small loan and want to pay it back fast.

The fact is that banks prefer to give out loans for bigger sums over longer periods of time. This allows them to make more money on interest payments. And, banks don’t always approve loans even if you know you can afford the repayments. Sometimes, getting a bank loan can be a bit like playing the lottery. You queue a long time to buy your ticket, wait days for the numbers to be called and then come out of the whole experience without the result you wanted!

Fact:            Payday loans companies give out fast small loans
Reality Check:    If you are over 18, employed and a UK citizen then they can help you get the cash that you need

A payday loan company, on the other hand, isn’t interested in giving out a large loan for a long period. These companies specialise in giving out small loans based on your income for a short amount of time. Payday loan companies make their money by working with all those people that banks cannot or won’t help. Sure, they’ll charge you interest but they’ll also help you get small amounts of cash immediately that you will pay off in days or weeks when your next pay check comes in.

You can arrange a payday loan from home for up to £750 and you can apply online in minutes which could see you receive your loan in under a day. You get the cash you need, you’ll have a specific date to pay it back so you won’t incur months or years of interest charges and you won’t incur the high costs of exceeding your overdraft. So, no matter why you need the cash and what you want it for, consider a payday loan first before your bank has the chance to say no!