Apply for a £100 Loan Online
It is not always easy to make ends meet, and most people are living from one pay day to the next. Mortgage/rent payments, bills and daily expenses can all burn a hole in our pockets and at times, you might find yourself scrambling about for money. If you find yourself without money and a credit card bill arrives or you need to make urgent repairs, you might not have anywhere to turn. It’s not always easy to ask family and friends for a loan of money – pride often gets in the way, but this doesn’t mean that bills go away! If you need to cover costs until pay day, you might find that a £100 loan from a direct lender may be the best way to cope with your urgent needs. If you have bad credit, it can be difficult to get a loan from a bank, especially nowadays and in these cases you might want to look at a £100 loan from a direct lender for bad credit. Whether it’s a bill or any other purpose, we can provide you with a lender who can help you take care of your urgent needs.
How can i get a £100 loan?
£100 loans can be applied for online with almost any short term direct lender. £100 loans are smaller in value than traditional personal loans, so you will need to find a lender that specifically offers short term and lower value loans
We live in a world were bills seem to be getting higher, while wages seem to be static, and this causes problems with cash flow, especially when sudden bills arrive. Many UK households don’t have any savings in place and this can make it difficult when financial circumstances are less than ideal. In these cases, short term cash loans can be the only option to cope with the shortfalls and even a £100 loan from a direct lender for bad credit can act as a life saver. Whether its day to day expenses or an unexpected bill, even £100 can help you keep afloat until your next pay day. The good thing about these loans is that you can get them quickly, often even on the same day, and there are options even for people with bad credit. If you can’t wait until your next pay day, a £100 instant loan will tide you over in the meantime. If you are suffering from a financial shortfall, you may want to consider some of these options, before you apply for a loan.
- Current Expenses – if you have subscriptions for Netflix, Spotify or anything else which is more of a luxury than necessity, it might be time to look at taking a break from these until your situation is a bit better.
- Ask Friends or Family – could a friend or family member help you out until you get paid?
- Have a Sale – do you have some belongings such as clothes, books in your home that you no longer need? If so, why not have a sale and make some money.
Can i apply for a £100 loan with a direct lender if i have bad credit?
Nearly all direct lenders welcome people with a variety of credit histories. For example if you have bad credit and are applying for a £100 loan with a direct lender, you can still get accepted although the interest rates may differ slightly when compared to someone with a good credit history. Direct lenders will be more reluctant to approve a loan for a larger amount if you have a bad credit history. So if you are applying for a £100 with a bad credit history, do not necessarily think that the direct lender will automatically reject you.
What are the repayment options on a £100 loan?
£100 loans are usually repaid in full on your next payday. However we work with a number of lenders who offer flexible repayment options. You make the monthly payment you can afford, without leaving yourself short of cash for the month. In many cases, you can choose the duration and the amount you want to pay back each month. Flexibility with repayment can be an attractive option for borrowers, especially if you’re on a relatively low wage or you have a lot of outgoings.
Representative ExampleYou may decide to borrow £100 from a direct lender for bad credit, or you may decide on a higher amount, such as £1200.
If you were borrowing £1200 for 18 months at an interest (APR) rate of 49.9%, the monthly payment would be £90.46 per month.
It is important to be aware of the interest rate and how much this will cost you in total, not just the loan amount. You should only take out the amount of loan you can realistically afford to pay back. If you don’t pay your loan back on time, you could be subject to further charges, increasing the total amount you need to pay back.
Can i get a £100 loan today?
Yes, all of our direct lenders provide same day money transfers which means you can apply for a loan and if accepted you could receive your cash on the same day.
If you are looking for a loan and you want one today, then there’s options available to you. The first step for a £100 from a direct lender for a bad credit application is for them to undertake a credit check, before they decide whether or not they can lend to you. They will also usually ask details such as your incomings and expenditure, so they can evaluate what options are available to you. Banks and other financial institutions are notoriously difficult to get loans from, but payday loans are a lot easier to get, even if you have a bad credit. If you need a loan today, it may be available to you, depending on the lender. In some cases, lenders will credit the money to your account within hours of making the application.
If you have a poor credit history, don’t worry – the credit checks are usually “soft” which means they are really looking out for serious issues, such as CCJ’s. In some cases, they may even accept your application if you have a CCJ have been bankrupt or have been on a debt management plan. Payday loans are usually small, up to a maximum of £2,500, so they are much easier to get and they offer greater flexibility in the terms of the loan. If you have been turned away by your bank, don’t worry – payday lenders don’t tend to be as strict as banks are when it comes to lending.
Even if you are accepted for a £100 loan from a direct lender for bad credit, you don’t have to accept it. You may decide on another option or perhaps you feel that you can’t afford the repayments. Simply applying doesn’t mean you are accepting the loan, as you still need to sign the contract and this is when you can decide whether or not to go ahead. In some cases, the loan provider might decline your original application, but offer you a different loan amount.
There are many different reasons why borrowers need a loan and you’ll find that most reasons are valid. These are just some of the popular reasons for applying for a loan.
What can i use my loan for?
You can use your loan on anything you like, however the most common uses of a £100 are; rent, bills, extra cash before payday and even a car repair bill.
Rent or Mortgage – rent and mortgage payments are a priority and should come before any other bills. It often feels like rent or mortgage payments come round more quickly than once a month, and there may be occasions when you are struggling to make payments. Perhaps your earnings have been lower for some reason or you have had more outgoings than usual. This is where a payday loan can be useful. You can borrow the money until your next pay day and make sure you keep a roof over your head.
General Bills – bills can vary from month to month and you may end up with one you hadn’t budgeted for. In these cases a £100 loan from a direct lender for bad credit might help tide you over and make sure you take care of your bills before you get paid.
Car or Home Repairs – you can’t really predict what might happen in terms of repairs for your car or home. Therefore, it can be difficult to budget for these kinds of outgoings. A payday loan can be the perfect answer for ensuring you take care of any repairs you need.
Holidays – we all need a holiday from time to time, but it can be difficult to get one if your earnings are lower than you might like. In these cases, you might just want a short term loan to help you get a break away and you can pay it off on your next pay day.
There are many reasons to take out a short term loan, instead of applying for one through your bank.
- Higher Acceptance Rate – if you need a loan and you have a less than perfect credit rating, it can be extremely difficult to get accepted for a loan. With a payday loan, the acceptance rate is much higher, and there are usually options available, even if you have a poor credit rating. We work with lenders with a range of lending criteria, so we can provide you with the best option to suit your needs.
- Instant Loan – if you need access to cash straight away, a payday loan can be the perfect answer to your shortfall. You can often get the cash within the same day or even, within hours of being accepted. If you can’t afford to wait for your cash, this can act as a lifeline.
- Convenient – banks require a lot of documentation and will ask you many questions before they decide whether to accept you. This can feel quite intimidating and it is also extremely time consuming. Short term loans, such as payday loans, are quick and convenient. No need for awkward questions and difficult conversations. Most lenders don’t even ask for documentation to process your loan.
- Short Term Needs – no one really wants to drag out their debt and this is often the case with personal loans. It can be tempting to take the loan out for the longest period possible, but this often just prolongs the debt. Payday loans are ideal for covering short term needs, and you pay them back on your next pay day, so you don’t build up any debt.