Small 300 Loans
- Loan £300 online and get funds transferred the same day.
- Interest rates are personalised to your own situation.
- All direct lenders are fully accredited and FCA registered.
Being rich or generous won’t save you from experiencing an emergency; no matter how good you think you are, unforeseen events may tear you and your finances apart. It could be a life-threatening disease, unemployment, or an accident. While it can be addressed in an instant, a small loan amount may satisfy the situation.
300 loans, or other small loan amounts, are loans that are fast and reliable. Compared to banks and high street lenders, this type of credit is easier to acquire. It asks for minimal requirements in exchange for a speedy, hassle-free application process and service. Despite the small amount, many people rely on these loans but before you send an application yourself, it’s worth knowing what the loan is exactly about.
Introducing Small 300 Loans
When you need 300 loans, you may simply rely on small loans or loans that offer a small amount. It can be in a form of a payday loan or a personal loan, promising to release the fund at the soonest possible time, such as one hour. When it comes to its repayment terms, it is short-term thus asking the borrower to settle the loan in as fast as two weeks or more, depending on the agreed terms and conditions. Usually, it won’t ask for any paperwork but in case the lender asks for a file, you can send a soft copy via email or fax the file. After submitting the application form, a verification call will take place to verify the information shared by the loan seeker. The lender will quickly release the decision afterward and once approved, the money will be transferred to your bank account on the same day you’ve applied, or on the next business day.
Small loans online, or 300 loans, are not as complicated as the others but this doesn’t mean that it will approve all the applications. If you can’t meet the lender’s basic criteria, your loan application will end up rejected. Having a bad credit score, for instance, may limit your loan application. You will be lead to consequences: rejection or expensive rates. Being automatically declined usually happens to anyone with a low credit remark. Meanwhile, those who have been accepted suffer from high-interest rates, lower loan amount, and short repayment term.
Some borrowers offer a form of security if they can’t win the lender’s approval; it can be in a form of collateral or guarantor.
Collateral is when you provide a form of security, such as a house or a car, to get the loan. It’s helpful when you have a property and you’re willing to put it at risk. Meanwhile, if you’re not confident with secured loans, you can opt for guarantor loans – or loans that require another person to cosign the loan. It won’t take any of your valuable items but in case of default, the guarantor will repay the loan including the original amount, interest rate, fees, and additional penalties.
Luckily, getting 300 loans is not difficult. It won’t ask for an asset or a cosigner; in fact, many small loan providers will only require the borrower’s bank account and the proof of income. The credit report, unlike loans from a traditional lender, is not the sole factor of the lender’s decision. However, a credit check will still be conducted but this will only use the credit remark to determine the maximum amount you can borrow and the interest rate to be applied. This means that even with a bad credit rating, there’s still a chance for a successful loan application.
Advantages Of Small 300 Loans
When obtaining 300 loans, it’s important to know whether it is beneficial to you or not. If you’re clueless if the loan is worth taking, below are some of its advantages:
Pledging collateral is kind of comfortable, especially if you know that you might default on it anytime. It’s no secret why secured loans are risky so it’s a relief to know that small loans won’t require an asset. In case you failed to plan your finances and you cannot settle the loan anymore, no property will be repossessed. However, you should remember how defaulting on a loan has a negative effect on your credit remark.
When you have little to no savings and you have limited time to address a concern, a small emergency can be devastating. Luckily, 300 loans can help take care of untimely situations. The loan is available 24/7 and it can assist you immediately so you don’t have to wait for the additional cash. Depending on the lender and its loan’s terms and conditions, the amount will be transferred in as fast as one hour!
The application for 300 loans is conducted online, thus there’s no need to leave the comfort of your home or get dressed and endure traffic. It offers convenience since the entire loan application process is completed online. There’s no need to wait for a long time; the next thing you know, the fund is already transferred electronically to your bank account.
No Early Repayment Penalty
There will be times when you’re always short on the fund and it seems like you cannot run away from it; however, this doesn’t mean that you’ll not have enough cash forever. Who knows, after getting 300 loans, you’ll have more than the cash you need that you can settle the loan earlier. It sounds like a good choice but most banks will charge a fee for repaying in advance. Luckily with most private lenders, there are no early repayment penalties. This means that you will not be charged even if you repay the loan before its due date.
Improves Credit Score
Small loans are easier to acquire and this offers a reliable financial assistance to those who will meet the lender’s criteria. Apart from this, it also benefits those who have a poor credit remark or have no credit history at all. Once approved though, be sure to settle the loan on time to fix the damage credit. Also, it’s recommended to avoid committing other financial mistakes such as defaults, arrears, etc.
£300 Loan FAQs
Can I use my loan to repay other outstanding debt?
Once the loan funds are in your account, you can use them for purpose you wish, including consolidating other debts.
Is the whole loan application process done online?
Yes. All you need to do is complete the website application form and one or more loan companies will contact you afterwards to discuss the available options. You are under no obligation to proceed with any of the loan options presented to you.
If I’m unemployed, can I still apply?
Yes. Many lenders are now willing to do everything possible to assist unemployed individuals with loans as well. However you still have to pass eligibility tests.
Is a guarantor needed to apply?
In most cases, no guarantor will be needed when applying for a loan. You will not need anyone lese to co-sign for the loan.
If my credit is bad, can I still apply?
Yes. Many loan companies are now willing to provide loans if you have bad credit. High acceptance rates are common for this type of loan.
How quickly do lenders pay out?
Most lenders pay out smaller loan amounts in an hour or less. However, larger amounts may sometimes take up to 48 hours to reflect in your account. This will be explained to you as you apply.