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Do you need to borrow money?
It’s nearly impossible to predict when an emergency may come your way, be it a broken fridge, a car needs mending or the unexpected bill arrives at your door. Sometimes what’s in your bank will not cover the emergency and still have money to last you until your next payday.
In this situation, you may have savings to cover the expenses, or you may have family and friends that can help you out until you get the money yourself.
Borrowing money from Cashfloat
At Cashfloat, we understand that many people will not have these options available to them, and they may look to borrow money from an online lender. In this guide, you will learn about how to borrow money online and how Cashfloat can help you cover emergency expenses.
Before deciding to borrow money from an online lender, ask yourself the following questions:
- What do I need the money for?
- Can it wait until my next payday, or do I need it now?
- Am I able to borrow money from a friend or family member instead of a direct lender?
- How much do I need to borrow?
- Can I afford the repayments while paying for my day to day expenses?
These questions should help you decide whether or not to go ahead with borrowing from a direct lender.
How much money can I borrow?
With Cashfloat you can borrow from £500 up to £1000 and make the repayments in 3, 4, 5 or 6 month instalments. With Cashfloat’s new Easy-Start option, you have increased flexibility to spread payments out over an extra month interest-free! You can pay back as early as you want and save on interest.
What are the best ways to borrow money with bad credit?
There are many ways to borrow money, even if you have bad credit. The best way for you to borrow money will depend on how much money you need and what you want the money for. If you need a short term loan to fix an appliance or for an emergency and you have bad credit, a payday loan will probably suit you best. Many of our customers have bad credit. As long as you are able to make the repayments, you can apply with us. Remember, do not be attempted to borrow a loan with no credit check from an online lender – as an FCA requirement, all lenders must perform a basic credit check on all applications.
Are there other ways to borrow money quickly?
There are many ways you can borrow money other than by taking payday loans. Here are a few:
- You can ask family or friends for a short term loan.
- If you have an overdraft facility on your current account, you can use it. However, according to the Which?, this often works out to be more expensive than a payday loan.
- If you are looking to borrow large sums of money, you may want to go for personal loans from a bank or a personal loan lender. However, securing a loan from a bank is a lengthier process and may not be ideal if you need the money quickly.
How can I borrow money online safely?
Keeping safe online when applying for a loan is one of the most important things you can do for yourself and your financial stability. When researching a potential lender, there are a few things you can look out for on their website, which will show their legitimacy. Check if they have their full contact details clearly written and if they are registered with the Financial Conduct Authority. You should be able to click on the registration number, which will take you to the FCA website. Another safety measure you can take when looking to borrow money safely online is to look if the website has HTTPS (the secure connection). If you can not see the padlock sign next to the url, then keep out the website. For more information on borrowing money safely, click here.
Why Choose Cashfloat?
Cashfloat offers a streamlined process for borrowing money with loans ranging from £500 to £1000. Once you have completed the payday loan application form, you will receive an instant lending decision. If approved, money can be in your account within an hour. We also specialise in bad credit loans, so having a bad credit rating should not hold you back from being approved for a loan today.
What is the cheapest way to borrow money?
The cheapest way to borrow money would be to get an interest free loan. As great as these sound, they do not really exist. However, you may have family and friends that you can ask for an interest-free loan. Remember, when you are borrowing money from family, they trust you. Be careful not to abuse that trust – make sure to pay back the money when they are expecting it back. It’s not worth scaring relationships because of money.
How does Cashfloat lend money online?
Cashfloat have a smooth and straightforward loan process. The application is totally online with an instant decision. Money should be in your bank account within 1 hour of being approved. Repayments are made monthly. If you are encountering any problems paying back your loan, please contact us straight away so we can help you.
Can I borrow money for rent?
Our online loans are designed to help you in an emergency, for example, if you need financial help with car repairs, have a medical emergency or a home appliance needs replacing. If you are looking to borrow money for rent, you may be in financial difficulty, and we do not recommend using out short term loans if you are in a long term financial problem. If you can not pay your rent or other bills because of coronavirus, then go over to citizensadvice.org for some advice on what to do.
Cashfloat is a trusted FCA authorised lender in the UK offering fast and affordable payday loans between £500 and £1000 over 3-6 months (7 with Easy-Start). As a supreme leading direct lender, all our loans are processed, approved and funded by our expert team. They are available to assist you with any questions or difficulties you may encounter at any point in the loan process. We are here to help you even if you have bad credit. If we aren’t able to fund you a loan ourselves, we are also a credit broker, and we will help you find another lender who can better meet your needs. Apply now to experience the Cashfloat difference.