What Is A Quick Cash Advance Loan?
Quick cash advance loans are designed to provide you financial support for sudden expenses, such as an unexpected bill or repairing a broken down vehicle. A cash advance is also known as a payday loan: a way of borrowing money that is repaid once you’ve been paid by your employer. At PiggyBank, you can borrow between £100 to £1000 and choose to repay between 7 days to 5 months.
If you’re paid weekly, fortnightly or monthly, it can be extremely difficult to see a way out of emergency situations. A cash advance loan from a responsible lender such as PiggyBank can help you to resolve such problems. The cash advance loan can also give you peace of mind, knowing that you’ll be able to pay back the short term loan the next time you’re paid by your employer.
Why Might You Need A Quick Cash Advance Loan?
There are numerous reasons why you may require a cash loan. A loan can be helpful for situations like your car breaking down, and you need speedy cash to get it fixed as soon as possible, but you don’t get paid for another few weeks. Taking out a quick cash loan ensures you can get your car back on the road and you can get to work. You can then pay off your loan on your next payday.
Perhaps an unexpected bill popped up, and you were £100 short to cover the bills before your next payday. As long as you know that you’ll be able to pay the money back, a cash advance loan allows you to cover the unforeseen expense and repay the loan when you get paid. You can read more information about the process on our how it works page.
Benefits Of A Cash Advance Loan
Helps you out of a financial spot
Cash advances are a quick source of money when you're in a tight spot and still have to wait a while for payday.
It can help increase your credit score
A great way to boost your credit score is having a history of on-time payments. By keeping up with the loan repayment, you’ll start to see your credit score improving.
You can use a quick cash advance loan for anything unexpected
Whether you’re looking to make a small home repair, or pay for new car tyres, a cash loan can help. Though, we don’t recommend borrowing money to clear existing debt.
It could save you money
If an unexpected expense could leave you in the red, default charges and overdraft fees can mount up quickly. By taking out a quick cash loan to cover unexpected expenses, you could reduce the amount you pay overall.
Can I Apply For A Cash Loan If I Have Bad Credit?
If you suffer from a poor credit rating but are in need of a loan, PiggyBank may be able to help. Typically, those with a low credit score or no credit history have limited borrowing options and are tempted by ‘no credit check loans’. However, these types of loans will not be offered by trustworthy lenders authorised by the FCA, as all loan providers must credit check loan applications.
A credit check is carried out on all PiggyBank loan applications however we don’t just look at your credit file to make a decision. We understand that poor credit history doesn’t necessarily always mean you’re unable to manage credit.
When applying for a quick cash advance loan, it’s important to consider whether you’re able to afford to repay the loan in full and on time. If not, this can lead to serious money problems or falling into a debt spiral. If you require information on debt management, please contact Step Change for free independent advice.
Where Can I Get A Cash Loan?
When you’re in need of money quickly, we can help! PiggyBank is a direct payday lender and are authorised and regulated by the Financial Conduct Authority. This means we only lend money responsibly. Our applications can be completed in minutes and, if accepted, we’ll transfer the money into your account the same day.
There are never any hidden fees with PiggyBank. You can see exactly what you should expect to pay back in total, and on what dates. All charges are also shown upfront before someone borrows from us, and we don’t charge any fees for paying off your loan early. If for any reason your financial circumstances change during a loan repayment period, we’ll do everything we can to help you out, and not add to the burden of the financial strain you’re currently in. All you need to do is get in touch.
How Can I Apply?
To apply for a loan with PiggyBank, simply use the sliders above to choose the amount you need and how long for. We’ve simplified our loan application process to make it as straightforward as we can for you: all we require is a few personal details, information about your employment and your income and expenditure. Once we run our checks to ensure we are lending responsibly, we aim to get a loan offer decision to you as soon as possible.
To be eligible for a small cash loan, you’ll need to be in full or part-time employment, aged 18 or over and living in the UK. We only offer assistance to those who we feel will be able to afford to repay their loan without putting themselves in financial difficulty.
If you think you might need third party advice about your finances, whether you’ve taken out short term loans in the past or not, you can contact your local Citizens Advice Bureau for free impartial help.Apply Now!