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How to obtain quick loans online

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If you are in need of some extra money and quickly, there are now a wealth of lenders available online who are offering a range of different products. – PowerPoint PPT presentation

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Title: How to obtain quick loans online


1
How to obtain quick loans online
2
If you are in need of some extra money and
quickly, there are now a wealth of lenders
available online who are offering a range of
different products. In order to ensure the
correct one is selected it is important you
consider all the options, what their benefits are
and where applicable what the drawbacks are too.
3
Many consumers looking for quick loans online
tend to need to obtain funds as a result of an
unexpected expense or cost. This could be
anything from a broken down car to an unexpected
vet bill. In any case the basic requirement for a
loan of this nature comes from the fact the
applicant does not have the disposable income
required to cover the cost themselves.
4
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5
For many the market for such loans has been a
useful resource for some time now. Online loans
were first introduced many years ago with the
popularity becoming almost instant. Unlike ever
before consumers use the internet to perform a
variety of everyday tasks and it is therefore
little wonder that the world of lending has
followed in these footsteps. 
6
Given that a large number of consumers use the
internet to shop, socialise and conduct banking
it makes sense that they would like the
opportunity to meet their short term lending
requirements in the same way. In line with this
it is not surprising that consumers using this
service expect it to be hassle free and straight
forward also. Quick loans are available online
and thats for the most part, exactly where the
customers want them to be. Today lets look at
the options that are available to a current day
applicant.
7
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8
The first type of quick loan that the market
offers is a loan which is based on the principle
of a single repayment. These type of loans have
been available for many years now and are very
straight forward in their offering to applicants.
The lender will consider the application and
information provided and if approved the customer
will be set to repay the total balance on their
next employment pay date.
9
These loans have a simple application form which
can usually be completed within no more than 10
minutes. In most cases applicants will receive a
lending decision almost immediately but if this
is not the case, the applicant can accept a
decision within a few hours. 
10
Often the completion of the application process
does not require any verbal communication and
lends will keep applicants up to date on the
progress of their application via email
typically. This is not to say there will not be
instances where a lender needs to communicate
over the phone and any applicant who is serious
about such loans should be prepared to take a
call should this be the case. 
11
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12
These type of quick lenders offer loan amounts of
100.00 up to 1000.00 in the case of select
lenders and will usually charge the customer
about 30.00 interest for each 100.00 that is
borrowed. This means for example a customer
borrowing 200.00 on this style of lump sum
repayment will be due to repay 260.00 on their
next employment pay date. With this type of
funding it is important to consider whether a
lump sum repayment is affordable to their budget.
If this is not the case this type of loan simply
will not be affordable.
13
 The other type of loan now being offered by
online lenders is an instalment based loan. Like
the lump sum terms applicants simply need to
complete an online application form which again,
will take very little time to complete. It is
more likely with these lenders that the applicant
will be asked to complete a budget detailing
section as part of applying.
14
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15
The lender will need review the information and
provide a decision within a very short time
frame depending on what validations are
required. If approved the customer can typically
choose a repayment term that suits them. Lender
are currently offering loans for repayment in
instalment over 3 months, 6 months or even 9
months. 
16
This means the applicant can make a selection
based on what is affordable to their budget, if
they would prefer to reduce the monthly amount
due they can select a longer repayment term. It
is important to remember here that interest is
usually applied on a daily basis meaning the
total amount repayment is more specific to the
loan and the term the customer is making payments
for. 
17
For more information check this out
www.trueblueloans.co.uk
18
Thank You
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