The Quick Loan Shop is an online short-term lender offering borrowers loans ranging from £100 to £2,000, together with quick service payday loans provided up to £500. The target is to aid borrowers handle emergencies and other unanticipated events by offering immediate access to money, in an instalment loan format, to help handle financial shortfalls.
Repayment provisions are set from the beginning, with all repayment demands and applicable fees disclosed before the loan being funded. This ensures that all borrowers are conscious of the total costs associated with the loan before officially entering into the arrangement. This allows The Quick Loan Shop to become completely transparent in their lending activities.
Qualified borrowers are able to receive funds into a designated bank account between 1 and 24 hours from their loan application being approved. Some funds transfers into a customers bank account is complete in as little as 15 minutes, letting you get the money the same day in which you applied.
The criteria for applying is straightforward. As long as you’re at least 18 years old, currently live and work in the United Kingdom and have a local bank account, you are eligible to apply. While being a homeowner isn’t required, it may help in gaining approval for your loan.
The Quick Loan Shop Criteria
- Age Requirement
- Debit Card
- Credit Checks
- Other Requirements
- See Website
- Same Day Transfer Available
- Loan Value Available
- £100 - £2000
- Representative APR
- Loan Length
- 7 Days to 12 Months
- FCA Registration Number
- Loan Example
- Borrow £100 repayable over 1 months. Total amount repayable £124.00 in 1 payment of £124.00. Interest 292% p.a. fixed
The Quick Loan Shop Review
The Quick Loan Shops provides short-term payday loans in addition to instalment loans with repayment periods of up to 12 months. All interest rates are fixed, with no prepayment penalties, permitting borrowers to see each the terms connected with their loan for the whole repayment period period and get benefits for paying back the borrowed capital premature.
This makes them perfect for emergency situations that result in a temporary funding shortfall which may be retrieved when the borrower’s next salary payment was received, or within the span of a number of monthly instalments.
Though a revolving credit option isn’t available, a borrower can reapply for capital once particular repayment criteria are fulfilled on any formerly funded loans.
Considering that The Quick Loan Shop is an online-oriented lender, service is most frequently provided by email. Borrowers are supplied with internet access to their account, and repayment could be made directly from the borrower’s bank account through the internet portal. All repayment action is reported on the applicable credit reporting agencies.