Payday loans can easily avail for the person who is in a tough situation in need of money. Usually, payday loans need to be repaid in a short time. This would be sometimes difficult for all to payback in less time. In such cases lending stream loans are the best option available which offers a payback period of 6 months. This will be very easier than payday loans in terms of financial purposes and budgets. One can also get the money as fast as getting from the payday lenders. You can find many such stream loan lending companies in the UK and one among them is the 1st Class loans and it offers the best loans to everyone.
All about Lending stream loans
Lending stream loans are one of the best loans that are much beneficial for the people in financial crisis. You will be able to get the money in a very short time as like in payday loans. If anyone is applying for a short term loan then it means that fast cash is required. Lending stream loans would be issued within a few seconds from the loan approval time. These loans will be approved for anyone who has even a bad credit score. The lenders would consider only the ability to repay and not the credit score.
Benefits of lending stream loans
- Repay period is more
Lending stream loans have a repayment period of six months when compared with the payday loans. The amount would be transferred to the account in a very short time in a few seconds. The repay time is spread out to months and it also offers an option to repay even before it.
- Loans are given even for bad credit
These types of loans are given even when one has a bad credit score. The lenders look only for the information regarding the capacity to pay back the amount and not the past credit scores.
Get to know about 1st class loans
1st class loans provide the best alternative for lending stream loans as they are like a broker and lenders. They are credit brokers and very much helpful for the persons who are looking for a short term loan in the UK. The loan amount can be 100 to 5000 and the loan period would be 3-24 months. They have many lenders who do not charge for the services. The loan application is a simple process that involves just filling of the application form. The filled form is sent to the software for processing and when the lender matches for your requirement the amount would be transferred to the account.
A direct lender would lend the money to the customer and the credit broker matches the customer to the respective lender. This would be helpful in matching the lowest rates with the customers and lenders. The brokers are paid for this service respective to the loan amount. The lending stream is the best lenders in the UK for payday loans. The criteria required to apply for a payday loan is as below.
- Must be a UK resident.
- Must have regular employment with salary.
- Age limit must be more than 18 and should have a bank account.
When these conditions are satisfied then you would be eligible for getting payday loan through the lending stream and you can be benefitted from it.