Short Term Finance: Assistance For Fiscal Emergencies
Short term finance is for the people who need small amount of loan for emergencies purposes
. Short term finance offers instant cash during financial crisis. It is clear from the name that the loan amount can be secured for a short tenure of time.
A person finds himself unprepared when he faces emergency demands for finance which surface all on a sudden. He may require clearing a medical bill immediately as one member of his family has been hospitalized. He must clear the school fees unless which his kids can no more go to school. It becomes urgent to pay off dues of the last loan. He may require paying off telephone bill or electricity bills. This is a very long list.
Short term finance is available to any prospective borrower if he earns at least 1000 as monthly income. He must be working in an officially approved establishment for the last six months. The applicant must be a citizen of Great Britain. It is important to note that he should be at least 18 years of age. He should submit documents in support of his residential address. He can submit his telephone bill or electricity bill of the recent months for this purpose. He must have an active bank account in England.
The borrower can secure fiscal assistance ranging from 100-1500. He must pay back the loan amount within 14 to 30 days. The borrowers can request the respective lenders for extension of the repayment tenure. They are asked to pay some extra fees for such extension. It is, however, not good to apply for an extension. The interest rates for short term finance are generally high. One more thing is important to note that the borrowers must not default. This will raise his financial burden.
People with record of bad credit can also apply for short term finance. The lenders do not check credit history of the borrowers while approving their applications. The lenders do not even ask for any valuable possessions of the borrowers to use as security.
The borrowers may choose the online mode of application. They are to submit personal details correctly. The process is time-saving and comfortable. Privacy as well as security of the borrowers is also maintained. The loan amount is sent to the bank account of the loan-seeker once the lender approves the application for short term finance.