Small cash loans

If you need to borrow a small amount of money and banks are not an option, there are several alternatives you can turn to, one of which is a small cash loan:

Small cash loans are the type of loan where the money is delivered to your door rather than through a bank account, the repayments are also collected in person.
The amount you can borrow typically ranges from £50 to £500 and lenders welcome most people even if you have bad credit or are unemployed.

How they work
You fill in a form online, a loan agent will come and meet with you to discuss the loan, once everything is sorted out they will deliver the money.
Repayments are somewhat flexible; you can pay off the loan within a few weeks or take as long as 52 weeks.

Requirements
Although each application is reviewed individually, the basic requirements are that you are a UK resident and are aged 18 or over.

Advantages

• Convenience; small cash lenders will often lend to people that no one else is willing to lend to. You can get a small cash loan even if you're unemployed.
• Bad credit history is not an issue; lenders mainly focus on your current circumstances.
• Quick approval; you can get the money within days of applying.
• The loan is unsecured; therefore it poses no immediate risk to your property.

Disadvantages

• High interest; overall the interest rate is higher than on most other types of loans; this is mainly due to the fact that the amount of money borrowed is small but its paid back over a long period of time.

Alternatives

1. Payday loans:
These are similar to small cash loans as they're also unsecured. The main differences are that they're short-term; usually they have to be repaid within 31 days, and they require you to have a job. For more details see: payday cash loans

2. Pawnbroker loans:
These are loans that are offered by high street pawn shops; you deposit an item you own e.g. jewellery, watch or mp3 player and you're loaned an amount lower than the value of your item. Once you repay the money, your item is returned.

A Pawnbroker loan may incur a lower interest rate since it is secured against your item. Also for the same reason a bad credit rating is not an issue, in fact no credit check is necessary.