Short term loans can provide a little extra financial support when your funds are running a low. Wizzcash could be your route to quick and helpful alternative funding; you can apply for our short term loans online, even if your credit score isn’t completely perfect.

What Is A Short Term Loan?

Short term loans could provide financial relief for those who are in urgent need of fast cash, on a short term basis. These loans are typically paid back over a set period of time, which has to be less than a year to be classed as a ‘short term’ loan. Short term loans can be repaid in instalments and are designed to be manageable and helpful in an emergency.

A short term loan is typically low-value, which means you can borrow anywhere between £50 and £1,000, as standard. It is possible to borrow larger amounts on a short term basis. Wizzcash are short term loans direct lenders, but we can also act as a broker and connect you with other lenders if we are unable to fulfil your loan request. We will only direct you towards one of our trusted partners and they may accept your application. It is important to note that short term loans tend to attract a higher APR than other loans. This means the repayments could be higher and should be redressed per the term of your agreement!

How Can You Use A Short Term Loan?

Here at Wizzcash, we offer our short term loans to individuals who are experiencing financial difficulties. They should not be considered a reliable means of financing, but rather a one-off source of funds for bridging your financial gap in urgent situations.

These situations include:

  • If you are overdrawn due to adversity
  • For an unexpected medical or dental bill
  • A car repair bill
  • To tide you over until payday

Wizzcash.com is a payday loan direct lender. This means if you have a successful loan application with us we will communicate and lend directly to you. In the event that we are not able to help you, we are also a broker and we will link you to panel of consumer credit companies who might be able to offer you: loan products, with loan terms from 1 to 36 months, loan comparison websites to give you access to the comparison of loan products or credit reports companies to help you understand credit ratings and make informed credit decisions. We will never pass on your card details to any other organisation.

How Long Are Short Term Loans?

Once you have been approved for short term loans online, you will be required to pay it back in instalments which will span anywhere between three months and a year. Of course, on a long term basis short term loans are likely to accumulate a higher overall cost. The repayment terms will be outlined in the agreement and can usually be adjusted to suit a realistic repayment scheduled and your individual financial situation (as long as they are within a year).

The total amount repayable will be explained to you when you take out short term loans. The interest rate will also be explained to you. These loans are typically paid out quickly, and could be in your account the same day, which is why they could be an ideal means of unexpected and emergency cash flow issues.

What Is A Short Term Loans Direct Lender?

Wizzcash are a direct lender as well as a broker, able to provide short term loans to our customers without the involvement of a third party. If we are unable to help you, we will try to connect you with someone who can. As a lender, we will be able to communicate and lend directly to you. This is subject to a successful application, but you will not be charged any fee for applying for a loan with us. We also promise that no fees are charged for early repayment of the loan. A benefit of using short term loans direct lenders is that you will not be charged broker fees, and your personal details are only used by the company who is directly dealing with your loan. Many people prefer to use short term loans direct lenders because there is no confusion! Here at Wizzcash, we will never charge you an upfront fee and will make sure we do not work with anyone who would charge you an upfront fee.

At Wizzcash, we will directly lend to all successful applications, but we are also a broker. This means we can connect applicants with alternative short term loans if we are not able to lend to them directly.

Am I Eligible For A Short Term Loan?

Eligibility criteria will be applied to all applicants for short term loans. As we also operate as a broker, we know that the criteria can vary from lender to lender. At Wizzcash, our short term loans criteria for all applicants must be:

  • Over 18
  • A UK resident
  • In current employment
  • Taking home £750 a month (minimum)

As short term loans direct lenders, we strive to ensure all our customers are able to meet their repayments and we are proud to practice ethical lending. As part of an eligibility check, we will also assess you by your credit score.

Can I Get A Short Term Loan With Bad Credit?

Applicants for short term loans will be subject to a credit check, as set out by the FCA (Financial Conduct Authority) who regulate the financial services industry. Short term loan lenders will want to ensure applicants will be able to pay back their loan, and a credit check will convey your risk as a borrower. Having bad credit could restrict the loans and other financial services available, or even feasible, to you. However, there are lots of short term loans online that will be able to cater to applicants, even if they have poor credit.

Do Short Term Loans Improve Credit Score?

Short term loans could affect your credit score, which is why we practice ethical lending and will always ensure that applicants can afford short term loans before we approve an application. Borrowers should only apply for short term loans online if they are prepared for the repayments and are taking out credit for the right reasons, simply taking out a loan to improve your credit score could be irresponsible.  

How To Get A Short Term Loan With Wizzcash

To get short term loans, you will have to complete an easy application process. You will need to know the amount you want to borrow, your personal details and an idea of a realistic repayment schedule. You can go direct to short term lenders online.

We have made our application process as simple and straightforward as possible. You will find ‘apply’ buttons throughout our website. If you are approved for short term loans online, you could have the money in your account on the same day.

The Pros and Cons Of Short Term Loans

There are a number of considerations applicants should be aware of when they are applying for short term loans online. UK residents can get cash quickly when they need it and benefit from being able to pay the loan back within a manageable time frame. Therefore, if you are confident that you will be able to repay the loan, plus APR, on time, then short term loans could help you when you are in need.

However, a short term loan is not a suitable option for everyone; Interest rates for short term loans UK can be higher than other loan types and you should consider all the factors when deciding to apply for a short term loan, including your long-term financial situation.

Wizzcash are a responsible lender and we will always conduct affordability checks before we agree to a short term loan. This means that our customers will never be given a loan that they can’t afford or is likely to worsen their financial situation. We may not be able to help you ourselves, but as a short term loans direct lender and broker, we will connect you with a trusted panel of consumer credit companies who may be able to offer you:

  • Loan products – with terms from 1 – 36 months
  • Loan comparison websites
  • Credit reports companies – who could help you better understand credit ratings which might enable you to make informed decisions about your credit and short term loans.

We will never pass your card details to another organisation.

Short Term Loans vs Payday Loans

The singular difference between short term loans and payday loans is that a short term loan can be repaid over a set period of time, which is usually anywhere between three months and a year. For payday loans, you will be required to provide the full sum in one go, typically on your next payday. Each loan product could be suitable for different situations but a short term loan could be more useful if you know you are unlikely to repay the full amount as quickly.

There are a number of alternatives to short term loans that you may consider prior to applying for a short term loan online. These options include things such as borrowing from friends or family or applying for a bank loan. If you have a poor credit history or need cash quickly, then a bank loan may not be suitable to meet your needs.

Wizzcash’s Short Term Loans Service

Wizzcash are a responsible lender, and as such we always act in the best interests of our customers.  Our short term loans and all loan products adhere to FCA regulations. We aim to ensure customers do not borrow more than they can repay, and our terms and conditions are clear and transparent. Before you accept an online loan with Wizzcash, we will provide you with information on the APR and the total value you will repay.

Wizzcash.com is a payday loan direct lender. This means if you have a successful loan application with us we will communicate and lend directly to you. In the event that we are not able to help you, we are also a broker and we will link you to panel of consumer credit companies who might be able to offer you: loan products, with loan terms from 1 to 36 months, loan comparison websites to give you access to the comparison of loan products or credit reports companies to help you understand credit ratings and make informed credit decisions. We will never pass on your card details to any other organisation.