Guaranteed Bad Credit Loans

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Guaranteed Bad Credit Loans
The internet and the introduction of it has revolutionised our industry and the way finance
companies like us operate. It has not only increased the types of loans that are available to
borrowers but it has also made them more readily available than ever before.
One of the sectors of our industry that the internet has had a huge impact on is the
unsecured loan market and providing loans to people who have a poor credit history. Due
to this, some may ask; is there such a thing as a guaranteed bad credit loan?
At this moment in time, these loans are definitely not guaranteed and there is no such
thing, as it would be considered foolish and irresponsible of financial companies to lend
money to every single person that applies. However, there are a vast number of options
available for anyone who is looking for a bad credit loan. A few of the options and an
overview of each are listed below:
Guarantor Loans
These are a special type of bad credit loan where anything ranging from 1000 to 5000
can be borrowed and paid back over a term of 1 to 5 years. These loans however do
require a homeowner guarantor to support the a application process and guarantee a
monthly payment should the borrower fail to. This guarantor must have a regular income
like the borrower and must meet a number of criteria before a loan is accepted and
considered affordable by the lender.
Installment loans
An instal ment loan can provide the borrower with a small amount of cash over a flexible
period of time. Most lenders typical y offer between 100 and 1000 over a term of 1 to 12
months. These loans don't require a guarantor, meaning the rates will be slightly higher
than those that do.
Payday loans
A payday loan is a popular type of loan that is designed to be repaid at the borrowers next
payday. These loans are generally available from anything between 20 and 500. As well
as this, payday loans are processed 100% online, meaning al credit checks etc. are
automated. The money is often transferred into the borrowers bank account within the
hour.
If you would like further details on the types of loans that we offer for people with bad
credit history, cal our specialist team today on 0800 195 6710.
http://www.beechfinance.co.uk

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