Emergency loans, also known as ‘crisis loans,’ are designed to provide quick emergency money for when unexpected and immediate expenses arise. Most people will find themselves at some point with increased expenses, where their regular household income just will not cover what is needed and the additional outgoings. In these circumstances, an online emergency loan may be just what you need.
An emergency loan is not specifically designed for any individual purpose, but is designed to help tide you over when times are tough and money is needed to cover an immediate emergency in your daily life, which may include:
Apply with us today for emergency loans from £1,000. No matter your credit rating and history, we consider all applications and if accepted, we could fund your loan the very same day.
Specifically designed for emergencies and those unforeseen emergencies in life that most people will experience at one time or another, emergency loans online are typically provided by lenders that understand the needs of customers in financial crisis.
Unlike other short term loans available, such as payday loans for bad credit and instalment loans, emergency loans are designed for the short and immediate term, whereas other loans are designed to be spread over longer periods of time.
Whereas in the past, borrowers may have had to shop on the high street and with mainstream lenders for emergency loans, or fully explain their circumstance to a typical short term lender, taking up valuable time, online loans for emergencies can be provided very quickly upon acceptance. This can help you achieve the peace of mind you require to get back on your feet.
Although there is no single, specific purpose for emergency loans, there are a number of widely utilised uses for these loans. Generally, borrowers will be in immediate need of quick funding for a loan once accepted, often needing the money for the following reasons:
Car Repair Loans – For many people, their vehicle; be it a car, van or otherwise is their primary mode of transport to get to work, take children to school and run day to day errands such as shopping and visiting relatives. Should your car break down unexpectedly and your regular income not quite cover the costs, a car repair loan may be required to pay for the repairs. once repaired, you then repay the loan.
Emergency Business Loans – For small businesses in particular, the margins are very small. This means that should something unexpected occur, say a computer breaks or a crucial piece of equipment breaks, there can be ominous consequences if left unchecked. An emergency business loan can provide up to £10,000 to fix the immediate problem, to help get you and your business up and running and functioning properly again.
Loans for Emergency Home Repairs – Particularly in the winter and colder months, should something need repairing in your home such as the boiler, a leaky roof or broken window, it is important to get the problem rectified as soon as possible. Leaving a boiler or roof unfixed for longer than absolutely necessary could cause further damage to the property and could also leave you and your family particularly vulnerable to the elements and cold weather.
Emergency Travels and Journeys – Often for family emergencies and unexpected events in other areas of the country or the world, emergency journeys can rarely be predicted. It may be the case that you need to travel in order to get to a family emergency or something similar. An emergency loan can, if funded, provide you with the money you need to pay for the travel to get to another region or country.
Emergency Debt Loans – Using an emergency loan for debt consolidation may be necessary for example, if you have numerous debts outstanding, with a particularly pressing debt such as a mortgage payment also hanging over you. You may be able to use emergency loans to pay off a mortgage or other particularly pressing payment, allowing you to focus on clearing your overall debts thereafter.
If you find yourself needing an emergency loan, firstly, do not panic and try to stay calm. Sometimes, in times of immediate financial difficulty, it is best to consider your options before deciding precisely what to do. What you are having financial troubles with; what the loan will pay for and over how long you will require it, will often dictate the precise emergency loan you apply for.
Having considered the options, if you have a little bit more time than you initially thought, you may be able to take out another type of short term loan online such as a payday or instalment loan. If however, the need is immediate, for example, to fix a broken down car or very leaky roof, same day loans could prove very important and so an emergency loan online may be reasonably considered.
At Payday Bad Credit, our entire application for emergency loans are online. Our form simply requires some information about you, your circumstances and eligibility. Then, subject to our checks as a responsible, FCA Authorised direct lender and if you meet the eligibility requirements for an emergency loan, we can tell you if you are eligible for the loan you apply for and your loan could be funded on the same day as acceptance.
We are an FCA Authorised direct lender of emergency loans online and as such, we operate a strict responsible lending policy. This means that we require some information about you and your circumstances in order to make our lending decision; whether we provide you with the loan you apply for or not. This is in order to help us ensure that you can afford repayments on the loan if funded.
We consider all applications on their individual merit, but do have lending criteria that helps us make our decision. This means that borrowers should ideally:
Apply for an emergency loan online today with us from £1,000. Our application process is straightforward and can take less than 5 minutes, filled out online. All applications are 100% free of charge whether you are accepted or not, and subject to approval, funds can be transferred via BACS transfer to your nominated account, with loan repayable over 6 – 24 months.