As a direct lender Cashfacts always gives priority to the concerns of its borrowers. In direct lending, speedy funds are provided by removing unnecessary loan procedures.
We follow the principles of direct lending
Cashfacts is a dependable source of funding for borrowers. Also, if we talk about bad credit situations, at Cashfacts, approval decisions do not depend on the credit rating.
Here, your current repayment capacity is the most important aspect. Apart from this, there are many factors that help us simplify short-term loans for bad credit borrowers.
The current financial situation is more important than credit history
Loan rejection due to credit rating happens only when a lender gives too much importance to your credit history. Being a new-age online lender at CashFacts, we scrutinize your current financial condition and not your financial history.
If you are regularly earning and have improved your financial behaviour, then it is easy to get loan approval. For this, we demand some of your financial details. Example: Regular income proof of the past six months, bank statement of the same duration, and residential address.
On the basis of these basic details, we verify your financial and personal information online. This entire procedure takes a few minutes. After that, if your payment amount is correct, you are given an approval decision accordingly.
In the entire loan procedure, we consider your current financial situation as more important without looking at your financial past.
As long as you can prove the presence of a regular income, the approval decision is in your favour. However, make sure you make timely payments to other debts in recent months. Your bank statement will show that clearly.
Simplified application process
People with bad credit situations face the most difficulty in loan procedures. They apply to traditional lenders for a loan. In that case, a number of documents are necessary, such as proof of income, employment certificate, tax returns, credit reports, etc.
Being a direct lender, Cashfacts only demands basic financial details from you. These are identity proof, stable source of income, bank account details, and address proof. Due to this, it is easy to gather bad credit forward details.
Online sensibility is also a big factor, and we can easily provide loans to you despite a bad credit situation. You can apply for a loan through a digital platform in the comfort of your home. This saves both your time and expenses. Due to the user-friendly interface, you can also follow our online procedure, which is not very tax-intensive right now.
These three factors ensure that our overall loan procedures have been simplified. Availing of short-term loans in bad credit situations has become easier than ever. One of the major reasons is that direct lenders like Cashfacts treat lengthy procedures with a rational and speedy approach.
Quick approval and fast fund disbursal
In any financial emergency, time is more important than money. This is because if you do not get the money at the right time, the situation can get out of your hands. This is why quick approval decisions and timely funding are two important aspects here.
We focus completely on these two aspects in our loan procedures. We provide you with instant approval decisions according to your current repayment capacity. As soon as you submit the loan application form online, you receive the approval decision within a few minutes.
Along with this decision, the loan agreement is sent to you. As soon as you give your consent to the loan agreement, the loan amount is transferred to your bank account. This entire procedure takes a maximum of 24 years.
But, those with a strong payment capacity receive the amount within a few hours. Due to this speedy process, short-term loans are easily available to you despite having a bad credit situation.
However, due to poor credit ratings, you get a slightly higher rate of interest. However, the loan deal is prepared according to the credit purchase power. In simple words, it is only because of the personalized deal that you are able to receive the loan.
Clear terms and transparency
Transparency is of great importance in online direct transactions. Our loan terms and conditions are transparent and clear. This simplifies our decision-making process. Be it the loan interest rate, payment schedule, or fee structure, we clearly define conditions before you sign the agreement.
This also maintains transparency, and a loyal connection takes shape between the lender and the borrower. We clearly outline all the terms and conditions, be it the loan cost, additional fees, upfront fees, or rate of interest. Because of this transparency, our customers are never put off by unexpected terms or hidden charges.
Also, when they ask questions about the features of our loans through loan comparison, we provide them with responsive answers, enabling them to make informed borrowing decisions.
Cashfacts promotes unbiased lending. We believe in borrower-friendly lending policies. What is most important for us is the borrower’s financial well-being and mental peace. You can experience things well only when you apply for a loan with a realistic requirement.
Also, you can use the loan calculator to get an approximate idea of monthly and total loan costs. The more enlightened our borrower is, the better the trust of fund seekers in us.
Conclusion
After revealing some important aspects of our landing policies, the following conclusions are sure to take shape. If you are looking forward to borrowing funds for any purpose, you can understand us well.
- Cashfacts breaks stereotypes by giving importance to the current financial situation instead of credit history. Unlike traditional lending policies, we focus on your current financial stability while making approval decisions. This is the reason why our approval rate is 99%.
- At Cashfacts, speedy loan procedures and lending policy are important aspects of yours. We believe that fund seekers leave traditional lenders and come to direct lenders so that they can get money on time. Money has its value only when you get it on time.
- Transparency and clear conditions are the factors that make Bowers trust Cashback or other direct lenders. Being an alternative loan company, it is important to work on every important aspect so that the lenders develop trust in us.
Jessica Rodz is the Senior Content Writer at Cashfacts. She has a long career in the field of content writing and editing. Jessica has the expertise in the UK lending marketplace where she has worked with 7 different lending organisations and acquired many responsibilities from preparing loan deals and writing blogs for their websites.
At Cashfacts, Jessica is managing a team of experienced loan experts and doing a major contribution in guiding the loan seekers via well-researched blogs. She has done graduation in Business (Finance) and now currently doing research papers on the UK financial sector.
