What Are Text Loans?

Like the name suggests, a text loan is a loan that you procure through sending a simple text, but there is a little more depth to it than just one single text. Text Loans through direct lenders do work on the principle of texting. The borrower that is you will send an inquiry for loan procurement through a text to the lender, which is us. This inquiry would mark the beginning of two-way communication and would end with the loan amount being wired into your account. It is as easy as ABC and you get yourself out of a short-term financial conundrum.

How to Get Text Loans from Direct Lenders?

We have, so far, established the underlying meaning of Text Loans. Now let us delve into the actual procedure of the acquisition of the same. The process is not at all troublesome, find out for yourself.
  • The Online Application
Once you have sent the inquiry and the communication begins. The lender will invite you to fill an online form that would require you to fill in all your details, from name and address to income source. It is vital from the lender’s perspective to get a better understanding of his client.
  • The Agreement
After the form submission, if you meet all the criteria, the lender will then send you the loan agreement. This would include the terms of the loan, primarily, the loan amount, the interest or APR and the duration of instalments. It is up to you to agree to these.
  • The Nod of Both Parties
If you find everything in the e-agreement comfortable to adhere to, then all that is left is to sign the copy and text it back. Moreover, you will have your money in the next few minutes!

What are the Advantages of Instant Text Loans?

Anyone who has procured a Mobile Phone Loan from 24CashLender has only ever raved about them. It won’t be unfair to say that these loans are indeed a blessing for the borrower living in the UK. Since our sole purpose is to cater to the needs of our borrowers, we could not be happier. These loans are supremely advantageous because of several reasons;
  • Anytime and Anywhere
The primary benefit of a loan like this is that it does not mandate you to go to the lender and physically meet him. All you need is a Smartphone that can send a text and then allow you to go for online application. Since you must have your phone on you at all times, Text Loans become a 24X7 service, which you can avail even when you are in another country.
  • Non-existent Obligations
Do you need a broker? No. Do you need an impeccable credit score? No Do you even need to go through a credit check? No Do you need to present a guarantor? No What does the answer to all these questions tell us? It lets us know that Text Loans are as hassle-free as a loan can become. You only need to meet a few standard requirements, and you are good to go. That is why; text loans for bad credit people suited to their circumstances more. It becomes more manageable with further exemptions like no credit check and no guarantor.
  • Faster than Ever
With text loans, the word ‘instant’ can be considered as their middle name. Once you send your inquiry to the lender, and it gets approved, you can get your loan transferred into your account in a matter of minutes. The most delayed loan so far in the history of text loans was done overnight. Waiting weeks for your money is not going to happen with instant text loans that can be applied with no brokers’ involvement.

Why and When You Should Apply for Mini Text Loans?

Text Loans aka mobile phone loans are applied in situations that are
  • Urgent
  • And somewhat out of your budget.
For instance, One of our borrowers had taken up a Mini Text Loan to get his car repaired when its battery was all but dead. You might know that car repairs can become expensive without insurance, so the loan helped him get his car back to its old working self. And the borrower repaid the amount in six months, as he found that duration more comfortable. Another one of our borrowers took a £3000 Text Loan to buy his girlfriend the engagement ring she deserved. There was also a borrower, who took out a loan to pay for his ER bill when he broke his arm by falling from his backyard tree. 24CashLender understands the everyday financial problem that you can face, and that is why we have the highest approval rates to ensure your issues are sorted through our loans.

How Much Money Can I Have a Text Loan Of and for How Long?

These loans by phone provide a means to fulfil only the short term needs of the borrowers that are not too expensive. Consequently,
LOAN AMOUNT LIMIT LOAN DURATION
You can borrow anywhere between £1,000 and £3,000 through these loans. The time frame would coincide with the terms of short term loans, starting from a month up to a year.

The Bottom Line

Text Loans from direct lenders in the UK are the perfect solution for the everyday financial woes that are often unexpected and unwelcome by the borrowers. These loans not only make the borrower competent enough to pay for these unexpected expenses but also make them seem less daunting and almost bearable. Do not be afraid when you find yourself in imminent need of money. Drop a text to 24CashLender, and you will be all sorted.

Text loans FAQs

Can I apply for text loans anytime?

YES, you can easily apply for text loans, as the service is open for 24 hours at a direct lender. You can send a simple text and registered with the lender. It hardly takes a minute to have the facility of a loan. When the time you drop a text to the lender, they will drop a confirmation OTP. You can get the funds in your account within an hour or maximum within a day. However, if you are already registered with the lender, then you can have funds in a few seconds.

What are the Situations where I can apply for text loans?

There can be any situation to get the text loans from direct lender if you want to pay:
  • Mobile bill
  • Electricity bill
  • Netflix subscription
  • Vehicle repair
  • Boiler broker
Make sure to apply the deal from the reliable lender in the UK, before applying for the loans.

What is the purpose of text loans?

You can get funds by sending just a text and then covering up the urgent financial situations. The primary purpose of applying for these loans is to avoid cumbersome application procedure that often delays the loan disbursal and you can instantly fill the prevailing financial gap.

I have no credit history, can I get text loans?

Of course, you can borrow despite no credit history. The text loans are friendly to every type of credit score status. In case you do not want any credit score perusal, you can get text loans with no credit score check from the direct lender like 24cashlender. It provides such choices on lower rates.

Is it possible to pay off the text loan without any charges?

Yes, certainly. There is no prepayment fee if you want to pay off the loan amount before the completion of the short tenure. The lending companies like 24cashlender provide mini text loans without any such fee or penalty. This facility is equally applicable for every applicant irrespective of credit score status and employment status. The only condition is to prove REPAYMENT CAPACITY.