How To Get a Loan Fast

For any pressing expenses or emergencies, you may be looking for a quick loan to tidy you over. This involves getting access to money into your bank account as quickly as possible so you can pay for your bill and you can restore some order.

In this scenario, many people decide to look at getting a loan. But how can you ensure that the process is carried out speedily, so you can receive the money and get approved for a loan as quickly as possible? It is definitely possible to achieve this, but it does require some careful planning. Wondering what you need to do to get a loan quickly? Here are some of our top tips from The One Stop Money Shop to help you access quick funds.

Have all of your details ready

With most loan applications these days, you can do all of the application online. This is an advantage for you, as it means you have the ability to complete the form anywhere you wish – not just in a local branch of the lender in question. However, if you want to get a loan quickly, you should make sure that you have all the possible details you will need for your loan application when you sit down to do it. Otherwise, you may end up wasting valuable time. 

Make sure you meet the eligibility criteria

Whilst it is understandable that you want to make the process as fast as possible in order to obtain finance: don’t miss vital steps. This includes not forgetting to make sure that you meet the eligibility criteria of the particular loan you are applying for as not every lender will have the exact same criteria. For example, some may require you to be over a certain age, or have a certain amount of income before they will consider you for a loan.

Be available by phone for questions

If you pass the initial application stage, many short term and payday lenders will get in touch with you on the phone to verify your details. This is why you should make sure that you are ready to answer your phone and provide answers to questions regarding your application if you want to gain access to funding fast.

Apply during office hours

Another way to maximise your chances of getting your loan approved and quickly authorised into the funding stage is to make sure you are applying during the office hours of the lender. This makes a lot of sense when you think about it: after all, if you decide to apply on a bank holiday weekend, this means that it will take more time for your application to be processed if there is no one available in the office to look at your application.

Make sure your details are correct

One of the most commonly cited reasons as to why lenders slow down the funding stage of an application is due to the applicant having made errors in their application to them. This is why it is important to make sure that before you have sent off the application, you have double-checked that all the details that have given are in fact correct if you want to make sure you receive the loan as fast as possible.

See also, how to improve your chances of getting a loan.