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How To Get a Short Term Loan Fast


You may be looking for a quick short term loan if you run into a financial emergency such as a broken down car, household repair or large bill to pay.

A quick loan involves getting the cash into your bank account as speedily as possible so that you can pay for your emergency and get your finances back on track as soon as possible.

Sometimes your next pay date is just a little too far away, or you simply have no other access to money whether it is from family or friends. However, there are some ways to get quick loans from online lenders and My Financial Broker has some tips to help you get funds as soon as possible.

Verify you meet the eligibility criteria

Making sure that you meet the lender’s eligibility can ensure that your loan application is processed as quickly as possible.

Therefore, it is important not to rush the process, and before you jump in and start applying for loans, take another minute or two to make sure you meet the criteria.

For instance, some types of loans as classified as good credit loans and some may require collateral or security e.g secured loans

Not all lenders share the exact same criteria and some may have different age or income requirements in order to be eligible.

Have your details ready at hand

These days, it is usually possible with most lenders to do the entire application process online, which is highly convenient and makes applying faster. However, it still requires organisation: you will need to make sure you have relevant documents ready so you can fill out the application online promptly.

Applying during office hours can help

To help speed up the loan application process and get it moving into the funding stage, you should aim to fill out your application during office hours or a weekday.

Whilst most UK lenders will accept applications on the weekend, they may only wait until Monday to process funds.

This also includes applying during evenings, bank holidays or during the Christmas and New Year’s period. So if you are applying for a fast short term loan between 9am and 5pm on a weekday, this should maximise your chances of being approved and funded quickly.

Be ready for a phone call and with documentation

When filling out a loan application online, most lenders will ask you to fill in an initial set of questions online and if provisionally approved, you will be passed onto the next stage of the loan process.

Before funding the loan, most lenders will typically call you to confirm any details or get further documentation from you. So having your mobile phone on hand and be available can only help if you are looking for fast funds.

Therefore, you should avoid making an application and then going on the train, or going to the gym – but instead be sitting next to the phone for at least the next hour (although most lenders will call you in minutes).

You can be extra ready by having a copy of your most recent pay slip and bank statement on your phone or desktop. So if the lender requires this, you can quickly send it over. No need to wait until you go back to work or waste time scanning a piece of paper. If you have this prepared, you can progress much faster.

Check for inaccuracies in your application

If there are inaccuracies in your application for a short-term loan, this will slow down its progress. This is why it is vitally important that you have double checked your application before sending it to see if there are any errors that need to be changed.

This can make a huge difference to how quickly your loan application is processed, and the last thing you want to do is make the process longer simply because of a small mistake made whilst applying. Common things that are not always put down accurately include addresses, monthly income and expenditure.

It is natural for applications to slightly inflate their incomes to borrow more money or as a sense of pride. But if the lender needs to cross reference this with a pay-slip, it is just an extra process that will slow you down.

Use My Financial Broker

My Financial Broker works with a panel of over 50 lenders who can help you borrow up to £5,000 on the same day of applying. We successfully match our customers with the lenders most likely to approve them and meet their loan requirements. Our application takes less than 5 minutes to be completed and you will receive an instant decision on the screen. To get a free quote and access funds quickly, simply click on the apply now button below:

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My Financial Broker logo
My Financial Broker
My Financial Broker does not lend money and is not a lender. The service we provide to our customers involves passing their applications for payday and short-term loans on to appropriate lenders or other brokers in our affiliate lending network, who then make approval decisions and offer loans to those customers.

Customers of My Financial Broker are charged nothing for our services. Please note that although most people receive their loan funds within 1 hour, individual banks may require funds to be held for up to 3 days while the funds clear. For questions about this clearing hold, contact your bank. *UKCreditRatings offer a 14 day free trial to their credit report service. If you choose not to cancel within the trial period you will incur the monthly subscription fee of £19.95 until you cancel the account.

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Tel: 01202 472981
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My Financial Broker is a trading name of Leadtree Global Limited which is Authorised and regulated by the Financial Conduct Authority reference number 728649. Registered in England No. 08526321. Leadtree Global Limited, 28 Avenue Road, Bournemouth, Dorset, BH2 5SL. Registered with the Information Commissioner's Office No. ZA029756.
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