Are you in need of some cash? Whisky Loans is here to offer you a lending hand. We have specialized in handling short term loans for our customers thus enabling them enjoy the good financing alternatives that we have to offer. Having special offers for those interested in short term lending, we have been able to help thousands access money in times of financial emergencies.
What are short term loans?
Short term loans are amounts offered to individuals seeking to be lent money and later pay back within a short time. There are numerous short term lenders in the UK region, which offer varying alternatives to interested parties. But what makes Whisky Loans different is the fact that we are one of the most reputable companies lending to a wide range of individuals with differing circumstances or need for funds.
Short term loans usually vary in the amount but a common feature is that they have a short repayment period. Some of the examples of short term loans available include payday loans and logbook loans. Our short term loans are similar to those offered by other loan providers and can be repaid weekly or in a single installment on the borrower’s payday. Short term loans differ greatly from long term loans since these are usually of large amounts and are payable over a period ranging from between 5 to 10 or even more years. They are also paid on a monthly basis and often include the use of securities/guarantors to acquire the loan.
Is there a relationship between short term loans and emergencies?
Short term loans are usually taken by borrowers for emergencies. They are also on fewer cases taken for leisure use but the loans are highly recognized as emergency situation funds. This is why the application and the processing usually take a short time. In many cases, it only takes a day to apply for the loan and have it in the applicants account. We understand that emergency need funds are needed as soon as possible and thus a quick disbursement helps the applicant put the money to use at the right time.
Short term loans are used in emergency cases like settling unplanned hospital bills, repairing damaged car parts, repairing broken house plumbing, and mend damaged drainage systems among others. Emergencies are never planned for since no one has an idea of the time they may occur. This is why many are often caught off guard and without any finances that are sufficient to take care of the emergency.
Short term loans by Whisky Loans prove to be the best option when you are having an emergency. Unlike in the case of running to friends or family when emergencies strike whom on occasions may have no money to offer, Whisky Loans has the funds available to clients whenever they are in need. All that is needed is for you to make an application for the money that you need. Banks in such cases have not proved to be useful since their application requires filling lengthy documents and the approval process takes quite a longer time. This does not work well for loans that are needed at that particular time for an emergency situation.
Would saving work better than short term loans?
Saving would be a good alternative. However, it has never proved to be a viable alternative. Here is why:
Saving is not easy
Saving is not simple because many often find themselves with several needs. Not everyone finds themselves in the position to save money as many find themselves using up all their earnings even before the next income is received. The salary for quite a number is insufficient to last them that month. Very little extras may be available but this also may easily find its use during the month.
Savings may be insufficient
It may be possible to save money, but it is not easy to have a sufficient amount when one needs to repair a large portion of the house roof when it suddenly shows signs of falling off. The repairs may cost more than what one has for savings thus the need to take a short term loan from lenders.
Savings accounts may not be able to dispense the funds
Many banks offer savings accounts that restrict withdrawals. An emergency situation may crop up just when you are not able to withdraw any money from the savings account. In such a case, you will still be forced to borrow money from any available lender even when you had enough funds in the account to cover the cost of the emergency situation.