DO NOT APPLY !!!!!! PAYDAY LOANS ARE CRAP! THEY ARE EXPENSIVE AND WILL COST YOU HUNDEREDS!

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ABOUT SPEED E LOANS-

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Speed- E –Loans, are a new payday loans provider who operate the majority of their services online, they offer ( as the name implies) a very quick service and are able to deal with those that have poor credit histories and find it difficult to obtain a loan from other sources.

One of the main differences between Speed-e-loans and other payday lending companies is that they are a little more concerned about having a responsible lending policy, and as such they will only offer first lime lenders money that they should be able to repay by limiting loans to £250. Repeat customers can increase their lending amounts up to a maximum of £1000 once they have a proven history of repayment

THE APPLICATION PROCESS

Applying for a Speed-E-Loan is easy, they have a clear online application form that asks you “when your nest payday is” and what the following one is. Then you will be taken to a page that shows you how much you are applying for and how much this will cost. In real terms

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MAXIMUM SPEED E LOAN-

As we discussed before you are able to apply for up to £1000, if you are a repeat customer with a track history of repayment, however first time users can apply for a maximum loan of £250

SPEED E LOAN REPAYMENT-

Repayment of your speed e loan is generally arranged to be collected from the bank that your income goes into on your next expected payday, however as you can see above, you are able to extend the loan up to the next payday at a cost lower than the original month

SPEED E LOANS CHARGES AND COSTS-

One of our favorite things about this lending company is the clear charges and repayment structure, they charge £25 for every £100 that you borrow, and an additional £4.95 if you want the money in your account on the same day as your application

EXTEND SPEED – E – LOAN-

Whilst you are able to chose your repayment date when making the application it is possible to extend this using the online service, extended loans are generally cheaper than the original loan in terms of the APR that you will pay.

LENDING CRITERIA

To get a sameday loan from the company you will need to be

• 18 +

• UK Resident

• Expecting a payment within the next 30 days

• Have a bank account

FURTHER REQUIREMENTS-

When applying for this cash we found that there are generally no further requirements to obtaining a payment.

CHANCES OF A LOAN

We applied to the service 10 times using the details of volunteers, all of these applications were for differing amount and the details used covered a wide range of credit and income histories- 9 applications were approved giving the site a rating of 9/10

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