Short Term Lenders

Instacredit @ www.instacredit.co.uk

Instacredit that is part of NKK Finance Ltd is a new short term lender for 2013 that can be reached at www.instacredit.co.uk. This company appears to be newly formed in London and so they do not share any ties with the Instacredit brand that trades in Costa Rica. The Instacredit loans are headed between £50 and £500 on their provided calculator, but they note a restriction of £300 for new customers. These are as noted short term loans with their being a term range set between 1 and 31 days. The interest rate is 1% daily and so over 7 days £100 would cost £7 and there is also a an arrangement fee listed at £5 and so you would be charged £12 on this sample loan.

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MyJar @ www.myjar.com

MyJar is a new brand for 2013 at www.myjar.com, although this is a continuation of the TxtLoan lender that has moved forward with a new identify. TxtLoan was setup back in 2008 and they have over this time grew to become one of the leading names for text loans. This posting has been made to cover this rebranding and any product changes if applicable. The once bright orange theme is no longer in place and all visits to TxtLoan will quickly redirect to MyJar that carries a modern look, this time in mixed light colours. I'm still not sure if I'm overly keen on this revamp. The MyJar loans carry the same initial £100 to new customers, that when repaid will grant new levels that can reach £500.

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Sunny @ www.sunny.co.uk

Sunny is a unique new lender at www.sunny.co.uk that was launched in early 2013. Sunny is a release from Think Finance (UK) Ltd who are known for 1 Month Loan (now replaced by this Sunny brand) and Quid. The Sunny loans range from £100 to £500 and you can choose between 3 and 30 days, or select terms between 1 and 5 months. £100 over 7 days would cost just £6.76. Over 30 days the cost would be £28.99. What is confusing though is that if you select multiple payments and select the single month then the cost would be £30.93. This will likely be due to the Sunny Rates reward that provides a discount on each repayment. Although you may have just selected the single month, it would be easy to simply extend without any fees and earn a discount.

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Community Payday @ www.communitypayday.com

Community Payday is a release of Web Loans Processing Ltd that runs a range of further short term loan brands in the UK today. Web Loans Processing is most commonly associated with the Toothfairy Finance company with a recently featured brand from them being the Easy Finance Club. The Community Payday loan site is headed at www.communitypayday.com that was devised in 2011. There was an update in the summer of 2012 that would likely be the time that they launched (there are no specifics detailed on their about page). The Community Payday loans can range from £100 to £400 with the term range sitting from 7 to 28 days. Over the period of 7 days, a £100 sum would cost £17 based on their loan calculator.

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Tide U Over @ www.tideuover.com

Tide U Over (TideUOver) is a new payday lender based in Cardiff that operates today from www.tideuover.com. This domain was devised back in 2010, although I believe that this lender launched recently in 2012. The Tide U Over loans range from £100 to £500 (£400 for new customers). Their calculator displays a term range between 10 and 30 days. This appears to generally work around when your next pay date is though. To cover the costs involved, £100 over the full month (30 days) would cost £35 that does include a same day transfer. Be aware that payments are only made between their operational hours (Monday to Friday). The Tide U Over payday loans are only introduced on a few payday review sites at this time.

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Cash Cafe @ www.cashcafe.com

Cash Cafe (CashCafe) provides short term loans at www.cashcafe.com that is an aged domain, although the launch looks to have come recently in the summer of 2012. The Cash Cafe brand arises from PPE Capital Ltd that has an additional product devised that caters business loans over at www.cashcafebusiness.com that was again put together in 2012. The Cash Cafe loans service does score well in many areas. To cover the basics, as a new customer you can receive between £100 and £250 with £1000 being possible for trusted customers in due time. Flexible terms between 5 and 45 days are available and there is a competitive fixed interest rate of 1% daily. This 1% daily rate would translate to for example a £7 charge per £100 over 7 days.

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Square Money @ www.squaremoney.com

Square Money (SquareMoney) arises from CashCall Finance Ltd who were previously introduced here for their CashCall brand. Any visits to CashCall will now redirect visitors to www.squaremoney.com that was setup in late 2011, although the launch came in late 2012. At Square Money they did have a 1% daily rate in place, but they have now increased this to 1.3% (this loses them a few ranking places in the comparison). Between £200 and £300 was available to new customers, whilst £750 was possible for existing customers. They have changed this now to start at £80 and end at £1000. A nice touch in place is flexible terms that can be anything between 7 and 31 days. A fast transfer is provided at no additional cost.

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Reddies Direct @ www.reddiesdirect.co.uk

Reddies Direct (ReddiesDirect) is a flexible payday lender that surfaced at www.reddiesdirect.co.uk in the summer of 2011. This brand has been put together by Danesfield Finance and Investments Ltd and is based in Bracknell. The Reddies Direct loans range from £100 to £200 for new customers, with £400 being available for return customers. The available terms are stretched from 1 to 30 days. From checking out their calculator, a £100 loan for 7 days was priced at £6.52 and this same loan over 30 days was priced at £27.95. It was good to see the charge sitting below 1% per day especially when you consider that there is no fast transfer fee in place. The 6.52% rate qualifies Reddies Direct as the cheapest short term loan lender.

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PiggyBank @ www.piggy-bank.co.uk

PiggyBank (Piggy Bank) follows in the footsteps of The Lending Well in providing a peer-to-peer payday loan service. This brand from DJS (UK) Ltd operates from www.piggy-bank.co.uk that is an old domain although the actual launch looks to have come in 2012. This was the same year as The Lending Well although PiggyBank is even to this day still in development stages. They offer the same 12% return to those looking to lend. As I am aware, they have been lending their own cash in BETA stage until enough lenders have signed up with them. The PiggyBank loans range from £50 to £500 that move up in increments of just £1 with £1000 being possible in time. The term range can be anything from 7 days to 42 days.

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Easy Finance Club @ www.easyfinanceclub.com

Easy Finance Club (EasyFinanceClub) is a short term loan brand arising from Web Loans Processing Ltd that is part of the Toothfairy Finance company. They serve their loans at the address of www.easyfinanceclub.com that was initially put together in 2010 although there was an update in 2012 that looks to be the time that they launched. This launch was initially met with much controversy regarding their high APR figures that have now been reduced. The available loans here stretch from £100 to £400 with terms sitting between 7 and 28 days. £100 taken over 7 days would cost £8 with the daily rate sitting at 1.14% that is a good price. There is however a fast transfer fee that is not displayed that is priced at £5.

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