This often happens when we are running out of money, and this happens to everybody. In a month we have spent money on things which are unavoidable, for example, festival shopping and medical emergencies. Due to these extra payments, your monthly budget becomes tight and you have 10–15 days left until the next salary. It becomes hard to sustain every single day. In such a situation, you need a loan, but a small one that helps you to pull through your month.
In this article, we will discuss how you can get 100 pound loans.
What Is A £100 Loan?
It is a loan of £100, which we can consider a short-term loan. We require such a loan when some financial emergencies occur, and due to that unexpected spending, our monthly budget gets disturbed and there are around 10 to 15 days to get the next payment. In such a situation, short-term loans can be life-saving.
Is There A £100 Loan Possible?
Yes, it is possible for a £100 loan. Either you can ask your family or friends to lend you money, or you can ask these fintech companies. These FinTech companies were established just for this purpose, for example, little loans, Boutell etc. These companies are always ready to provide you with a small loan, and you can pay them back in 2 months, 3 months, 4 months, or 6 months.
Who Is Eligible For A £100 Loan?
The following eligibility criteria need to be met to qualify for the loan:
- Your age should be above 18.
- You must reside in UK and have a permanent address.
- You must have a UK bank account, and your salary must be paid into it.
- And, you shouldn’t be bankrupt.
Who Can Lend You £100?
Family And Friends
100 pound loans are a small amount for which we can ask our family and friends to lend us. Even though this is the best way to obtain a loan, people are still hesitant to ask for money. If you don’t have proof of your income and you are in urgent need of money, then family and friends are your best options.
These are the people to whom you can go to ask for money. You need to pay the money back to the money lender with interest. But it is hard to find money lenders willing to pay you. In such a situation, you can approach the broker, who can become the middle man between you and the money lender. He will find a suitable lender for you and help get the deal done. But the problem is the same, where to find the broker. To solve such a situation, many platforms are available over the internet in the form of websites and applications. It helps you meet the right money lender, who is in between as a broker.
A website like Indiegogo provides you with the platform to raise money for yourself. It is not that easy. For this, you need to have strong networks and persuade people that your cause is generous and they should help you. It is very hard for people to trust strangers and invest in them. Your networking can help you build the trust of investors, which leads to donations.
Above are a few ways you can get money, as well as this article, answers the doubt regarding the £100 loan.