When I took out a payday loan, I realised I had done a great thing.

I was securing my funding as I started my new company about a month ago, and I was in need of monetary assistance.

I hoped that I would get it pretty soon.

But I had a problem.

My company is now a successful small business in the UK. I am running it with50 of my employees, who all seem to be fine with their jobs, and we have a very close and regularised revenue system. I will tell you that I enjoy this many I am a fan of organisation and that is just the aspect I wanted my company to own.

But when I wasn’t successful and wanted to make myself so, I faced an issue in the financial section of my business.

That made me quite worried.

Thanks to direct lenders, that problem of mine got over. But I was looking for a payday loan and was anxious about a single fact: What if I don’t get the approval I am looking for?

What if I lose money?

What if I don’t get the loan and time runs out?

Well, with the team of Safe Money Loan, that problem has been solved.

Here’s what I knew from them:

What did I learn about a No Refusal Payday Loan in the UK from Direct Lender?

I faced a problem making immediate funding for a project, which I completely forgot to include in my business plans.

Yes, I made a mistake. But I rectified it.

I have been looking for a solution that would make sense. I am not much of a loan can smartly take it out and get the payment done with the intricate interest rates.

Franklpeaking, I am too dumb to understand a loan. 

However, before borrowing the loan and even I got in touch with a lending partner, I had been thinking almost obsessively that I didn’t want to count the money over a long period. 

I know what you are thinking.

You might think how an organised person can disapprove of loans. It is because loan instalments will teach you to be organised financially, which helps.

Yes, that is true.

However, it can be possible that my idea of organisation is different from yours.

Or that I want to be extremely organised. Hence, the decision of a payday loan with no refusal from direct lenders in the UK

When I got in touch with my lending partner, I was unsure about payday loans.

It is because I searched on the Internet and learned that payday loans without refusal are not very common in the UK.

Yes, I was a bit down like you on finding this out.

But then again, things change.

I did more research and found that they are still possible with direct lending businesses.

This is what I have been waiting for.

Getting in touch with one of them, I got my money, solved my problems and, in the process, learnt a lot of lessons.

I want to disclose them (I know you have been waiting for them). 

Just one more thing, though!

It was knowing what a payday loan means in general that matters the most. 

For your information, a payday loan is one of those personal loans or unsecured loans offered as a short-term lending option. You can take out an amount of money, and you need to agree on the loan terms that you are making repayment on your next payday (the day when you receive your salary/ paycheck or the amount of revenue you expect). Under certain conditions, you will be offered a payday loan with no refusal. 

Below are the things you need to know about these loans:

The FCA has Rules for a No Refusal Payday Loan 

The FCA is known as the Financial Conduct Authority. It looks after all the lending processes and monitors the direct lenders and other authorities dealing with moneylending.

While there are such official restrictions about a no refusal payday loan from the FCA, the institution made it a point to direct lenders that they cannot lend money to people who cannot afford it. It means borrowers with a stable income officially cannot prove their sufficiency to organise the payday loan repayment.

Let’s say your salary is not up to the level of the loan repayment amount. In that case, you may not get approval for the loan.

So, we can call a no refusal loan in this way. Any payday loan is a no-refusal loan when your salary is in the right amount. A salary of that mark will make a desirable debt-to-income ratio, which will get you a payday loan without refusal.

Most Short-Term Payday Loans Are Easier than Other Loans 

Personal loans belong to a vast category. You have bad credit loans and then personal, unsecured loans for the unemployed. 

Not all of these loans are easily available.

It is because bad credit loans or personal loans have formalities to take care of. These take time.

On the other hand, a short-term payday loan is easy as the amount is relatively smaller (although there is no limit to that), and the term gets over within a very short period. 

Most people look for payday loans knowing the conditions. They check their salaries and then go for it, resulting in a no-refusal payday loan. Direct lenders in the UK can also guide you in this process by using an advanced loan calculator and assessing your income from the lenders’ perspective. 

Direct Lenders Will Still lend You the Money in a Poor Credit. 

It is true that you can earn a decent amount, but you may have been suffering a poor credit score.

That is okay with direct lenders, though.

A poor credit score can hinder a payday loan. But again, it is something that direct lenders ignore, provided you have a good income to repay the loan on your net payday.

Since a payday loan is all about your salary (or mostly about it), direct lenders pay less attention to the part of the credit score. 

Besides, follow the records of direct lending practices and borrowing history of the UK. You will find that most payday loans are taken as emergency loans or quick and easy ash loan options, for which a credit score check is not strictly mandatory.

However, your larders might make a soft credit check to ensure they have just moderately viewed your credit card report and understood your financial behaviour.

To Conclude 

Before taking a payday loan, always have a good conversation with your lender.

But remember that your income is enough to get the loan in your bank account.

In that way, you can consider that no refusal of payday loans is not a myth but a reality.

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