Quick Cash Club Loans – Small Guarantor Lender

Quick Cash Club Loans specialise in smaller guarantor loans of £100 to £2,000. Simply find a friend, relative or colleague to back up your loan and borrow the money you need, regardless of your credit score.

 

Minimum Age

18

Debit Card

Yes - Direct Debit Facility Accepted

Credit Checks

Yes

Other Requirements

Guarantors don't need to be homeowners

Same Day Transfer Available

Yes, before 4pm on a working day

Loan Value Available

£100 to £2,000

Representative APR

from 208%

Loan Length

6 to 36 months

Credit License Number

645294

Borrowing £550 over 12 months, repaying £90.86 per month, total repayable £1090.32. Interest rate 150% p.a. (variable). Representative 346.79% APR (variable)
  • Direct
    Lender
  • guarantor
    lender
  • credit
    check
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The Quick Cash club and was set up in 2012 to allow those with bad credit or no credit the opportunity to get the funds they need, especially if they have been declined elsewhere.

By having a guarantor in place such as a family member or friend, there is someone who believes in you and is willing to be part of the loan transaction and cover your repayments if you default. By having someone with a good credit history to be your guarantor, it can increase your chances of being accepted for guarantor loans, hence giving an opportunity to those with poor credit histories.

How The Application Works For Quick Cash Club Loans

As a direct guarantor lender, there are no upfront fees for applying and Quick Cash Club loans are the ones who will be able to process and fund your application.

Applicants you can borrow £100 to £2,000 through their website and they do not take applications over the phone or by post. Quick Cash Club loans can be funded on the same day provided that it is a working day and the application is made before 4pm.

Subject to approval, both the borrower and the guarantor will be required to electronically sign (or E-sign) a pre contract agreement. Quick Cash Club Loans will send a PIN code to the main borrower via SMS text message and this is used in the loan agreement to ‘sign’ the document. The borrower can share this pin with whoever he wants to be his guarantor who will also be required to Esign.

What Is The Criteria For Quick Cash Club Loans

Guarantors do not need to be homeowners to be eligible for a Quick Cash Club Loan, this is mandatory for some other lenders – so you can have a tenant guarantor as part of your loan.

Guarantors must be over 21, have a good credit rating, and have an income of at least £800 per month.

How much you are able to borrow will depend largely on your personal income and the income and credit score of your guarantor. Typically the more you and your guarantor earn, the more you will be able to borrow. First time customers can typically borrow a limited amount but repeat customers are able to borrow provided they have paid their previous loans on time.

Checks carried out by Quick Cash Club Loans

Like most competitive guarantor lenders, this lender will carry out thorough credit and affordability checks on their applicants as part of their commitment to responsible lending.

The credit checks are important to see how well both the borrower and the guarantor have paid other loans in the past and how many they have outstanding, giving the lender an idea of how much they can afford, borrow and ultimately whether they are eligible for a loan.

The affordability checks include things like checking their income and salary and matching it with the amount they have requested to borrow. Lenders have to be careful not too lend too much or it will create financial pressure for the borrower.

An additional check carried out by Quick Cash Club involves the funds being sent to the guarantor upon approval. This is used as a anti-fraud measure and allows the guarantor to send the funds back to the lender if they wish or go ahead with the agreement and forward to the monies to the borrower. For more information, visit ‘the checks carried out by guarantor lenders.’

How Do Repayments Work For Quick Cash Club?

The repayments are repaid in equal monthly instalments and customers can decide to repay over 6,9,12, 24 and 36 months. Customers have the choice to repay early if they wish and there are no extra charges for doing so and you can save money on your loan too.

Repayments will be collected automatically through your debit account on a scheduled pay date agreed between the borrower and lender. Using continuous payment authority, the borrower’s debit card is tokenised during the application and means that collections can be taken automatically from the debit account each month in a smooth and easy way.

A series of emails and SMS messages will be sent to the borrower on the days leading up to each repayment to ensure there are no surprises.

Useful Information About Quick Cash Club

Company Number 7653377

Interim Permission Number 645294

quick-cash-club

Registered Address: Pine Court, Gervis Road, Bournemouth BH1 3DH