Speed Loan
Review of speed loan - 12 month fast cash loan product £300 or £600
We have recently completed a review of the speed loan product supplied by Speed Loan Finance part of Albermarle & Bond PLC who where established in 2001.
This product is relatively unknown and not really marketed to UK customer directly as it is primarily promoted via Albermarle and Bond PLC network of 75 pawn broker shops.
Speed loan offers a very innovative product which offers customer a fast cash loan paid directly into their bank account, the same day. Sucessful applicants can pay back the loan over a 12 month period, even if they have a bad credit history. This loan has a distinct advantage over products such as payday loans, as it gives the customer the opportunity to make smaller repayments over a year. Thoses with an adverse credit history will be considered if they meet the application requirements and have the correct ID. Speed Loan will not lend to customers who are currently in a debt management program.
Due the risks involved in lending unsecured applicants must meet the following criteria;
- Be over 21
- Have a bank account
- Earn at least £1000 take home pay per month
There standard loan amount is £300 but can be increased to £600 for some customers that have a cheque guarantee card.
When applying for the loan in store clients must take the following id:
- Recent wage slip
- Bank statement
- Passport or driving license
- Recent utility bill (less than 8 weeks old)
Application can be made online via www.speedloanfinance.com or via any Albermarle & Bond branch who will arrange for funds to be transfered.
We made a test application in July in Birmingham and found the process to be very smooth and received high levels of customer care. The staff instore took considerable time to explain the process and answer any questions we had. The funds where available in our account the same day.
The only other similar product offered in the UK is provided by Provident Personal Credit, who offer fast cash loans from £50 - £500.
Application and repayments are made via Providents home collection service provided by traditional local Representatives.
Get a fast cash loan from Provident up to £500 - Click Here
My Fast Cash Loans 23rd July 2008
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