Cash Pug is an online broker. The company works with a network of lenders, mostly private firms, spread throughout the country. These private lenders are independent of major banks and traditional financial institutions. They mostly deal in unsecured short term loans, including payday loans. Cash Pug is a broker. The company does not lend directly. It does not serve as an official extension of any lender. It connects borrowers and lenders anywhere and everywhere in the United Kingdom.
Ease of Application of Cash Pug
Applying for short term loans online has become unprecedentedly simpler. This is not only true for payday loans and unsecured short term loans, but also secured loans. The ease of application depends on how much of the necessary documents and details you have ready with you. The details are not a major problem because you will be aware of all important information about yourself. The documents required will be the real differentiator.
The online aggregator has a four-step online application process. The first step enables you to choose a loan amount and a preferred term. The second step is about your personal details, including name, age, address and contact information. The third step is about employment or business. Then the final step takes you to the vast network of lenders, many of whom will get back to you with relevant quotes. The second step has certain key fields, such as marital status and the number of dependants. These are essential information as lenders want to know how much financial assistance and liability you have. All lenders want to know this about applicants.
Providing the basic details requires a minute or two, depending on your typing speed. Work details also take barely a minute. If you have your bank statement or pay slip handy then the proof can be provided in no time. Some lenders ask for these proofs after they have sent you a quote so the initial application becomes easier. Cash Pug can help you to apply for loans online in a matter of minutes. You should not need more than five minutes to complete the whole process. You will start receiving quotes almost immediately. In worst case scenarios, applicants get quotes in email within an hour.
Chances of Approval from Lenders
The likelihood of getting approved is something that depends entirely on the financial profile of an applicant, the information provided, the loan amount and term, the preferences and policies of the shortlisted lenders. All lenders have preferences and policies. It is possible one lender will turn down your request and another will be more forthcoming. The correspondence following the initial online application is between lenders and applicants. The online facilitator ensures credible lenders contact applicants but it does not play any further role in influencing the approval of the loan or any kind of correspondence specific to the request that happens between a lender and an applicant. All applicants have the right to choose or turn down any proposition that comes their way.