Understanding 90 day loan agreements

What are 90 day loan agreements?

90 day loans are loans for any amount of money that must be paid back within 90 days which is around three months. Usually, these loans will be paid out to people who are unable to afford their monthly direct debits or need urgent money for house or car repairs. This is not normally a case of poor budgeting but rather a simple lack of cash to cover the costs until pay day comes along. With the downturn in the economy and unfavourable markets the world over, this is becoming a more and more common occurrence.

How much can be borrowed?

Usually, smaller companies do not lend more than £5000 for short term loans. This is for a variety of reasons but usually relates to the fact that most people who use the service will not be in receipt of more than £5000 on pay day to be able to pay back the company who lent out the money in the first place. It is true that anyone with any salary could need short term help at any time but most people fall within this bracket so limits are put in place to protect all parties.

Where can 90 day loan agreements be organised?

The simplest way to arrange short term finance is to search for a company that is suitable for you online. There are a large number of companies offering finance but try to stick to commonly known companies who advertise widely in magazines and on television as this are the most reputable. Most money agreements can be arranged in minutes and the money can be in your account the same day.

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