What companies offer loans by text

You may not have heard of it, but there are a growing number of companies in the UK offering loans right now via the medium of text messaging! It's an extremely convenient development for people who need quick cash and don't fancy filling out a mind numbing array of paperwork. In this blog, we'll be investigating loans by text and checking out whether they are worth getting involved in.

All of the companies offering loans by text are pay day loan companies. You aren't going to be able to take out a sizeable loan this way, with most companies only offering to let you have a loan in the region of £100. It's one of the fastest growing sectors in the loan market, as people can simply text a number, and the money will be in their account within minutes. It's so handy it's almost dangerous!

One company offering a great deal on these loans right now is Text Loan, who you can find online at txtloan.co.uk. Txt Loan works by registering your phone on their site. Simply send them a text then and you receive a cash advance in your bank account within minutes. They then debit your account 15 days later. You can use their service once a month too.

Of all Pay Day Loan providers, they offer perhaps the best deals, as they allow you to borrow up to £300, with a £400 minimum income required for a pay day loan. If you borrow £100 from them on a 15 day term, they charge £17 pounds interest - which is 414% APR if taken across a year.

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