In 2014, it was reported that Glasgow had the most payday loan shops in Britain. Glasgow allegedly had 51 payday loan shops in the city, while Birmingham came in second with 45. If you live in Glasgow and are faced with a financial emergency, you might choose to go to one of these many shops, or to search ‘payday loans in Glasgow’ online.
What are ‘payday loans in Glasgow’?
‘Payday loans in Glasgow’ are a form of short term credit available to people living in the city of Glasgow. Lenders will offer small loans to be repaid on the borrowers next pay date. Some lenders will also offer instalment loans, which allow the customer to repay their loan in multiple payments as opposed to in one lump sum.
While someone from Glasgow might need a short term credit solution to get by, they do not necessarily need to search for ‘payday loans in Glasgow’ when looking for online loans. A borrower living in Glasgow could apply for a loan from an Essex based lender if they wanted to.
When applying for an online payday loan, there is very little paperwork and no need to leave the comfort of your home. This means you have a much broader range of lenders to choose from, as you can apply for a loan from anywhere in the UK.
How to apply for ‘payday loans in Glasgow’
You can apply for a payday loan in a number of ways. Searching for ‘payday loans in Glasgow’ will bring up a choice of loan shops in the city of Glasgow. You can use payday loan shops to take out a loan, however there is likely to be more paperwork and queues than there would be compared to an online application.
Alternatively, you can apply for a payday loan online or by telephone. Some lenders also have a mobile app for applications too. You simply need to submit an application, providing details such as home address and monthly income. Once the application has been completed, the lender will make an assessment based on your ability to repay the funds. You are also usually required to be a UK resident, over the age of 18, and earning a minimum monthly income.
If approved, the loan can be in your account within the hour, depending on your bank, and how quickly they are able to process the transaction.
Payday loans in Glasgow
While searching for ‘payday loans in Glasgow’ might be beneficial for people looking for payday loan shops, it isn’t necessary for those applying online. Applying for payday loans online can be a quick and convenient solution to a short term financial emergency. Applications can be completed in a matter of minutes, with a decision reached soon after. Searching for payday loans in one city can certainly limit the chances of finding a reputable lender who will meet your needs and requirements. Searching for just ‘payday loans’ instead may be a better alternative.