Setting aside personal borrowing options such as friends and family, there are many resources at your disposal to borrow money. Each come with their own benefits and limitations so it is important to conduct a thorough review of your financial needs and understand the terms and conditions before taking on any further debt. The first place most people turn when needing a loan is their bank or credit union, although these can often be a drawn out process and can come with high interest rates when considering overdrafts, credit cards, cash advances or a line of credit. Another common way to borrow money is payday loans, however these often come with a very high interest rate and can push the borrower into a vicious cycle of falling further and further behind. Another method ? personal loans ? come in many different forms from secured to unsecured, low to high value and are offered by banks, credit unions and private companies and lenders ? these loans are often used for fairly large purchases such as weddings, cars, or home improvements. A relatively new form of borrowing widely becoming a preferred choice for short-term loans is peer-to-peer lending, in which marketplaces match private lenders with borrowers and are generally quicker, cheaper and more flexible than traditional lenders.
The Money Platform is an example of this type of platform facilitating peer-to-peer direct lender loans to people that need quick cash, transparent terms, and great customer service. Matching lenders with borrowers and cutting out the middleman we ensure borrowers get their funds quickly with full support every step of the way, thereby benefiting British people, not banks. See if you qualify in under 90 seconds.