Little Loans Shop
If you have a chequered credit history and are having trouble getting a loan at your bank, you can try The Little Loan Shop. Here you will be given a chance to borrow provided you show you have the ability to pay it back. This short-term lender specialises in payday loans that help salaried workers out of a tight spot before their salary hits the account.
The beauty of taking a Little Loan Shop is that you are clear on the terms from the outset. You know how much you will be paying in interest and fees from the get-go, so no surprises.If you agree on the terms, a direct debit order will be placed on your account for the repayments to be deducted automatically every month or week.
A calculator is provided on the Little Loan website so that you can get an estimate of the size of your repayments based on how much you’re borrowing and how frequent your repayments will be.
And you can apply for the loan from the comfort of your home or office so long as you have an Internet connection. Amounts range from $200, and depending on how frequently you come back to us and your repayment patterns, they can offer you up to $600.
What you need
Getting a loan with Little Loan Shop is easy; you only need to be a permanent resident of New Zealand above 18 years of age. The lender will also need assurance that your salary is deposited into your account regularly. This pay needs to be at least $450 per week. Besides this you will need to provide contact details, including a valid email address and phone number by which you can be contacted.
Your chances of securing credit with The Little Loan Shop will be low if you are self-employed or have an income below $450. If you are already servicing more than one other short-term loan, your application is also likely to be rejected.
Why The Little Loan Shop
The Little Loan Shop is a preferred lender for many New Zealand residents for the following reasons:
- Cost: Repayments for Little Loan Shop loans are among the lowest in the market. Period of repayment is flexible and can be stretched up to six weeks depending on your ability to repay.
- Speed: You could have the cash in your account within 60 minutes of your acceptance of the offer being received. Submitting the application online will take just a few minutes of your time.
- Confidentiality: You can apply for the loan in the privacy of your home without the knowledge of anyone. The lender also promises borrowers that they won’t contact their employer, even in the course of conducting credit checks.
- Transparency: Even before you apply for the loan you can confirm if you will be able to afford the repayments by using the calculator on the Little Loan Shop website. They go further by giving you all the charges that the loan will attract from the outset- no hidden charges.
- Login to the Little Loan website and fill in the online application
- Your application will be assessed in less than an hour and you will get an email confirmation in the form of an offer letter.
- After you accept the offer you will have the money wired to your bank account.
Points to note
- The Little Loan Shop only offers Kiwis short-term loans with a maximum tenure of six weeks.
- If you delay your repayments penalties will be levied and your credit rating will be adversely affected