Scotcash UK Online Expansion
Posted by: Eden Morrison on March 16 2018 | Tagged:
Scotcash is delighted to announce that our Online Affordable Loans service is now available UK wide!*
Through the inclusion of more communities in the UK, Scotcash will work towards its aim of providing accessible and affordable financial products to those who need them most.
It has been discovered in a report written by Bristol University, that those who are unable to access affordable financial services and products pay a ‘poverty premium’ of on average £490 per year for essential products and services such as telephone and energy bills. Part of this cost comes down to the lack of affordable credit options available to a number of members of the UK public.
For those who cannot access credit from traditional sources such as banks, or credit unions, it can feel like the only options left are high-cost lenders, or illegal money lending. Both of these options are extremely expensive, and at times, dangerous.
This is where Scotcash and other affordable lenders can help. When comparing a £500 loan over a 52 week term, Scotcash customers can save up to £230 compared to other lenders.
Scotcash loans are based on income and affordability. This is assessed by a loan officer who will look at your initial application, along with your last 8 weeks’ worth of bank statements, which will help them to determine how much you can afford to borrow.
You can apply online for a Scotcash loan here. The application only takes a few minutes, and after it has been completed we will need you to send the last 8 weeks’ worth of bank statements to us via email or our online portal. After this, you will hear from our team within two working days with a decision on your application.
*Please note that at this moment in time the online expansion does not include the provision of Affordable Loans to those who live in London.