Moneyboat Loan Alternative
If you’ve hit unexpected short-term financial difficulty, Moneyboat could help you stay afloat. However, if you’re thinking about getting a loan from Moneyboat… Have you weighed up all your options?
If you’re now wondering if a lender like Moneyboat is best for you, we’ve taken a look at what this lender has to offer and how it compares to a loan from BingoLoans.
Is Moneyboat a direct lender?
Yes, Moneyboat is a direct lender. This means that when you apply for a loan and are approved with them, it is them that send you money. BingoLoans is also a direct lender and so if you apply to us, your loan will come from us. However, BingoLoans is also a broker, so if unfortunately your loan can not be approved by us, it will be sent to our panel of lenders.
How much do BingoLoans and Moneyboat offer?
If you decide to apply through BingoLoans for your short term loan, you can choose between amounts from £50 to £1,500 – covering a wide range of circumstances when you need cash quickly for an emergency. Moneyboat offer loans from £200 to £1,500. We always recommend you don’t borrow more than you need simply because you can, so if you’re looking for a small loan of £100 it may not make sense to apply to Moneyboat.
Moneyboat have a shorter repayment period than BingoLoans, as you can only take out a loan for 6 months. Whereas, we offer loan terms of up to 12 months. So, if you’re after a longer repayment period, we could be better suited to your needs.
How BingoLoans can help you
BingoLoans offers “life support” as and when you need it. Life has a way of taking a U-turn when we least expect it, and an emergency expense just before payday can make us worry where we will find the money to pay for it. With an instant decision and small loan amounts available, you can cover an unexpected cost and get back on track. Take a look at the additional range of benefits BingoLoans can offer you.
With loans that can be repaid early to save on interest as well as the ability to spread the cost of borrowing over a twelve-month period, BingoLoans can help you handle the emergency at hand without losing track of your finances.
Looking for more information?
Want to know more about short-term loans and when one may be right for you? Take a look at our guides on how we compare to other loan providers, to decide which lender is the best choice for you.