Unexpected financial emergencies can hit at any time to anyone. You could discover your car needs urgent repairs or you’re faced with increased household bills that you don’t have the cash to cover. Whatever the reason you’re struggling for funds, a £200 loan can help.
This short-term loan is designed to give fast financial relief. The £200 loan can tide you over until your next payday or until you get access to other funds. While there’s no guarantee you’ll be accepted for a £200 loan, we will do our best to match you with a suitable lender. As a broker, we work with a panel of over 50 lenders who consider applicants with all credit types.
Applying for a loan with Tendo is simple and straightforward and we aim to get you a quote or loan offer within a couple of minutes. You can use our online application form to select the loan amount and repayment schedule you’d like. We’ll give you a quote within minutes and the money could be transferred into your account on the same day if you accept it.
The Tendo team want you to feel confident and fully informed when it comes to your financial decisions. In this guide, we'll look at what a £200 loan can be used for, how to apply for one and what to consider before you accept the loan.
What are the benefits of £200 loans?
It can be an incredibly stressful time when you’re faced with urgent bills, and you don’t have the funds to pay for them. That’s where a £200 loan comes in. This type of short-term loan is repaid in small instalments over a few months. It can give you a much-needed financial boost and help you pay for anything from washing machine repairs to a deposit for a wedding venue.
While it’s quick and easy to apply for a loan of £200 with Tendo, the decision shouldn’t be taken lightly. You should only apply for loan if you think you can comfortably make the repayments and if the loan is to cover urgent essential costs. It’s not a good idea to get loans for £200 to cover frivolous purchases, un-necessary expenditure or to cover gaps in other borrowing as this may worsen your financial situation.
Key characteristics of £200 loans include:
- Short-term loan: pay the loan back over a few months
- Online application: quickly apply using a simple online form
- High interest rates: higher interest rates than alternative traditional loans
Why choose Tendo Loan for a £200 loan?
Here at Tendo, we offer a fast and reliable lending process that helps applicants of all backgrounds to find loans. Whether you’re looking for loans for 200 pounds or 5000 pounds, our simple online application form makes the process clear and straightforward.
During our application process, we’ll ask you questions about your personal and financial situation. Your responses will help us match you with the right lenders who can offer you the loan and terms that suit your unique circumstances. We’ll provide you with a quote where possible from one of our best suited lenders within minutes, which you can then choose whether to accept or decline. If you accept the quote, the money could be transferred into your bank account on the same day or the next day.
Can I still get a £200 loan if I have bad credit?
Many of our lenders consider applicants with poor credit scores or credit histories. You could be accepted for loans for £200, even if your application has been rejected elsewhere.
It’s important that you make the £200 loan repayments on time. If you miss repayments, it could cause your credit score to drop and further impact your personal and financial situation. However, repaying your loan on time and in full can help improve your credit score.
What types of loans are available for borrowing money?
With the help of our lenders, we offer a variety of short-term loans, including emergency loans. You can borrow the loans over a period of 3 to 36 months, based on your application and the lender’s terms and conditions. Emergency loans can help you cover urgent financial expenses, such as an unexpected bill, sudden car repairs or other costs which can sometimes appear from nowhere. Please always think carefully before borrowing money and always borrow within your financial means.
Can we lend you more than £200?
Our lenders offer between £100 and £5,000 loans, including our loans of £200. Lenders consider your income and regular outgoings to help them determine how much you can afford to repay. It’s important you’re truthful in your application so that the lenders can help you get a loan that suits your financial circumstances and is affordable both now and over the term of the loan.
What to do if you’re struggling with debt
Before you apply for a loan, it’s important that you consider whether you can afford the repayments. If you feel you are struggling financially, it’s a good idea to contact specialist financial organisations who can give you advice and tips on managing your money. This includes organisations such as the following:
