Ever wondered where to obtain quick loans without being prevented by a credit check or a really complex process? We have undergone this question numerous times and so have others. But this was often a question without answers because as Sri Lankan’s we do not have a lot of options beyond banks and financial institutions or lenders.
You may want to find places where you can obtain a loan without a credit check for a number of reasons. You may have failed to make a few payments and have been blacklisted, you may have been a guarantor to another party’s loan and they may have failed to make payments.
Regardless of what the situation is truth is a bad credit report will prevent you from obtaining a loan in many if not all banks and established financial institutions.
Where you can get quick loan?
If you want a quick loan without a credit check the only two possible outcomes for you are either going to a lender or a friend. This is of course with the exception of pawning something you own. Both these options are not ideally because usually lenders charge a high interest rate and you do not want to owe money to your friends or family.
However, there is now a service called Cashwagon.lk which allows you to obtain a quick loan without any credit check. How it works is simple, you have to fill out an online application which takes only a few minutes and within 30 minutes your loan will be approved and transferred to your account within 24 hours. The two best characteristics of this facility can be summed up as quick loans, no credit check.
Is credit history important to get a loan?
A credit history often has all your borrowings and repayment details and enables a lender to get a clearer picture of your repayment capacity based on your history. However, this is quite troublesome in many cases because regardless of your financial position being improved over time credit history may still paint you as a high-risk borrower in which case you will be denied a loan.