Small loans online are big business for unscrupulous payday lenders who love nothing more than preying on vulnerable borrowers.
Northern Community Bank has a four-decade history of doing the exact opposite. This is why we remain one of the community’s most trusted lenders when it comes to small loans online.
The ‘tide-you-over’ loan service is designed to help you manage life’s unexpected expenses without falling into the debt traps set by payday lenders.
It’s often for an amount of around £500, to be used for managing a small financial hiccup such as a car or boiler repair, or maybe a spot of decorating, or even a short getaway.
The big difference between Northern Community Bank and payday lenders lies in our approach to lending. As a not-for-profit organisation, we’re focused on serving our account holders – not shareholders – prioritising fair lending and financial well-being with transparent terms and an emphasis on affordability.
This is perfectly characterised by our £500 Family Loan and Savings Scheme.
How Northern Community Bank’s Family Loan Scheme works
Our £500 Family Loan and Savings Scheme is the perfect solution for those above-mentioned pesky life expenses. All Northern Community Bank account holders need to do is complete a simple loan application. There is no credit check required, only an affordability assessment. Applicants must be in receipt of child benefit, which will be paid into your Northern Community Bank account. A portion of this will be used for loan repayments, while a small amount will be set aside in a savings account, which cannot be accessed until the loan is fully repaid.
This innovative scheme not only helps cover immediate needs but also encourages better financial habits. In turn, helping you build savings for the future while improving your overall financial stability.
I need my small loans online now – can Northern Community Bank help?
As small loans online are often needed for unexpected emergency expenses, time is usually of the essence. Northern Community Bank wastes no time in making sure the money you need is in your account, sooner rather than later.
Our small loans online decisions, are made by real people not computers. They are usually completed within 48 working hours once we have all the necessary information. And if your application is successful, we can make a same day BACS payment.
We also understand that not everybody has the time to be coming into a branch to fill out loan applications. This is why we provide a convenient online service.
The quick and easy application can be done from the comfort of your living room just using your mobile phone or tablet.
And if you have any questions – about small loans online or anything else loans related – then you can speak to a member of our team through the Northern Community Bank app.
