Loans from CreditPoor – how do they stack up?

Millions of people in the UK can now access loans with bad credit. This is all thanks to a lending pool known as CreditPoor. CreditPoor is one of a kind, it’s one of the very few lenders who offer non guaranteed loans to borrowers with poor credit scores. Additionally, its services are entirely online. You don’t have to visit offices or queue in order to access loans.

A credit broker
Although it seems convenient to refer to it as a lender, CreditPoor is basically not a lender. It is a credit broker. As a credit broker, it brings together a network of money lenders from all over the UK. It then links its millions of clients to these lenders for access to poor credit loans. CreditPoor is a licensed and accredited company which is listed on the Financial Services Register.
A company dedicated to poor credit borrowers
CreditPoor is a lending channel that is entirely dedicated to customers with poor credit. It’s not often that you’ll find this happening. Most financial institutions and platforms tend to shy away from bad credit customers. Their biggest fear is that they may default in loan repayment thereby leading to unrecoverable losses.
A lot of people find reprieve in CreditPoor. They are especially attracted by the fact that it doesn’t require them to pass a credit score. CreditPoor only requires to be 18 and over, be employed, and to also have a valid address. It will then offer you loans depending on your eligibility for them.
Types of loans offered by CreditPoor
CreditPoor offers both personal loans and payday loans. Below is an individual look at the loans offered by CreditPoor:
Personal loans
CreditPoor offers non guaranteed personal loans starting from £1000 to £25,000. The interests for these range from 7% to 278% whereas repayment period is between 3-36 months.
Short term loans
� You can borrow up to £3000
� Interest rates are from 278% to 1576%
� Repayment period is between 3-12 months
Guarantor loans
� You must be 18 and over
� You must have a guarantor
� Interest rates range from 49.7% to 49.9%
� Repayment duration is 3-36 months
Payday loans
These are small cash amounts which you can use to cater for your living expenses than pay later on.