One of the most innovative lenders, Drafty offers a unique solution to those who require funds at short notice. They do not provide payday loans or short-term loans, but a unique credit line they define as an on-going account a customer maintains with Drafty where you get access to a cash pot of no more than £3,000. You can then dip in and out to request the funds you need, which are then transferred to your UK bank account in less than 15 minutes. The financial safety net ensures you always have a backup money plan, but you do not have to utilise it until you need to. Their short-term loan rates are very customer-friendly where a 28-day £100 loan costs £5.04 only.
To access a Drafty credit line, you only need to apply online, and an instant decision will be made once you have qualified. You can then set your own credit limit not more than £3,000 that you can use anytime you need fast cash for unexpected bills and emergencies. If you do not use your credit line, you will not be charged any fee. Repayments are flexible and repaying early or more in any month does not attract charges.
Drafty offers a fresh safety net approach for those who may not have a bad credit history per se or the best and ignored by high street lenders and payday lenders. Since 2016, the lender has been offering up to a total of £3,000 for a person to dip into anytime a pressing need comes up. Drafty does not offer short-term loans, overdrafts, payday loans or bad credit loans but a unique safety net credit line product with up to £3,000 of available funds you can access within 15 minutes whenever you need to.