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Robbing the Payday Loan Store

The key to finding the right small cash loan is to do as much homework as possible. It's essential that you compare like with like ; something that's recently been made easier with government regulation that requires loan companies to detail the total amount repayable. The 'cost' of the loan will be a function of the APR, the repayment period and any arrangement fees. When comparing secured loans don't be seduced by any one of the above variables (some lenders will offer a low APR and simply increase the term), but instead look at the overall cost.

Here's what a handful of our customers had to say about us:

'I'd like to thank all the staff at First Aid Finance who assisted us with our loan application; you were very understanding and sympathetic to our circumstances' Mr & Mrs Cope of Walsall, West Midlands

'Great straight-talking service' Mr Mac Donald of Brixton, London

'Our calls were always returned and we were kept well informed of the process. a pleasant change.' Mr & Mrs Whitfield of Sandbach, Cheshire

'Having approached a number of other companies, you came back to us the quickest, with the best deal.' Mr Wilkes of Telford, Shropshire

'Just a quick email to say thanks for all the hard work you've put in. I know that it can't have been the easiest loan to arrange and I sincerely appreciate all the effort. now looking forward to the future.' Mr Marshall of Camberley, Surrey

'It is not often that I am moved to put pen-to-paper, but I would like you to know what an asset Marc is to your company. From the outset he has bent over backwards to help us though this difficult period.' Mr Stepney of Abingdon, Oxfordshire

'Thank you for raising the £10,000 required to finish home improvements. We were surprised you could help, as we had unsuccessfully attempted to raise the extra on a remortgage. We would be happy to recommend you.' Mr & Mrs Wood of Nuneaton, Warwickshire

James Lewis began working in the unsecured loans industry in the mid 1990's, but it wasn't until the new millennium that James realised life in a large brokerage wasn't for him. “I soon started to become fed-up with the impersonal way that we were treating our customers,” begins James “as the market became more competitive; we were expected to become more and more cut-throat. It just wasn't me.”

Lewis decided to assemble a team of experienced underwriters and set up an independent brokerage. His firm had been born.

“The difference between us and the rest of the competition,” continues Lewis “is that we take the time to listen to our customers. If you're going to find the best loan; you need to really appreciate your customer's circumstances. People want unsecured loans for all sorts of reasons from splashing out on a new car to paying existing debts.

“It's important to understand the position that your client is in without judging them. After all there aren't many of us who can honestly claim to have an entirely clean bill of financial health. If someone's had a run of bad luck in the past, and picked up a few CCJs or fallen behind on their mortgage repayments, we can still help.”

Customer care is one thing, but surely all customers really care about is getting the best deal? Lewis agrees “Making the loan process as painless as possible helps, but it's our determination to find the best rates that keeps winning us business. We have access to a vast range of products, and because we are a truly independent brokers; we won't push one lender over another”.

So how would Lewis sum up his company philosophy? “We have a common-sense approach to business” he continues “you'll find that if you have the right product and treat your customers honestly and openly: word travel fast”. Read more on simplepayday.co.uk

It's a good idea to see if you can get some flexibility built into your loan. You might not need it now, but a repayment holiday may prove a welcome break in the future. Also make sure that you know what repayment penalties you will be charged if you intend to settle your debt early.