At Smart Money Cymru, we are happy to take a loan application from you at the same time as you join. You do not have to save for a period of time first!
You can borrow money off us for so many reasons. Below is a list of the most popular reasons we provide loans on a monthly basis, but if you can’t see your reason, just contact us to ask.
- New car purchases
- Car repairs
- Celebrating – Weddings, Parties
- Funeral Costs
- Unexpected Vet Bills
- Unexpected Medical Bills
- Christmas spending
- School Uniforms
- Holidays or Staycations
- Debt Consolidation
Here at Smart Money Cymru Community Bank, we understand that emergencies crop at the most unexpected times, so members can apply for a top up to their loans at any time and the Underwriting Team will make an assessment on the application.
If you have been refused a loan, the reason for refusal would have been fully explained to you; however, we strongly advise that you continue saving with us to help future loan applications.
We might perform a full credit reference agency search in order to check your ability to repay a loan and also to clarify that the information given on the loan application is accurate. The information we receive from the credit search is used as a tool by our Underwriting Team, as well as many other factors that are taken into account. Please be open and honest with us to enable us to make the right decision.
Smart Money Cymru is a responsible lender and sometimes we need to make sure that you can comfortably afford the repayments before we approve a loan, as well as saving with us. We pride ourselves on providing affordable credit, not unaffordable debt.
Once all relevant documentation has been received, we aim to turn around all loans within 24 hours (this could change during particularly busy periods, such as Christmas). You will be contacted if we have any queries regarding your application.
You can use our loan calculator! This will give you a very good idea of what your desired loan may cost per month, and what the monthly repayments will look like. You can also give us a call to discuss as well.
We wouldn’t provide you with a loan if we didn’t feel that you can repay it and put some money aside into your savings at the same time. We aren’t here to encourage credit for debt, but credit to help you with your finances. We would absolutely ask you to give us a call so we can discuss your personal situation and provide you with advice.