Payday Loans that do soft credit check?

cheekykid

I've been using myjar and quickquid for some time and they have been great to me however I been wondering if there are more payday loans that don't do hard check on you but only a soft check just like them two.

My type of business at times needs sudden influx of cash and since I get paid weekly from clients I've been using payday loans for the time being and its going good, with little loss due to the interest. With that said my credit report has been bashed by few payday companies that hard check you hence my question.

StopIt

Nope.


All lenders will perform a hard check when you apply for a loan.


There's price comparison links on these sites now, they would be soft searches, but to actually get a loan, it's a hard check only.


If you're running a business, can't you open a business account with your bank and get a business overdraft to pay for these spikes?

bengalknights

All of them do hard checks unless its a preapproved offer in which case may do no check at all

Herzlos

There must be a better way to deal with cashflow than PDLs, think how much profit is being wasted on fees.

System

cheekykid wrote: »

I've been using myjar and quickquid for some time and they have been great to me however I been wondering if there are more payday loans that don't do hard check on you but only a soft check just like them two.

My type of business at times needs sudden influx of cash and since I get paid weekly from clients I've been using payday loans for the time being and its going good, with little loss due to the interest.

Do you know why your business is short of cash today? Its because it has had to repay money you borrowed from your future self and now the bill is due. Continuing that cycle will just kick the can down the road.

If your business has been running for some time, is only afloat because of payday loans and you're still in this position then you have some major issues. You need to pay yourself less so you can build up a cash reserve so you don't need payday lenders, grow your business more or accept it isn't a viable company and shut it.

DCFC79

I agree with the last 2 replies, really isn't a good idea to be using PDL's for the purpose you describe.

bazzyb

This is a very bizarre question... Hard searches are temporary and drop off your credit report after a year. They may 'bash' your credit report in the very short term, but they will do nowhere near as much damage as having payday loans on your credit profile, which will be visible for 6 years!