Our efficiency is achieved largely due to our one-page loan application, which does not require any extensive information or paperwork. This shortens the processing time immensely. As the process is also completed completely online, you can start to get an idea of why we are able to arrange your loan so efficiently.
Since Cobra Payday Loans launched in 2014 we have processed over 1,000,000 loan applications. Due to our quick and efficient service, our customers look to us whenever they are in need of a small short term loan. We owe a lot of our success to our customers that spread our brand via word of mouth.
Making an application with Cobra Payday Loans.
The first step, of course, is to fill out our easy to understand application form. You will be asked to supply details such as.
Once submitted, what happens then?
This is where the magic happens, once you have submitted your application we forward it to be considered by our panel of 20+ lenders. Don’t worry, all these lenders are FCA authorised and at this stage, no footprint is left on your credit record. We cut down the time it takes to find a loan, by querying a wide selection of lenders at once you substantially increase your chances of finding a lender willing to lend to you.
After a short wait you will be presented with the outcome on screen, we have an extremely high acceptance rate so if we find a lender that would like to offer you a loan you will be automatically redirected to their website to finalise your application. It goes without saying that you should check the lender's terms and conditions and loan terms before proceeding to accept the loan.
Accepting a loan offer.
Should your application be successful and you have been redirected to the lender's website you will be presented with a loan agreement. Check over your agreement again to make sure all your details are correct and if you are happy you will be able to electronically sign to complete your application.
Some lenders may wish to further verify some details from time to time but they will make you aware of this before you are able to sign.
Getting your money.
Once a lender has received your signed loan agreement then your funds will be sent to your nominated bank account, usually the same day. A lot of lenders utilise faster payments these days if the lender you have taken a loan with uses this service then you could have the money in a matter of minutes. Though this does depend on if your bank accepts faster payments as well.
