Doorstep loans

Tuesday, 11, Apr 2006 04:30

Doorstep loans are small loans for individuals that may struggle to qualify for a bank loan or have been refused by high street lenders in the past. They provide easy access to credit that many of these customers would not have elsewhere. Doorstep loans are typically offered to low income households including single mothers, those on benefits, retired and those with a bad credit rating.

A doorstep loan is often seen as being more personal and convenient with credit and repayment literally from your doorstep. However, it is a relatively recent product and as such is quite difficult to find with some lenders charging uncompetitive rates.