Economy
What Are Things to Know about a Same Day Loan?
A no-credit-check loan is a type of loan where the lender performs a soft credit check on the borrower instead of a hard credit check. That is a win, especially during emergencies, since you get the money approved faster. This type of loan also applies if you have poor credit or no credit. Its main advantage is that it helps you avoid one of the most challenging obstacles when it comes to borrowing – the hard credit check.
There are typically a few lenders who are prepared to offer same-day loans with no credit check. One of the reasons could be that these loans pose a significant risk to the lenders because of the threat of loss. But this does not mean you will not get a same-day loan with no credit check. The best solution here lies in good research.
Using a top-rated platform for same day loans online such as UnityLoan is an even bigger win for you. UnityLoan is a credit broker that has made it simpler than ever to access quick same-day loans without a credit check. Even with bad credit, their lenders will personally review your application to see if they can help – they usually consider other factors besides your credit score when deciding to give you a loan.
Are Same Day Loans Safe?
There are many safe and legitimate same day loans out here. To access them, you have to perform good research. Always aim for a company that has strict privacy policies and secure transactions. The same company should also be transparent about its terms and conditions.
One platform for same day loans that usually stands out because of public trust and positive reviews from customers is UnityLoan. This platform has millions of users that speak for its reputation. When millions have placed their trust in UnityLoan, it is safe for you to do as well. UnityLoan is a haven for connecting with multiple legitimate lenders for same day loans.
Their lenders usually perform soft credit checks, which allows you to access these loans with bad credit. Such credit checks usually enable instant transactions – you can get payments through selected means after completion and verification of paperwork. This can be done within 24 hours of applying. However, to get approved, you may need to convince the lenders with your educational background, source of income, or past job histories. Check out more by visiting UnityLoan.com.
The fact that UnityLoan is a transparent platform with no involvement of hidden charges of any kind makes it a safe platform for submitting your request for a same day loan. There is no obligation to accept the loan offer if you disapprove. Additionally, the data you submit while applying remains safe and secure – the platform employs a data encryption process to protect your information from hackers and other parties.
What to Look for in a Top-rated Platform for Same Day Loans?
When you need financial assistance quickly, a same day loan online can help you avoid getting stuck in the long queue at the bank. With same day loans, you can access an immediate influx of funds within a day.
Even with that convenience, you should not just pick any lender you come across. Choose the reliable and trusted ones by considering the following factors:
- Annual Percentage Rate: Choose a lender whose APR is favorable, usually within a range from 5.99 – 35.99%. It is essential to carefully examine the APR terms to see if they suit you. You can always reject an offer if you find the terms not useful
- Transparent Policies: Nobody wishes to be surprised with extra charges after accessing a loan. Ensure that the company you choose is as transparent as glass. They should disclose every fee upfront before you sign for the loan. That lets you know exactly what you’re getting into.
- Fast transactions: Any company should ensure the swift transactions of emergency loans. You don’t have to wait for unnecessary delays or authentication issues, especially after submitting the right documents.
- Simple Application Process: Filling and submitting an application should be as easy as possible. You should be able to easily compare and choose offers once the lenders send them after reviewing your information.
UnityLoan is a credit broker that doesn’t charge any fee. This platform provides a streamlined application process, which allows you to complete your application faster and access lenders and funds before midnight. In one application, you usually get access to a pool of lenders within a day.
What Type of Loans Can You Get Same Day
Same-day loans tend to have smaller amounts than other types and have loan terms that last a few weeks or even months. The following is an overview of some loans you can get on the same day:
Payday Loans
Payday loans are meant to help you meet expenses as you wait for your next paycheck. When you borrow these loans, the lender may ask you for your bank account details during the application. Same day payday loans are usually in small amounts and have shorter loan terms.
Payday loans are available fast with no credit check. They are also an alternative option to getting loans with bad credit. However, their interest rates can be very high compared to bad credit loans. Their Annual Percentage Rate (APR) can get close to 400%. If you re-borrow these loans several times, you can end up stuck in a cycle of debt.
Title Loans
These usually take your car as collateral. The lender holds on to your vehicle title and lends you the money. If you default on the loan, the lender may be allowed to seize your car. However, in the meantime, you can still drive your car around as you repay the loan.
Pawnshop Loans
Pawnshop loans require that you offer something valuable like jewelry as collateral for a loan. The pawnshop usually holds on to the item until you repay the loan. APRs for pawnshops usually lie at roughly 240 % because, according to the National Pawnbrokers Association, a fee on a pawnshop could be 20% on $ 80. However, this can also vary by the lender.
Benefits of Taking Out a Same Day Loan
There are many benefits to getting a same day loan. For example, they are an effective way to instant cash, which makes them best for emergencies.
Their application process is easy. When you use a credit broker such as UnityLoan, you use the platform to complete the process, which is entirely online and takes minutes. You only need to fill in and submit the right details, and the loan will be approved if you meet the eligibility conditions.
You can access funds without collateral, meaning you will not need to worry about losing your valuable assets if you default on payment. And also, bad credit is not a problem. Lenders for same day loans look past your creditworthiness when deciding to give you a loan. They usually consider your income and debt-to-income ratio instead.
Apply for a Same Day Loan and Get Approved as Instant as 5 Minutes
You don’t need to get frustrated any time you need instant cash. Try UnityLoan today for lender approval as soon as the minutes of applying.
Aduragbemi Omiyale
A Nigerian-based investment banking and advisory company, PAC Capital Limited, has promised transformative financial solutions that not only meet but exceed expectations of its clients.
This assurance was given by the Executive Director of PAC Capital, Mr Bolarinwa Sanni, after the firm was named as the Best Transaction Advisory Firm – Nigeria 2025 by the International Business Magazine Awards.
The award was in recognition of its consistent track record in structuring and executing high-impact transactions across various sectors, including infrastructure, energy, transport, and financial services.
This international recognition highlights the organisation’s commitment to excellence, innovation, and delivering value-driven advisory services.
“Winning this award reflects the strength of our advisory team and the boldness of the clients we serve.
“At PAC Capital, we are committed to delivering transformative financial solutions that not only meet but exceed expectations.
“This recognition inspires us to keep pushing boundaries and shaping Africa’s investment landscape,” Mr Sanni stated.
Also, the Managing Director of PAC Capital, Mr Humphrey Oriakhi, said, “This award is a strong validation of our efforts to lead with insight, integrity, and innovation in the transaction advisory space.
“We are truly honoured to be acknowledged on a global platform. I dedicate this achievement to our clients who trust us with their most strategic decisions and to our team whose dedication fuels our success.”
By Adedapo Adesanya
The chief executive of Ecobank Transnational Incorporated, Mr. Jeremy Awori, has called for an increase in intra-trade among African countries in response to recent tariff announcements by the US President, Mr Donald Trump.
Speaking in an interview with Bloomberg TV, Mr Awori noted that Mr Trump’s tariffs would replace the African Growth and Opportunity Act (AGOA), which about 30 African nations have relied on to develop export-driven industries, including textiles and apparel.
“Now more than ever we should be focusing as African countries on how do we trade more together, how do we create an easier framework for us to trade,” he said.
In 2023, sub-Saharan Africa exported $29 billion worth of goods to the U.S., making it the region’s fourth-largest market after China, the United Arab Emirates, and India.
According to him, while the US is not Africa’s biggest trading partner, the continent’s economies could still face indirect repercussions if the tariffs lead major partners like China to reduce demand for African exports.
The tariffs imposed on African nations vary widely, ranging from 10 per cent for countries like Benin, Kenya, and Cape Verde to as high as 50 per cent for Lesotho—the highest rate applied to any sovereign nation. Nigeria was hit with 14 per cent.
Mr Awori pointed out that the trade tensions reinforced the urgency for African nations to fast-track the implementation of the African Continental Free Trade Area (AfCFTA), which came into effect in October 2022.
He added that fully implementing the free trade accord and adding value to raw materials will ensure that the continent keeps “more of the benefits, creates more jobs and uplifts the lives and livelihoods of Africans.”
He emphasised that beyond tariff reductions, Africa must address non-tariff barriers such as restrictive visa policies and logistical challenges faced by landlocked countries.
The lender’s CEO noted that the new tariffs follow President Trump’s earlier decision to freeze aid to Africa, which Ecobank research suggests could push an additional six million people into extreme poverty.
By Aduragbemi Omiyale
Data from the Debt Management Office (DMO) showed that the Nigerian government used about N13.12 trillion to service the various debts in 2024.
Business Post reports that this was 68 per cent higher than the N7.8 trillion paid by Nigeria to pay interests on debts in 2023 and higher than the N12.3 trillion approved by the National Assembly for last in the 2024 Appropriation Act.
Over the weekend, the DMO revealed that the total debt of the country as of December 31, 2024, stood at N144.67 trillion versus N97.34 trillion a year earlier.
This comprised an external debt of N70.29 trillion and a domestic debt N74.38 trillion.
The agency stated that the significant increase in the debt service was due higher interest rates and increased domestic borrowing as well as rising global interest rates and the depreciation of the Naira, which has made dollar-denominated debt more expensive to service.
About N5.97 trillion was used to funds borrowed by the government from domestic investors, higher than the N5.23 trillion used for the same purpose in 2023 by 14.15 per cent, while N7.15 trillion was used for paying interest on foreign loans, higher than the N2.57 trillion in 2023 by 167 per cent.
Analysis showed that about N4.69 trillion was paid to local investors for giving the federal government money to fund the 2024 budget deficit from the sale of FGN bonds at the local capital market versus the N3.66 trillion recorded a year earlier.
Following the FGN bonds was treasury bills, which recorded the use of N747.15 billion for the payment of interest to investors compared with N326.12 billion in 2023.
Debt servicing for FGN Sukuk gulped N158.43 billion last year, the sum of N6.38 billion was used to pay interest to investors who subscribed to the monthly FGN savings bonds, and N2.18 billion was for FGN green bonds, with N265.86 billion for promissory note principal repayments.
In the 2025 budget, the federal government has allocated about N16 trillion for debt servicing.
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