Your Personal Finance Questions – Now that Provident is closing, where can I get a short term loan?

0


Q I have been a Provident customer for many years. He recently announced that he would no longer provide loans in Ireland. Where can I go now to get a loan because I rely on Provident every year to help me pay back to school fees?

Your best bet is to contact your local credit union where you can become a member immediately. Credit unions offer loans of all sizes to meet your financial needs and are a great way to build up your credit history.

The cost of credit is also considerably cheaper than borrowing from an approved lender such as Provident, according to Paul Bailey of the Irish League of Credit Unions. For example, on a loan of € 500 over six months you will pay around € 15 in interest against € 150 in interest from a licensed loan shark, on the same amount over the same period.


Share.

About Author

Leave A Reply