TxtLoan (or Txt Loan) is a unique payday loan lender headed by Gert Koppel. In actual fact, calling this loan product a payday loan may be a tad misleading. You will be provided with an instant cash loan to the value of £100 paid back in 15 days from this inventive “txt loan” provider. The interest charged for this loan will be £17 (17%) for this specific 15 day loan term; this shorter loan term of course reduces the interest and so would be ideal for any of us only requiring the loan for a smaller period of time. Existing customers can apply for much larger cash amounts once they have paid back loans and worked their way up the levels. With TxtLoan, you simply have to sign up with them with your mobile phone, follow their instructions to confirm the loan agreement and the money will be sent to your bank account in minutes. You can apply from your computer or from your phone.

I personally used TxtLoan recently to test them out and I have found their service to be excellent. I received the loan at great speed and once the loan had been taken after the 15 days, I was automatically approved for another loan that could be transferred in minutes. A few loans later and I had moved up a level for the amount of credit I could instantly receive. The communication by txt is impressive with them for example letting you know when your bank received the funds. This is a no fax cash loan that is designed to be a super-speedy loan solution. A credit check will be carried out and as I believe, they expect a take home pay of £400 per month and if you have been made bankrupt or have been involved in debt collection within the last 18 months then you won’t be accepted. Just to add that the design of the TxtLoan site is fantastic in the orange and white theme. I use both TxtLoan and Wonga personally and do feel that these are two of the most impressive lenders around today.

Charges for a £100 Loan (15 day term only):
Charges: £17/£100 interest + £0 transfer fee

(tags: best txt loans, mobile phone loans, text loans, txt a loan, txt loan review)