A New Payday Loan Website is making waves

Paydo.co.uk, a new payday loans website, is creating an online community to bring the benefits of short-term lending to a wider audience.

(1888PressRelease) April 05, 2011 - PAYDO.CO.UK SHARES THE BENEFITS OF PAYDAY LOANS WITH A NEW WEBSITE AND SOCIAL NETWORK

Paydo.co.uk, a new payday loans website, is creating an online community to bring the benefits of short-term lending to a wider audience.

Paydo.co.uk is signalling its intent to become the internet's most popular destination for those seeking payday loans. It has recently launched a new, user-friendly website featuring a simple application process and optimised to be found easily through search engines. Beyond this, it is also planning a social network to enable payday borrowers to share advice on tackling financial issues and making the most of their money.

Payday loans are small, short-term loans allowing people to borrow money up to 30 days in advance of payday. The concept has a number of benefits, which Paydo.co.uk builds on with its easy-to-use website.

Firstly: simplicity. Payday loans typically require no paperwork to complete and often have little impact on long-term finances. They can also be an excellent solution for those lacking a good credit history. Whilst some providers require credit checks, Paydo.co.uk doesn't: a bad credit rating won't factor into an application.

Secondly: speed. Payday loans allow quick, easy access to funds, as and when needed. Many providers offer a responsive online process, so no posting or faxing is required. Paydo.co.uk's website typifies this, with a simple, three-step process taking as little time as 15 minutes from application to payment.

Thirdly: security. UK payday loan advertising is regulated by the Consumer Credit (Advertisements) Regulations 2004, and the industry is monitored by the Office of Fair Trading. All payday loan providers require a Consumer Credit Licence, whilst a number of voluntary regulatory bodies are currently being proposed. Paydo.co.uk supports responsible lending by examining applicants' income to assess how much they can reasonably repay.

Because of these benefits, payday loans are one of the fastest-growing lending options in the UK. According to a Consumer Focus study, between 2006 and 2009, the number of applicants quadrupled. To satisfy this burgeoning demand, many companies now offer payday loans. Paydo.co.uk's new website, featuring its hassle-free applications process and planned payday borrower social network, will play a major part in differentiating it from the plethora of such companies as Wonga and Quikquid.

Paydo.co.uk's Marketing Director spoke about the new website: "We understand that everyday pressures don't always wait for payday and know that long-term commitments aren't always the answer, which is why our new website makes borrowing easier. Our search engine-optimised site and network should give people confidence in a simple, speedy and safe solution for their finances."

More information about Paydo.co.uk's website can be found at http://www.paydo.co.uk.

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