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What is SMS Loan?

An SMS loan is relatively a small credit source to borrow where the process takes less time to complete in comparison to the standard loan options. As a borrower, you just have to send a text message to the lender, if you are already registered, to apply for the loans. Once received your request, lender replies with a loan message within a few minutes or it may revert on your email.

In contrast to the regular bank loan, it is much faster in process and just personal information on the application form can approve a loan for you.

SMS loan is indeed an ideal option when you have a need of getting money fast and that need occurred due to a financial emergency. Many SMS loan lenders in Sweden have the facility of direct payments that makes the way for getting funds on an instant basis or we should say within a few hours.

The duration of the loan varies from lender to lender but Sweden Loans usually provides it for 30-90 days and in specific circumstances, we also offer interest- free SMS loans for the first 14-30 days. There is no doubt that interest rates do affect the total cost of applying for loans. Generally, small loans have the high interest rates than longer durability but we will take care of your circumstances before deciding SMS loan interest rate.

Are there any risks involved while taking SMS Loans?

Every loan option has some risks for the borrowers. However, it does not signify that you have to be very doubtful on the loans. They do help in a significant way. Pointing on the risks, here are the possible ones:


Possible Risks Involved Ways to Reduce the Risks
  • You don’t have the option of choosing a longer repayment term without any extra charges.
  • Extending SMS loan term may invite specific fee and slightly higher interest rates.
  • Repaying on each month may disturb your financial balance and you may have to take another loan to pay the existing one.
  • Go through all the terms and conditions before signing the loan contract.
  • Do research well before choosing any loan deal and better to compare lenders before coming on to any decision.
  • Prepare a list of all earnings and expenses before finalising the loan amount.
  • Better to ask the lender if you have any confusion. It will reduce any further damage to your loan process.
  • If possible, opt for longer amount with longer-term because that won’t cost you too much in terms of interest rates.

Chance to Get SMS LOANS with Direct Payment

There must be some specific reasons why people want to opt for small loans instead of approaching bank loans. Of course, the difference in the loan process is what people take into consideration. In the bank, the approval and fund disbursal may take around 3-5 days to process while during the financial emergency, looking at SMS loans with direct payment to your account would be a wise decision.

We give you two opportunities to take the full advantage of this facility:

  • You should apply early in the week, ideally on Monday or Tuesday, so that no weekend in between and we can process loan relatively in an instant manner.
  • The best probably is to apply early in the day and if you are fortunate enough, your loan application may be approved within a single day.

Thus, the instant payout is the real reason why people want them instead of any other short term personal loan.

Apply for SMS LOANS with Payment Note

Availing SMS Loans with payment note is not a problem. But before discussion on how it will be possible, we first explain to you, WHAT IS PAYMENT NOTE?

During a situation when you have not paid a loan or given an answer to an invoice, the concerned lender will take this issue to debt collection authority. If the authority is not able to bring out the money from you, it will take your case to Kronofogden. This Enforcement Agency will then issue an order for making payment before the ordered date and time and it is what called payment note. Once received the letter, you must make the payment and improve your chances of getting funds. However, you can claim if you are not the default.

Applying for SMS loans at Sweden Loans is thus very beneficial for the borrowers because we accept their loan applications despite having payment notes against their names. You can secure money when you need it most.

Are SMS Loans without UC Possible?

In Sweden, applying for SMS loans without credit check is quite difficult. Most of the lenders do prefer to go through the past credit performance of the borrowers before granting them credits. Here, we also do credit assessment but in a much softer manner. People with a bad credit score or no credit history can easily avail our loans and approval for them will be decided on the basis of their income status.

If ‘no credit check’ is not possible, borrowers have the liberty to apply for SMS loan without UC especially when they have low credit scores. Here, UC stands for Upplysningscentralen, which is an agency in Sweden working as a credit reference agency.

Benefits of Applying:

  • Lenders are less familiar with your credit rating registered in the UC's record
  • The loan companies do not share any fresh loan detail with the UC
  • There will be no impact on your credit rating instead improvement chances are always there

Choose Sweden Loans to Get SMS Loans Quickly

In today's scenario when the loan marketplace in Sweden is rapidly becoming more reliable and responsible, you can easily trust on us to apply for SMS loans quickly. Here are the advantages with us:

  • The tedious lending procedure of the banks sometimes not suited to your financial urgency. Instead, the online procedure proves useful and providing instant monetary relief to the applicants.
  • When you apply for loans with us, you do not need to wasting time in lengthy procedure or unnecessary meetings. Just come online and apply easily by submitting a simple form or just send us a text message, we will quickly revert you with suitable loan quote.
  • If you are a first-time loan borrower with us, we may require more personal information of you but at the same time promising you that it will not take too much time.
  • Existing borrowers may also be allowed to stretch the loan amount depending upon their previous record with us.
  • Options like SMS Loans without income are also possible with us but it will require a good credit score.

These small personal loans are indeed the quick and best solution to meet an unexpected lack of money. At Sweden Loans, we enable you to use the loans correctly and bring out a practical solution to your financial needs.