Text loans are another kind of payday loan; You can simply use your mobile phone in order to receive a loan. The loan amount varies from lender to lender but you can borrow as little as £50 and maybe entitled to receive up to £1000.
To be eligible for a text loan you must:
Be over the age of 18.
Have a regular form of income; this can be from part or full time employment; some lenders may accept you if you are in receipt of benefits.
Be a UK citizen.
Hold a valid bank account that accepts direct debits.
If you have met the criteria as we mentioned above then you will be eligible for a text loan.
You will first have to visit a website like http://www.textloanlenders.com/
Once you have completed the lenders registration procedure, the lender will then text you a unique PIN number, this is number is for you to use when you want your loan deposited in to your account.