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Drafty Loans @

Drafty Loans
Drafty is a fresh new brand for the 2016 year operating from This service delivers market leading short term loan rates and a high level of flexibility. The creators are Lending Stream who themselves have been actively trading since the year 2008. Competitive pricing has been seen in another freshly launched firm in Sunshine Credit who charge just £12 per £100 for their monthly (30 day) loans. Drafty’s costs are impressively twice as cheap with a minor service fee to pay of just £5.40. Flexibility is also a key feature with there being no fixed time to make the full repayment although it is better to settle within a few months.

As suggested by the name, this service is designed in the same manner of a banking overdraft facility. An initial limit will be determined between £200 and £3000. Existing customers can eventually have access to as much as £5000. Regardless of the credit limit, interest at 0.18% daily is only charged on the money that you request. An initial draw of £50 will be required, but you’ll then be able to opt for small £20 draws. Once approved on a contract a customer can access more funding through the Drafty login without having to re-apply. If there are ever any technical issues then their support team can be reached 7 days a week between 7am and 10pm.

Based on the top value on offer here the approval rates will be lower in comparison to Lending Stream. On that side they for instance ask for a minimum wage of £400 whilst the minimum here is £1250. There is a further note that self-employed applicants will be declined. Due to the small amount of time that this project has been active, it will take some time for service feedback to start filtering through, but their Alexa ranking and Google search data suggests that they are gathering pace quickly. Will they receive as much as a kick as Lending Stream does though? LS is of course one of the most visible loan brands advertised online and on TV.

The direction taken will fall in the hands of Stream’s owner Global Analytics Holdings Inc. They had a past project by the name of Zebit that started out as a pre-paid card with an option to alternatively take out money. This later changed minus the card, but even still it would soon close. The Drafty loans are designed much better though and so they have the chance to make a big impact this time and perhaps even tempt people away from using overdrafts. It would be interesting to see subprime users catered at a higher rate. As it stands, you’d be best heading to SafetyNet Credit for a line of credit with a low score.

Pricing Examples…
£1.26 /£100 (7)
£5.40 /£100 (30)
£48.60 /£300 (3)
£97.20 /£300 (6)
£657 /£1000 (12)

Data Taken from August 2016.