Short-term loan calculator

How much would you like to borrow?

$

This field is required and the value should be a number.

Interest Rate This field is required and the value should be a number.

The interest rate of a loan will vary based on your credit score and risk profile.

Repayment Term

Day / Months / Years months years

Calculate

This short-term loan calculator is for illustration purposes only.
The use of this loan calculator is subject to our terms of use.

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Lending Room – fast loan application & instant approval

Before completing the loan application form, it is highly beneficial to review the loan types available, as well as go through the information provided on the Lending Room’s website.

They offer very helpful and accurate loan calculators that can assist customers in selecting a loan amount they can comfortably afford to repay. Taking out a personal loan that is unaffordable may lead to defaulting on the loan, which could result in hefty penalty fees. The Lending Room endeavors to help applicants compile a credit application that will increase their chances of approval and secure the best rates from their panel of lenders. They will, where possible, suggest adjustments and make recommendations to assist with this.

Why You Should Use the Lending Room

Applying for a loan at the Lending Room is a straightforward, simple, and quick process, which can be completed in just a few minutes. They offer unsecured and secured short-term loans and can likely find a lender to help, even for those with a bad credit history. Generally people with bad credit often struggle to get approved and may submit multiple applications, which negatively affect their credit scores and leave them discouraged.

By applying through the Lending Room, customers have a much higher chance of finding a lender willing to work around a bad credit history and offer a decent rate. For those applying for a cash advance or payday loan, they may even be able to provide an offer and advance the cash on the same day.

Applying for a Loan - New and Existing Customers

When applying for a personal loan as a new customer, applicants will need to provide personal details, contact information, proof of address, acceptable identification, employment information, a basic budget, and a few other details. Once the Lending Room receives the application, they will verify the details and check the applicant’s credit history before forwarding the completed application to their panel of lenders.

This entire process is done online, and there is no need to visit a store or complete complex paperwork. If they are unable to find a suitable loan, they may ask for a guarantor or recommend opting for a secured loan. For existing customers, applying for a loan is even easier and can be done simply by sending a text message with the unique code provided after successfully applying for the first loan.