Due to high interest charges Payday loans should only be used as a short term borrowing solution. If you are struggling with debt then contact the National Debtline for free advice and help.
If you have poor credit, then even borrowing a small amount from a bank or building society can be impossible. You may be rejected even for relatively small amounts, even down to just £100, and even for the short term. If you can’t get the loan that you need from a bank, then you may consider turning to a payday loan company as your only option. While most advisors would not recommend taking out a payday loan, since their interest rates are very high, when you have no other option these loans can get you the money you need without having to wait for your next wage payment.
One of the best things about payday loans is the fact that they are able to offer you relatively small amounts for your wage. If you want a £500 loan, then you can choose to get the loan in several different ways. Firstly, you can apply for a loan through a standard payday loan company. They are likely to offer you this loan for a single payment within a month from the date you receive the money, with a high percentage payment – sometimes as much as £25 for £100. You may also choose to borrow the money through a different type of payday loan, who will offer you the money for three months. You can then pay off the loan gradually through three separate paydays, allowing you more time to get the money together. This is the perfect solution if you want to be able to get a reasonable loan for a small amount, and are able to pay the amount back within a month or within three months.
There are several reasons why people are still using payday loans rather than simply relying on banks or waiting until their wages are paid. Firstly, payday loans for small amounts can be ideal if you need the money quickly, for example if you have to have emergency repairs to a car or home, or if you need an item fixed inside the property. Payday loans are faster than a bank loan, and can be agreed on the same day, which makes them extremely convenient. Bank loans are much slower, and with the risk of the application being refused, many people are not prepared to wait.
Yes. The lenders on our panel can issue £100 loans on the same day or instantly assuming your application is completed and they have all the information they need to make a quick lending decision. If you're a returning customer then your application for any further loan advances will be even quicker.
No. You will be required by all the Payday lenders in our panel who issue £100 loans to undertake a credit check and search.
Yes. All we only display direct lenders on our panel. We do not have any brokers within our short term lender panels.
Yes. The short term lenders in our panel will consider applicants who have a history of adverse credit.
Yes. All the lenders on our panel accept self employed people, including sole traders, part time works and company directors.
Yes. Our lenders will accept applicants who are working part time or casual working hours. You will however be required to provide proof of income.
No. You will be required to provide proof of income either as an employee via PAYE or you will need to provide documentary evidence if self employed, a company director or sole trader.
We work with the following short term and Payday direct lenders. Pounds to pocket, Oakam, Next credit, QuickQuid, Cash Float, Mr Lender, Wizz Cash, Piggy Bank, Satsuma Loans, Drafty, Wageme, Step One Credit, Sunny, Peachy, Uncle Buck, Ferrantum, Cash Lady, Little Loans, Lending Stream, The Money Shop, 118 118 money, My Jar, Wage Day Advance, Wonga, The Money Platform, We lend us and Morses club.
Yes. If you meet the application criteria and can afford the repayments then you can also get a loan while being a pensioner. This includes applications for older borrowers who are over 60, 65 or 70.
Yes. All the lenders on our panel will send your loan funds direct to your bank by bank transfer.
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