The cost of borrowing £300 over 6 months:
#1
Fast Loan UK
£507.48
#2
Mr Lender
£544.00
#3
Cashasap
£556.23
#4
Lending Stream
£579.00
#5
Money Platform
£586.26
#6
Savvy
£595.00
#7
QuidMarket
£596.46
#8
Cash4unow
£599.82
#9
Fernovo
£595.92
#10
Ticket Loan
£595.92
#11
Loan Pig
£595.92
#12
Moneybag
£600.00
Proud to offer the cheapest instant short term loans in the UK
Compare our loans to other lenders here
Warning: Late repayment can cause serious money problems. For help, go to moneyhelper.org.uk
Representative example:
Borrow: £300 over 8 months. 8 repayments of £70.31. Total amount payable £562.44. Interest rate: 130.21% pa (fixed). Representative APR: 840.75%
When you don’t have the cash or savings to resolve an unexpected expense, small loans can help you repay this fast and spread the cost with affordable repayments. With many small loans direct lenders available online who can help with payday loans and short term loans, why choose Fast Loan UK?
Our small loans can provide you with an instant cash injection, even when your credit rating is less than perfect, thanks to our trusted lending approach that helps us stand out from other small loans direct lenders. If you need a loan of up to £800 as a new customer, and you afford to repay either weekly or monthly for up to 8 months, then click apply now and we can give you an instant decision.
Don’t worry if you are someone with a low credit rating, as we can help with loans for bad credit, as long as you can afford the repayments you need. If a small loan would help you today, start your application, and if approved, you could have the funds to use just 15 minutes from signing your loan agreement.
How to Apply for Small Loans
It’s simple to get started with our easy loan application process for UK small loans. This is so that, once approved, you can receive the money you need quickly without delay.
Once you have clicked apply now and told us how much you want to borrow and the repayment term length, we’ll provide a quick decision in principle so that you know if a small loan is something we can help you with. We’ll assign you a personal Customer Care Manager to oversee your application, and they will contact you if they need any additional information. This should take no longer than 5 minutes to complete if they need to call you and will be a quick chat about your finances. Most of the time they will already have enough information from the Credit Reference Agencies (CRAs) and won’t need to contact you.
Once we have performed credit and affordability checks, we’ll send you a small loans digital agreement to sign if everything is approved. Once electronically signed via your mobile, tablet or computer, we can then transfer the agreed loan funds into your bank account in just 15 minutes.
To be eligible to apply today, you will need to meet the following first:
- Be aged 18 years or over
- A current UK Resident
- Be in Full-time, Part-time or Self-Employment
- Receive a Regular Income
- Have a valid Bank Account and Debit Card
If you meet this eligibility, we are more than happy to see what we can do to provide small loans fast. As part of your application, you will need to supply additional information including proof of ID, proof of address and your last 3 months' bank statements. This is so we can confirm your identity and also fully assess your ability to sustain the small loans repayments. You can find out more about how it works here.
Small Loans for Bad Credit
Our small loans are designed to give you a quick way to fund a small expense, ideal for when something unexpected comes up like a repair bill or when emergency funding is needed to get you through an expensive situation. We can also help if you are someone with a poor credit history as we focus more so on what you can afford to pay. Typically, small cash loans are for amounts no more than £2,000, such as our £200 loans, when compared to other forms of direct lender loans. This means the repayments can be much lower depending on how long you choose to spread the term.
We’re happy to provide flexibility when it comes to our small loans for bad credit, helping our customers get the funds they need with a choice on how they want to repay. Whether you prefer to clear the balance in one payment or pay it back weekly or monthly, we have terms that will match your requirements. If you are a new customer, you can choose a maximum term of 8 months to repay, whilst returning customers can choose up to 12 month loans.
We provide a quick decision as a small loans direct lender on whether we can lend to you, so you’re not left waiting long. We understand that if you have a low credit score you may be concerned about finding a lender who can help you, but we’re happy to say we’ve helped provide small loans for bad credit for many customers. As long as you can prove you can afford the loan, there’s a good chance we can help you today.
Why Choose Fast Loan UK As Your Small Loan Direct Lenders?
We work differently from other small loans UK lenders as we can focus on what you can afford to pay rather than just your credit history. Having a credit check is a crucial part of the small loans process through us, however, it’s not the only factor in being able to help our customers.
If we can see proof of your ability to pay, even if you have a history of arrears, defaults, or even CCJs, and have been declined by other small loans direct lenders, we may still be able to help you. This is thanks to our personal approach at Fast Loan UK, by assigning every applicant a Customer Care Manager to oversee your application. This way, we can base our lending decisions on the full picture of your finances, rather than an automated decision process, and still provide small loans fast.
As a Financial Conduct Authority (FCA) authorised direct lender, we take our commitment to responsible lending seriously and always ensure the loan is affordable for you before approval. This doesn’t mean we only help those with a good credit score, however, so you can apply with confidence if you need a small loan and it’s affordable for you. We provide transparent terms and charge no hidden fees, ensuring you can see clearly what the cost of your small loan will be.
If you have any questions, please contact us and we’ll be happy to provide more information if you need it. If you’re ready to start your application, click apply now.
Small Loan FAQs
How do repayments work with small payday loans?
We’ll set up a Continuous Payment Authority (CPA) that will automatically take the amount agreed for repayment from your bank account on the scheduled repayment dates. This way, all you will need to do is ensure you have the available funds in your bank account before your small loans payment is due. We’ll send you a reminder at least 3 days before we do. If you prefer to pay by bank transfer, then please let your Customer Care Manager know and we can arrange.
Representative Example:
Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.
What’s the maximum small loans amount I can borrow?
If it’s your first time applying for small loans through us, the amount you can borrow is capped at £800. This is so we can ensure you can repay your first loan with us without issue and become a trusted borrower. Once you have repaid your first small loan and if you ever need to apply again, we welcome applications up to £2,000. You should only apply for the amount you need rather than the maximum available.
Can I get small loans for bad credit?
Yes, we have helped many people with varying credit histories apply for small loans for bad credit. As we work differently from other lenders, we consider your current finances and affordability to determine a lending decision, rather than focus on your low credit score. As long as you are not in financial difficulties and you can afford the repayments, we can look to help if you have bad credit.
Are small loans guaranteed to be approved?
No, we cannot guarantee any application will be successful. Each applicant is subject to credit and affordability checks first. This is to ensure the loan, no matter how small, is affordable and you are not in current financial difficulties. Whilst we do perform a credit check, we base our lending decision on your current finances and what you can afford to pay. Only then can we provide a lending decision.
When will I receive the small loans amount?
Once approved for a small loan, we work quickly to transfer the funds to your bank account. You’ll be sent your credit agreement to sign digitally, and once complete, you’ll be sent the funds the same day where possible. Many people have received the cash to use within 15 minutes of signing, as long as your bank supports the Faster Payments System (FPS). Please note, depending on if you have applied within business hours, this may not be processed until the following working day.
Can I repay a small loan early?
Yes, if you can afford to repay the outstanding balance earlier than the repayment schedule, we can help. Just contact your Customer Care Manager and we’ll provide an early settlement figure. You will only be charged interest for the days you borrowed and will be subject to an early settlement fee of £10.