Small Loans

£50 £2,000
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due Thursday 07th Jul
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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.

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We know finding small loans online when you’re short on funds can leave you overwhelmed by choice. There are multiple small loan companies out there who can help, so 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 lending approach that makes us different from other small loan companies. If you want a loan under £2,000 and the flexibility to repay weekly or monthly for up to 12 months, then click apply now and we can give you an instant decision.

What are Small Loans Online?

Small loans online 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. Typically, small cash loans are for amounts no more than £2,000 compared to other forms of lending and means repayments can be low depending on how long you choose to spread the term. At Fast Loan UK, we provide flexibility when it comes to small instant loans to help our customers get what they need with a choice on how they want to repay. Whether you prefer to clear the balance in one payment, payback weekly or monthly, we have terms that will match your requirements. Much like our short term loans, we provide a quick decision on whether we can lend to you, so you’re not left waiting on whether we can help. Once you’ve clicked apply now and told us how much you want to borrow, we can then provide a decision in principle instantly.

We work differently to other small loan companies by being able to help many more people as we focus on what you can afford to pay rather than just your credit history. Having a credit check is an important part of the small loans process through us, however, it’s not the only factor in us being able to help our customers. If we can see proof of your ability to pay, even if you have a bad credit history and have been declined by other 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 assure we base our decisions on the full picture of your finances, rather than a computer-generated lending decision, and still provide small loans fast.

How to Apply for Small Loans Fast

An application for small loans online through us has been developed to provide convenience and make things as easy possible so you can receive the money you need quickly. Once you have clicked apply now and provided us with the loan amount you want and terms, we’ll provide a quick decision in principle so that you know if the loan is something we can help with. Then your personal Customer Care Manager will contact you depending on the information they need. Normally this should take no longer than 5 minutes to complete and is a quick chat about your finances. Often, they may already have enough information from our Credit Reference Agencies (CRAs) and won’t need to contact you. Once we have conducted our assessment of your finances and run a credit check, we’ll send you a small loans digital agreement to sign if everything is approved. Once you have signed this via your mobile, tablet or computer and we have received it back, we will then send the agreed funds to your bank account in just 15 minutes.

Eligibility for Small Loans Online

To be eligible to apply, you will need to meet the following criteria first:

  • Aged 18 years or over
  • 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 pay small cash loans. Any questions? Please get in touch, and if you’re ready to complete an application, click apply now.

Small Cash Loans FAQs

How Do Repayments Work with Small Payday Loans?

Similarly to other online direct lenders, we arrange repayment by setting up a continuous payment authority (CPA). This 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 the small cash loans payment is due. To help, we will 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 Instant Loans Amount I Can Borrow?

If it’s your first time applying for small payday 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 apply again, we can help you borrow up to £2,000. Similarly, with the repayment terms, for new customers, a maximum of 8 months (241 days) can be agreed for small payday loans, with returning trusted customers allowed to spread up to 12 months (365 days). Whilst our small instant loans allow you to spread over a longer period compared to other small loans companies, we do not encourage customers to borrow for longer than they need to, as well as only apply for the amount you need rather than the maximum available.

Do I Require to Have a Credit Check for Small Loans Online?

Yes, we will need to run credit checks as part of your application for small loans online, but your credit history and score will not be the only deciding factor in your small payday loans application. We will run a soft search to approve you in principle and this will not show on your credit file. Once we have determined your eligibility, we will then run a hard search through a CRA that will appear on your credit file.

Can I Get Small Loans with Bad Credit?

Yes, we have helped those with varying credit histories apply for a small loan when they need it. 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.

Who is Best for Small Loans?

A small loan can be ideal for many different people and circumstances when you need money fast. If you don’t need to borrow a large amount that is typical of a personal loan, small loans enable you to borrow much less than £1,000 to cover a short term expense. This way you can borrow and repay over a shorter period too, for example, 3 months. If you’d rather not use a credit card or overdraft facility, a small loan can be an ideal alternative with affordable repayments.

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.

Can I Get Small Loans with a Guarantor?

There is no requirement to provide a guarantor when applying for small loans through us. As we can help those with a poor credit history, this means you can apply with no guarantor and be considered.

Can I See How Much a Small Loan Will Cost Before Applying?

Yes, you can use our loan calculator and adjust the sliders to see how much the loan amount and repayments will cost. Just choose the frequency of repayment, whether weekly or monthly, and you’ll see an approximate total amount payable as well as the repayments required. When you are ready to begin an application, click apply now.

When Will I Receive the Small Loans Amount?

Once approved for a small loan, we work quickly to process the transfer of payment 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. Many people have received the cash to use within 10 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 get in contact with 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.