Warning: Late repayment can cause you serious money problems. For help, go to MoneyAdviceService.org.uk
Select Page

Which payday loan is best for people with bad credit?

Let Us Find the One for You Today!

Love Your Loan

Personalise your loan to your requirements – Loans to suit every circumstance

Read More

Online Applications

You can do your application from start to finish all online and all in just 2 minutes

Read More

Know Your Loan

Repayment statements make it easy to follow your progress – Keep on top of your plan

Read More

Lenders Facts

Loan amount
£50 - £2,000
Loan term
3 Months Only
CUSTOMERSCORES
Good
Apply Now

Show More ▼

Loan amount
£200 - £1,000
Loan term
3 - 6 Months
CUSTOMERSCORES
Excellent
Apply Now

Show More ▼

Does Small Loan Need Guarantor?

An emergency happens all the time and no matter how committed you are with your financial plans, there will be a time when you will need to rely on lenders. May it be a life-threatening disease or a car repair, these instances can wreck your budget in a snap. If you have big savings, then you’re lucky but if you don’t have, what could be your options?

You may think about a friend or another family member as your first choice when it comes to financial assistance, but what if the amount is too big or you’ve borrowed several times from them before? Moreover, what if you need it at the soonest possible time?

For such cases, a small loan is one of the fastest solutions you can consider. Its requirements are more lenient compared to banks and there’s no need to wait for a long time. Also, since the application is done online, you can have the money you need discreetly.
A small loan or mini loan offers a relatively small amount that is enough to cover basic expenses or help you tide over the month. Like payday loans, the money may be acquired in less than an hour so you can address your needs immediately. Their repayment terms are almost the same, thus you need to settle it within two weeks or more.

Like regular loans, you can get it online or by visiting their loan offices but if you have limited schedule or you just want a more convenient way, then you may apply over the Internet. The online application is almost the same as the traditional one wherein you need to provide your personal and financial details; however, there are no documents required. A short verification will be conducted through a phone call and once approved, your money will be transferred to your bank account.

Small loan lenders are very lenient and flexible in their criteria but not all applicants are successful. For instance, they failed to meet the age requirements, then their application is likely to be rejected. But still, having a guarantor in case you cannot meet their prerequisites is not necessary. A small loan involves a little amount and there’s no need for anyone to vouch or guarantee it.

Small Loan: Bad Credit Affects The Application

A credit report contains all the necessary details of the borrower like the Social Security Number, the accounts made, and the amount of each debt. Checking it is imperative especially if you’re planning to improve your credit remark. A bad credit score sends a bad impression to the lender and as a result, your application will be rejected. Therefore, after you get a copy of your free credit report, repay all the debts or inform the credit bureau for any inaccurate information entered in your account.

Even with a bad credit rating, you should still feel hopeful. There are loan options available for your needs and ways on how to increase your credit remark. While fixing your credit report, be sure to repay on time and avoid defaulting on the loan again.

Small Loan Direct Lender

A direct lender is the best option when you want fast cash; however, you may think twice when you have a bad credit. Although there are lenders who will accept your poor credit score, you still need to do a research in able to find them. Going to the lender directly may only result in rejection unless they handle your case. Thus, you need a loan broker’s assistance if you want to find a lender that will suit your preferences.

Nevertheless, a direct lender reduces the wasting time. There’s no middleman involved so they can decide at the soonest possible time. They can answer your concerns directly and not wait for any instruction. They have full control of the loan’s terms and conditions and they have the right to adjust some of them if they desire.

Benefits Of Small Loan No Guarantor

Apart from convenience, another benefit of a small loan is the accessibility. You can start your application by simply using a laptop and an Internet connection. You can do it at your own place, at the office, or in a coffee shop. Their websites are safe and protected so as long as you’re dealing with a legitimate lender, then your confidential details are safe.

As an unsecured loan, a small loan no guarantor doesn’t need any collateral; if you don’t have a property or you’re not willing to risk losing your asset, then this loan is for you. The only struggle, perhaps, is the repayment term. It needs to be settled in one lump sum and on a certain period of time. So if you want a favorable term, find a lender who will allow you to choose your own due date.

Small Loan UK: Purpose Of Small Loan Instant

Like personal loans, the small loan UK can be used for any legal activity. You can use it to finance an education or medical needs, purchase groceries or use the money for minor home improvement. If you’re planning to start a business or expand a business, you can also use the loan as a capital. There are different purposes for borrowing the loan but as much as possible, avoid using it on leisure or travel.

Having multiple debts is complicated and frustrating but you can resolve it with the help of a small loan. Once your loan is approved, utilize it for debt consolidation. Be sure to get a lender who will offer a lower interest rate than all your interest combined. Otherwise, repaying for a high-interest rate to consolidate loans is crucial.

You can use small loan instant as additional fund for events like weddings, birthdays, or anniversaries or as pocket money when traveling. The little amount is enough to cover basic needs; however, it cannot be used as a long-term financial solution. Nevertheless, it is quick and convenient, thus making it a popular loan option for many borrowers in the UK.

%

Applications Accepted

%

With Bad Credit

%

Return Customers

5 most recent personal loan reviews

Review of Funding Circle

Very quick response and good safety features. Speak to real people once the application has been logged. Very simple to fill out. Would definitely recommend Funding Circle to anyone.

Review posted by Gary Craigs, Dumfries

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Savvy

Really Great Service! Thoroughly recommend! Have dealt with several loan companies & Savvy is definitely the best, easiest, professional & they do exactly what they say unlike many other financial companies that lead you up the garden path!

Review posted by Helen Stern, Sheffield

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Capital One

I have poor credit and really needed the money to pay a court fine or be up against the magistrate again. Really helped me out and I found the charges for the credit very reasonable. Would highly recommend if your in a pinch. Great customer service and went out of their way to help get the loan out the same night I applied. Started 6pm and had money in the bank before 10pm. Great service.

Review posted by Blake Harrington, Margate

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money
All reviews have been sourced from Trust Pilot to ensure the authenticity of accounts.