New Payday Lenders

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Representative example: Borrow £700 for 6 months. 1st monthly repayment of £168.45 , 4 monthly repayments of £224.60 , last monthly repayment of £112.20. Total repayment of £1,179.05. Interest Rate p.a. (fixed) 185.39%. Representative APR 611.74%.

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

Payday Bad Credit is a new payday lender and is proud to be offering new payday loans in 2022. We are part of an established finance group based in London and we specialise in offering loans for people with bad credit ranging from £300 to £1,500 repaid over 3 to 9 months.

We understand that people might be looking for new payday loans companies as a way of getting better rates or finding alternatives to traditional loans. There is a lot of bad press out there for existing lenders and finding someone new under stricter FCA regulation can offer a breath of fresh air and a more suitable loan for your requirements.

Apply Now In Less Than 5 Min

Simply click on the apply now button and you will be taken to our application form. Complete your details in under 5 minutes and you will receive an instant decision letting you know if you have been accepted or not. We are a direct lender, but in the event that we can’t offer you a loan, with your permission, we can recommend similar lenders or alternative products which are most likely to approve your loan. There are no upfront fees for applying and if successful, you loan will be funded in 1 hour.



How Payday Bad Credit is Different

Payday Bad Credit specialises in assisting those with less than perfect credit scores, including history of default, arrears, CCJ and IVA. We know that keeping a clean credit score is not always easy, especially with increasing living costs and unexpected emergencies that can pop up at any time. Whether it is a broken boiler, car repairs or something breaks at home, you sometimes need a few hundred pounds to get life back on track – but payday can be just too far away.

Borrowing money online allows you to receive funds within 15 minutes to 1 hour provided that you have passed our credit and affordability checks that ensure that you can afford to repay your loan on time, without falling into financial difficulty.

There are no guarantors required to be eligible, meaning that you do not have to get an extra person you know to co-sign your loan agreement and you can apply directly with us as your lender.

As a new payday loans lender, we come to the market with a fresh take on underwriting and funding loans. Using new and different technology, we are able to review all kinds of different credit histories and help find the loan they need. If you are not successful, you have peace of mind knowing that you will not be charged any fees and we will still be able to match you with one of our partnered lenders who can offer you a loan.



Funded in 1 Hour

Funding in 1 hour with Payday Bad CreditOnce approved you will normally receive your funds into your bank account in 1 hour or the same day.

Direct Lender

Payday Bad Credit is a direct lenderWe are a direct lender only, we will not pass on your information to any other third parties without your full consent

All credit considered

Payday Bad Credit welcome bad creditWe welcome loan applications from UK individuals with a bad credit rating or a poor credit score.

No Guarantor Required

No guarantor required with Payday Bad CreditEach application is considered on its own merits and no guarantor is required for your loan.

Five Star Service

Payday Bad Credit provides a 5-star serviceOur mission is to provide a 5-star service to our clients, from initial application to final payment.

New Payday Lenders Not Brokers

When you apply with Payday Bad Credit, you will be making an application directly with us and our in-house team and not be automatically sent through a broker. The last thing you want is to be sent hundreds of emails and text messages from random companies. We will always try our best to offer you a payday loan – and if we cannot assist, you can activate our free brokerage service where we will pass your details onto a partner company who is fully authorised by the FCA and will treat your application with the utmost confidentiality.


Apply With a New Payday Lender

To apply with Payday Bad Credit, simply click on the apply now button below and you will be taken directly to our application form where you can get started. You will be asked to fill in few details including your name, age, residence, income, employment and bank details (so we know where to send the funds). Each applicant will be subject to a credit check so we can ensure that you are suitable for our loans and other requirements include:

  • Over 18+
  • UK resident
  • Valid current account, mobile number and email address (so you can be contacted)
  • Employed (part-time or full time)
  • Able to make monthly repayments

Apply Now In Less Than 5 Min

What Rules Are There For New Payday Loans Companies?

Whilst the industry has always been subject to criticism, it has improved significantly in recent years and this has seen various payday lenders shut down and far better treatment and products for customers. The main things that new lenders must adhere to are:

  • Strict FCA regulation
  • Daily price cap of 0.8% (£24 per £100 borrowed)
  • Default fees capped at £10 over the life of the loan
  • Responsible lending

With strong regulatory framework in place, payday lenders in 2022 must following strict guidelines. For instance, they cannot charge more than 0.8% interest per day and this has led to even more companies trying to offer lower, competitive rates. In the event of a default, lenders can only charge a one-off fee of £10 and most lenders used to charged £30 to £100 for a missed payment.

Above all, lenders must be committed to responsible lending which you can read about here. This means that treating customers fairly and offering responsible practices is at the forefront of the company’s culture and everything they do. Customers should only receive funds if they can afford to repay them and they must be offered forbearance and help if they cannot meet repayments.

Apply Now In Less Than 5 Min

Representative example:

Borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, last monthly repayment of £112.20. Total repayment of £1,179.05. Interest Rate p.a. (fixed) 185.39%, RAPR 611.74%. Our APR includes all applicable fees. Daily interest is capped at 0.798%.

Payday Bad Credit is a trading style of Western Circle Limited – Company Registration Number: 7581337. We are fully authorised and regulated by The Financial Conduct Authority.
FCA full permission license: 714479
ICO Registration Number: Z3305234

Payday Bad Credit terms and conditions apply.

Applicants must be 18 or over. All loans are subject to affordability, applicant verification and traditional credit checks via various national databases by Payday Bad Credit responsible lending policy. Loan limit maximum of £1,500.

In most cases, loan decisions may take up to 30 minutes during office working hours.
If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 16:30.

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