Quick Loans

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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

Quick Loans allow you to borrow up to £1,500 and receive funds within 1 hour of approval. At Payday Bad Credit, we work quickly to process your application and help you receive funds in a matter of hours or on the same day. The system we use, known as FPS (faster payment system), allows us to transfer the funds faster than a standard BACS payment. Quick is not always the cheapest option, when considering loans for bad credit, you should always compare the total cost with credit alternatives available for you.


Our products are specifically bad credit loans for those individuals who may have missed some payments in the past but are ready to apply for finance and rebuild their credit scores. We are ready to take on those with adverse credit histories and instead look at your recent track record, your income, affordability and expenses to make a decision.

The online application at Payday Bad Credit takes just a few minutes to complete, and you will receive an instant decision letting you know if you have been provisionally accepted or not. There are no upfront fees for applying, and you can get started below.

What are quick loans?

Quick loans are short-term loans designed to provide you with the funds you need quickly and easily. They are typically unsecured, meaning that they do not require collateral such as a car or house. Quick loans can be used for any purpose, from covering an unexpected expense to consolidating debt. The repayment terms of quick loans vary depending on the lender, but they usually range from 1 to 12 months.

What can I use quick loans for?

Quick loans are designed to help people pay for immediate and emergency expenses. Whilst we always put money away for a rainy day, we never know when we are going to need money fast. When you are running a household, a car and having children, there are plenty of expenses that come from out of the blue, including home repairs, urgent plumbing, broken down cars, doctor bills and more.

Sometimes we need just a little extra money to see us through the month, and this is where a quick loan can help. No need to worry how you are going to make it to the end of the week – you are able to borrow a few hundred pounds to restore some order and give you some breathing space. Successful applications have the money transferred to your bank account in one lump sum so that you can use the funds and pay for your expense immediately. Simple.

How do quick payday loans work?

Payday loans provide you with much-needed income until you receive your salary from work, known as your payday. So whilst many people will be waiting for payday to get their next paycheque from work, you can access the money faster through a quick loan and then pay interest for the duration of the loan term.

Traditional payday loans were typically used within 2 to 4 weeks, whereby customers would borrow the money and then repay on their next pay date. The average sum borrowed was £200, and customers would commonly repay £240-£260.

Following FCA regulations, recent changes have moved lenders away from the traditional payday model to a more instalment loan product. Quick payday loans today are more likely to be repaid over 3 – 9 months, giving customers much-needed breathing space and the ability to repay loans with smaller payments over a longer period.


How can you speed up the application?

Lenders are always required to carry out checks before funding a loan, and therefore they require at least 1 hour before being able to transfer funds. However, there are some things you can do to speed up the application process:

Have your details ready: Your loan application always starts with filling in some information online, which you can do by clicking on ‘apply now.’ You can make sure that you have your details ready when filling in the Payday Bad Credit application form. Information required includes your monthly income, expenses and bank details so that the lender knows where to send the money to. You can avoid scrambling through papers and instead have your information at hand and ready to go.

Make sure you meet the criteria: At Payday Bad Credit, we require applicants to be over 18, living and working in the UK and in employment. If you are unemployed, on benefits and have no income, this will inhibit your chances of being accepted. So making sure you meet the basic criteria is key to making the next stage of the application.

Provide accurate information: To make sure that your application runs smoothly, it is essential that you provide accurate information. Discrepancies in your details will result in the slowing down of your application process.

You have peace of mind that our website is secure, and we hold your information confidentially, so you can enter your correct details and get your application processed as fast as possible.

Make yourself available: Once your application is processed, we may have some additional questions for you. We may also request proof of income or a utility bill to show proof of address. To truly speed up your application, you should be in front of a screen and near your phone so that you can answer any questions by phone, complete the online loan agreement and electronically sign the form. If you make an application whilst at work or on the go, it may slow you down, and you may have to wait before taking the next steps.

Keep your credit file clean: Whilst this might take a bit of time, there are ways to tidy up your credit record to make it more attractive for a prospective lender. Of course, we cater for quick loans for bad credit, but a good credit score will always maximise your chances of approval and help you get access to the best rates.

If you can access your credit file using Experian, Credit Karma or Equifax, you can make some quick changes and see how your credit score improves. This includes joining the electoral roll and closing down any store cards or credit cards that you do not use.

How soon can funds be in my account?

If your application is successful, we can typically transfer funds to your bank account within 1-2 hours.

We will run several checks to determine your eligibility. Although we may request further information (payslips, bank statements) and request a phone call to confirm details, your loan can still be completed and transferred on the same day of applying.

We understand that if you need money for an emergency, you need it quickly. We have processes set up to ensure a fast transfer.


Will I need a credit check to get a quick loan?

Yes, we will need to perform a credit check as part of our responsible lending policy. We use the latest technology to ensure that your data is secure and your credit score is not affected by applying for a loan with us. We understand that you may have bad credit, but we still want to help you get access to the funds you need quickly and easily.

Are quick cash loans with bad credit more expensive?

With some lenders, having bad credit may mean your loan will be more expensive. However, at Payday Bad Credit, we do not charge a penny more if you have bad credit or want your loan faster. So whether you have a good credit score or bad credit score, or anything in between, we will fund your loan within 1 hour of approval and at no difference in cost!

Why must fast loan applicants undergo affordability checks?

Before lending to a customer, it’s important to check that they can afford the loan repayments. As a responsible, fast loan direct lender, we make sure not to lend to anyone who may have problems paying back the loan. Not being able to afford the loan repayments will inevitably result in deeper debt than before taking out the loan.

Can I apply for a quick loan online with Payday Bad Credit?

Yes! You can apply with Payday Bad Credit for our quick loans online. Our form only takes a few minutes to fill, and there are no upfront fees for applying. Our commitment to responsible lending means that we treat customer data very seriously. Furthermore, we will endeavour to fund your loan directly. However, if we are not able to help you with your application, we will only forward your application to other lenders with your permission.

For any questions relating to our products, please contact us here.

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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%, 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