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Small Loans

CHECK RATES
Representative Example:

Borrow £650 for 6 Months, 5 monthly Repayments of £190.25 and one last repayment of £190.10. Total repayment £1141.35. Interest Rate PA (fixed) 226.70%, Representative APR 697.94%.
All our loans are available for a duration of 3 to 6 month.

Warning:

Late repayments can cause you serious money problems. For help, go to moneyadviceservice.org.uk.

Small loans in the UK, sometimes known as ‘little loans’ are small personal short term finance arrangements. These loans are short term loans for financial emergencies. Small loans help borrowers pay for expenses like car repairs and unexpected bills. We are an FCA regulated direct lender of small loans online in the UK, from £300.

 

How do Small Loans in the UK Work?

Applying with us is straightforward and no guarantor is necessary. Simply fill in the required information and we will check your eligibility. We can provide you with an instant decision. Once approved, we can fund your loan on the same day, paid into a nominated bank account. Many UK lenders don’t let borrowers apply for truly little loans and predetermine what you can borrow, which may be higher than you need.

Apply today for a £300 to £1,000. We consider all applications and our friendly UK based team will be happy to assist.

Small Loans for Bad Credit

Small loans for bad credit are an important type of short term loan. They allow UK applicants with less than perfect credit histories to get the money they may otherwise not be able to acquire. Just because you have had past financial troubles, doesn’t mean you should not be able to get the money you may desperately need. Having bad credit can also mean borrowers may be more responsible in the future. More aware of limitations and how much they can afford from past experiences, can make borrowers more sensible with future small loans.

What are Small Loans Used For?

As with other forms of short term loan, there are many uses for small loans. They are generally designed to get you out of a financial rut and immediate debt. Common uses of small loans include:

Unexpected Bills – If an unexpected bill such as a credit card arrives when you cannot afford it, you may still need to make minimum payment towards the total owed. Missing payments will damage your credit rating and chances of future loans. Thus, these payments are priority payments. A small loan can give you breathing room to pay your minimum payment as you get your finances together.

Emergency Repairs – It may be your vehicle, boiler, a leaky roof or otherwise. Whatever emergency repair you need doing, it is important you get it fixed as soon as you can. In the case of your vehicle, you may need it to commute. A boiler or home emergency is likely to require immediate attention to keep you and your family warm and healthy, particularly through the winter months.

Nowhere Else to Turn – You may have asked friends and family to lend you money but they are unable to. It may be embarrassing to ask for financial help from those nearest and dearest to you. We provide applicants and customers with privacy and discretion. We understand you may want to keep your financial affairs separate from your family and social life.

 
apply-now for a loan with Payday Bad Credit

Am I Eligible for a Small Loan?

We consider all applications, including from people with bad credit, County Court Judgements (CCJ) and financial issues from the past. There are a few basic criteria which will give you a better chance of acceptance and you should consider them before you apply:

  • Be over 18 years of age
  • Permanent UK resident
  • Have a UK current account
  • Have a UK address
  • Be in some form of employment in the UK

£200 Loans and £300 Loans

We all fall upon hard times at some time in our lives. How you deal with these times is what counts and keeping your head above the water is key in all circumstances. Many people in the UK turn to £200 loans and £300 loans. These are common amounts required to pay off a minimum payment commitment, sufficient for the immediate term. Although small loans in the UK vary in their amounts, generally, a few hundred pounds constitutes a small loan.

We are a direct lender, with no guarantor needed and immediate decisions on our loans. We also allow our loans to be repaid over a longer period of time (a few months) so that you are better able to afford the loan acquired.

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How do Small Loans Online Work?

Rather than having to apply with a lender who lends you minimum amounts which are more than you may actually need, we have an easy to navigate online application process. Our process is straightforward, allowing you to apply for a small loan from the comfort and privacy of your home.

Shopping around for smaller loans can be tedious, with high street lenders and banks unlikely to lend such seemingly small amounts. We know the big difference such amounts can make to your financial circumstances. All we need is some basic details about you and we can give you a quick decision whether you are eligible for a loan. If we cannot offer you the loan you need, we work with a panel of FCA authorised lenders who may be more suitable for you.

What is the Difference Between Small Loans and Payday Loans?

Small loans and payday loans are similar to each other in many cases, whether they come from a direct lender in the UK or a broker. Usually, these loans, including payday loans for bad credit, work by the lender providing an approved amount in a single payment to the borrower. The borrower will then repay the money [the loan capital] plus interest by a particular due date. The two parties will agree on the repayment dates.

Some small loans in the UK can provide a short term credit facility where a facility is granted to the borrower. Much like a credit card, the borrower can draw down [withdraw] as much or as little as they require it. The borrower can do this on a recurring basis; only repaying what is actually taken out. Our loans function as traditional loans. This means you get the money in your account upon approval and simply need to repay your loan amount over the agreed time-frame.

Are Little Loans More Expensive?

Generally, the smaller the loan the more expensive it may be. However, with Payday Bad Credit, our little loans do not work out more expensive than the larger loans. We have a representative APR of 697.94% on all our loans, no matter the size.

Apply for Small Loans Online

We offer loans from as little as £300. With no guarantor needed. Instant decisions on applications and same day funding via BACS are available. You can repay your small loan over 3, 4, 5 or 6 months and you can even repay early with no penalty fees.

Representative example:

Borrow £650 for 6 Months, 5 monthly Repayments of £190.25 and one last repayment of £190.10. Total repayment £1141.35. Interest Rate PA (fixed) 226.70%, Representative APR 697.94%.
All our loans are available for a duration of 3 to 6 month.

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 £1,000.

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.