What is a payday loan?

A payday loan is a small cash allowance designed to tide you over until your next payday. These cash loans are typically approved on the day that you apply and are repaid in manageable instalments with fixed interest rates, which are usually relatively high.

High cost short term loans like payday loans, often offer credit in small amounts up to £1,500 and are best used to meet a one-off unexpected expense or rectify a temporary financial shortfall before payday comes. For example, what would happen if your car broke down and you needed it for work, but couldn’t cover the repair bill right away? Dental work, school trips, and broken-down household appliances are all among the other common uses for these types of loans. They can be a financial lifesaver when you’re caught short.

We started offering short term loans to provide access to a quick solution for those who need emergency cash. Our loans are easy and quick to apply for online and we’ll even consider approving you for one of our flexible loans if you’re credit record isn’t perfect.

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Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative APR 1,267.9%. 

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