1 Week Loan Alternatives

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Representative 49.9% APR

Representative example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. Rates from 45.3% APR to 1721% APR - your no-obligation quote and APR will be based on your personal circumstances. The minimum repayment period for any loan will be 90 days from the date the loan is issued. The maximum repayment period is 3 years.

We are a credit broker, not a lender

If payday seems far away and an unexpected bill comes through the door, it’s easy to panic. But there are plenty of ways to generate some quick cash, and if selling unwanted items or borrowing money from friends isn’t an option for you, you can always apply for a short-term loan.

Although some lenders lend loans for just 7 days, not many do. ThisLender only offers loans over three months up to 36 months. It’s important to be aware that 7 days loans, also known as payday loans are expensive and are not the best option for many.

1 Week Loans

What is a 1 week loan?

A 1 week loan is a short-term finance solution you must repay within one week. These types of loans are handy if you need money quickly and you don’t have any other options. They should always be a last resort as these short-term loans can be pretty expensive.

Do 1 week loans exist?

There aren’t many lenders that offer 7 day loans, but you can apply for a loan you repay in a short time period, such as three or twelve months. You can repay your short-term loan in seven days if you wish but be warned there could be an early repayment fee.

You’ll have many more lenders to choose from by applying for a three month loan, and you can spread the cost of repayments over a slightly longer period, making the loan more affordable.

Can I get a 1 week loan if I have bad credit?

Lenders welcome applications from all borrowers, particularly those with bad credit. Lenders will consider you for a short-term loan if you can show you have regular income and proof of employment.

Even though you can apply for a 7 day loan with bad credit, that doesn’t mean you should look to improve your credit score. Improving your credit score will mean you have better choices regarding future financing options. Here are some tips to improve your credit score.

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Access from £50 to £5000

Are credit checks required for 1 week loans?

Credit checks are required for all loans, regardless of how long you take them out for. This is because it is the lender’s responsibility to check if you can realistically afford to repay the loan and interest in full.

When you apply for a loan through ThisLender, we will not perform a credit check, but our lenders will complete a soft search when assessing your eligibility for a loan — this is a credit check that will not show up on your credit file. After you’ve chosen a specific lender to apply through, then the lender will perform a hard credit check.

Getting a quote with us will not affect your credit score.

Am I eligible for 1 week loan?

You’re eligible to apply for a 7 day loan if you meet the following basic criteria:

  • You’re over the age of 18
  • You have a UK bank account with a debit card
  • Employed with regular income
  • You’re NOT bankrupt

Remember, at ThisLender, our lenders do not offer borrowers 1 week loans, but you can apply for a three month loan easily and repay quickly.

What are the benefits of 1 week loans?

With a 7 day payday loan, you can access the money quickly, and there are no restrictions on how you can spend the money. Spend it on whatever you like, but many use it to pay for emergency expenses, e.g. unforeseen car repairs.

Are there any risks when you take out a 1 week loan?

There are always risks involved when applying for any kind of loan, but short-term finance, in particular, can be expensive. That’s why we don’t offer the chance to apply for a 1 week loan. Instead, you can secure a short-term loan and repay it over a longer period, such as three month, which makes it more affordable for the borrower.

Before applying for a short-term loan, you should look to friends or family members for cash. If you default on your repayments, it can affect your credit score, so always consider it carefully.

If you’re struggling with debt and need unbiased advice visit Money Helper.

How do I get a 1 week loan from a direct lender?

Although very uncommon, a direct lender may be able to offer a 1 week loan. To find one, you’re best approaching a lender directly and applying through their website. Alternatively, if you’re looking for a three month loan, we can help match you to a lender in one place.

Use our free online loan finding service, and we’ll match you to a suitable lender, saving you time otherwise spent researching and comparing lenders individually.

Get your loan quote today

Access from £50 to £5000

Can you pay back a payday loan in 1 week?

You always have the option to repay your loan early, but you should keep an eye out for any early repayment charges (ERCs). If your lender has an ERC in place, you’ll be able to find out in the loan terms and conditions.

If you're not sure, just ask your lender.

Is a 7 day payday loan right for me?

A 7 day loan is an expensive short-term loan option. If you’re desperate for fast cash, you can still apply for a three month loan and see money in your account within 10 minutes² after approval.

Remember to approach friends and family or sell items you no longer need or use to generate some quick cash. This is much cheaper than applying for a short term loan or payday loan.

If you do decide a one week loan is right for you, always make sure you can realistically afford to repay the loan in such a short period of time.

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Why choose ThisLender for 1 week loan alternatives?

We’re loan brokers, which means our service is 100% free for consumers like you. We can match you with the right lender for your borrowing needs, and you can decide whether to go ahead with the offer or not. There’s absolutely no obligation to accept any of the quotes our lenders send you.

We can help you find loans from £50 to £5,000 with flexible repayment options from just three months to 36 months.

Where do I go for help if I’m in financial difficulty?

If you are having financial difficulties or need to speak to someone regarding your financial situation before applying for a loan you can get free and confidential advice from MoneyHelper (formerly The Money Advice Service), National Debtline or debt charity StepChange.

Get your free loan quote today

Access from £50 to £5,000

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Representative 49.9% APR

Representative example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. Rates from 45.3% APR to 1721% APR - your no-obligation quote and APR will be based on your personal circumstances. The minimum repayment period for any loan will be 90 days from the date the loan is issued. The maximum repayment period is 3 years.

We are a credit broker, not a lender.

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