Small Loans UK - Borrow £50 to £5,000^†

When you apply to borrow money, it doesn’t always have to be for huge amounts. Sometimes, you might just need a bit of extra cash to tide you through the month, and in this situation - we can help.

Our small loans give UK customers the option to take out finance for the short term, only borrowing as much as they actually need.

With options from £50 available, you can tackle whatever small expense crops up immediately, and pay back the money over a repayment term that suits you. We help to arrange small loans online from 3 - 36 months.

Borrowing a small amount of money shouldn’t be complicated, so we aim to keep it as simple as possible for our customers. If you already know how much you need, you can go right on ahead and apply, or use our guide below to learn more about small loans.

Getting a small loan:

• What amount is considered a small loan?
• How can I get a small loan in the UK?
• Am I eligible to apply for a small loan online?
• Do you offer small loans without credit checks?
• How do small personal loans for bad credit work?
• What are the advantages of taking out a small loan?
• How long does it take to get a small loan?
• What interest rates can I expect with small loans?
• Why choose ThisLender for UK small loans?
• Where do I go for help if I’m in financial difficulty?

What amount is considered a small loan?

There is no set amount that is considered to define a ‘small loan’, as each lender has their own idea of what they consider to be small. Here at ThisLender, the smallest loan you can apply for is £50 to cover relatively low cost emergency expenses.

How can I get a small loan in the UK?

If you’re looking for a small loan online, you can apply on a lender’s website directly, or you can go through a loan broker like ThisLender. As a broker, we work with a panel of direct lenders in the UK. Our online loan matching technology helps customers find a suitable loan product for their needs in minutes.

Once you complete your initial small loan application with us, we quickly match you to a suitable lender from our panel. From this point, you deal directly with the lender to complete the rest of the application process. Small loans are designed to be quick and easy - if approved, you could have the money in your bank account the very same day, or within 10 minutes^² after approval.

Am I eligible to apply for a small loan online?

Usually, the easiest way to receive a small loan is to apply online. Providers like us are able to use the latest loan matching technology to quickly match you to the right financial product for your needs. You are eligible to apply for a small loan online with ThisLender if you meet the following criteria:

• You are over the age of 18 years old
• You have a UK bank account with debit card
• You are employed with evidence of regular income
• You are NOT currently bankrupt

Do you offer small loans without credit checks?

No we don’t, and we’re not the only ones. All consumer credit providers are required to conduct credit checks before approving finance. If you find a lender offering small loans without credit checks, you should check their legitimacy using the Financial Services Register.

In the UK, lenders must be authorised and registered by the Financial Conduct Authority. As well as this, they must follow rules set out by the FCA, and this includes credit checks.

When you complete the initial application through ThisLender, our lenders will complete a soft credit check. The hard credit check will come in the second part of the application with the direct lender.

How do small personal loans for bad credit work?

Having bad credit doesn’t necessarily mean you won’t be able to get a small loan. At ThisLender, we work with lenders who offer small personal loans for bad credit and limited credit history.

These short term bad credit loans help people who need to borrow a small amount of money quickly. They are issued by lenders who focus on overall affordability, rather than credit score alone.

Although they work similarly to standard small loans, they sometimes require a guarantor to co-sign the loan agreement. While this is usually the case for larger loan amounts, it can happen for small loans too. If a lender quotes you for a guarantor loan and you want to go ahead, you will need to find a second person to sign the terms of agreement.

Small loans for bad credit can also result in higher interest rates being charged to mitigate the increased ‘risk’ your application poses to the lender.

What are the advantages of taking out a small loan?

There are lots of benefits to taking out a personal loan when you need to borrow a relatively small amount of money. The pros of getting small loans in the UK include:

• Shorter repayment terms: A small loan is usually paid back relatively quickly, which means you don’t have to worry about making repayments for months and months on end. At ThisLender, our small loans are repaid from 3 - 36 months.
• Flexible payment schedules: Choose how frequently you’d like to make repayments. These loans are repaid in weekly or monthly instalments, which means your repayment plan can be tailored to your salary payments.
• Used to cover a variety of expenses: Although these loans are designed for financial emergencies, how you choose to spend the money once approved is down to you.
• Receive the money you need quickly: Small quick loans in the UK are typically straightforward to arrange. When you borrow smaller amounts, the money could be issued within 10 minutes^² after approval.

How long does it take to get a small loan?

One of the biggest benefits of small loans is the speed at which they can be arranged. In the UK, small loans are a popular choice for customers who need money quickly to cover financial emergencies. While funding times vary from applicant to applicant, you could have the loan in your account within 10 minutes^² after approval.

What interest rates can I expect with small loans?

Lots of people tend to worry when they see high representative APRs being advertised by lenders. However, this is not the most effective way of thinking about the overall cost of the loan. Although interest rates are higher with smaller loan amounts, you are borrowing over a shorter repayment term, so the actual amount you are required to repay is often lower than it initially appears.

Why choose ThisLender?

If you’re looking for a quick and easy way to access small amounts of money, our service can help. We have years of experience arranging small loans in the UK. Using our close relationships with direct lenders, we help match you to a suitable provider you can trust.

When you choose ThisLender, benefit from:

• Free online applications
• Access to FCA approved lenders
• Technology that keeps your data secure
• Fast decisions and turnaround times
• A broker that has your best interest in mind

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.