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.
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.
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 minutes² after approval.
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:
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.
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.
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:
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 minutes² after approval.
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.
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:
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.
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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 not a lender but a licensed credit broker in the UK
Types of Loans & Credit