Text Loan Alternatives

Text loans are often used in cases of emergencies. So if you need cash fast, you might consider these options. Although we don’t offer text loans at ThisLender, we do offer short-term loans you can apply for using your phone. The loan application process is quick and easy, and you can see money in your account quickly, sometimes within 10 minutes^² after approval.

So if you’re looking to learn more about text loans and payday text loan alternatives, keep reading.

• What is a text loan?
• How do text loans work?
• What are the advantages of text loans?
• What are the disadvantages of text loans?
• Can I get a text loan with a bad credit score?
• Can I get a text loan with no credit check?
• How do I get a text loan from a direct lender?
• Are text loans available for the unemployed?
• Why choose ThisLender for text loan alternatives?
• Where do I go for help if I’m in financial difficulty?

What is a text loan?

A text loan, also known as a 'payday text loan' is a small loan you can apply for through SMS text messages, which can be a convenient alternative to accessing cash fast as the entire application process is through your phone. This type of mobile loan is usually unsecured, which means it’s quick and easy to apply for without having to part with personal assets (i.e. your house or car).

An unsecured personal loan, although usually quicker to secure, will come with higher interest rates and lower loan amounts.

How do text loans work?

Text loans work by sending a text application to the lender. There’s no need to complete an online application or speak with anyone, it’s a straightforward process, and the borrower can often have the cash in their account quickly.

A text loan process is no different to our process here at ThisLender. Although our lenders don’t offer text loans, their loan application process is just as quick and can be completed using your mobile phone. After loan approval, you could have the money in your bank account within just 10 minutes^² (depending on circumstances and bank policies).

What are the advantages of text loans?

The main advantage of a text loan is how quickly and easily you can apply and get hold of the cash you need. Simply complete the application by sending SMS text messages to the lender, and once approved, they’ll drop the funds into your pre-agreed bank account.

But it’s not just text loans that offer a simple application process. You can apply for our short-term loans through your phone just as easily, access between £50 and £5,000^† and repay over three and 36 months.

To get started, all we need is the amount you want to borrow, how long you want to borrow it, and what you need the loan for. It’s that easy.

Let us match you with the right lender today — apply now.

What are the disadvantages of text loans?

There aren’t many lenders offering text loans nowadays, so you might struggle to find a suitable lender. The good news is that we work with a panel of trusted UK direct lenders who offer short-term loans that are fast and flexible. So if you can’t find a text loan provider, you can consider getting a free quote from us today to see your options.

Another disadvantage to text loans, or any short-term loan, is that it can be easy to fall into a debt cycle. Short-term loans are not designed to help you with long-term debt problems. If you need some debt advice, visit MoneyHelper.org.uk for free and impartial advice.

Can I get a text loan with a bad credit score?

Yes, various SMS text loans and text loan alternatives are available if you have bad credit. The lenders on our panel offer flexible loan options, regardless of your credit score, so we’re confident we can find you the right loan.

Our direct lenders offer bad credit loan options which are just as quick and simple to apply for as a text loan.

Even though we can help you find a loan product suitable for poor credit, this doesn’t mean you shouldn’t improve your credit score where you can. Even just ensuring you’re registered on the electoral roll or making loan repayments on time can help significantly boost your credit score.

Can I get a text loan with no credit check?

No, all lenders will perform a hard credit check to determine your financial situation and repayment history before lending to you. All lenders lending to consumers must be regulated by the Financial Conduct Authority (FCA), which means they must lend money responsibly and ensure the borrower can realistically afford repayments.

How do I get a text loan from a direct lender?

To apply for a text loan, you’ll first have to find a lender offering them and apply directly through that lender. At ThisLender, we can’t help you get a text loan, but we do have alternative loans you can apply for using your smartphone. These loans are fast and flexible, and the process is straightforward.

We can save you time researching lenders online by checking your needs against our panel of lenders and matching you with the best fit. This means you don’t waste your time needlessly applying with different lenders. Instead, we do all the legwork for you.

Are text loans available for the unemployed?

You might find it difficult to get a loan if you are unemployed or don’t have a regular income. When assessing your eligibility, lenders will want to see proof that you have regular monthly income to repay your loan. Our panel of lenders will only accept loan applicants who are employed.

Why choose ThisLender for text loan alternatives?

As a broker, we offer our customers a completely free loan matching service to help you find a loan deal that's best for your needs. We simply take your details and match you to a suitable lender on our panel, so you don’t have to spend time approaching lenders separately.

• We are a UK-based credit broker and are authorised and regulated by the FCA
• Our online loan-matching service is 100% FREE to use
• We offer loans from £50 up to £5000^† over 3 to 36 months
• Money could be in your account within 10 minutes^² after approval

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.