Looking for a small loan?
Need a small loan to pay for a bill that just cropped up? Get a small loan of up to £1,500 today with a trusted direct lender. We offer instant decisions and fast payouts on all our loans. It takes around 3 minutes to complete the application. The Cashfloat Team has already helped over 150,000 people by providing them with fast money to cover emergency expenses, and we look forward to helping you too!
Easy & flexible repayments
Small loans are easier to manage since the repayment terms are typically shorter.
Funds to your bank in just 1 hour*
Faster application and approval process compared to medium-sized online loan applications.
What are small loans?
A small loan can be defined in the UK as an unsecured loan of up to £1,500 that is repaid within nine months. Small loans are a financial product designed to help you out when you have an unexpected expense and need a quick cash injection to help you get your finances back on track.
What can I use little loans for?
Small loans could be useful in a variety of situations:
- Unexpected bills
- Emergency car repairs
- Urgent medical expenses
- A broken boiler
Because small loans are usually just a couple of £100s and paid back over a period of a few months, they are a perfect solution for cash emergencies.
Am I eligible to apply?
To get a small loan from Cashfloat, you must:
- Be a UK citizen
- Be at least 18 years old
- Hold a UK bank account
- Have a steady source of income
If you meet all of the criteria above and you pass our affordability assessment, you’ll have a very high chance of being approved.
Can I apply for a small loan with a bad credit score?
Of course! Cashfloat weighs affordability over your credit score. We believe that your credit score is just a number. If you can afford the loan repayments, and as long as borrowing money won’t harm you financially, we’ll happily consider your small payday loan application. Apply now and join thousands of UK customers we’ve helped, even those with a less than perfect credit score.
Looking for a little loan with bad credit? Apply here and get the service that you deserve.
APPLY NOW
How do the repayments work?
Once you’ve received the money into your bank account, you’ll have to make the first repayment in the next month. Our customers make repayments for their small loans every month for up to 9 months. The exact amount of time depends on both personal choice and the amount borrowed. The loan payments are made with continuous payment authority (CPA), where the customer gives permission to the lender to deduct monthly payments as agreed in a contract.
At Cashfloat, we encourage all our customers to make early repayments and save on interest. Unlike other lenders, we don’t add charges if you do so. We also offer our ‘Easy Start’ feature, where we add one extra payment but reduce the amount of the first payment without adding any extra cost. The aim of this is to make repayments easier to afford overall.
What are the advantages and disadvantages of small loans?
Here are the advantages and disadvantages that small loans offer:
- Quick and easy: Small loans are easy to apply for and fast to process. They’re great for small financial emergencies.
- Boosts your credit score: If you make timely repayments, having a small loan can help improve your credit score. Be aware that if you fail to make timely repayments, a small loan could harm your credit score.
- No need for collateral: Usually, you don’t have to risk your house, your car or any other assets to get a small loan.
- Affordable repayments: Since the amount you borrow is small, you can pay it back on your next payday or in manageable monthly instalments. Often people take small loans for six months, for example.
- High interest rates: Small loans often have higher interest rates due to the short repayment periods.
- Risk of debt spiral: Relying on small loans for regular expenses can lead to a cycle of debt that’s hard to break free from.
- Limited loan amounts: Small loans usually have a relatively low cap on how much you can borrow. You may not be able to cover a large expense. These loans are more suitable for small emergencies.
How do I get a small loan?
At Cashfloat, getting one of our small payday loans starts with you completing a straightforward online application. This will only take a few minutes of your time. Once you’ve applied, our team of expert underwriters will immediately run credit and affordability checks to determine whether you can afford the loan repayments, and then you’ll receive an instant decision. If you’re approved, the money will be funded into your bank account within an hour*.
You can use our loan calculator to see your options, and you can also use our affordability calculator to check if you can afford a loan.
Why get a small online loan from Cashfloat?
There are many reasons to borrow a small online loan from Cashfloat. Here are a few:
- Seamless service – We’re a customer orientated direct lender, and we will provide you with a small online loan as fast as possible. You’ll get an instant decision and if you’re approved, you’ll get funding within an hour*.
- Flexible loan amounts – Instead of borrowing more than you need or trying to stretch an insufficient loan, you can choose the exact amount you need between £300 and £1,500.
- Transparent terms – There are no hidden fees when you apply for a loan with us. All our loan terms are entirely transparent. If you choose to repay your loan early to save on interest, we won’t charge you any extra fees, for example.
FAQs
Can I get a small loan with a low APR?
Loans with a low-interest rate are usually only provided to people with a good credit score and to those who borrow a significant amount. Payday loans always come with a high rate of interest because of the way lending works. One factor we have to consider, for example, is that we only lend for short periods of time. This means that we have less time than other lenders to make a profit.
As we mentioned, we have a new ‘Easy Start’ option which reduces the amount you pay on your first monthly payment. This is designed to help you get your finances back on track before you make your first big payment. We’ve also added an extra interest-free month to give you more time to repay your loan.
While payday loans might be expensive, we do offer good rates compared to our competitors. Click here to apply for an affordable small loan with relatively low interest, from Cashfloat.
How fast can I get my small loan?
We provide small payday loans in the UK with an instant lending decision and funding within the hour* if you’re approved. We have designed our loans to help people during times of emergency. Our small same day loans have already helped hundreds of thousands of people pay for unexpected financial problems.
Need money now to help you overcome a financial hurdle? Apply with Cashfloat, and if approved, get the best quick small loans today!
Can I get a small loan with no credit check?
It is not recommended for you to take a loan from any UK lender that offers a small loan with no credit check. Lenders that offer these are irresponsible, and they don’t care about your financial safety. Any responsible lender should at least carry out a credit check before they give you a loan.
But don’t worry! Our high acceptance loans are a safer alternative for people with a poor credit score, and the instalment based repayment plan makes them more affordable.
Can taking a small loan improve my credit rating?
Taking out a loan can have either a positive or negative impact on your credit profile. It depends on how you manage your repayments. If you make your repayments on time, taking out a loan can help to improve your credit rating because you’re showing that you are responsible with your money. On the other hand, if you’re late with the payments or you miss them altogether, this can negatively affect your credit rating.
If you would like more useful information on improving your credit rating, go to Cashfloat’s improve my credit score page.
How do I know if I am applying with a safe lender?
Here are some website checks you can make to build a picture of whether a lender is trustworthy or not:
- Check that the lender is registered with the FCA. They should provide a registration number that you can check against the Financial Services Register.
- Make sure the company is easy to contact, and they have an address you can verify.
- Make sure that there is a padlock in the URL bar of their website and that the website looks legitimate.
- Check that the company have a history of good reviews that can be verified.
Taking basic safety precautions when applying for a loan will go a long way towards keeping your personal details safe as well as protecting you from fraud.
Ready to apply for a loan?
Repay over 3 months, 2 monthly repayments of £ 246.66 , last month repayment of £ 246.67
APPLY NOWRepay over 4 months, First month repayment of £ 246.66 , 2 monthly repayments of £ 246.66 , last month repayment of £ 246.67
APPLY NOW