How it Works

If your loan has been pre-approved, that means it has passed our initial checks but an underwriter still needs to manually review it. You should receive a final decision within 4 hours, although it can sometimes take longer. You can always speed up the process by calling us on 0203 757 1933 and pressing option 1.

If we need further information from you, you will be contacted within 1 business day. You can track the progress of your application via the link sent to you by email.

Once your payday loan application is approved, you’ll be funded within 1 hour.
If we’ve received all the information we need, it can take up to 4 hours to receive a final lending decision. Sometimes we need additional information from you. If this happens, we’ll contact you within 1 business day.

If you’d like to speed up the process, you can do this by calling us on 0203 757 1933 and pressing option 1 to speak directly to a loan underwriter.

To check the progress of your application, follow the link sent to you via email.

You’ll be directed to a screen that shows exactly what you need to complete. If everything has already been completed and you have still not been funded, it means that the application is waiting to be manually reviewed by a loan underwriter. This can take up to 4 hours.

Whatever status your application is in, you can always speed things along by calling 0203 757 1933 and pressing Option 1 and speaking directly to a loan underwriter.

If you are a repeat customer of ours with a good payment record, you may still be declined for a loan. Even if you pay off all your loans on time or early, we may still decline you in order to ensure that we are lending responsibly. This sometimes means:

• Declining someone if they apply for too many loans in a short period of time
• Declining someone after too many consecutive loans (even if they are spread out over a long time)
• Declining someone after suspecting a reliance on High-Cost Short Term Credit.

We rarely contact employers during the loan application. In exceptional cases, we may contact your employer for specific reasons:

1. Employment verification: Occasionally, if we can’t verify your employment through other means, we may contact your employer solely to confirm your employment status. We will NEVER divulge who we are or why we are calling!
2. Application clarification: If we need to clarify details on your application and cannot reach you through provided contact information, we may contact your workplace. Our goal is solely to speak with you and not discuss loan matters with anyone else.
3. Repayment issues: In the event of non-payment, we will make every effort to contact you through multiple channels. If we repeatedly fail to reach you, we may, as a last resort, contact your employer to establish direct communication with you.

Your privacy and the security of your personal and financial information are of utmost importance to us at Cashfloat. We maintain strict measures to protect your data throughout the loan process.

We do not offer top-up loans, however, you are welcome to reapply anytime once your current loan has been repaid. If you do decide to settle your loan early, please remember that we cannot guarantee that you will be approved even though you’ve just had a loan with us.

There are a few ways we can help you manage your loan repayments if you are in financial difficulty. Please contact our team on 0203 757 1933 and we can discuss your options.

If you’ve recently moved houses (ie: in the past 6 months), it could affect your chances of approval. To make sure your application is submitted correctly, you should:

1. Apply with your old address
2. Leave a note for our underwriters explaining that you’ve moved house, and giving your old address. You will be able to write to the loan underwriters after you submit your application and confirm your email address. It will look like this:

If you don’t see this screen, send an email to client-service@cashfloat.co.uk instead. If you have any questions at all, feel free to contact us on 0203 757 1933 (option 1) and we’ll be happy to answer any questions.

No, we do not currently offer repayment plans in weekly instalments.

Arrears occur when you fail to make your scheduled repayment on time. In this situation, we will send you an arrears letter to alert you that you have missed a payment and that you must make it as soon as possible.

The arrears letter will provide details of your overdue payment, and you should make sure that you read it carefully. It will also explain the consequences of not making the payment, including potential additional fees and charges, as well as the possibility of legal action.
If you are in arrears, it is important to contact us as soon as possible to discuss your situation and come to an arrangement. We may be able to offer you a repayment plan that is more suitable for your current circumstances.

If you do not contact us or make the payment within the timeframe specified in the arrears letter, then your account may be referred to a debt collection agency. This could result in further fees and charges, as well as a negative impact on your credit score.