Cashfloat’s Loans for Poor Credit
Cashfloat was founded on fairness and equality. We believe that everybody should have access to the money they need, no matter their credit score. We have flexible loan repayment plans for all of our customers and our easy start option makes it even easier to manage the payments with an extra month interest-free at no additional cost! We’re confident that you can find the right Cashfloat loan for bad credit to suit your needs.
How fast can I get a loan for bad credit?
If you need an urgent loan for bad credit, you can apply with Cashfloat and get your money funded to your bank account within 1 hour, if approved. The application form is simple and quick to complete. Most people submit the form within 2-3 minutes. Once completed you will get an instant decision. Cashfloat are here for you, to get you your bad credit loan asap!
Can I get a cheap loan for bad credit?
Low apr loans with bad credit can be hard to find because poor credit loans often come with higher interest rates. The good news is that Cashfloat offers lower interest loans for bad credit than many lenders on the market. We believe in giving everyone a fair chance to obtain credit at reasonable rates, even if you have a lower credit score.
Why is it better to get a bad credit loan from a direct lender?
- You get the loan from the lender directly without any other party involved.
- Have any queries? Ask your lender directly.
- You won’t pay any broker fees.
- A direct lender will ensure that your details will be kept secure.
What are my alternatives if I have poor credit?
- Personal – Obtainable from banks, have a lower price range but may be harder to get approved for.
- Guarantor – Much easier to get approved for and are cheaper, but the process is a bit longer and more tedious.
- Secured – Similar to guarantor loans, these are cheaper and easier to get approved for with bad credit but the risks are higher in cases of default.
We always encourage you to explore all your options before signing any agreement. In some cases, Cashfloat’s loans may be an excellent option for you.
Can I apply for an instalment loan for bad credit from a direct lender only?
Instalment loans allow you to repay your bad credit loan over a few months, giving you more flexibility when it comes to repaying your loan. At Cashfloat, we provide instalment loans that can be paid back over a 3 – 6 month period. So, if you’re looking to apply for a bad credit instalment loan from a direct lender UK up to £1500 today, we can help. Our straightforward application form ensures a hassle-free process, and if approved, we’ll deposit the money to your account within an hour.
Am I eligible to get a loan with bad credit if I am on benefits?
- A UK resident
- Have a UK bank account
- Above the age of 18
- Have a steady source of income – this can includes benefits
As a trustworthy direct lender, we want to make sure that you can afford the loan before funding it. Therefore, we will also base your bad credit loan eligibility on an affordability assessment. As long as you meet our affordability and eligibility criteria, you don’t need a bad credit loan eligibility checker to see if you qualify for our poor credit loans.
Can I get loans for bad credit without using a broker?
Can I get a 6 month loan with bad credit?
Can getting bad credit finance improve my credit rating?
Yes! In contrast to what most people think, getting bad credit finance can improve your credit score if you show you can pay back your loan on time. These loans are often called credit-builder loans. Paying off your loan at the right time will improve your credit score.
Should I try to build up my credit rating before applying?
What is the difference between an unsecured bad credit loan and a secured bad credit loan?
Can I get a bad credit loan with guaranteed approval and no guarantor from a direct lender?
Have more questions about our bad credit loans? Get all the answers here.
Cashfloat is a Very Bad Credit Loan Direct Lender
Many people prefer to obtain a loan for bad credit from direct lenders only – and for good reason too. You want to make sure that your personal information is kept safe, and at the same time you want to know exactly with whom you are obtaining credit. Cashfloat is a poor credit loan lender that is both fully GDPR compliant and is registered with The Information Commissioner’s Office.
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What are bad credit loans?
Luckily, even if you have very bad credit, there are lenders who will lend to you if you can prove you have good income, such as from a job or benefits. Just be aware that you may be asked to provide copies of your bank statements or payment slips. Even if you’re looking for loans for unemployed and are receiving benefits, you can apply today for bad credit finance with Cashfloat.co.uk – no guarantor necessary.
What is a soft search loan?
A soft search loan uses a soft search credit check to determine your eligibility for borrowing credit. Soft credit checks do not affect your credit score and are invisible to lenders, employers, and companies who may perform credit checks on your report in the future.
Lenders might use soft searches on your credit file to offer you pre-approved credit offers or allow you to check your eligibility for a certain credit product without impacting your credit score.
However, once you complete an actual credit application, lenders perform a “hard” credit search. Hard searches entail a more thorough review of your credit profile and does leave an imprint on your file. Hard searches can potentially affect your credit score, especially if the search is from a creditor for a loan or credit card application.
Use our bad credit loan calculator to figure out the cost of borrowing
Borrowing money with fair credit or bad credit can be more expensive, so it’s important to understand exactly how much it will cost you before you sign on the dotted line.
Our free bad credit loan calculator does all the work for you – simply enter the amount you wish to borrow, how long you need to borrow the money, and we’ll give you all the figures:
- the representative APR on your loan
- each monthly repayment
- the total cost of interest
- your total amount repayable
With Cashfloat, there are absolutely no hidden fees, and our loan cost calculator will tell you exactly what to expect. Click here to find out the cost of your loan now!
Bad credit loans online with instant decision
We know that when you apply for a bad credit loan online from Cashfloat, you want to get the money fast. That’s why you will automatically get an instant decision, whether you have good or bad credit. Maybe once bad credit meant that no creditor will lend to you, but now, you can easily apply for bad credit loans online and still get all the benefits that a person with good credit history gets like instant decision, same day funding and 5-star customer service.
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 NOWLoans for bad credit with no guarantor in the UK
Applying for a secured loan for bad credit means you have a higher chance of approval, but if you don’t want to risk collateral with a secured loan, or you’re not interested in co-signing with a guarantor, you’ll need to look for someone who will give you a bad credit loan with no guarantor needed. The good news is that NONE of Cashfloat’s products require any kind of collateral, so you can apply for our loans with bad credit and no guarantor today!
What is a bad credit score vs a good credit score?
There are several credit report agencies that lenders will use to assess your creditworthiness, and each has its own scale for credit scoring. Here are some of the most popular ones for you to compare:
| TransUnion Score | Experian Score | Equifax Score | Credit Rating | What that means |
| 0–550 | 0–560 | 0–279 | Very Poor | Most lenders will likely reject your credit application |
| 551–565 | 561–720 | 280–379 | Poor | You’ll likely be accepted for bad credit loans but may be offered high interest rates and low credit limits |
| 566–603 | 721–880 | 380–419 | Fair | You’ll qualify for fair credit score loans with reasonable rates, but you’ll still have a low limit |
| 604–627 | 881–960 | 420–465 | Good | You’ll be able to access a higher credit limit, but not the most competitive rates |
| 628–710 | 961–999 | 466–700 | Excellent | You’ll probably get competitive credit offers with excellent rates and high limits |
Are you concernced that your credit score isn’t up to scratch? Don’t worry — you can still apply with Cashfloat! Your credit rating is just one of the many factors we consider when reviewing your loan application. At Cashfloat, you can get a loan for good credit, fair credit, average credit, bad credit or even with no credit history at all. As long as we see that you can afford the loan in your budget, we are happy to help you access the emergency funds you need.
Does Cashfloat provide loans with no credit history?
Yes, we do! We recognise that your poor credit score may not be an accurate representation of your creditworthiness, especially if you haven’t borrowed much credit in the past. That’s why we emphasise affordability over credit ratings in our decision process. If your finances show you can afford the loan, then we are happy to help you get the money you need.
Borrowing a loan with no credit score from Cashfloat can actually help build your credit file and boost your credit score. By applying for an affordable amount and making timely repayments on your loan, you prove to credit rating agencies and future lenders that you can handle credit responsibly. This can help you get better rates anytime you need to borrow money in the future.
However, it’s important to remember that borrowing credit is a serious matter you should never take lightly. Loans for people with no credit can be expensive, especially on the short term market, and borrowing irresponsibly can cause you serious money problems. In addition, making late repayments or defaulting on a loan can negatively impact your credit score further, making it more difficult to build good credit.
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Can I get bad credit loans with no credit check?
At Cashfloat we conduct a thorough credit check on all our applicants. Credit checks help us to assess whether an applicant can afford a loan or not. We do not recommend applying for bad credit loans with no credit check, even from a direct lender. This is because the lender or broker may not be FCA authorised.
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