Unsecured Loans

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What is an Unsecured Loan?

An unsecured loan is a loan you can get without requiring a guarantor or collateral to protect the loan in case of failure to meet the repayments.

Unsecured loans are different from secured loans in that they are not secured by any collateral. People often use unsecured loans to finance large purchases such as buying a car, making home improvements or to pay off outstanding bills. If you do not manage to make the repayments of your unsecured loan, the lender will not be able to claim any financial assets from you. However, even though an unsecured loan does not require any security from you, the lender has legal rights to take the money back from you in some way if you do not make the repayments. To read about unsecured loans for businesses, click here.

Can I get an unsecured loan with bad credit?

Sure, at Cashfloat, all our loans are unsecured. We understand that having bad credit should not hold you back from getting a loan you deserve. As long as you can prove you can afford the repayments we are happy to consider your application.

If you are having trouble being accepted for an unsecured loan with bad credit, it may be worth your while heading over to our new page where we want to help people with bad credit improve their credit score. On this page, we show you how you can begin improving your credit rating.

How much can I borrow with Cashfloat?

With our unsecured bad credit loans, you can borrow from £500 up to £1000. Most people borrow up to £700 when they first apply for their first loan. It is important to assess how much money you need before applying for a loan. This is because you will be paying interest on the full amount borrowed, no matter how much you use.

Get your unsecured loan today!

How to apply for an unsecured loan

Applying for an unsecured loan is simple and straightforward. It is a lot easier than applying for a secured loan, as it does not involve finding a guarantor or securing any asset on the loan. To apply for a loan with Cashfloat, click on the apply now button above and begin the application form. When completing the application form, ensure that you have filled out all the details correctly to get your application processed as quickly as possible. Once your loan has been approved, money should be in your bank account within an hour and repayments are made monthly according to your plan.

What are the pros of getting an unsecured loan for bad credit from a direct lender?

There are many pros with getting an unsecured bad credit loan from a direct lender as opposed to applying for an unsecured loan with a broker. Here are a few:

  • You will get the loan from the company directly, without involving a third party.

Cashfloat is a direct lender as well as a broker – this puts you at a great advantage. If we are unable to approve you for an unsecured loan, then we can pass on your details (with your permission only!) to other companies that may be able to help you.

What is an unsecured line of credit?

An unsecured line of credit (LOC) is an open-ended loan that can be used for anything. It is similar to a credit card in that the customer can tap into that line of credit repeatedly and can pay back the money when they have it available. A credit card is an unsecured line of credit.

What are my alternatives to unsecured loans with poor credit?

There are many alternatives to unsecured loans that you can go for.

  • A secured loan: Getting a secured loan or a loan with a guarantor will probably work out cheaper for you. However, it may take longer to get approved for a secured loan. If you need the money fast, then this won’t be ideal for you.
  • Ask your workplace for a wage advance.
  • Ask family and friends for interest-free loans. Remember, when borrowing money from family or friends put your agreement in writing. You should also discuss what can happen if you pay back late or don’t pay back at all.
  • Use an authorised overdraft.

Cashfloat – Offering the best unsecured loans

At Cashfloat, we have already helped over 100,000 UK citizens to get the loan they need. Our loans have recently become even more affordable with our new “easy-start” option. With our new “easy-start” technology, you get to pay less on the first instalment, which helps you get back on your feet sooner. Our loans are flexible, and you can pay back as early as you want with no extra fees and save on interest! Cashfloat – Apply today for the best unsecured loan!

Cashfloat Loans

Cashfloat offer bad credit loans between £500 and £1000 with repayments made over 3-6 months (7 with Easy-Start). With our streamlined application process, your unsecured bad credit loan can be funded within 1 hour of approval. Our customer support team are available to help you with any queries you may have during the loan process. You can reach us via live chat, email or telephone. If we are unable to fund you a loan, we also act as a credit broker and can help you find another lender who will better suit your needs. Need money today? Apply now with Cashfloat and feel the difference!

Representative example
Total amount of credit: £900
Duration of the agreement: 7 months
Repayment total: £1,565.99
Interest is Fixed at rate of 198.72% per year | Representative 529.09% APR
Installment 1
Installments 2 — 6
Installment 7