Need money quickly but don’t have anything to use as collateral? At The Cashfloat lending team, all payday loans are unsecured. This means we never require anything from the borrower as collateral. You can apply for an unsecured loan from £300 up to £1,500. Whatever your credit score, apply today and find the money in your bank account within 1 hour* of approval.

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 (car finance), making home improvements or to pay off outstanding bills.

If you do not manage to make the monthly repayments of your unsecured loan, the lender will not be able to claim any financial assets from you. However, even though unsecured direct lender payday loans online do 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 loans for businesses which are no secured with anything, click here.

Can I get an unsecured loan with a bad credit file?

Sure, at Cashfloat, all our loans are unsecured with representative APR 611.74%. We understand that having a poor credit history 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 rating, it may be worth your while heading over to our new page where we want to help people with a poor credit file 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 poor credit loans, you can borrow a loan amount of £300 up to £1500. Most people who want to borrow money, borrow up to £700 with representative APR 611.74%, 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 the interest rate on the full amount borrowed, no matter how much of it you use.

Get your unsecured loan today!

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

There are many pros with getting an unsecured poor credit loan from a direct lender as opposed to applying for an unsecured loan with a credit 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 unsecured loans direct, 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 repay the money when they have it available. A credit card with a high or low representative APR or interest rate 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 as it will generally have a lower representative APR and interest rate. 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 you want to borrow 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 repay at all.
  • A personal loan. This is generally a loan of a higher amount.
  • Use an authorised overdraft.

How can I improve my credit score?

When applying for a loan, other lenders will use credit reference agencies to look at your credit file and and credit score and decide whether to grant you a loan, depending on that. At Cashfloat, we look at much more than your credit score when applying for a loan. So feel free to apply, even with a poor credit history.

Who can apply for a loan with Cashfloat?

To apply for a loan with Cashfloat, you must meeting the following eligibility criteria:

  • Be 18+ years

  • Be a UK resident

  • Have a steady source of income and have a UK bank account.

Can I repay my loan early with Cashfloat?

If there has been a change in your personal circumstances and you would like to repay the loan early, you can do so. Paying back the loan before you are expected to will save you on the interest rates you would be charged if you were making fixed monthly repayments. At Cashfloat, we do not have any early repayment charges and encourage our customers to pay off any existing debts as soon as they can.

How long can I take out my loan for?

Depending on your financial circumstances, you might want to take out the loan for 3 months up to 9 months. Paying your loan over 3 months will reduce the overall cost of the loan. However, making your monthly payments over 6 months will make the payments into more manageable amounts. We leave it up to the customer to decide what will work better for them.

What should I do if I can not meet my monthly repayments on time?

If you see you are struggling to make your loan payments on time, it’s essential to contact your lender and tell them. Sometimes financial circumstances can change, and some lenders may charge extra fees for missing payments which you will want to avoid. After contacting your lender, they will probably figure out a solution for you and may even grant you a payment holiday or lower interest rate. For impartial financial advice, go to

Remember: Before applying for a loan again, it’s important to consider your personal circumstances properly and ensure you are fully capable of making the monthly repayments. Missing payments or defaulting on a loan could eventually result in county court judgements (CCJs) against you.

If you are struggling financially because of the Coronavirus, go to our Coronavirus help blog.

Can I apply for an unsecured personal loan from Cashfloat?

Yes! Cashfloat offer small personal loans which are also unsecured. Our unsecured personal loans range from £1,000 to £2,500.

What can I use a personal loan for?

You can use a personal loan to help with larger expenses, such as car finance, to cover emergency expenses or debt consolidation. You do not have to be a homeowner to get a personal loan, like you would have to be for a homeowner loan. Click here to complete your personal loan application today.

Where can I compare different types of loans?

There is a comparison service where you can compare loans and see the different interest charges of each one. On this comparison website, you can get information about many loan companies and banks, including their rates and charges. Some of the loan websites are Post Office loans, M S Bank, Tesco Bank and Bank of Ireland.

Cashfloat – Offering affordable unsecured loans in the UK

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 the interest rate! Cashfloat – Apply today for an affordable unsecured loan!

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.

Representative example

Total amount of credit: £700
Duration of the agreement: 6 months
Repayment total: £1,179.05
Interest is Fixed at rate of 185.39% per year | Representative 611.74% APR
Installment 1
Installments 2 — 5
Installment 6