Need money quickly but don’t have a guarantor or anything to use as collateral? All the Cashfloat lending team’s short term loans are unsecured loans. This means we never require anything from the borrower as collateral, and we don’t ask for a guarantor.

You can apply for an unsecured loan of £300 to £1,500 from Cashfloat, and repay the money in 3-9 months. Whatever your credit score, you can apply today for an instant decision and get the money in your bank account within one hour* of approval.

At Cashfloat, we’ve already helped over 100,000 UK citizens get the loans they need.

Warning: Payday loans are expensive and should only be used as a last resort.

What is an unsecured loan?

An unsecured loan is a loan that a lender provides without requiring a guarantor or collateral as backup in case the borrower fails to make repayments.

Unsecured loans can be used for a wide variety of purposes. However, they’re often used to fund smaller expenses like unexpected bills, car repairs or repairs to home appliances. Secured loans, on the other hand, tend to be used to finance large purchases like buying a car or making home improvements.

If a borrower fails to make repayments on a loan that is secured against an asset, the lender will be able to take possession of the asset to pay the costs of the loan. Similarly, if a borrower fails to make repayments on a loan with a guarantor, the lender will be able to request payment from the guarantor.

If you don’t manage to make the monthly repayments on an unsecured loan, the lender won’t be able to claim any assets from you straight away or ask for payment from anyone else. This means the debt you have is less of an immediate problem. It’s worth noting, though, that the lender does still have a legal right to claim the money from you, and they may pursue you for it.

Unsecured loans can be used for personal expenses or for business expenses. To read about loans for businesses which aren’t secured against anything click here.

Apply now!

How much can I borrow with Cashfloat?

With our unsecured payday loans, you can borrow between £300 and £1,500. After you’ve taken out a loan, you’ll make repayments in 3-9 monthly instalments.

You can have a look at your borrowing options on our loan calculator. The Cashfloat loan calculator will show you how much you can borrow, what monthly repayment options are available, the APR, the total interest you’ll pay and the total amount you’ll need to repay. As well as using the loan calculator to see your borrowing options, you can also use our affordability calculator to check you can afford a loan before you apply.

One common loan that Cashfloat provides to first time applicants is a £700 loan with a representative APR of 611.74%.

Remember that it’s important to make sure you know exactly how much money you need before you apply for a loan. If you borrow more than you need, it will be unnecessarily expensive because you’ll be paying interest on the full amount borrowed, no matter how much of it you use. If you don’t borrow enough, on the other hand, you might not be able to cover your expenses!

Cashfloat Easy Start

Cashfloat loans are more affordable with the Cashfloat Easy Start feature. With Cashfloat Easy Start, you pay less for your first repayment instalment but have an additional monthly payment added at the end of your repayment plan. There’s no extra cost, however, and overall it makes it much easier to repay a loan.

Our customers are most financially vulnerable immediately after they’ve taken out a loan, and we thought that by reducing the first instalment, we’d make it easier for them while they’re still trying to get back on their feet. We add an extra monthly instalment at the end of the repayment period so the loan can be fully repaid, but we don’t charge any extra interest.

Our Easy Start option comes at no extra cost and is just designed to make things easier.

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

Yes, you can. At Cashfloat, we believe that having a poor credit history shouldn’t hold you back from getting the loan you deserve. When we assess someone’s ability to repay a loan, we look at more than their credit score. If you can prove you can afford the repayments, we will take your application further.

It’s important to note, however, that it’s always a good idea to try and improve your credit rating. Having a better credit score will always make borrowing easier and will open up more options to you. To learn about how you can improve your credit score, you can head over to our new page and see how Cashfloat can help people improve their credit score.

Apply today! No collateral needed!

Try to use a direct lender for your unsecured loan

When you take a loan from a direct lender, they lend you the money themselves. Credit brokers, on the other hand, send your details to various lenders and try to find you one that will give you a loan. There are a number of reasons why it’s better to take an unsecured loan from a direct lender instead of a credit broker. Here are a few:

  • If there are any problems or concerns about your loan, you can get in touch with your lender directly instead of through your credit broker.
  • Your personal details won’t be shared with any third parties.
  • You won’t have to pay extra for the credit broker.
  • Your application will probably be processed quicker, and you’ll probably receive the funds faster as well.
  • You’ll know who you’re borrowing money from.

Cashfloat acts primarily as a direct lender, meaning you get all the benefits of direct lending from us. We always try to lend directly first. We can, however, also act as a credit broker. If we’re unable to approve you for a Cashfloat unsecured direct loan, then (with your permission) we can pass on your details to other companies that may be able to lend to you instead.

What are the alternatives to an unsecured loan with poor credit?

Taking out a loan is a serious responsibility and is something that should never be taken lightly. It’s always a good idea to take a look at the alternatives and see if there is a better way for you to meet your financial needs.

Here are some of the alternatives to unsecured loans that you can go for:

  • A secured loan or a guaranteed loan: Getting a secured loan or a loan with a guarantor will probably work out cheaper for you. Generally, these loans come with a lower interest rate and cost less as a result. It may, however, take longer to get approved for one of these loans, and you’ll also need to provide an asset as collateral or someone who will be your guarantor. If you need the money fast, then these loans won’t be ideal for you.
  • Ask your workplace for a wage advance. Some companies, like Walmart in the US or Tesco in the UK, have existing wage day advance schemes. If your workplace doesn’t have a scheme in place, you can still ask your employer if they will give you a wage advance.
  • Ask family and friends for an interest-free loan. Remember to put your agreement in writing if you borrow money from family or friends. As well as agreeing on a repayment plan, you should also agree what will happen if you pay the money back late or can’t afford to repay it.
  • Borrowing money from a credit union. These institutions offer loans at low rates, and they provide loans for emergencies. You will need to join the union first, however. Which will mean proving that you’re eligible. Not everyone is eligible for a loan even if they can join as well. There may also be borrowing conditions.

What is an unsecured line of credit?

An unsecured line of credit (LOC) is different to an unsecured loan. Loans are provided as a fixed amount in a one-time payment. A line of credit, on the other hand, is more open ended and more like a credit card. Lines of credit are commonly used when someone needs to borrow money, but they’re not sure how much they need to borrow and when.

With a line of credit, the borrower will be able to borrow funds up to a certain amount (the credit limit) during a specified period of time. The customer can withdraw funds on multiple occasions, when they require them, and they can withdraw as much as they’d like within the credit limit. They tap into the line of credit repeatedly and repay the money when they have it available. After repayments are made, they will be able to borrow from the line of credit again, up to the credit limit.

Interest is charged as soon as money is withdrawn against the line of credit, and the line of credit will have to be paid off within the agreed period.


Who can apply for a loan with Cashfloat?

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

  • Be 18+ years

  • Be a UK resident

  • Have a steady source of income

  • Have a UK bank account

What can I use an unsecured loan for?

Secured loans are normally used to help with larger expenses, such as home improvements, buying a car or debt consolidation. Unsecured loans, on the other hand, are generally used for smaller expenses like appliance repairs, vet’s bills and unexpected domestic bills. You don’t have to provide any assets as collateral to get an unsecured loan, like you do with a secured loan. A homeowner loan is an example of a secured loan because a person’s home is used as collateral.

Click here to complete your unsecured loan application today.

How long can I take out my loan for?

Cashfloat provide unsecured payday loans with a shortest possible repayment period of three months and a longest repayment period of nine months. The amount of time you’ll borrow for will depend on the amount you borrow and your personal preference.

Paying your loan back quickly, say over 3 months, will reduce the overall cost of the loan. However, making your monthly payments over a longer period, say 6 months, will mean the monthly payment amounts are more manageable. For some loan amounts, there are restrictions to the repayment periods we can offer. We can’t offer three month repayment periods for loans over £900, for example. We do, however, leave it up to the customer to decide what will work for them as much as possible.

You can use our loan calculator to see your borrowing options.

Can I repay my loan early with Cashfloat?

If there’s been a change to your personal circumstances, and you would like to repay the loan early, you can with Cashfloat. We won’t charge you any fees or introduce any penalties if you do. If you pay back the loan earlier than planned, you also won’t need to pay as much in interest charges, and this will save you money overall.

At Cashfloat, we encourage our customers to pay off their debts as soon as they can and to save money by doing so.

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

Whenever you borrow money, if you see that you won’t be able to make a loan repayment on time, it’s essential to contact your lender and tell them. That’s the same with Cashfloat. If you’ve borrowed from us and you’re struggling to make a repayment, get in touch.

Sometimes lenders will charge extra fees for missing payments, which is something you’ll want to avoid. If you contact your lender, they also may be able to reach an agreement with you that allows you to make repayments under more favourable conditions. They may even grant you a payment holiday or charge a lower interest rate, for example. For impartial financial advice, go to

Remember: Before applying for a loan again, it’s important to carefully consider your personal circumstances and ensure that you’re fully capable of making monthly repayments. Missing payments or defaulting on a loan could harm your credit score. It could even result in county court judgements (CCJs) being made against you or other legal proceedings taking place.

Can I apply for an unsecured personal loan from Cashfloat?

Yes! Cashfloat offer small personal loans, and these are also unsecured loans. Our unsecured small personal loans are available for amounts ranging from £1,000 to £2,500, and you can make repayments over six or nine months.

Have a look at Cashfloat’s small personal loans here.

Where can I compare loans?

You can compare loans on our partner site Choose Wisely. Here, you’ll be able to compare loans from a market leading panel of Financial Conduct Authority (FCA) approved short term lenders. You’ll be able to compare lenders and see how much it will cost to borrow from each one. You can also get information about other loans, such as unsecured loans and secured loans.

How can I improve my credit score?

When you apply for a loan, responsible lenders will use credit reference agencies to look at your credit file and get a credit score for you. Their decision about whether they will give you a loan or not will depend to at least some extent on the information in your credit file and your credit score. For this reason, it’s always a good idea to try and maintain a good credit score or improve it if you’ve let it slip.

Here are some tips on how to improve your credit score.

At Cashfloat, we look at your credit score, but we also look at much more than this when you apply for a loan. If you demonstrate that you can afford repayments despite having a low credit score, we’ll be happy to fund you a loan. So feel free to apply, even if you’ve got a poor credit score.

How to apply for an unsecured loan

Applying for an unsecured loan is easier than applying for a secured or guaranteed loan because you don’t need to find a guarantor or an asset to secure the loan against.

To apply for a unsecured short term loan with Cashfloat, click on the apply now button above and begin the application process. If you’re over 18 years of age, a UK resident with a UK bank account and you have a steady source of income, then you can apply. Make sure you enter all the details correctly to get your application processed as quickly as possible.

We provide fast decisions on loan applications, with most decisions provided within 30 minutes. If your loan application is approved, the money should also be in your bank account within an hour*. We offer flexible repayment plans as well and we always consider applications from people with poor credit scores.

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
Instalment 1
Instalments 2 — 5
Instalment 6