Loans For Part Time Workers

- by Becky Hall

More part time workers are applying for payday loans to help pay for unexpected bills. Find out how many part time workers apply and why this might be!

Loans for part time workers explained - Cashfloat

Working irregular and part-time hours is common, especially if you’re a parent, a student at university or in a position where your hours fluctuate every week. Unfortunately, most lenders may see part-time workers as more of a risk because they don’t have consistent work or because of their lower income and are therefore less confident that you will manage to make the loan repayments.

Who is considered a part-time worker?

There’s no real definition of a part-time employee. But generally speaking, a part-time worker is someone who works less than 35 hours a week. This could refer to someone who works either 10 hours per week or even 34 hours a week and still be considered a part-time employee.

Part-time employees typically work on contracts and bill their employers by the hour. They also might not be able to take advantage of benefits that full-time employees enjoy — such as private health insurance.

Why do part-time workers struggle to borrow money?

The issue with part-time workers borrowing money online is mainly to do with generating enough income to afford the loan repayments. So obviously, the more hours you work a week, the more favourably a payday lender will view your application.

19830 part time workers have applied for a loan in the past year - Cashfloat

How to get approved for a payday loan as a part-time worker

Many people wonder, “Can i get a bad credit instalment loan if i work part-time?”. The answer is yes! But you must meet the eligibility criteria below before applying for a loan.

  • Be 18 years +
  • Be living in the UK
  • Have a steady source of income (this may include benefits and pension)
  • Hold a valid UK bank account

Cashfloat payday loans for part-time workers

Apart from meeting our eligibility criteria above, you must be able to afford the loan repayments. You can check this by using our loan assessments affordability calculator. It considers your net salary and monthly expenses against the number of dependents you have. The disposable income you have leftover is then used to measure whether you can afford the monthly repayments on loan.

As a responsible lender, Cashfloat will only approve applicants who can afford the loan. Borrowing money that you can’t afford can cause you serious money problems and have an adverse effect on your credit score.

Payday loans for part-time workers are intended to help people out of difficult situations. They should not create more stress and hardship out of exorbitant, unpayable interest rates and fees.

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About The Author
Becky Hall
Becky transitioned from accounting to financial blogging unexpectedly after earning a first-class degree in Business and Accounting. Initially a freelance bookkeeper, Becky’s exposure to frequent cash flow issues among clients sparked her interest in financial education.
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* Cashfloat terms and conditions apply. Applicants must be 18 or over. All loans are subject to affordability, applicant verification and traditional credit checks via various national databases by Cashfloat responsible lending policy. In most cases, loan decisions may take up to 30 minutes during office working hours. If your bank does not support Faster Payments, funds will be sent to your account the same day as approval so long as you’re approved by 16:30.

*Money will be funded to your bank within 1 hour of approval - Mon-Fri during working hours.

Representative example: Borrow £700 for 6 months. 1st monthly repayment of £168.45, 4 monthly repayments of £224.60, last monthly repayment of £112.20. Total repayment £1,179.05. Interest rate p.a. (fixed) 185.39%. Representative APR 611.74% Our APR includes all applicable fees. Daily interest is capped at 0.798%.

Warning: Late repayment can cause you serious money problems. For help, go to