Cashfloat's Payday Loans

We're a direct lender, which means we process your application from beginning to end. All credit scores are considered and guaranteed same-day funding on all approved loans.
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%. All our loans are available for 3 to 9 months - rates between 295.58% APR and a maximum APR of 1294%.
Warning: Late repayments can cause you serious money problems. For help, go to
It takes only 2-3 minutes to apply
Yes, we are a direct lender
Our full FCA authorization number is: 714479
No guarantor is needed

Looking for Payday Loans Online?

A payday loan can be the solution you need to cover life’s unexpected situations. At Cashfloat, we can help you get a decision fast. Our simple application takes just minutes to complete. We can process your application the same day, allowing you to quickly get the cash you need, even with bad credit history.
Instant quote and same day funding
Apply 24/7 and get an instant initial decision. We guarantee to fund your bank account the same day you’re approved.
Repay early with no penalty
Repay early (either a partial payment or in full) at any time to save on interest. We never charge an early repayment fee.

What our customers say

Payday loans from a direct lender

At Cashfloat, we believe that everyone should be able to access affordable credit in an emergency.

Can I apply for a payday loan?

To apply for a loan with us, you need to:

  • Live in the UK
  • Have a UK bank account
  • Be 18+ years old
  • Have a steady source of income (salary, pension, benefits, etc.)

We may not be able to approve you if you are unemployed, you work only part-time, your sole income is from benefits or if you are a pensioner. If you meet all our criteria, click below to apply:


When should you borrow payday loans?

You should use payday loans online for urgent but  temporary cash-flow problems, such as if you:

  • Receive a one-off reduced salary, 
  • Need to pay an urgent bill or an overdue debt
  • Need extra income during holiday seasons, 
  • Must cover an emergency medical bill. 

When should you avoid borrowing pay day loans?

You should never use payday loans to pay recurring bills (like utilities or your rent/mortgage), for luxury items, or for non-essential expenses. Other common reasons people use these short term loans when they shouldn’t are:

  • To pay off other debts. It rarely makes sense to pay off other debt with an online payday loan as the interest rate is so high. Instead, look into a debt consolidation loan
  • To pay your overdraft. Once in a while, it can be OK to cover your overdraft with a loan. Still, if this happens constantly, you should cancel your overdraft to make it impossible to go overdrawn.

Are payday loans bad?

Are payday loans safe?

In 2015, the Financial Conduct Authority introduced an interest cap on payday loans that forever changed the UK payday loan market. Now, when you borrow a loan online, the interest can’t exceed 0.8% per day, and you can’t be charged more than double the amount borrowed.

Default fees were also capped to £15 per loan, although if a lender takes legal action against you, legal fees will be added to your balance. We’re not saying payday loans are good for you – but there is much more regulation these days. Still, they’re expensive and should only be used in emergencies.

How do I know if a payday lender is legit?

It’s also important to check whether the site is authorised to act as a broker or a direct lender. Brokers can only refer your application to someone else, whereas a direct lender can lend to you directly.

Cashfloat is both a direct lender and broker. If we can’t fund you a loan, you can activate our free brokerage service, and we will try to find you an alternative lender.

Payday loans are expensive! If an alternative is available to you, please check if it is more affordable before borrowing payday loans. Please remember that late repayment can make your loan more expensive. Always ensure you can afford the loan repayments of any loan you apply for.

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Who is Cashfloat?

Cashfloat is the flagship brand of the Western Circle Group. Our company was founded in 2014 to help hard-working people overcome short-term financial emergencies. Most of our customers are declined by their own banks and other mainstream lenders due to bad credit history.

We specialise in fast online credit for all bad, fair or good credit scores. We’ve built a custom decision engine that considers many factors, not just your credit score, to increase your chances of approval.

More about us

Why Choose Cashfloat?

We understand that time is money. We aim to get you a loan in the fastest time possible, and we will stop at nothing to achieve this. Our application form is available 24/7 on all devices, and our website uses accelerated mobile pages for an enhanced experience on mobile devices.

We were one of the first payday loan lenders to start using Open banking in 2020. In January 2022, we revisited the entire loan application process and streamlined it for maximum efficiency and speed. We now process hundreds of documents (such as payslips) through our secure customer interface.

But the most crucial part is that we offer flexible repayment terms. Our easy-start feature adds more time for you to repay your loan without adding any additional interest. More importantly, we don’t force you to wait until the end of the loan duration to pay your loan. You can always pay early and save yourself on interest. You can read more about how our loans work here:

How our loans work

Will my payday loan application be accepted?

We can’t guarantee that you’ll be accepted for a payday loan, as they are subject to credit and affordability assessments. To increase your chances of approval, make sure:

  • You are registered to vote at the address that you are applying with
  • You’ve provided complete information in your application form, including work details (we will not use these to contact you during the application process)
  • You’re not applying with numerous other lenders – this will decrease your chances of acceptance.
  • All supporting documents are clear and easy to read.

One of the most important things we’ll be checking is your affordability. If you’re unsure whether you’ll be able to afford the loan, try our free affordability assessment tool.

Check my affordability

How our Online Loans Work

Cashfloat is a consumer favourite for direct payday loans in the UK.

We’ve worked hard to create a high standard for fair borrowing from the beginning. We understand how frustrating it can be when lenders repeatedly decline your loan application. We are committed to full transparency, and fair and flexible loan repayments. We are a direct lender who puts our customers’ needs and requirements before ours. Always.

Here are some frequently asked questions:

What is a payday loan?

‘A payday loan is a relatively small amount of money lent at a high-interest rate on the agreement that it will be repaid when the borrower receives their next wages’ (Oxford dictionary). Payday loans tend to be between £100 and £1,000, with average APRs of over 400%. They are paid in instalments on the borrower’s salary day.

Are payday loans and short term loans the same?

Payday loans fall under short-term loans as they’re typically borrowed over a few months only. When payday loans were introduced back in the early 2010s, lenders typically offered them for just one month until the customer’s next payday. Still, almost all payday loans today are synonymous with short term loans in that they’re repaid over several instalments instead of one lump sum.

How long does the process take?

The process can take as little as half an hour to as long as 4 hours from the moment you apply until the money reaches your bank account – assuming that we have all the information we need to make a decision. We will contact you within one business day if we are missing any information. If we don’t hear back from you within three days, we may cancel your application. You can always speed up the process by calling 0203 757 1933 (option 1) and talking directly to an underwriter.

What happens if I can’t pay back my loan?

If you face difficulties paying back your loan, you’ll need to contact us immediately. We’ll work togetherto arrange a repayment plan that suits you. The quicker you contact us, the more we can do to help you pay back your loan in a way that works for you while minimising the impact on your credit file history.

Will borrowing from payday loan lenders affect my credit score?

Yes. Once you borrow a payday loan, it will show up on your credit file, which can affect your credit in various ways. Repaying your loan on time will increase your chances of being approved for future credit (especially other payday loans). However, it may decrease your chances of being approved for more significant, long-term finance (such as a mortgage). This is because it could indicate that you have trouble managing your finances.

It’s important to note that simply applying for a loan will not affect your credit score, as most lenders today only perform a soft credit check to assess your application. At Cashfloat, we perform soft and hard credit checks. For more information about this, you can contact us.

How much do you need?
Other amount

Need a payday loan quickly?
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Money Borrowed
Repayment total:

Repayment period: 3 months, 2 monthly payments of: £ 246.66 , last month repayment of: £ 246.67