Payday Loans

Let’s make things simple. We provide instant payday loans online. We are a direct lender and our pay day loans rate is among the best payday loans in the UK. Apply now and get an instant decision and same day funding. No guarantor is needed.

Instant payday loans

Our instant loans are available online for people living in the UK. Here at Cashfloat, we won’t hold any bad credit history against you. If you show us that you’re trying to improve, we are happy to consider your application. We have already helped over 18,000 people in the UK to conveniently get to payday with the money they needed.

We’ve developed brand new technology that makes instant loans accessible for more people in the UK, even with bad credit. The technology is so good that even Call Credit have mentioned it in their press release. We strongly believe that with our advanced technology and transparency, the payday loans UK market will change for the better – with Cashfloat leading the change.

Best payday loans

We aim to be the best loan company in the UK. We are an FCA-authorised direct lender, and we love to help. We go above and beyond to provide our customers with the best payday loans options. Please remember, the best loan is the one you don’t need. But if you need an instant loan we want you to work with us. We want to provide you with the best payday loans options in the UK. We want you to join our happy customers, get us a positive review and get back on track with your financials.

• Cashfloat instant payday loans are designed to help people handle emergency and unexpected expenses.
• Cashfloat payday loans are offered online via a highly secured website.
• Cashfloat payday loans are often cheaper than an unauthorised overdraft with your bank.
• Cashfloat payday loans are available in the UK for people with bad credit.
• Cashfloat is a direct lender! We give you the loans directly.

Cashfloat’s payday loans are designed to help people in the UK handle emergency and unexpected expenses, particularly unexpected bills, auto repair bills, house maintenance, home improvement and medical bills. We understand the urgency of these moments and always try to help fast. That is why we provide free of charge same day payout and instant decisions with no extra fee. Apply now and if approved you will get your money today.

We believe that we are the best lender in the UK. Dare to compare our loans to other lenders? we encourage you to compare. Ask any other lender in the UK about the following:

If you are looking for the best payday loan in the UK, you have come to the right place. Payday loans are simply a product. And like any other product, you need to consider whether you can afford it or not. Look at the product features and compare them to other alternatives available to you; only if the product fits your needs, should you get it. When taking a payday loan online, you are renting money. Watch this “Save With Dave” video to help you find the best pay day loan for you and your needs.

Cashfloat is a brand new payday loans lender. We aim to change the pay day loans market with new technologies, a new level of service and with fundamentally good business ethics. Many new loans companies are trying to copy our online strategy, but our customers already know that not every new lender website is comparable with Cashfloat. Many people with bad credit that got a loan from us consider Cashfloat as the new payday loan lenders bad credit. It makes us proud to be able to help.

Payday loans should be used as a quick remedy for unexpected expenses or bills, not as a long term solution. In essence, a payday loan is a short term finance made available to you by an authorized direct lender.

A payday loan is a good solution as long as it is cheaper than the alternatives. Use it, and as soon as you can, pay it back. The best lenders in the UK, like Cashfloat, will allow you to repay as early as you want without any extra cost.

Instant payday loans is a term referring to the speed of decision and money payout. All our payday loans in the UK can easily be classified as instant loans. We always try to do same day payout with no extra fee, and our decision takes around three minutes. Some people called it “quick loans” or even “small loans”, but here at Cashfloat, it is simply called science. We have reinvented the science of instant lending so we can help you fast with our instant loans when a needy moment appears.

When searching for a loan online, people in the UK use a wide variety of terms. Some of the most popular search terms are the specific amounts of money that they want to borrow. Searches like 100 loans, 200 loans or even 500 loans are extremely popular. As a trusted direct lender, we wanted to show online credit seekers the full details about the amount they are looking to obtain. The table below illustrates the most common examples:

Amount	Total Repayment Amount*	Interest Fees	Comment
100 loan	£146.22	£46.22	100 pound loans are very common in the UK. Please be aware if someone is offering you 100 loan no credit check as this is not allowed by the FCA. You can get often get a 100 guaranteed loan with bad credit with companies that do perform a credit check.
200 loan	£292.44	£92.44	A 200 pound loan costs as little as £92.44 with Cashfloat. Although we do not offer a 200 loan no credit check, we do accept applications for a 200 loan bad credit.
300 loan	£438.64	£138.64	300 Loans are common in the UK. If you are approved for a 300 payday loan, you could have the funds in your account in as little as three hours.
500 loan	£731.08	£231.08	500 loans should be taken responsibly and when you know you can repay. A 500 loan no credit check is illegal and can get you into deeper financial difficulty. With Cashfloat, a responsible lender, you can get a 500 loan today.
800 loan	£1169.71	£369.72	800 loans are often associated with 800 loan mart. For an 800 payday loan from a responsible and FCA approved lender, apply now for your instant payday loan from Cashfloat.
1000 loan	£1462.16	£462.16	1000 loans bad credit are difficult to come by because some lenders are wary to lend larger amounts of money. At Cashfloat, we are happy to consider loan applications for a 1000 pound loan.

*All calculations provided are as an example only and based on an APR of 997%.

Cashfloat payday loans in the UK offer instant credit of up to £1,100. We are fully authorised and regulated by The Financial Conduct Authority (FCA Permission License: 714479). We offer low APR and the ability to pay early with no extra fees. The amount offered to new customers may vary. Always borrow enough money to cover your needs – you don’t want to have to take out another loan because the first wasn’t enough.

Cashfloat represents a new generation of direct lenders in the UK. Our goal is to help and protect customers in the UK when applying for payday loans online. We understand that sometimes things are not working as planned, and we promise to help. So if you can’t repay your loan on time, just give us a call or use our online chat feature. We are more than happy to work with you to make an affordable plan. Always stay in touch, we will work together.

When looking for a good payday loan in the UK, you want to ensure you are working with a reputable direct lender. We wrote a complete payday loans safety guide for you – it’s worth your while to read it. When trying to select a loan provider in the UK, make sure to work only with companies that list all their contact details on the website (phone, chat, email). As well, ensure that they explicitly mention whether they are a broker or a direct lender. Lastly, look at the company’s FCA authorisation number. Good companies would always make it visible and make it a link so you can quickly click and verify their identity. To make it easier for you to compare, we put together a comparison matrix with some leading payday loans direct lenders like Wonga, Quickquid, Payday UK and Piggy Bank.

Cashfloat is one of the best payday loan companies for bad credit in the Uk. Bad credit pay day loans are loans given to people with bad credit, who often have no other option when they need a loan. Your credit rating in the UK has a major impact on your ability to get loans from banks and mainstreet financial institutions. These institutions base their decision on your credit score, leaving millions of people in the UK in constant search for alternative credit. For some, payday loans may be the only answer. However, there are many ways to improve your credit score, and it is highly recommended that you look into them. A good credit score can do no harm.

The good news is that you can get a loan online with bad credit in the UK. New direct lenders like Cashfloat have invented a new financial model that is based on affordability and intentionality rather than just your credit score. When you apply for a loan with Cashfloat, we assume that your credit score is not perfect. We run a more advanced analysis, designed to determine your affordability to repay the loan, and – just as important – your intention. You can apply now for payday loans for bad credit from direct lender.

'Don't judge a person by their credit score' - Cashfloat.co.uk Click To Tweet

Here is something everybody needs to consider: if you can’t tell within ten seconds of looking on the website if it belongs to a direct lender or a broker, it is most probably a broker. Most likely, it is a broker that is trying to hide the fact that it is not a direct lender. Many people are searching for terms like: “payday loans UK from direct lender” or “payday loans direct lenders only” because they simply want to work with direct lenders only. Many brokers try to get this traffic by saying something like “not a direct lender” instead of just being transparent with the people.

Reading online payday loan lender reviews can really help you build a picture of whether the company is trustworthy or not, and what problems you may encounter if you choose to go ahead with them. You can then decide if the advantages outweigh the disadvantages presented or not.

A pay day loan is a small, unsecured loan that is lent at a high rate of interest, with both the principal and interest repaid on a single date. The average payday loan is currently around £270 for 30 days. In the UK, the payday loan industry has experienced rapid growth between 2008 and 2012 with market worth of approximately £2.2 billion in 2012. In 2013 a comprehensive report from the The Office of Fair Trading (OFT) suggested that much of this growth was derived from unfair conduct, irresponsible lending policies and aggressive collection practices.

We know something that many lenders and brokers in the UK consumer credit market fail to realise. We know that by putting our customers at the very heart of our business, we are doing the right thing, and we know that people in the UK will never forgive lenders that abused them for years. Our vision is to create a completely transparent pay day loans market in the UK, with integrity and fair conduct at the core. Loans like Wonga used to be the most common, but we think that smaller, newer lenders can be a lot more trustworthy. Payday loans online are in high demand, and we are here to fill that gap with our reliable and trustworthy service.

Whilst pay day loans traditionally last until the customer’s next payday – generally under a month, more and more companies are now offering 3 month payday loans. These loans are repaid with a smaller payment due each month instead of one lump sum at the end.

• Advantage – the customer is more likely to afford the repayments.
• Disadvantage – there is more interest to pay, as the customer will have the loan for longer.

Depending on the amount requested, Cashfloat loans can be repaid with up to four monthly instalments.

Here is a representative example for a 400 pound loan* with Cashfloat:

Loan Period	Interest	Total repayment amount	Monthly repayment	Comment
1 month loan	£92.80	£492.80	£492.80	1 month loans are suitable for a quick cash injection when you know you can repay immediately. A 1 month payday loan is usually used for a one-off emergency that is unavoidable.
2 month loan	£170.36	£570.36	£285.18, £285.18	The interest on a 2 month payday loan often be cheaper than a 3 month loan, especially if you’re looking for 2 month loans with no credit check.
3 month loan	£222.32	£622.32	£207.44, £207.44, £207.44	A 3 month payday loan is a one of the most common short term loans looked for in the UK. 3 month loans can enable borrowers to repay a loan in a more manageable way, as the payment is spread out.

*All calculations provided are as an example only and based on an APR of 997%.

Applying for a Cashfloat loan will only take you a few minutes. We want you to apply for a loan with us only if you are sure it’s the right loan for you. While you can complete our simple loan application quickly, we need you to take the time and provide all the required information. Our team is available for you over the phone, email and live chat.

Who actually uses payday loans? Here at Cashfloat, we have carried out research into who our consumers are, enabling us to ensure that our services are tailor made to our customers.

Recent research we made based on data from over 160,000 pay day loan applications shows that a shocking number of people in the health and social care sectors are turning to payday loans to bridge financial shortfalls. NHS Nurses, health care assistants and professional carers were found particularly likely to feel the need to apply for a payday loan.

The research reveals as well that many middle class people were forced into using these facilities as their disposable income fell and their mainstream credit facilities were withdrawn. Employers took advantage of a soft employment market to offer young people ‘zero hours’ working arrangements, which meant that they had minimal income over many weeks. The Government got tough with people who were unemployed for a long time and those who they felt were using unemployment as a lifestyle. These people suddenly needed to fill the gap that being moved off government benefits suddenly created. Suddenly, the demand for pay day loans grew exponentially.

The need for a payday advance in the UK has risen sharply in recent years due to the increase in the cost of living. Wages are usually paid at the end of the month, leaving a growing amount of people in a constant struggle to pay their bills before payday. Payday advance loans are designed to get you through to payday. You can get them online with direct lenders like Cashfloat. A payday advance online is simply a pay day loan, to help you pay your bills and keep your credit score intact till payday. But just like a payday loan, you want to understand the total cost of borrowing and ensure it is cheaper for you than paying your bills a few days later.

How do payday advance loans work? Well, Let’s say you got a big bill that’s due a little before your payday. You can’t quite cover it right now, and you don’t want to impact your credit score negatively. Your friends are a bit tight as well this month, and the bank is not willing to increase your overdraft allowance. In this situation, you can start searching for payday advance loans. In the UK many people refers to payday advance loans as wage day advance.

Many people search the web for the term “payday advance near me” But today, these loans are offered by direct lenders online. You don’t need to go to an actual money shop to get your cash. As well, what if it’s late at night, and you want to get an instant decision about your loan? Another advantage of obtaining your credit online is that it allows you to easily compare lenders’ features and find the right financing for the current need.

Money loans are small amounts of money available for you to borrow, usually with interest. When looking for a cash loan, it is important to consider the different types of loans available. Money advance loans are paid straight into your bank account, or you can obtain them in a local money shop. To find shops offering money loans, search for “money loans near me” on Google. But even easier than that is to apply for money loans online.

Money loans in the UK are easily accessible online. The advantages of applying for your credit online is that you can get your money today. Here at Cashfloat, money loan applications are processed instantly. If you are approved, the money can be in your bank account within less than an hour. It’s as simple as that. We do not charge extra fees for same day funding and we go above and beyond to help you get cash that will help you solve a financial need fast. Read on for a fun infographic with some interesting statistics you’ve been curious to know about.

Money loans are usually used to cover emergencies. At Cashfloat, we offer loans for a variety of circumstances. For example, if you have lost your job and need some extra cash urgently. We understand that in the heat of the moment you expect fast credit decisions. Our lending technology’s average decision time is less than 70 seconds, even for people with a poor credit score. Our affordability algorithms are optimized to check if the money loan would help you, and if you can afford to repay the loan, and not only if your credit score allows it.

Choosing a money lender can be tricky. There are hundreds of companies that claim to be trusted money lenders in the UK, each offering their interest rates and services. Many money lenders operate from money shops, but for a more private experience, you can find money lenders online. Like many online services, you can start and finish the process while going about your daily routine. No need to make a trip out to the loan shop. Before applying with any money lender, please ensure they are fully FCA authorised and preferably a direct lender as well.

Another advantage of payday loans is that it is often cheaper than an unauthorised overdraft. New Which? research has shown that it is cheaper to take out a payday loan than go into the red. For example, assume that you make a payment that takes you into an unauthorised overdraft. You then make a further payment while overdrawn and are overdrawn for two days a row in a month. The table below shows how much you will be charged for this. Compare this to a payday loan where the interest rate is a capped at 0.8% per day, there are no extra fees and no monthly rate.

*If overdrawn for two days a month
Source: Which report

Borrowing £200 for up to 28 days, you can be charged up to £90 if you use a bank overdraft. On the other hand, the maximum amount the FCA allows payday lenders to charge is £22.40.

This research has prompted Andrew Bailey, the CEO of the FCA, to propose regulating bank overdrafts, with some MP’s calling for a cap on overdrafts. They argue that since the FCA has capped payday loans since the beginning of 2015, expensive overdrafts should be regulated in a similar fashion.

In Cleveland, Tennessee, 1993, William Allan Jones rejuvenated the idea to offer small short term loans in return for a post-dated cheque. The cheque was written for the combined value of the loan and a service fee – a practice that had not been seen for over half a century!

The first payday loans – Check Into Cash

Based on this new business model, Jones founded Check Into Cash. In effect, Jones’ critics accused him of buying the State legislation that allows him to do business. They claimed that by spending large amounts of money on state legislators, he managed to convince them to change the law. These laws that prohibited charging overly high interest rates were now abolished – something the council members may be regretting.

The emergence of the pay day loans industry

In 1999, just six years after Mr. Jones resurrected the deferred payment industry, (commonly known as the payday loan industry), payday lenders in the USA issued about $8 billion worth of payday loans. In 2004, the industry made $50 billion in loans, a staggering 525% increase in just five years. To put things into focus, it has been estimated that, today, there are more pay day loan stores in the state of California than there are McDonalds and Burger King restaurants combined.

The trade soon became a worldwide phenomenon, reaching as far as Australia and hitting the UK in the mid noughties. The product was eagerly welcomed to the market, and has been growing incessantly ever since.

The history of credit and banking goes all the way back to ancient temples, where merchants would leave their goods at a central safe-hold for safekeeping. Banks then developed into large and impressive institutions that catered for the wealthy, upper-class members of society. Most regular citizens were still unable to open accounts or take out loans. Only in the last fifty years, banking institutions became what they are today, open to all parts of society, enabling millions of people to open accounts and borrow money.

Payday loans started in retail shops on the high street. Lenders argued their high interest rates, claiming that the issuing cost of payday loans are very high. However, the biggest transformation that the payday loan market has experienced occurred after it took off online. Lenders now claim their high rates are because of the higher risk taken when lending to someone they have never met, as well as the new demand for online marketing campaigns. Additionally, online loans entail credit checks, bank verification checks, fraud prevention safeguards and other regulatory requirements, such as anti-money laundering and responsible lending checks – just like the shop based lenders.

The online market is growing faster than the store-based market, and is becoming of increasing importance. This is because online payday loans are quick and easy to obtain. Furthermore, the Internet is now accessible through most mobile devices, making it the most efficient way of obtaining a loan.

How many people use payday loans in the UK?

In a study conducted by the ACCA in 2012, over twelve million short term cash advances, or ‘payday’ loans, were arranged in the UK. A total of £3.7bn worth of credit was extended in this way and UK borrowers paid over £900m in interest and charges. The table below shows the total value of payday loans lent in the UK from 2006 to 2012 in billions.

As you can see, the growth has been magnanimous. Consequently, the market’s regulators have been on high alert, imposing new restrictions on lenders in an attempt to help consumers.

What is the difference between a direct lender and a broker?

A direct lender is a company who processes your application and gives you money without you having to go through an intermediary. A broker will take your application and sell it to direct lenders. They normally charge a fee for this. The company that bought your application will then decide whether or not to lend to you. Be aware that brokerage firms tend to sell applications to more than one loan provider.

Although it may seem easier to just fill in one application form and let a broker take it from there, it is obviously much better to apply through a direct lender. This is because you can be sure that your details stay in one place, and are not passed around like a bag of popcorn. Cashfloat is a new direct lender in the UK. We are here to help people get a real world credit online.

Who are the new payday loans lenders in the UK?

With new FCA regulations, the payday loan market has become remarkably safer for consumers. For example, lenders are now limited to allow just 2 interest-only rollovers per loan. A rollover is paying interest only on a loan, and then ‘rolling the loan over’ and paying it in full the next month. Rolling over is a dangerous way to borrow continuously and can land you in a deep spiral of debt. The Telegraph reported in the summer of 2013 that 17 lenders out of the 50 inspected by the OFT were found to be actively promoting rollovers in marketing material. 12 or more consecutive rollovers were made for some payday customers in the most severe cases found.

How many people complain about payday loans in the UK?

The latest statistics released by the Financial Ombudsman revealed that complaints about payday lenders actually TRIPLED in the first 6 months of 2016 compared to the last 6 months on 2015. This prompted us to take a look at our own complaint statistics, and we discovered that the proportion of our customers who complained to the Financial Ombudsman actually went down! Cashfloat continue to break the trend, as people begin to realise that a moral and responsible payday lender can exist.

But what is really going on with these complaints? To give you a better look, we collected statistics from the previous few years about the number of new cases the Financial Ombudsman received about payday loans:

Complaints to the Financial Ombudsman about payday lenders

Financial Year	Number of New Complaints	% increase
2012	296
2013	542	83%
2014	794	46%
2015	1,157	46%
2016	3,216	178%

Did you spot that big jump at the end? To make it clearer, we broke down the data into quarterly statistics and present the resulting graph:

The results are pretty shocking – the number of complaints has really shot up recently. The prevalent theory is that this is due to an increase of awareness – which means that such atrocities were always going on, it’s just that people are now more aware that they can complain about them. Well, we’re glad that here at Cashfloat, we’re bucking the trend, and that our complaint statistics are going down despite the huge increases in the rest of the UK.

What are Wonga Payday Loans?

Wonga loans, to some extent, was a synonym for payday loans in the UK market before the FCA era. According to UK publications, Wonga raised huge sums of money in 2011 and decided to channel a lot of their profits into advertising. They swiftly, and somewhat amazingly, managed to obtain shirt sponsorship of three British football teams and started to blitz daytime TV viewers with ads, offering them swift and uncomplicated short term funding – without warning of the dangerous risks. A lot changed when the FCA took over the High-Cost Short Term Credit market. Leading newspapers in the UK have reported that the FCA forced Wonga and other lenders to pay back millions of pounds to their customers for irresponsible advertising and operating techniques. Although they have made a comeback, newer options on the market are making it harder for them to get back on the payday loan market pedestal. Cashfloat, on the other hand, was created with integrity at the base of its foundation. FCA regulations and treating customers fairly are core elements of our business. Are we like Wonga loans? No, and we don’t aim to be.

As all direct lenders are being regulated more thoroughly, most lenders are keeping to the strict FCA guidelines. So how can you tell the difference between a good lender and a very good lender?

A very good lender will:

• Stick to the rules
• Understand the logic behind the FCA principles
• Consider customers’ circumstances and build their organisation around those fundamentals
• Have unique TCF (Treating Customers Fairly) policies – ones that the FCA have not instructed them to put into place
• Have a professional and transparent website

We try harder to be the best for our clients. Unlike many other lenders, we do not measure our success by how many loans we do, but by how many customers we help overcome financial difficulty with our affordable and responsible loan

While the debate about payday loans in the US is ongoing, here at Cashfloat, our ultimate goal is to help and protect UK consumers when applying for payday loans online. Our entire business is based on fundamentally good morals, and we strive to offer our customers the best online credit product. 

Our dynamic payday loans allow customers to repay any amount as early as they want, saving them money on interest without any additional cost. Payday loan customers worldwide have been searching for the perfect payday loan product, and we think we have managed to create it!

There are so many different loan companies out there and they all offer loans with different rates and features. How can you make sure that the loan you apply for is the one that best suits your needs? There are lots of different details to consider when you compare different loan offers, including the interest rates, extra loan charges and what happens if you cannot repay it on time. There are, of course, several loan comparison websites available, but our investigations have revealed that most websites rank companies by how much they pay to be on the site. If you want to accurately compare loans, it’s best to check out each lender yourself. If you do want to save money and make your own comparisons, we suggest you read our updated 2016 edition of ‘The Cashfloat Payday Loan Comparison Guide‘ which contains all the information you need to know in order to effectively choose which loan is best for you.

Our security experts work around the clock to identify, prevent and eradicate scam attempts in the UK market. Unfortunately, the amount of scams in the UK is steadily growing. At cashfloat.co.uk, your online security is our priority. We’ve put together a few safety guidelines for you.

Take the time to look through our Online Safety Guide. It’s important to know how to stay safe while online and what warning signs to look out for.

1. If you get asked to pay something in order to get a loan from Cashfloat, IT IS A SCAM.
2. Genuine Cashfloat loans are only available through our website. If you would like to apply for a loan online with a responsible direct lender, you’re welcome to visit us at www.cashfloat.co.uk. If someone contacts you with a loan offer, it may be a scam!
3. Our staff are highly trained and professional at what they do. If something seems off and you are not sure if you’re dealing with the real Cashfloat, be safe and give us a call at our number below. Your online safety is our priority.

Are you Ready to Test Your Knowledge of Pay day Loans?

We’ve put together a quick quiz for you to check how much you know about payday loans. It covers a range of topics, including the history of payday loans, statistics and current regulations. We’re always looking out to raise awareness of how payday loans work, and our Payday Loans Quiz is a fun and entertaining way to learn. Feel free to take the quiz as often as you like here.

Your payday loan

We hope that by now you understand everything about Cashfloat instant pay day loans. If you feel that our loans are right for you, please apply now and get an instant decision. Cashfloat’s top payday loans are always with no guarantor. We provide credit for people that can repay it back on time. People with bad credit are welcome to apply. We aim to provide our customers with the best payday loans in the UK. Many people prefer to get a loan with us, simply because they trust us and love our service. But, we want you to know that we are not always the cheapest option available for you. We always try to provide you with the best loan for your needs. Thank you for your time and trust.