Payday Loans

Cashfloat is a payday loans direct lender, which means we process your application from beginning to end. All credit scores are considered, and we guarantee same-day funding on all approved loans up to £1,500. Pay as early as you want or in up to 9 easy monthly instalments.
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 moneyhelper.org.uk
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 with Cashfloat 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. Cashfloat will never charge you a penalty for paying your loan early.
Apply now – no application 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 with you?

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

  • Live in the UK
  • Have a UK bank account
  • Be 18+ years old
  • Have a regular salary

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

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Reasons to choose Cashfloat

Our payday loans are simple, straightforward and convenient. Here are some reasons why a Cashfloat loan will work for you.

  • We are the only UK lender that offers cashback on your loan
  • We are a direct lender and you will get the money from us directly
  • We have flexible and affordable repayment plans
  • We offer same day funding guaranteed on approved applications
  • Our customer service agents are all UK based
  • We have live support available at any time on your loan journey
  • You can repay early anytime and save on interest
  • You can borrow our loans for up to 9 months
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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 from Cashfloat to pay recurring bills (like utilities or your rent/mortgage), for luxury items or non-essential expenses. Other common reasons people apply for our 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 Cashfloat loan. Still, if this happens constantly, you should cancel your overdraft to make it impossible to go overdrawn.

Are payday loans bad?

Payday loans are a valuable (and sometimes the only available) financial tool for people who use them responsibly. Banning payday loans does not always have a positive effect (as seen from studies on the 12 USA states where they’re already prohibited). Banning payday loans will remove the buffer that can help people, including thousands of our customers, to cover emergency expenses.

Without authorised payday loans, people may be driven to loan sharks – a far worse option. So, instead of banning them, the Financial Conduct Authority decided to regulate the industry carefully.

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. We started Cashfloat after these regulations came into effect, so our loans have been regulated by the FCA from the beginning.

How do I know if a payday lender is legit?

To check if a lender is legit, search the Financial Services Register for their name, and make sure the website that comes up is the same as the website you are on.

It’s also essential 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 like Cashfloat 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, 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.

Check out alternatives

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. Cashfloat’s developers have built a custom decision engine that considers many factors, not just your credit score, to increase your chances of approval.


More about us

Cashfloat’s Cashback Program

Did you know? In December 2022, we introduced our new cashback program! Customers qualify for 5% of their loan interest in cashback on their payday loan if they meet the following requirements:

  • The loan has accumulated a minimum of £50 interest.
  • No payments have been missed for the lifetime of the loan
  • A survey is completed which is sent to you a week after the loan has been repaid.

You can check if you qualify for cashback in your personal login area.

Read more about cashback

Will my payday loan application be accepted?

Cashfloat can never guarantee approval 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

Get your loan now!

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 small unsecured loan (usually between £300 and £1,500) borrowed over a short term (usually less than nine months) at a high interest rate. They’re called payday loans because the repayments are debited on the borrower’s salary day. They used to be obtained in payday loan shops, but these days they’re more commonly borrowed online from direct lenders like Cashfloat.

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. For example, Cashfloat’s loans are payable over up to 9 months.

How long does the process take with Cashfloat?

Cashfloat’s application form only takes 3-5 minutes to complete. Once the application has been submitted, you’ll receive an instant initial decision. If your loan has been pre-approved, we may need additional documentation to reach a decision. You’ll be prompted to upload the documents online, but if you’re struggling, you can always send them by email instead to client-service@cashfloat.co.uk. You can always speed up the process by calling 0203 757 1933 (option 1) and talking directly to a loan adviser.

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

If you’re struggling to pay back your Cashfloat loan, you’ll need to contact us immediately. A dedicated account manager will discuss your situation and help you set up a suitable arrangement. We recommend that you contact us before the repayment due date to minimise the impact that non-payment can have on your credit file.

Will borrowing from payday loan lenders affect my credit score?

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. Once you borrow a payday loan, the credit check 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.

How much do you need?
Other amounts

Need a payday loan quickly?
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£500
Money Borrowed
+
£190.79
Interest
=
£690.79
Repayment total:

Repayment period: Three months, Two monthly payments of £ 246.66 , last month repayment of: £ 246.67

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