Hundreds and thousands of people have already chosen Cashfloat as the best short term lender in the UK. We are a boutique online lender that treats customers fairly as a fundamental part of our business conduct. We were selected as one of the world’s “50 most trustworthy companies”, and we get fantastic reviews every day. Our mobile application is by far more advanced than any other short term direct lender in the UK and allows our customers to stay in control of their loan. Want to learn more? Please visit our about us page.
What is a short term loan?
Short term loans are unsecured loans that can be borrowed online in one lump sum but repaid in monthly instalments. They’re called ‘short-term’ because they only span over a short period (up to 12 months) compared to bank loans. At Cashfloat, we offer short term loans up to 6 months (7 with Easy Start).
How much money can I borrow with a short term payday loan?
With Cashfloat’s short term payday loans, you can get between £300 and £1,000 online. We fund approved applications every hour. This means that if you get approved, you can get your money funded into your bank account within 1 hour.
Can I get a short term loan alternative from Cashfloat?
Short term loans can be expensive because they are taken out for a short time period. Are you looking for a cheaper alternative? You can apply for our small personal loans and get up to £2500 today. These loans have much lower interest rates making them far more affordable if you need to finance a big expense. You also have a longer time to repay the loan, helping you get back on your feet and recover from an emergency expense that has hit you financially.
Does Cashfloat offer 3 month loan and 6 month loan options?
Absolutely. Our short term loan terms are anywhere between 3 months to 6 months, extending up to 7 months with our new Easy Start feature. When you make your application, you can select the loan duration to be 3 months, 4 months, 5 months, 6 months (or 7 months with Easy start), depending on the loan amount you require. You can always pay back your loan early and save on interest. We do not charge any fees for repaying your loan early.
Am I eligible to apply for a quick short term loan?
As a responsible lender, applicants must meet the following short term loan eligibility criteria before applying:
- Be a UK citizen
- Hold a UK bank account
- Be at least 18 years old
- Have a steady source of income (salary, pension, benefits, etc.)
Does Cashfloat offer short term finance 24/7?
Cashfloat’s online application form is accessible 24/7 and 365 days a year. If you submit your application on a weekend or bank holiday, your application will be processed the next working day. We are committed to helping you access the financing you need without delay.
Can I get a short term loan with no credit check?
You may be searching for a short term loan in the UK with no credit check or a guaranteed short term loan because you are worried about your credit score. However, these products are not recommended in the UK. But don’t worry! Our high acceptance short term loans are a safe alternative for people with poor credit, and the instalment based repayment plan makes our loans more affordable. At the same time, borrowers must remember that interest is calculated on a daily basis, so the total cost of borrowing may be higher the longer you keep the money.
Can I get a short term loan on benefits?
If you are on benefits, you can apply for a loan with us. As long as you have a steady source of income –benefits included– and you can afford loan repayments, we will happily approve your application. We give an instant decision, so you will know if you are approved straight away.
If I am not happy with my short term loan, can I make a complaint?
If you have any questions or concerns about your loan from Cashfloat, please contact our customer support team who will be happy to help you. You can submit a complaint using our live chat, by calling us or by sending an email to email@example.com. Most claim management companies charge steep rates for something you can easily do yourself, so we don’t recommend using them. Dealing directly with your loan provider is usually the best way to go.
Find out more about getting a short term loan in the UK here.
Short Term Loans for Bad Credit
Many lenders are wary of providing short term loans for bad credit in the UK, because of the risk it can entail. However, at Cashfloat we set ourselves apart from other UK lenders. Our short term loans for poor credit are designed to help people who are struggling with their low credit score. Some people apply with a credit score of 450, 400 or even less. At Cashfloat, we weigh affordability over credit score. As long as we see that you can afford the loan repayments and that borrowing credit won’t damage your finances, we will happily accept your loan application.
Looking for the best short term loan for bad credit? Apply here and get the service that you deserve.
Looking for a trusted short term loan direct lender?
From the very beginning, Cashfloat have put the safety of their customer at the forefront of the business. As the most trusted short term lender in a tarnished industry, we have introduced fair and flexible loan repayments to our niche. We have also integrated your GDPR rights so that you can enjoy even more transparency when borrowing a loan. We take every precaution to make sure that you can afford the loan and that it will not put you into financial distress.
What Does it mean to be an FCA Regulated Lender?
The Financial Conduct Authority has changed the short term lending market significantly in recent years by setting strict guidelines for all financial industries in the UK. These new rules have made short term credit cheaper, safer and more transparent. An FCA authorised direct lender must strictly adhere to the following rules:
- Charge a maximum interest rate of 0.8%.
- Charge a maximum late fee of £15.
- Ensure that customers will never have to repay more than double the figure they borrowed.
How to Find the Best Short Term Loan
You can use our calculator below to help you make your short term loan comparison with other lending companies. Comparing your options carefully before applying for a short term loan will ensure that you get the best deal possible.
Can I get a Cheap Short Term Loan from Cashfloat?
Our daily interest rate is between 0.61% and 0.74%, and our representative example shows our capped and reasonable interest rates. Here is a representative example: Borrow £900 for 7 months. 1st monthly repayment of £187.92, 5 monthly repayments of £250.56, last monthly repayment of £125.27. Total repayment £1,565.99. Interest rate p.a. (fixed) 198.72%. RAPR 529.09%. We use simple interest which is cheaper than compound interest used by the banks.