Need just that little bit of extra cash? Apply for small loans online from an FCA-authorised direct lender. Little loans with same day funding, no guarantor and best in class service for people living in the UK.
Little loans for short periods
Now and then we are hit by unplanned expenses. Little Loans taken over a short period can provide you with the financial relief to resolve your short term cash shortage. A Small loan is often all you need to help you sleep at night knowing your bills can are paid. While small loans are not designed to be a long-term solution but they allow you to resolve short term issues. They can be paid back in a short period leaving you completely clear of the debt.
If you have asked yourself “how do I get a small loan”, there are lots of different places that you can apply to get small loans online. Cash Float is an FCA approved direct lender. This means that no middlemen are pushing up your costs. We are completely transparent with our charges, and you know what you will need to pay back before you take a small loan. If you are interested in finding out how to apply for a small loan then just go to our homepage and fill out the application form, and we will get you a super quick decision.
What are small loans?
Small loans are short term loans designed to help you cover a temporary shortfall in cash. We all have those months when you wish you would find some £50 notes under your mattress. With a small loan, you are buying some extra cash to help you pay for expenses that your regular income doesn’t cover. For example, you bought a new washing machine this month and now can’t afford to pay your bills.
Small Loans Bad Credit
Having a low credit score doesn’t mean that you have to settle for less. More small loans lenders are basing their lending decisions on affordability rather than credit history. That means good news for those of you looking for small loans with bad credit scores. Many small loan direct lenders, like Cashfloat, will still accept your application, even if you have bad credit.
Small Loans No Credit Check
Small loans do come with some element of risk. Because of the easy access and the high profits, some lenders take advantage of those in a desperate situation and offer small loans without credit checks. Because small loan lenders are not dealing with large amounts of money, they are willing to take risks and lend to people without first checking if they can repay. While the lender may not be at a high risk, the customer will. If they are unable to repay the loan, however, interest charges will pile up leaving the unfortunate customer with substantial debts to repay. It is, in fact, an FCA legal requirement for short term lenders to check every applicant’s credit report. So, for a safer and more secure experience, stick with fully authorised lenders, like Cashfloat.
Why does my credit score matter?
When you apply for a loan, your lender has no information about you except that which you provided in your application. This is not always enough information to determine whether the lender can responsibly lend to you. That is why lenders use your credit score to find out more information about your financial life.
How can I improve my credit score?
A high credit score shows your bank or lender that you are responsible with your money. So paying all your bills on time, paying off your loans and keeping on top of your credit card payments all help to increase your credit score. It is not always so easy to improve your credit rating. It might mean changing your lifestyle a little and cutting back on those extras, so you pay back all your debts.
Some people take small loans to build credit rating. This method involves borrowing small loans and paying them back on time. This method works because it shows up on your credit report that you have been paying back your loans on time. You can use this method when you don’t have any of your own bills to pay, for example, if you are living with your parents. But keep in mind, this method is not a quick way out. It is no use paying off all your small loans if you have a massive electricity bill that is three months overdue.
Can I get a small loan with bad credit?
The good news is that you still should be able to get a small loan for bad credit. Some lenders will ask for a guarantor as an added security. Others will provide no guarantor small loans but they may reduce the amount of your loan. At Cashfloat we don’t ask for guarantors. We do perform credit checks on all our loan applications, but our primary focus is on affordability.
As long as you can show that you can pay back your loan on time, we will be happy to consider your application. We just need to make sure that when you take a loan with us, you are not putting yourself and your family into further financial difficulty.
Small loans – Fast!
No one likes to be left hanging around. Even a negative answer that comes quickly is better than a positive one that takes a week to arrive. As a responsible lender, we will not be able to accept every loan application, but we can give you an instant answer. That is why we pull out all the stops to provide our small loans with instant decision, especially if you have a bad credit score. If your loan application is approved, you can get your money today with our small loans same day pay-out option.
Small Loans Online
The easiest and quickest way to apply for small loans in the UK is online. You can easily find plenty of lenders who offer small emergency loans by conducting a simple google search. But although online services can be extremely useful, they can also be dangerous. That is why you need to be extra careful which company you use when applying online for a small loan. To help you find the right company for you, we have put together a full guide to online loan safety. Watch here how to find a safe online lender.
But again, be aware that those companies offering small loans online with no credit check are not following the legal requirements. We advise all our customer to steer clear of these lenders.
How do I find the right small loans company for me?
When you have bad credit, and need some extra cash desperately, it can be tempting to go for the option that will guarantee to give you a loan. For example, some brokers might tell you that they can guarantee to give you a loan, but be careful with this. Brokers take your loan application and sell it to the highest bidder. This has two implications for you;
- Your loan might be more expensive because the lender has to pay for your loan application.
- You do not know who is lending to you because you only deal with the broker, not the actual lender.
So even if you do have bad credit, it is still worthwhile sticking to direct lenders when applying for your small loans. If you apply via Cashfloat, you can rest assured that you are dealing with a responsible, direct lender. If anything goes wrong during your loan, you can always give us a call,and we will be happy to work with you to find the best solution to your problems.
How much do small loans cost?
Like any other product, buying a small loan comes with a price. But instead of the usual price tag that you find on your bottle of ketchup in the supermarket, small loans come with an interest rate, or APR. The actual APR is not always the most important point because it applies to a loan taken for an entire year. But, the way to make sure that you are getting a good price is to compare different lender’s APR rates.
You can also use the small loans calculator. Cashfloat’s loan calculator allows you to play around with the loan figures and see how much money you would pay in different scenarios. We also offer a dynamic loan option that you allows you to repay your loan early saving on the extra interest charges.
But be aware that Cashfloat’s small loans may not carry the lowest interest rates. We encourage all our customers to shop around and compare loans to find the one that suits their needs best.
Small Loans UK
Cashfloat loans are designed to help British citizens facing a variety of situations. For example, if you have recently lost your job, our small loans for unemployed people are available to help you when you run out of cash. As always when using short term credit, small loans are never suitable as a long-term solution. So, while it may be justified to take out a small loan to help with your bills, you still should remember that while you are unemployed, you may not be able to spend as you used to.
Cashfloat also offers small loans for students. Again, our short-term credit is not designed to fuel overspending. If you are running low before your next student loan payment is due, you can consider taking a small loan to help you manage until you get your next payment.
Small loans can be extremely useful to help you cover small expenses that you otherwise couldn’t pay for. You can get small loans even if you have a bad credit score but it might be a little harder. At Cashfloat we won’t judge you by your credit score. Try a Cashfloat small loan today.