Top 22 Best Loans For Bad Credit UK

Have you ever been tight for cash? It’s as if your poor credit history will prevent you from ever being able to pay your credit card or utility bills? Fortunately, assistance is available for individuals in need.

People with credit histories that show past financial mistakes or those who haven’t had time to establish a credit history can be considered as bad credit. These loans can either be unsecured or secured (backed by property such as a house or car). These loans have different terms, fees, and interest rates depending on the lender.

Many banks, credit unions, and internet lenders provide loans for bad credit UK, but each organization has a different standard for who qualifies as a “creditworthy borrower.” When seeking a loan, it’s crucial to compare all available lenders carefully because some have tighter restrictions than others.

We’ve put together a list of 22 loans for bad credit UK that we believe will provide you with the best deal.

Take your time to comprehend the interest rate that will be charged in addition to repaying the loan, the one that fits your pocket should be what you should go for.

Here’s A List Of Available Cash app Loans For Bad Credit In The UK

Highlighted below is a list of our top 22 recommendations for instant loans for bad credit UK. Just pick the one that best suits your needs and appeals to you.

  1. THL Direct
  2. Sunny
  3. Lending Stream
  4. Creditstar UK
  5. My jar
  6. Cash float
  7. Mr Lender
  8. Quick Quid
  9. Piggy Bank
  10. Peachy
  11. Swift Money
  12. Money Boat
  14. Viva Loans
  15. Loan Pig
  16. Scot Cash
  17. Harris Finance
  18. Cash Lady
  19. Cash4unow
  20. Oyster Loan
  21. Fast Loan
  22. Simply Money

1. THL Direct

Loans for bad credit UK (THL Direct)

THL Direct is a high-priced short-term lender that offers loans for bad credit UK. They provide 3-month payday loans, but you can pay them off early without incurring any penalties, and you only have to pay interest for the time you borrowed the money.
THL Direct charges interest at a daily rate of 0.8 percent, which is comparable to the prices of the majority of expensive short-term lenders (in line with the FCA price cap). No upfront fees, no costs for defaulting on payments, and no fees for late repayment attached.
After receiving your completed application, and on loan approval, THL direct lender partners can offer same day funding. Funds are paid directly into your bank account.

2. Sunny

Sunny loans for bad credit uk

Sunny position themselves as a supplier of quick and flexible loans for bad credit UK, offering short-term loans to clients while placing a strong emphasis on offering a fair service.
Upward Finance Limited, an introducer appointed representative of Flux Funding Limited, a credit broker rather than a lender, is the company behind Sunny Loans. Sunny Loans is their registered trading name. Loan lengths range from three to six years.
Sunny is one of the most recognizable short-term loan companies in the UK, having been in business there since 2004. Sunny allows borrowers to apply for loans with amounts ranging from £100 to £2,000.

3. Lending Stream

Lending stream loans for bad credit uk

Since 2008, Lending Stream, a direct lender of short-term loans for bad credit UK has offered online borrowing options to UK customers. They operate under the GAIN Credit LLC brand and offer credit solutions under the Drafty trademark.

Loan requests from new consumers can range from £50 to £800, while those from returning customers can reach a maximum of £1,500. The degree to which prior loans were responsibly handled will be a major factor in approval.

To Apply For Lending Stream Loan, click here

4. Creditstar UK

Credit star loans for bad credit Uk

Financial technology startup, Creditstar, provides private individuals with flexible consumer loans for people with bad credit. Their mission has been to make borrowing simple and available to everyone since they were founded in 2006. They currently have over 1 million registered users and operate in eight different European nations.

First time customers or applicants seeking for loans for bad credit UK can borrow up to £600 and repay it over the course of 30 to 6 months. You can select a suitable monthly payback date to ensure that you repay the loan on time.

To Apply For Creditster UK Loan, click here

5. My Jar

My jar loans for bad credit UK

My Jar is a direct lender located in London. My Jar, which has been in business since 2009, provides short-term loans for bad credit UK. MyJar has distributed 2.3 million loans at this time.

People who might find it difficult to secure credit elsewhere due to a bad credit history might get loans through MyJar. MYJAR provides loans in the range between $100 and $2,000per month. Three payment choices, which can be spread over 3, 6, or 12 months, are available to you.

To Apply For MyJar Loan, click here

6. Cash Float

Cash float loans for bad credit UK

Cashfloat customers will have the opportunity to take out larger loans with longer terms. People with fair credit scores might use these loans to break the cycle of payday loans. It’s among the fintech apps that offers loans for bad credit UK

These loans can offer greater financial relief than taking out many modest payday loans to cover short-term financial needs. Cashfloat personal loans are more manageable because they are less expensive and may be repaid over a longer period of time.

You must be at least 18 to apply. Cashfloat’s responsible lending strategy requires all loans to pass affordability, application verification etc. Loan decisions typically take up to 30 minutes during business hours. Funds will be transferred to your account the same day as long as you are approved. New customers seeking loans for bad credit UK can get up to £700 with 6 months repayments plan

To Apply For Cashfloat Loan, click here

7. Mr Lender

Mr lender loan for bad credit UK

Mr. Lender is a short-term loan company with its main office in Loughton, England, that provides people in need with quick access to small amounts of cash. The lender accepts all applicants and even offer loans for bad credit but only those who can afford to repay the loans are given approval.

The first step is to go to the lender’s website, choose how much and for how long you want to borrow it, and then use the calculator there to estimate how much you will ultimately have to pay back. Applicants who are seeking loans for bad credit UK can get up to £500 for a start

To Apply For Mr Lender Loan, click here

8. Quick Quid

Quick quid loans for bad credit uk

Enova International, a thriving online lending and analytics business with 11 brands operating in six nations, including the UK and the US, owns QuickQuid.

With its headquarters in London, QuickQuid has given UK consumers over 1.4 million online short-term loans totaling up to £1,500. They offer loans for bad credit in UK and to some less qualified customers as well.

The normal term of a QuickQuid loan is one to three months. Depending on your personal financial position, you can choose the solution that works best for you.

To Apply For Quick Quid Loan, click here

9. Piggy Bank

Piggy bank loans for bad credit uk

PiggyBank offers quick, adaptable payday and installment loans for borrowers with bad credit, with terms as short as 7 days and as long as 5 months. If you choose to spread out the payments over a period of two months or longer, you would then make monthly payments, with each payment covering a portion of the capital (the initial amount borrowed) and the interest that has already accrued.

The PiggyBank was told to stop offering loans in the middle of 2019 by the Financial Conduct Authority (FCA), which had concerns about how thoroughly the lender had examined borrowers’ ability to repay. Following an investigation, PiggyBank was given permission to resume lending.

To Apply For Piggy Bank Loan, click here

10. Peachy

Peachy loans for bad credit uk

Peachy is a short-term and installment provider for loan for bad credit UK who require a sudden need for cash, either between paychecks or to handle an emergency.

New users may apply for loans with amounts ranging from £100 to £1,000. If your application is accepted, you can choose to repay over a period of one to twelve months.

Repayment must be made on schedule. Non-payment may result in a default fee or increased interest, which could after you later on. We advise getting in touch with the loan agency right away and informing them if you are unable to make your payments on time.

To Apply For Peachy Loan, click here

11. Swift Money

Swift money loans for bad credit uk

Fast short-term loans are available from Swift Money, a growing payday lending broker, however due to the service’s high interest rate, it should only be used as a last choice. Warning: Making late payments could put you in significant financial trouble.

With one of the fastest and most effective loan processing methods available, Swift Money is able to offer exceptionally high approval rates to individuals seeking loans for bad credit UK of up to £3000. You can have the loan amount placed into your bank account in as little as 10 minutes after receiving approval from one of our lenders.

To Apply For Swiftmoney Loan, click here

12. Money Boat

Money boat loans for bad credit Uk

MoneyBoat might be able to assist you if you are thinking of submitting an application for a payday loan. It is the direct lender that is trustworthy, open, and accommodating, providing short-term loans for bad credit UK at an interest rate of 0.7 percent daily as opposed to the more typical 0.8 percent demanded by other lenders (which is the price cap set by the FCA).

To make loan repayment a little bit easier for you, They also offer UK-based support for all of customers and let you pay back your loan in multiple installments.

To Apply For Money Boat Loan, click here

13. Cashasap

Cashasap loans for bad credit uk

With their online service, you can apply for a loan across a variety of timeframes, allowing you freedom over the amount of your repayments and letting you choose the option that best suits your needs. They provide two different credit products: payday loans and long-term loans for bad credit UK.

First-time users seeking loans for bad credit UK are only eligible for a £400 loan. Depending on successful repayments and continuous eligibility for a loan, this ceiling may increase to £750. You can apply for a payday loan with a maximum term of 35 days or a loan with a maximum term of 6 months.

To Apply For Cashasap Loan, click here

14. Viva Loans

Viva loans for bad credit uk

A viva loan can be a viable alternative to think about if you ever find yourself in a dire circumstance and in serious need of loans for bad credit UK. A few hundred pounds can help you find a solution. Consider medical crises, unexpected travel costs, auto repairs, home renovations, special celebrations, unanticipated cash difficulties, or a delayed paycheque – for every urgent cash requirement, a Viva loan can be very helpful.

Vivaloan is an online marketplace for personal loans that collaborates with numerous lenders to offer loan alternatives with values ranging from $100 to $15,000.

To Apply For Viva Loan, click here

15. Loan Pig

Loan pig loans for bad credit uk

When it comes to short-term loans for bad credit UK. LoanPig serves as both a credit broker and a direct lender for borrowers who require assistance managing an unanticipated financial emergency.

Application procedures are short and simple. Enter your personal information, income information, and costs, and we’ll try our best to connect you with a lender for a short-term or payday loan.

Customers can borrow between £50 and £1,500 for a term of 1 to 12 months with an advertised APR of 1261 percent (a daily interest rate of 0.80 percent).

To Apply For Loan Pig, click here

16. Scot Cash

Scot cash loans for bad credit uk

A brand-new Community Interest Company by the name of Scotcash was established in October 2006 to provide a way out for those experiencing financial troubles and offer loan for bad credit UK.

Glasgow Housing Association, Glasgow City Council, the Royal Bank of Scotland, the Scottish Government, and Communities Scotland (a now-defunct government organization) all contributed financing and support to the formation of the CIC.

Scotcash has offered 1,500 borrowers loans with average interest rates of 20% to 25% in just 18 months.

To Apply For Scot Cash Loan, click here

17. Harris Finance

Harris finance loans for bad credit uk

At affordable rates, Harris Finance arranges both secured and unsecured personal loans for bad credit UK. Because they make their lending choices individually, they offer loans to customers who might have been penalized by computerized credit scoring systems.

For more than 50 years, Harris Finance has provided financing to Scottish businesses and individuals. They have the knowledge, experience, and competence to assist you no matter the circumstance. A true Scottish family business, Harris Finance.

Few people take the time to get to know our consumers on a personal level and truly comprehend their demands.

Their dedication to client service reinforces their emphasis on the individual. Offering loans ranging from €1000. They are always seeking for creative and novel ways to assist their clients in achieving their own personal objectives. Individuals seeking loans for bad credit UK are welcomed as well.

To Apply For Harris Finance Loan, click here

18. Cash Lady

Cash lady loans for bad credit uk

If you submit your loan application through, you should hear back in within two minutes. The time it takes for your money to be transferred to your account can vary and is dependent on the policies and procedures of your bank.

If approved, the money can frequently arrive in your account in minutes. Cash lady offers financial assistance to individuals seeking loans for bad credit UK ranging from €1200

The first step in applying for a loan with CashLady is to accurately fill out the online application form. The remaining difficult job will subsequently be done for you by them. Even people with bad credit can get loans from Cash Lady in the UK.


To Apply For Cash Lady Loan, click here

19. Cash4unow

Cash4unow loans for bad credit uk

Cash4unow is an independent Instalment Payday Loan business with headquarters in Leeds, Cash4unow was established in 2011.

They aspire to advance the short-term lending industry with their adaptable and responsible lending practices since they feel that individuals should have more options to help them manage their budget. Cash4unow is a trusted finance organization with customers all over England giving positive reviews and ratings

In the high-cost short-term lending sector, Cash4unow offers an APR that is fairly pricey. You can get a loan of up to £500 for a start, a good repayments record will keep you moving fine.

To Apply For Cash4unow Loan, click here

20. Oyster Loan

Oyster loans for bad credit uk

A UK-based loan broker named Oyster Loan assists customers in finding offers on unsecured personal loans with short terms from licensed lenders. They offer loans for bad credit UK and they are here to lend you a helping hand while you look for the best lender to give you the money you need to handle your financial problems.

Lets take for instance a 36-month, $2,600.00 approved loan amount. Interest rate is 41 percent a year (fixed). an APR of 49.7%. Total amount due is £4,557.89, of which interest is £1,957.89. 35 installments totaling £126.61 each will be due, with the last one being £126.54.

To Apply For Oyster Loan, click here

21. Fast Loan

Fast loan for bad credit uk

You only need to select the quick small loans amount, the length of time you want to borrow it for, and the number of loan repayments you want to make at Fast Loan UK. If you can, you can choose to pay back your quick, cheap loans for bad credit UK ranging for £500 are also included, if failed to repay on time, you will only be penalized with interest for the days you borrowed.

All of the lenders claim that funding a loan takes a few days or less. But fast loans offers loan to people with bad credit and they can give money for almost any need, from moving costs to car repairs. Online lenders are speedy and accessible; for qualifying borrowers, some might offer same-day or next-day money.


To Apply For Fast Loan, click here

22. Simply Money

Simply money loans for bad credit uk

Whether you’re looking for secured loans, consolidation loans, unsecured loans, or guarantor loans, Simply Money will assist you in finding the finest rates. Regardless of your situation, Simply Money also offer loans for bad credit UK. You may apply for a loan online today ranging from £500 to £35,000 without paying any upfront costs.

Minimum and maximum loan periods range from 12 months to 60 months. Rates ranging from 5.8% APR (minimum) to 89.9% APR (highest). This has made it possible for us to assist clients with various credit profiles.

Loans up to £25,000 will be made available by lenders pending affordability. Your unique situation will determine the percent APR rate that is offered to you.

To Apply For Simply Money Loan, click here

Frequently Asked Questions About Loans For Bad Credit In The UK

Can I Get A Loan With Extremely Bad Credit in UK?

Yes you can! Some unstandardized approach made it extremely difficult for persons with a low credit history to be authorized for loans, but it also meant that some people found themselves with a terrible rating without their own fault.

ALSO READ: Top 11 Best Loan Apps In Nigeria By Loan Amount (500K And Above) 2021/2022

Loan companies are aware that even those with extremely low credit scores occasionally need to borrow money. Customers now have a more encouraging response when they inquire, “Can I acquire a loan with a negative credit history?”

No matter if you need a loan to cover unexpected expenses like a car repair bill or a heating engineer cost because your boiler broke down, loan providers will still give you access to favourable loans for bad credit UK, Although a few providers might still insist on minimal amounts for a start

What Is The Lowest Credit Score You Can Have To Get A Loan in UK?

Each lender will have its own standards for credit scores that must be met in order to be eligible for a loan. You would typically need a score of between 550 and 580 to be eligible for a personal loan, though.

What’s The Easiest Loan To Get With Bad Credit in UK?

There are varieties of Fintech apps you can run to when you’re extremely short on cash with an unfavourable credit score listed, but Money Boat will be a very good option based on 5 star recents reviews and ratings from existing customers





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About the Author: Agunbiade Gbenga

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