£500 Loan - Borrow 500 Pounds Today

It can be hard to know where to start when you need a little extra cash to deal with a minor financial emergency. Fortunately, CashFlex makes it easy to apply for a £500 loan online, so you can get back to doing the things that matter.

Whether you need the money to cover an unexpected repair bill or simply need to replace a household item, we've got your back. Working closely with the direct lenders on our panel, we match borrowers with loans that suit their circumstances.

Applying couldn't be any easier, and your application will be seen by multiple lenders, so you don’t need to waste time making multiple applications with direct lenders and potentially harming your credit score in the process.

Am I eligible to borrow 500?

The eligibility requirements imposed by the lenders on our panel are quite simple. To qualify, you must:

  • Be aged 18 or over
  • Be a UK resident
  • Have a UK bank account with a debit card
  • Have a regular income to repay your loan with.

If you're not sure whether you qualify, why not use our FastCheck service to get an instant indication of how likely you are to get approved. Using FastCheck will never have an impact on your credit score.

Can I borrow £500 with bad credit?

You may be able to, yes. In short, while you may not be able to access the most competitive interest rates, there are many loan products available that are tailored specifically for bad credit borrowers.

While the direct lenders we work with are required to conduct full credit checks on all applicants, they frequently offer short-term loans to people who struggle with a less than perfect credit history.

Generally speaking, what matters most is whether your current financial circumstances will allow you to repay what you owe on time and in full. Every company on our panel is a responsible lender, and so they focus on whether the loan you've applied for is affordable given your situation. We only work with Financial Conduct Authority (FCA) authorised and regulated finance providers.

Do I need a guarantor?

No, not in most cases. You can apply without a guarantor, but we do work with some guarantor lenders so you may be matched to a guarantor product, but you are under no obligation to go ahead with this unless you are happy to.

Will a £500 loan be expensive?

It doesn't have to be! While the cheapest loan options may not be readily available to people with bad credit histories, there are still plenty of lenders who are willing to offer flexible finance to people regardless of their financial situation.

The important thing is to ensure that you apply for a loan that is genuinely affordable for you in the circumstances. Your loan shouldn't become more expensive to maintain than planned, as long as you keep up with your monthly repayments.

What are the repayment terms?

The lenders on our panel offer flexible finance options. This means that the period over which you'll have to repay depends on how much you borrow. When taking out a £500 personal loan you can choose a repayment term of 3, 6, or 12 months.

Can I borrow £500 without a credit check?

No - you'll always need to undergo a full credit check when applying for finance, no matter how much money you request. FCA requires lenders to check the credit files of potential customers to ensure that finance products are affordable for them before they can be approved.

If you're unsure about whether you're likely to qualify for a loan, why not use our FastCheck tool. Simply enter your details to get an instant indication of whether you're likely to be approved for a loan - all without harming your credit score.

How to apply for a £500 loan?

Applying is easy when you use CashFlex. Simply complete our short online application process and we'll attempt to match you with the lender from our panel that's most likely to approve your request. They'll conduct soft credit checks to ensure that you qualify for their finance products, meaning you could get a near-instant decision without any impact on your credit score.

You can then choose to make a full application with the direct lender, at which point they will need to carry out a full credit search.

If you're approved, the money could reach your account in just minutes.*

How quickly can I receive the money?

If you're approved for a loan with one of the direct lenders from our panel, the £500 you've applied for could reach your account in just minutes.*

Many people use the cash to cover unexpected expenses or to deal with life's little emergencies. You can spend the money however you choose, but we always encourage people to exercise responsible financial judgement.

Will I have to repay on my next payday?

No, the finance options offered by the lenders on our panel are more flexible than payday loans. With a variety of repayment periods to choose from, you'll be able to opt for a term that suits you. £500 loans can be repaid over 3, 6, or 12 months - making it easier to repay what you owe over a longer period of time.

What should I do if I can't meet the repayments agreement?

If you find that you're struggling to afford your regular repayments, you may wish to seek help. The organizations listed below offer free and impartial advice that could help you to get a handle on your personal finances:

moneyhelper.org.uk
stepchange.org
nationaldebtline.org

What will I need to get a short term loan?
Can I get a short term loan?

Over 18

You'll need proof that you are over 18.

Bank Account

Hold a valid UK bank account.

Income

Have evidence of a regular income and UK residency.

Try our FastCheck tool with no impact to your credit score

Our new tool allows you to calculate your chance of being accepted for a loan.

Check out what our trusted customers had to say.

See more feefo reviews »

Representative Example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28. Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative.

We’re a fully regulated and authorised credit broker and not a lender.