If you are running short of cash before payday or you have an unexpected expense which you can’t afford to pay, you are not alone. This can leave many people searching for a loan which is quickly approved, however those with a low credit score may find it difficult to secure a loan from a traditional lender.

We have partnered with a panel of lenders who are willing to consider applicants for a loan, regardless of their credit history. As a broker we are proud to work with a range of open-minded, modern lenders, to help those with a bad credit score secure the loans they need. 

What’s the easiest loan to get with bad credit?

For many borrowers the main stumbling block they find when searching for a loan is their credit history. If a person has a low credit score and a history of missed payments, they may not be eligible for a traditional loan. In addition, those who do not have a credit history at all can struggle to find a loan, as they have no proof of managing their debts responsibly. However, here at CashFlex we are proud to work with a panel of progressive lenders who will consider several factors when assessing your application.

Although, your credit history is still important, our panel of lenders will also be looking to see whether the loan repayments are affordable to you now and whether you have a recent history of making your debt repayments. Every lender will have their own criteria which you will need to meet, however if you are a UK resident, aged over 18, employed and hold a UK bank account, you are likely to be considered.

The loans we can help you arrange are designed to be as flexible as possible, so that you can borrow the exact amount of cash you need with repayments spread across an affordable payment period. As a broker we can help you arrange loans from as little as £100 up to a maximum amount of £5000, with repayment terms reflective of the amount borrowed. For example, if you are looking for a small emergency loan of less than £1000, you can choose to repay the loan in 3, 6 or 12 months. However, if you need to borrow more than £1000, the lenders will offer loan terms of 3, 6, 12, 18, 24 or 36 months.

Where can I borrow money ASAP?

We know that when you are searching for a quick loan, it is important to keep the application and approval process as quick as possible. Instead of applying to multiple lenders directly, it is possible to complete a single 2-minute form on our website. The form is designed to capture key details, such as your income and expenses. As with all loans it is important to ensure the loan you are applying for is affordable, and these details will help the lenders decide whether you can comfortably repay the loan.

Our innovative system will then send your details to up to 40 lenders who will complete a soft search of your credit file, without leaving a footprint. You will then be matched to the first lender which indicates a strong chance of approval, saving you much needed time. If you would like to know whether you are likely to be approved before completing an application form, our FastCheck tool can help. There is no credit check and in just 60 seconds the tool will give an indication on whether you are likely to be accepted. 

How can I get an emergency loan with bad credit?

The lenders are all authorised and regulated by the Financial Conduct Authority, which means they are legally obliged to conduct a hard check of your credit file when you submit your application on their website. However, it also means you have the security of knowing the company you are borrowing from is trustworthy and transparent with their lending terms.

Although it can feel daunting to know a credit check will be carried out, at this point you will be matched to the lender on our panel who is most likely to approve your loan. If you are approved for your emergency loan, the funds could be sent to your bank account in just 10 minutes*. However, the availability of the funds will depend on the individual processing speed of your bank. 

How to get a loan with bad credit?

If you have been declined for a loan through our panel of lenders, there may be other avenues to explore, such as guarantor loans and secured loans. These types of loans represent a lower risk to the lender, as if you fall into arrears on the loan, they have other ways to recoup the missed payments. However, before you take out a loan you should always consider the affordability of the repayments, as there can be serious implications. For example, if you are approved for a secured loan and your home is provided as security, you could lose your home if you default on the loan. 

If your application for a loan has not been approved, it could be due to a recent history of poor financial management. If your credit report shows missed payments to other loans, credit cards and utility companies, you are likely to be considered a higher risk. To improve your chances of being accepted for a loan, it is advisable to meet your current credit obligations, as this will prove that you are able to manage your finances well. However, if you are finding it difficult to repay your current debts, another loan may not be the ideal option for your current situation. 

If you are struggling with managing your finances or would like to discuss your options in more detail, there are various organisations which offer free and impartial advice, including The Money Advice Service, Step Change, PayPlan, National Debtline, the Debt Advice Foundation and Citizens Advice.us organisations which can help.

Why choose us

Sometimes, the unexpected happens that means you need money fast. Here at Cashflex we offer a user friendly process to help you find same day loans in a responsible and affordable way.

How much can I borrow?

The exact amount you can borrow depends on your personal circumstances and can differ by lender. You can apply for a loan between £100 and £5,000

What are the repayment terms?

This is dependent on the amount that you wish to borrow. The repayment terms can be: 3 months, 6 months and 12 months to name a few, ranging right up to 36 months.

Can I apply for a loan with bad credit?

Yes. If you are unsure you can use our FastCheck tool to find out your loan eligibility.

Can I repay in instalments?

Yes.

Try our FastCheck tool with no impact to your credit score

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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.