Borrow Money

£100 - £5,000 paid out by 04:01am

How much would you like?


Representative 669.35% APR

Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
*Subject to application being approved by the lender. Not all lenders are able to provide up to £5000.
*Omacl will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

The best way to borrow money with a poor credit record

If you have a poor credit record, you may think that there will be no options for you with regards to borrowing. Short of borrowing from friends and family or turning to loan sharks, you may think that there is nowhere to turn. However, there are some options for borrowing and using a short term loan to borrow money is one of them.

Facts about short-term loans

Short-term loans differ from standard loans in a variety of ways:

  • Fast credit check
  • Lend small amounts
  • Quick to repay
  • Fast to arrange

How much would you like?

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Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable). 

Most lenders will do a credit check to make sure that the borrower is capable of making the repayments. However, short term emergency loans were designed to help those with a poor credit record be able to borrow money. When a lender says no credit check, they actually mean that it means that the application can be processed more quickly and it can even be possible to get the money in your bank account the same day that you apply. However, they will still undertake a credit check to make sure you are suitable for the loan. The amount that you can borrow is small, usually hundreds of pounds or perhaps up to a few thousand. The advantage of not borrowing too much is that you will not be so easily tempted to borrow more money than you need. If you borrow too much, you will end up having to pay more in costs for the loan as the more you borrow, the more you get charged.

poor credit record

Therefore it is always wise to only borrow as much money as you need and not more. Some of these short-term loans will have only one repayment which will occur on the day that you get paid, so that you will have the necessary money available. This means that the loan is repaid really quickly and it can be a great relief to know that you will not have a loan hanging around for a long time. However, if you think that paying it back all at once will be too difficult to manage, then you do have the option with some loans, to pay back in several instalments, depending on the terms of the specific loan. This is likely to make the loan more expensive but if it means that you will more easily manage the repayments, then it can be worth paying the extra.

Comparing Short-term loans

It is always wise to compare prices when you are buying things. This allows you to get an idea of the range of prices of different products available and see which is the cheapest. Often it can make sense to take the cheapest option, but it is important to think of value for money as well, as the cheapest may just not be good enough quality.

How Does Omacl Compare?

Why Use Us?
How much can I borrow?
Up to £5,000
No hidden fees
Chance of getting approved?
High approval
What are the repayment terms?
1 - 36 Months
No paperwork.
How do I apply?
Apply Online
2 min Application
Do I need to pay back a lump sum?
Easy repayments

When you are looking at short-term loans, the cost is important, but there are other factors to consider as well. You will want to think about what happens if you miss a repayment and how much that will cost. Consider how many repayments there are and whether that schedule suits you and your finances. Consider the reputation of the lender as well and whether you feel they will be a good company for you to deal with. Finding out this information and comparing lenders can be tricky, but there is help available.

short term loans

Omacl is a company that will help you to make this task easier. They will be able to broker a loan for you, if you give them some of your details. This will enable you to pick cash loan lenders that you know will accept you for a loan if you apply and will save you time. You will already know that they will lend you what you need and have the term that you want and so you will only need to take a look at the terms of the loan and the costs if you miss a repayment, if these are factors that you feel are important to you. You can be more confident in the loan that you pick if you know that it has been recommended by Omacl as well. If you are not familiar with short-term lenders then this can make a big difference.

Warning: Late repayment can cause you serious money problems. For help, go to Omacl is a broker, not a lender, and does not make credit decisions.