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).

Direct Lenders – Your Only Online Resource for Fast Cash Today

Balanced cash flow occurs when your income is sufficient to cover all of your outgoing financial responsibilities. Though balanced budgeting is a straightforward strategy; in practice, unexpected spending demands complicate the process. A single spending emergency or cash flow crisis can create imbalance, requiring immediate financial attention. Direct lenders only offer small, fast loans, so online providers are a go-to resource for urgent monetary relief.

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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). 

Direct Lenders Only Offer Short-term Loans

Wide-ranging finance offers help UK credit consumers cover day-to-day spending needs and to lay the groundwork for long-term financial success. Though banks and building societies offer mortgages, car loans, and other financing, direct online lenders focus only on small, short-term loans. Specialising in quick cash loans, direct lenders may be able to help you address your near-term finance needs, when banks fail to deliver.

payday loans direct lender only

Comparing lending alternatives is easier than ever before; Omacl’s online resources are at your fingertips. As you weigh the pros and cons of various finance options, it helps to consider essential question about your finance needs.

  • How much money do you need? – Direct lenders only offer short-term resources, so the loans are not for buying houses and other long-term finance commitments. Rather, small, short-term loans furnish a financial fallback option, when a bridge loan is needed between paydays. Omacl’s network of direct lenders only provide loans valued between £50-£2,500. The flexible financing is not restricted, so that users can manage their own urgent financial priorities.
  • Do you need a small loan right away? – Funding procedures vary from one lender to the next. When urgent conditions call for a small loan quickly, you can’t afford lost time, waiting for acceptance. Direct lenders only specialise in fast funding, so online application and acceptance facilitates short turnaround times. Credit cards also offer immediate access, but banks and building societies may not be prepared to meet your need for money today. Applying online streamlines the lending process, resulting in faster funding than most banks can deliver.
  • How long is the money needed? – Payday lenders rely on your employment earnings to establish terms. In exchange for immediate access to cash, direct lenders require prompt payback. The short-term assistance provided online offers weeks or months to pay, but the near-term resource is not designed for long-term repayment agreements.
  • Can you afford to repay a new loan? – Your overall financial health, personal earnings, existing payment obligations, and similar concerns, all influence affordability. Before accepting a loan online, you must first assess your ability to repay a new loan. Do you expect your income to continue at the same level during the loan repayment period? Can you afford to dedicate a portion of each paycheck to repayment, until you’ve wiped the entire loan balance? Are you sure you need to borrow money? Answering these and other relevant questions about your finances can help you avoid payback problems. If your affordability analysis comes up short, casting doubt on your ability to repay a short-term personal instalment loan, consider requesting a smaller sum or stretching your repayment period to lower the amount of each instalment.

How to Measure Affordability

Obtaining financing is a top priority when resources run short between paydays. The vital assistance can make the difference between staying current with on-time payments and falling behind on your financial obligations. As you prepare to utilise short-term finance opportunities, comparing loan terms and measuring personal affordability can help you orchestrate favorable credit outcomes. Before making loan commitments, consider the costs of repaying a loan.

  • Annual Percentage Rate (APR) – Interest rates determine the actual price paid for funding, typically added to each repayment instalment. A loan or credit line’s annual percentage rate includes the interest rate offered with the loan, as well as additional charges, as required by the lender. Lending rules require transparency, so APR is used to convey an accurate assessment of borrowing costs. Secured loans, such as a house mortgage, typically offer low interest rates, because they are backed by real property that can be sold to recover debts. Credit cards and other unsecured finance opportunities commonly cost more than secured funding.
  • Loan Terms – Loans terms vary, according to your needs and requirements imposed by your lending partner. Failure to familiarise yourself with the terms of your loan can lead to surprises later on, so evaluating the terms of your loan is an important requisite, before finalising your credit agreement. Payment due dates and other specifics about your loan are established up front, so loan terms will not sneak up on you during repayment.
  • Repayment Period – The repayment period assigned to your loan works with its interest rate, determining how much you pay for financing. It is important to consider the repayment period because your obligation does not wane until the entire loan balance has been cleared. If you can afford repayment today, but think you may have trouble paying in the future, the proposed payment plan may not be beneath your means.
  • Origination Fees – Administrative costs and loan origination charges may be included in repayment totals. For an accurate sense of what’s owed, the complete cost of obtaining an emergency loan must be rolled into your affordability analysis. If charges and fees are not represented in your loan APR, you must make separate accounting to capture the true cost of borrowing.
  • Late Payment Penalties – Late payments can damage your credit score and result in past-due payment penalties from your lender. Late fees add to the cost of borrowing and credit damage takes many months to repair. If you are serious about establishing and maintaining a healthy credit rating, you can’t afford to fall behind on payments. And since it only takes a single late payment to damage your credit score, your credit rating is at stake every time you pay late.
  • Total Cost to Borrow – The most reliable tool for measuring repayment affordability is the total cost of borrowing. The figure accounts for the interest charges on your loan, as well as any add-ons that increase your overall repayment obligation. Broken into instalments, total borrowing costs reflect a realistic expectation for the payback period. It is a mistake to focus solely on the principal balance of your loan, when the actual cost of repayment may be significantly higher, all things considered.

Flexible Benefits of Payday Loans

Banks and other traditional lending institutions are not the only sources of financing in the UK. Direct payday lenders supplement conventional lending resources, offering small, short-term loans for urgent monetary needs. The flexible alternative funding originates online, presenting distinct advantages over bank loans.

  • Convenient Online Access and Application – Modern credit consumers benefit from time-saving technology, allowing them to seek financing online. Rather than visiting your local bank branch, it is possible to compare loans and request funding without leaving home. Access from your mobile device or laptop computer ensures timely service, making quick cash loans a good choice for anyone needing money today. Unlike in-person alternatives, Omacl’s online application can be completed in minutes, connecting you with a network of top UK lenders.
  • High Acceptance and Approval RatesBad credit or lack of credit references make it harder to obtain traditional bank loans. A low credit score may be enough to undermine your loan application at the bank or building society, but alternative online lending options offer flexible acceptance. Each case is unique, but your so-so credit score doesn’t automatically disqualify your loan request. Because payday lenders specialise in short-term loans, backed by your employment income, online providers may be able to fulfill your request when traditional lenders fall short.
  • Brief Turnaround Times and Direct Loan Transfers – Timely funding is essential for managing urgent monetary demands. When waiting until payday isn’t an option, immediate access to financial resources is the only answer. Online lenders specialise in fast loans, so payday providers won’t keep you waiting for answers about your funding request. Same day service puts money in your hands as quickly as possible, avoiding delays frequently experienced with traditional lenders. Whether or not you are accepted for a loan, direct lenders offer short turnaround times and direct bank transfers for approved applicants.
  • Flexible Usage – Payday loans and other quick cash credit options are not reserved for specific spending functions; you are free to spend loan proceeds as you wish. Direct lenders not only deliver speed and efficiency, but unrestricted usage also makes payday loans a good choice for anyone needing a flexible finance solution. Payday loans are frequently utilised for household spending emergencies, education expense, health care costs, travel, repairs, bills, and other financial challenges. Valued from £50 – £2,500, the flexible short-term loans are well-suited for covering day-to-day spending needs and substantial unexpected spending obligations.

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

Omacl’s network of direct lenders provides a wide range of flexible funding options for online applicants. The direct online loans provide immediate access to money, when conditions call for quick cash.

payday loan direct lender only

Omacl on the FCA Register

Omacl is a registered trading name of Chojin Ltd and is authorised and regulated by the Financial Conduct Authority (FCA). You can view our registration status via reference number 732880.

Free Financial Advice

If you are struggling with debt or are unable to make your loan repayments, please visit the websites below. All of them offer free, impartial advice.

Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.