Online Loans for Bad Credit

£100 - £5,000 paid out by 08:11am

How much would you like?

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).

Top UK Lenders Provide Online Loans for Bad Credit Applicants

Despite your best efforts to keep cash flowing without interruptions, your pay schedule and personal spending obligations may work against you at times, resulting in shortfalls. A significant surprise expense or unexpected cost of living increase can have the same effect, temporarily disrupting your financial flow. When your budget falters and earnings don’t hold up against monthly spending demands, online loans for bad credit and good credit applicants provide a financial safety net.

Online Loans Benefit Good and Bad Credit Borrowers

Effective personal money management accounts for everyday expenses as well as long-range financial planning. The complex web of monetary concerns relies on steady earnings to maintain momentum, yet even consistent income occasionally falls short.

Online loans are designed to carry you from one payday to the next, providing short-term funding for urgent spending between checks. The alternative financing complements traditional banks loans and other conventional finance opportunities such as store cards and credit cards. Online loans have several advantages, compared to other types of finance.

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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). 

  • Credit Convenience – UK consumers are familiar with instant credit – most take advantage of credit card convenience. Like plastic finance alternatives, online loans serve urgent spending needs, providing fast cash when you can’t afford to wait. However, unlike revolving credit card accounts, online loan balances are settled in full, within weeks or months of funding.
  • Online Application – Banks and other conventional lending institutions offer loans, but the application and approval process may not accommodate urgent finance demands. When you need quick cash, without a drawn-out approval period, an online loan provides a timely alternative to traditional bank loans. The straightforward application for online loans can be completed in minutes and submitted electronically, compared to brick and mortar loans, which may require in-person application and lengthy credit review.
  • Quick Service and Response – Your online loan application receives prompt attention from Omacl loan brokers. Whether or not you’re approved for a bad credit loan, you’ll receive fast service and timely updates about your online loan request.
  • Fast Funding – Qualified applicants receive online loan proceeds directly to their current accounts. Online loans for good and bad credit exist for urgent short-term spending needs, so short term lenders don’t waste time transferring funds. When you can’t wait until payday for cash, online loans fill the void, propping up your finances whilst you wait for your paycheck.
  • Flexible Loans and Repayment Terms – Each applicant has distinct financial needs, so loans are issued in whatever amount best suits the conditions at hand. Whether you need £2,000 for car repairs or £200 for utility bills, you select the proper loan size for your circumstances. Flexible repayment terms are established before transferring money to your bank, using your payday schedule to establish affordable payback.
  • Unlimited Spending – Online loans are not restricted – you always determine how to spend the proceeds of your fast loan. Since the loans are repaid with interest, online funding should be applied with discretion, addressing your most pressing financial concerns in order of importance. Short-term online loans for bad credit are commonly used for household bills, medical expense, moving costs, car repairs, and home maintenance, as well as other urgent financial matters.
  • Increased Access – Qualified applicants benefit from bank loans and financing provided by building societies and credit unions. Online loans complement conventional finance, providing increased access for applicants with imperfect credit histories. Whilst multi-year, traditional financing may call for in-depth credit checks, short-term loans online offer a streamlined application process, often resulting in higher approval rates than traditional sources. It may be possible to secure an online loan for bad credit, even after conventional lenders deny your finance request.

Each call for credit is unique, so it pays to compare and contrast various funding options even if there may be very few borrowing options, before making costly commitments. When quick cash is the only solution to your finance dilemma, online loans may furnish the timely financial resources you need, without a long wait.

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

Does Credit Reporting Impact Loan Approval?

Credit reference agencies (CRAs) are for-profit companies that track consumer credit behaviour. Organisations such as TransUnion, Equifax, Experian, and other CRAs monitor various aspects of your financial life, keeping timely records about your finances. Each time you apply for a bank loan, the lending institution requests information from your credit file, supplied by top UK credit reference agencies.

online loan bad credit

Comprehensive credit checks help banks and building societies evaluate loan candidates, providing credit histories as well as individual credit scores. Each credit agency creates its own reports, so credit checks may be slightly different, from one CRA to the next. Despite these minor variations, credit reporting is reasonably consistent, reaching consensus about individual consumers. You won’t get a glowing review from one CRA, only to receive a failing grade from another; the organisations have access to similar information, so their reports are comparable.

Credit reports contain information about individual consumers, including:

  • Name
  • Address
  • Date of birth
  • Current amount of outstanding debt – Credit reference agencies track your finances, including the amount of credit utilised at any given time. Your store accounts, credit cards, and other outstanding debts comprise a total, which can work against you, if you’re prone to carry excess balances. The information is important to prospective lenders, because your existing creditors are first in line, recovering unpaid obligations. Should you go bankrupt and default on a new loan, the issuing bank must wait until your other debts are settled, before recovering unpaid balances.
  • Late payment information – Your credit report not only shares information about late payments on current accounts, but your file also outlines poor payment histories on past accounts. Though creditors may extend a one-time courtesy, overlooking a single late payment, a pattern of paying late will eventually show up in your file, resulting in a lower credit score.
  • Electoral role registration – You should be registered to vote at your current address.
  • Count Court Judgements (CCJ) – Working with your creditors to come up with informal solutions is the best way to resolve payment problems. If you’re unable to come to terms with credit card companies and others creditors, they may initiate legal action against you. County Court Judgements and other financial actions have a devastating impact on your credit score and may undermine credit approval.
  • House repossessions – Losing your house for non-payment has drastic consequences for your credit score. Information about house repossession is conveyed in your credit report, alerting prospective lenders to your history of mortgage default.
  • Bankruptcy – Bankruptcy can help you clear debts and have a fresh start, but the measure ruins your credit references. Applying for bankruptcy is a last resort for credit-challenged consumers with nowhere else to turn for financial relief. Expect to recover for years after claiming bankruptcy, slowly restoring your credit score over time.
  • Individual Voluntary Agreements (IVA) – In some cases, it may be possible to avoid bankruptcy by entering into voluntary payment agreements. An IVA may not cause as much credit damage as bankruptcy does, but your credit score will nonetheless suffer from individual voluntary agreements.

How to Maintain a Healthy Credit Score

Online providers may have greater flexibility approving bad credit loan applicanions than traditional lending institutions do. Credit review for short-term online loans typically focuses on earnings and employment, rather than the comprehensive credit checks used by banks. A bad credit history doesn’t necessarily disqualify your loan request; however, positive credit references always work in your favor. Use the following tips to establish and preserve a healthy credit score.

online loans bad credit

  • Always pay on time – Creditors count on timely payments; they won’t hesitate to report late payers. To avoid negative credit reporting, pay your mobile bill, car payment, credit cards, utilities, and other expenses on time, every time.
  • Open credit accounts as needed – You may be tempted to open more credit accounts than you need. Though offers and incentives from credit card companies may seem too generous to pass up, it doesn’t make sense to open unnecessary lines of credit. Annual fees and card charges aside, excess credit also weighs heavily on your credit score.
  • Check your credit report – Credit reporting influences financial outcomes, so an error in your file can undermine your credit health. Checking your credit report at least once a year provides a heads-up when information is inaccurate, enabling you to correct errors before they grow into bigger problems.
  • Avoid overutilisation – In addition to monitoring the amount of credit available to you, your credit report also indicates how much credit is utilised at any given time. An unhealthy utilisation ratio shows you’re prone to maximising credit cards and pushing credit lines to their limit. Rather than bourgeoning balances in every account, prospective lenders prefer signs of judicious credit use, with balanced utilisation.

A history of bad credit can interfere with bank loans and other conventional financing. Fortunately, online loans for bad credit borrowers offer short-term financial relief, when conventional avenues are closed by imperfect credit. The flexible alternative resource provides up to £2,500 for qualified applicants needing to get cash now between paydays.

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