Small Loans for Bad Credit

£100 - £5,000 paid out by 09:39pm

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).

Online Lenders Offer Small Loans for Bad Credit Applicants

Various factors influence your personal finances, so you never know when a spending emergency will disrupt your financial flow. With savings on hand, you may be able to avert a crisis resulting from an unexpected expense. However, if yours is like many UK households, your rainy day fund may be insufficient to cover costs. Further complicating personal money matters, a history of poor credit can make it difficult to access short-term financing for pressing spending demands. Fortunately, small loans for bad credit are available online, furnishing fast funds for urgent finance needs and provide a favourable alternative to other types of loans.

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). 

Small Loans Furnish Flexible Solutions

Several types of personal financing address UK consumers’ finance needs. From car loans to mortgages, specialised funding opportunities accommodate wide-ranging spending demands. Some loans originate from banks and building societies, but these are not the only places to get a loan.

small loan bad credit

Online lenders offer straightforward borrowing alternatives, providing small loans for bad credit, good credit, and no credit applicants. The short-term loans furnish flexible solutions for a variety of personal finance needs.
Measuring your financial need is the best way to narrow your search for personal financing. Starting with a few basic questions, refining your search for fast cash leads you to the best possible loan for your circumstances.

  • Are urgent spending demands afoot?
  • Do you need a small loan or a sizable sum?
  • How soon can you repay a loan?

Answers to these and other questions about your finances can help you settle on the right type of financing. Small loans online may provide the quick access to cash needed for addressing pressing short-term financial demands.

Credit Considerations

When unexpected financial conditions strain your personal cash flow, you may need outside help, making ends meet. Banks, credit unions, and building societies provide avenues for individual financing, but with bad credit, you may run into obstacles getting your loan application approved. Before banking on a conventional loan, it’s important to understand how your credit file impacts loan approval.

Traditional lenders rely on comprehensive credit reports to evaluate loan applicants. The reports are drawn from individual credit files, containing information about each credit consumer’s history handling their finances. Small loans for bad credit originate with alternative lenders, so they may use a different formula to assess applicants. The efficient online approval process can work in your favour, with a so-so credit history.

From your earliest interactions with creditors, credit reference agencies keep tabs on your performance meeting payment obligations and managing various aspects of your finances. TransUnion, Experian, Equifax, and other credit agencies are responsible for documenting your performance and presenting the information to lenders, upon request.

To simplify the credit reporting process and provide a quick reference summarising an individual’s personal credit history, credit reference agencies assign a score, illustrating credit strength. If your credit score falls below a certain level, conventional lenders may be unwilling to offer financing. On the other hand, a high credit score opens doors to preferred rates and terms, as well as exclusive offers reserved for pristine credit applicants.

In addition to your credit score, you can expect credit reference agencies to share the following information with lenders and other creditors evaluating your personal financial history.

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
  • Legal Name
  • Present and Past Addresses
  • Date of Birth
  • Late Payment Information – When you apply for new credit, banks want to see a proven track record of making timely payments, before giving green lights to your application. Credit reference agencies not only report late payments on existing accounts, but the organisations also share information about late payments on past accounts. Each time you pay late, the delay knocks down your credit score, making it harder for lenders to approve new lines of credit. You can soften the impact of prior payment problems over time, by staying current on all your accounts. However, a pattern of late payments won’t be overlooked and may be enough to undermine approval from conventional lenders.
  • Current Outstanding Debt Balances – The amount of money you already owe is important to lenders, because a heavy debt load may interfere with your ability to make timely payments on a cash loan or line of credit. In particular, banks, building societies and credit unions may consider your debt-to-income ratio, which measures the balance between what you owe and how much you can afford to repay.
  • Electoral Roll Information – Your electoral roll registration should reflect your current address.
  • House Repossession
  • Insolvency
  • Individual Voluntary Agreement – When financial conditions deteriorate, heading toward insolvency, some UK debtors enter into voluntary agreements, providing an alternative to bankruptcy. Although individual voluntary agreements don’t knock down your credit score as much as some negative financial outcomes do, their effect on your score can be enough to block approval at banks and other conventional lending institutions.
  • County Court Judgements – Creditors have various options, recovering unpaid debts. Among them, County Court Judgements (CCJ) against you indicate persistent failure to make timely payments. Avoiding legal action such as CCJs is essential for preserving a good credit score.

Conventional lenders focus heavily on credit reporting when evaluating applicants. If your credit history is less than perfect, you may wish to consider alternative lending opportunities. Online loans for bad credit provide access to cash, when traditional resources fall short.

Advantages of Small Loans Online

Securing small loans online provides several benefits, compared to sourcing funds from conventional outlets. As you weigh the pros and cons of various funding opportunities, consider the advantages of alternative lending.

  • Seamless Service – Loan brokers such as Omacl connect online applicants with multiple lenders, without requiring individual applications for each provider. When you need money in a hurry, Omacl’s brokers furnish a time saving service, delivering a precise lender match, linking you with a preferred provider. The business is conducted online, providing efficient customer service with an experienced network of short-term lenders.
  • Simplified Application Process – Why make trips to lending institutions when you can secure small loans without leaving home? The streamlined application for small loans takes only minutes to complete, before being submitted online. In stark contrast to conventional funding sources, which may require mountains of paperwork upon application, the approval process for small bad credit loans starts with basic information.
  • Fast Turnaround Times – Online lenders understand the urgency associated with short-term finance needs. As a result, small loan providers process applications without delay, furnishing timely funding answers. Compared to traditional bank loans and other types of finance, which may take days or weeks to finalise, small loans for bad credit often clear within hours of applying. Once your loan application has been approved, and you’ve settled on a loan amount with your chosen lender, cash is quickly transferred to your current account.
  • Unrestricted Spending – Spending obligations represent a wide range of finance needs, as diverse as house payments and college costs. Small loans for bad credit are not restricted, so you can spend the money as you see fit. While it’s wise to borrow only what you need for a particular spending function, you decide how to allocate small loans, every time.
  • Flexible Loan Amounts – Small loans cover short-term expense, providing funds in the range of £50 – £2,500. Rather than borrow more than you need or try stretching an insufficient loan, small loans for bad credit directly address your finance requirements, with custom loan amounts you choose.
  • Straightforward Repayment – Online loans provide small sums, which are repaid within weeks or months. Payment terms are established up front, so there’s no guessing along the way. Straightforward repayment terms enable you to plan for the obligation, staying on track with timely payments.

Working with Omacl loan brokers not only streamlines the approval process, for added convenience, but the alternative source of small loans also funds without delay, providing quick cash when it’s most needed.

Am I Eligible for a Small Loan Online?

Credit considerations aside, you must meet a few basic criteria, in order to be considered for a small loan. For example, you must

  • be at least 18 years old when you apply,
  • legally reside in the UK,
  • maintain an active current account in your name,
  • demonstrate sufficient means for repayment.

Online providers commonly use a “soft” credit check to pre-approve applicants. Even if you’ve been turned away by conventional lenders, you may still be eligible for small bad credit loans. A soft credit pull doesn’t have an adverse effect on your credit file, and there’s no obligation to borrow, after submitting an application. There’s nothing to lose – you can apply in minutes and expect a fast response, whether or not you’re approved.

small loans bad credit

Small loans for bad credit provide a realistic lending alternative for UK consumers needing quick cash. The online option offers short-term funding for various spending needs without restriction – spend the money as you wish. When you need fast, flexible financing, small loans online can help you address your most urgent spending demands.

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