Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £300 for 71 days. One total repayment of £470.40. Interest: £170.40. Interest rate: 292% pa (fixed). 1301.2% APR Representative.
Small loans are personal loans you receive from a creditor or lender. Often, people use these loans to help cover unexpected expenses, like medical bills or surprise car repair payments. Many creditors offer small loans to people who have less-than-perfect credit, and sometimes even those who have no credit. Some of these small loans are required to be paid back in full by your next payday.
Approved customers can get up to 1,000 pounds,† but not every customer needs the full 1,000 pounds. If you're in a tight jam, you might need something to get your car working so you can get back to work. We aim to help customers with unexpected expenses because sometimes those expenses add unneeded stress. If approved, you can certainly take out a 100 pound loan with QuickQuid. We understand that our customers get stuck in financial bottlenecks. You might need only 100 pounds, but that doesn't make the need for it any less substantial. Sometimes small 100 pound loans like this can give you room to breathe when you're in a tight spot.
By rule of thumb: There is no difference. However, some small loans may be referred to as open lines of credit. Still others are called running credit accounts. These are loans that can be drawn from multiple times, until you reach your credit limit. Small payday loans usually don’t have the option to be drawn multiple times without reapplying. Creditors often use different names to add distinctiveness to their products. Pay attention to a small loan’s borrowing range and the creditor's reputation. For example, QuickQuid allows its customers to take out an amount between £50 – £1000,† if approved. Other lenders may require you to take out more than £1000. "Small" for some people may only mean £500, which is significantly less than some lenders' minimums. Also, keep in mind that small payday loans, such as QuickQuid's short term product, are often expected to be repaid in full by the time you receive your next paycheque.
When unexpected expenses catch you off guard and you're in a bind, a "same day loan" from QuickQuid can be a helpful way to ease financial woes. To find a small loan that suits you, make sure you know how much you're borrowing and how much it will cost. Find a lender like QuickQuid that can work with you to find the right small loan, repaid over 1, 2 or 3 repayment periods.
More than 1,200 customers at the independent rating site Reviews.co.uk have given us 4.4 stars out of 5. We offer an online application, where if approved, you can get cash sent to your bank account within 10 minutes after approval.§ With no hidden fees and customer service via phone, email or live chat available seven days a week, QuickQuid is one of the most trusted online lenders in the UK.