Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.
Representative Example: Amount of credit: £300 for 74 days with one repayment of £88.80 and one repayment of £388.80. Interest: £177.60. Interest rate: 292% pa (fixed). 1295.5% APR Representative.
What Are Small Loans?
Small loans are personal loans you receive from a creditor or lender. People often use these loans to help cover unexpected expenses, like medical bills or surprise car repair payments. These small loans are often required to be paid back in full by your next payday. But because small is a subjective term, this page can offer a more detailed look at what QuickQuid offers.
How Are Small Loans Different From Payday Loans?
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 – £1,000,† if approved, while other lenders may require you to take out more than £1,000. "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.
Does QuickQuid Offer £50 Loans and £100 Loans?
We understand that people get stuck in financial bottlenecks from time to time. You might only need £50 or £100, but that doesn't make the need for it any less substantial. Sometimes small loans like this can give you room to breathe when you're in a tight spot. That’s why QuickQuid offers loan amounts ranging from £50 – £1,000.† If you're in a jam, we aim to help you cover those unexpected expenses and relieve stress. If approved, you can certainly take out a £50 loan or a £100 loan with QuickQuid.
When Might I Use a Small Loan?
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. For more information about QuickQuid’s costs, check out our Rates & Terms page.
Does QuickQuid Offer Small Loans for Customers With Bad Credit?
Many creditors offer small loans to people who have less-than-perfect credit, and sometimes even those who have no credit. While QuickQuid does not offer “small loans for bad credit” per se, we do carefully review every application we receive and determine whether each customer is eligible based on their unique individualized information. Our loans are available to customers with less-than-perfect credit.
Why Choose Little Loans From QuickQuid?
QuickQuid is a lender you can count on. Since 2007, we’ve offered convenient loan amounts, multiple repayment options and fast funding to more than 1.4 million hardworking UK residents. We offer an online application, and if approved, you can get cash sent to your bank account within 10 minutes after approval.§ We offer customer support via phone, email or live chat available seven days a week and with no hidden fees, QuickQuid is one of the most trusted online lenders in the UK.
What Do I Need to Apply?
Our online application process is straightforward and transparent, and requires four things:
A UK bank account
Proof of a regular paycheque
You are at least 18 years old
If you meet these four requirements and you need a small loan, go ahead and get started with your application today!