Quick Loans

We offer a quick loans facility with an instant decision

Representative APR: 279.5% | Representative Example: Loan Amount: £300 | Borrowed for 60 days | Total Repayment: £420.82 in 2 monthly installments of £210.41 | Interest Charged: £120.82, interest rate 120.8% pa (Variable).

Quick Application

Immediate Decision

Fast Deposits

Understanding A Quick Loan And How They Can Be Useful

What Exactly Is a Quick Loan?

Quick loans are a type of funding provided to people who need a immediate cash support, normally on a short-term basis. This loan type is expected to be issued in a short period of time by the lender. They are normally provided by lenders in small personal loan amounts that need to be paid back within a certain time period.  

The process of a quick loan is usually a less rigorous screening and approval procedure. They are even extended to people who have a history of bad credit. 

a girl looking at her bills considering to get a quick loan

Why Might I Need a Quick Loan?

The purpose of a quick loan is to deal with any pressing financial needs immediately. There’s a number of reasons one could come in handy, but it’s always important study your funding options no matter how fast you need a loan.

A few reasons a quick online loans service might be useful could be:

  • Finding yourself in a situation where your car has broken down (if don’t have breakdown cover this can be expensive)
  • Currently have an unexpected or unpredicted bill that need paying
  • Don’t have the time to go to your local bank to apply for a loan
  • You don’t have access to a credit card
  • Any urgent house repairs e.g. your boiler or a burst water pipe
  • Your employer underpaid you

Such conditions can happen at any time, that’s why we choose to work with lenders who can offer a very quick turnaround.

a man checking if he can get a quick loan with bad credit

Can I Get A Quick Loan with Having Bad Credit? 

It might difficult getting a loan quickly when you have bad credit. Either the terms will not be in your favor, or the lender might simply refuse to lend you money. Most lenders just need to do some further checks, which can extend the process time a bit. 

However, requiring a quick loan with bad credit is definitely not an impossible task. Certain lenders specialise in providing quick loans to such people. Still, it is also better to have a back-up plan in case you fail to acquire them.  

If a quick loan is given to an individual with bad credit, they might see an increase in interest rates if they qualify for one. To note, you should always consider the cost of borrowing to ensure its affordable.

Can you explain the term “bad credit” quickly?  

Bad credit is a situation where an individual fails to pay his/her borrowed credit. Customers find themselves in a place where they’re unable to make necessary payments to lenders, thus earning them a negative credit score. 

Having a history of defaulting on payments usually means you are likely to continue this habit in the future. This is where your credit score comes into play so the lender can conduct a quick assessment.

One must remember not to confuse bad debt with bad credit. Bad debt is regarding those who have fallen into some sort of debt repayment plan or write off. The chances of obtaining a loan with bad debt are pretty nonexistent, unless you look at a guarantor loan. 

Do your lenders carry out a credit check on a quick loan?

Yes, you will normally go through the process of a credit check if a lender offers you a quick loan. The reason why is obviously really.

A credit score is a rating given to judge your creditworthiness based on your ability and frequency to pay back a loan. Having this rating is quite a crucial step for any lender. It determines what type of loan (rates etc.) they can offer you, the lower the score the better the rates.  

an infographic showing the process of a quick loan

How Does the Process of Quick Loan Work? 

Quick loans are ordinarily applied for via the web as this offers a swift approach to submitting your application. This method typically works faster than other traditional loan options. If the application is successful, then you might receive the loan as quick as 24 hours. In some cases, it can only take around an hour to deposit.  

The process is as follows:

  • When you first apply for a loan, your application goes under the review process by the lender
  • They review your situation (reason for needing the loan, check affordability) 
  • The lender then checks your creditworthiness
  • If you’re offered the loan, a confirmation email/letter is sent with a copy of your agreement to sign
  • The lender then makes the payment to the receiving bank

Your agreement will set out the terms of the loan, applicable interest rate and the period of repayments. Any charges or fees will also be addressed for any late payments. 

a pretty girl holding a banner introducing quick payday loans with direct lenders

Can I Get A Quick Payday Loan with Any Lender?

One popular type of loan you can get quickly is a payday loan, there’s also a fruitful supply of lenders to apply with. Before going into how you can apply, one needs to understand what quick payday loans are, who direct lenders are and how they are both interconnected.  

What are quick payday loans?  

A quick payday loan is based on a small amount of borrowing, also known as cash advance loans. Lenders are usually less focused on your credit rating and more so on your current financial condition. It is supposed to be paid back when you get your next payment from work.  

Points to remember when seeking a quick payday loan:

  • They mostly operate on high-interest rates and are given for a short time period
  • Since they have a high cost associated with them, it is not advisable to use them for a long-term basis
  • If you need to use one for a higher-cost purchase, you will have longer high interest repayments
  • Try to only take out these loans for financial emergencies
  • Use approved credit brokers & lenders 

How “quick” is a quick loan with a direct lender?

It can be time-consuming considering the amount of effort one has to put in before qualifying for a loan with each lender. It’s always wise to pre-inform yourself on who to approach and who to avoid, so you select the best lender to your requirements. For example, if for some reason one lender refuses, then you’ll have to start the whole process again with another lender.  

However, if you find the right lender the process can be wrapped up pretty quickly, as some lenders do offer same day payday loans

A direct lender is a financial institution which decides whether you are suitable for a loan or not. This is obviously after checking your credit rating report. If they find it satisfactory, they will then process the loan directly to you. 

There are different types of lenders meaning, different guidelines, loaning amounts and time frames. 

a young man showing how quick the loan process is with loanbird

How Can I Get A Quick Loan Online?  

A quick loan online can be acquired through a number of brokers and lenders websites. As a broker ourselves, we understand that every visitor expects a fast-online service. That’s why we’ve adopted a platform to deliver a loan decision in seconds. 

You can apply online at anytime, anywhere and on any device. We’ve made our application form available on the internet 24/7, including holidays and weekends. 

What happens once I’ve applied for a quick loan with you?  

  • Your application is sent to many prospective lenders who quickly review your application
  • You’ll then hold on for a few seconds to get an approval
  • Once a decision has been made, you are presented with some options
  • It’s then up to you to decide to go ahead with the lender or not

What are the typical terms with your online lenders?  

Our online lenders terms and rates will always be clear to you before you agree to any loan. As we have access to a nationwide lending panel, we conduct an in-depth search with these lenders for you. These results will then address a brief overview of the lenders terms.

When applying for a quick loan, you should always check the terms set out in your agreement adhere to what you’re happy with.

These main terms usually include:

  • The APR – though this depends on the lender and varies from one to another, there is an interest rate cap. So, for your own piece of mind check the lender is using the correct APR
  • The financial charges – what it costs you to borrow and any late fees
  • The total amount that is owed  
  • The duration of the loan term and the relevant period
  • What your renewal options are and what kind of extension plans are available for you
  • The consequences if you fail to repay the loan by the predetermined repayment date
  • A cooling off period

(Your lender will obviously set out a more detailed set of terms)

two people being careful when applying for a loan online quickly

What Do I Need to Be Careful of When Applying Online? 

You need to be careful when applying online. It’s been known that certain brokers charge you to search for a loan, stay away from these. Also, you should thoroughly check the clauses and be mindful of all the terms that you are agreeing to.

Once you do receive your loan, you need to use the money responsibly. For example, use it to clear your debts or to cater to any urgent expenses. Also, make sure you pay the loan back on time, it’s important to build a good reputation with your lender. This will mean any future dealings will work in your favor.  

a happy woman applying online for a quick loan with no guarantor

What Is a Quick Loan with No Guarantor?  

A quick loan with no guarantor basically operates in the completely opposite way of a guarantor loan. It’s a loan that is ensures you don’t need a guarantor tied to you to pay your loan for you. This loan type offers a quick response as you don’t need additional people to co-sign on your agreement. Needing a guarantor can result in a lot of back and forth activity.

Better still, not requiring a guarantor means avoiding the hassle of further paperwork. 

Anyone can apply for a no guarantor loan with LoanBird, even if you have a poor credit rating. If you know you can’t get a loan off your own accord then a guarantor would be the next option. 

Concluding Quick Loans with LoanBird

If you’ve searched for a quick loan, you’re in the right place. Our versatile lending facility has been designed to help out people with good or bad credit.

We have a speedy application process that ensures you get a fast decision, also aiming to get your loan approved on the same day. 

Most of our lenders now only require an e-signature, thus meaning the transfer of your funds is quicker.

Representative APR: 279.5% | Representative Example: Loan Amount: £300 | Borrowed for 60 days | Total Repayment: £420.82 in 2 monthly installments of £210.41 | Interest Charged: £120.82, interest rate 120.8% pa (Variable).

Our website is completely free for you to use, but we may receive a commission or fee from some of the companies we feature or introduce you too.

Loanbird.co.uk is a registered Trading Name of RJW Assist LTD. RJW Assist LTD is registered in England and Wales (Company number: 09470548). Registered Address: Brook House, 40 Cuthbert Road, Stockport, Manchester, SK8 2DT. Licenced by the Information Commissioners Office: registration number: ZA436430. RJW Assist LTD is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under the reference number: 788094. We are a licenced credit broker, not a lender. Loanbird.co.uk does not provide any loan or consumer credit products directly.

Timescales on receiving your funds may vary from lender to lender and depends if your bank accepts faster payments. The loan amount and interest rate offered is subject to the lender’s requirements and approval.

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