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Short Term Loans
£50 - £995
Rates from 278% to 1576%
3-12 month repayment
£1k - £25k
Rates from 4.7% to 287%
3-36 month repayment
Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances.
† Subject to lender's requirements and approval. Not all loan amounts are eligible for 20 minute payouts. Your bank may increase the time you receive the money considerably.
7 Benefits of Through Loanovao
There are no fees to submit your request and no obligations.
You can be sure that your information remains with us – no 3rd party sales.
Get Results Fast
After you submit your information we can match your lender instantly.
E-sign the contract and the cash could be with you in as little as an hour.
Borrowing Power Calculator
Find out how much you can afford to borrow before you apply with our borrowing power calculator.
Apply from any device
You can start and complete your personal loan application on any device. You you can return to and complete unfinished application made online within 14 days.
Online Status Tracker
Whether You have Submitted online, at a branch, or over the phone, you can track your personal loan application online.
See What Other Kinds of Loans We Do
- Other Loan Varieties
- £100 Loan
- 6 Month Loans
- Car Loans
- Cash Cow Loans
- High Risk Loans
- Cash Loans
- Mini-credit Loans
- Mobile Loans
Though we specialise in Doorstep or Home Collection loans, we also offer a wide variety of other forms of finance to help you find the perfect plan to suit your needs
It doesn’t matter how much you are looking for or what your credit history is like, we will be able to find you the best rates possible.
Fairly self-explanatory and so easy to get, a £100 loan is for those times that you need a little extra cash and quickly. Nearly anyone can get one of these loans with no issues at all, regardless of your credit history.
This type of loan is designed specifically for those that have an extremely bad credit score and are very likely to be refused by any normal lender due to their high risk. A Guaranteed High Risk Loan means that anyone that has been refused multiple times in the past or those that have been blacklisted will still have the chance to get the money they need.
An Instant Cash Loan is for those that are in a hurry to get the finance now. By using this sort of loan you will find that you get the funds in no time at all. Once approved you will get the cash straight into your account within 15 minutes. Fast Loans is one of the fastest ways to gain access to money on the loan market. Even those that have been blacklisted will be able to apply.
How to Apply – Made Easy
Start your application
The application process itself is a very quick and simple one. You simply need to fill out our online form with a few details and your good to go. All you need to qualify is some personal details, a full UK address and the details of your current employer to prove that you are capable of repaying the amount.
Get Result Fast
Our dedicated team of experts work at breakneck speed as soon as they get your application. They will check your requested amount against over 40 different lenders that we work with. Within a few minutes you will get your response and if accepted you will be passed on to the lender.
Get Your Cash
Once accepted by one of our reputable lenders, provided all your details are correct, you will get the money straight into your account within the hour. This makes our lending process one of the fastest possible ways to get finance. That is everything, you can then spend the money as you want.
Bad Credit Loans From UK Direct Lenders
- Being refused a loan due to bad credit used to be a common reason for not being able to lend.
- Many UK lenders have a more relaxed approach nowadays and are more likely to consider less than perfect credit.
- By comparing direct lenders you can find the cheapest option available for your own needs.
If you are lucky enough to have an outstanding credit score backed by a reliable source of income, your chances of getting approved for a loan by a legit lender are usually assured. However, the situation can be quite difficult if you have a bad credit rating.
Most banks and other financial institutions will simply frown upon and even deny your loan applications if your credit history is less than appealing. The good news is that there are other lenders who can give you quick and easy-to-apply loans regardless of your credit rating.
It is, however, important to understand how bad credit loans work before you commit yourself to one. Bad credit loans can be quite beneficial to anyone with urgent financial needs or those having a cash flow problem.
There are many people all over the UK who have benefited from bad credit loans and so can you.
What are bad credit loans?
Bad credit loans are a form of credit in which the lender does not focus more on the borrower’s credit history than the affordability of the loan and the ability of the borrower to pay back the loan on time.
This means that instead of using the traditional methods of running a credit check on the borrower, the lender simply checks if the borrower can afford to pay the loan before approving or rejecting his or her application. If you have a steady job or a reliable source of income, you will be approved for a bad credit loan despite your bad credit history.
How fast will I receive the funds if my bad credit loan is approved?
Once your application has been approved, you will receive the money on the same day or even within the hour depending on the lender you choose.
Most lenders will transfer the money to your bank account in just a few minutes but definitely within the same day. You can even contact the lender if the funds take too long to appear in your bank account.
To avoid delays, make sure that you provide correct bank details on the application form. Keep in mind that you will need to have a current account in a UK bank into which the loan will be paid.
Can I use a bad credit loan for any purpose?
Of course, you can. One of the best things about this short-term loan is that there are no questions about how you plan to spend the money.
Unlike banks and other institutions that want to know how you plan to spend the money they give you, short term loan direct lenders do not restrict you to specific projects or purposes to spend your loan on. You won’t be denied the loan simply because of the reason or purpose you intend to spend the money on.
How long does it take before I know if my application has been approved or denied?
All the lenders we work with understand that when you apply for a bad credit loan you need the money fast to take care of urgent issues. This is why loan applications get an automatic instant decision regardless of your credit status. You’ll instantly know if your loan has been approved or not whether you have good or bad credit.
Will my credit history affect my loan application?
Gone are the days when bad credit meant that you could not apply for any loan. You can easily apply and get a quick loan on the same day despite your bad credit history. Having a bad credit history will not exclude you from getting a loan.
In fact, most of the lenders we work with have some of the highest approval rates in the personal loans industry. The online application process takes just three to five minutes to complete and you get an instant decision about loan applications. You can apply for any amount up to a maximum of £2,500 or even more depending on the lender’s limit. Your credit rating has little effect on the decision to give or deny you the loan.
Bad credit loans are created for people whose loan applications have been denied by banks and other financial institutions because of the borrower’s low credit score. If you urgently need money for something important but feel that your low credit score will prevent you from getting a loan, bad credit loans are your best option.
Most of the lenders who give out bad credit loans understand that the borrowers may lack good credit scores but are capable of paying back the loan. The lender we match you with may perform a credit check on you but this is usually a soft search to understand your financial history better but not to deny you the loan. It is quite possible to get the loan despite your spotty credit history.
How do I choose a legitimate bad credit loan lender?
There are many lenders today providing all types of loans including bad credit loans. It is therefore important to take time and research to find the best bad credit loan lender with the lowest interest rates and favourable terms.
You don’t want to jump onto the first lender you come across or you might end up paying a lot more than you have to. A good lender will give you a good deal on the loan. It will also be important to ensure that the lender you choose is fully authorised by the FCA.
To help you find the best bad credit loan lenders on the market today, LoanOvao provides an easy-to-use and no fees platform to submit a request for any type of loan. Our platform is secure which means your information remains with us and is never shared or sold to third parties. We also ensure that you get fast results once you submit information and we match you with the right lender instantly.
We even have a borrowing power calculator to help you determine how much you can afford to borrow before you submit your application for the loan.
Competitive Company Examples
£200 loan repayable over 20 weeks at £15.00 per week, Rate of interest 50% fixed; Representative 756.5% APR, Total Amount Payable is £300.
Total amount of credit: £200 | Duration of agreement: 33 weeks | Interest rate: 102.40% per annum (fixed). 33 weekly repayments of: £10 | Total amount repayable: £330 | Representative 433.4% APR.
5 most recent personal loan reviews
Once I had sorted the application signed my agreement, and got my guarantor to sign his, we both had a phone call within the hour, no issues with either of us and I got a pay out in 25 mins, couldn't have been any better, service on the phone was great nice people to talk to 👍🏻
Review posted by Jack Emberton, Bath
Ease Of Use
Value For Money
This was the smoothest process one could hope for! I had previously gone on a wild goose chase with Avant Credit (who are a joke) and then listened to the most ridiculous rates from Everyday Loans (the biggest joke of them all!) and so to get quick and friendly service form Finanta was a pleasure. the customer service staff are extremely friendly and my loan was paid out within a few hours of applying. I would recommend to anyone. My credit wasn't the best but they still accepted me, cant speak highly enough of them!
Review posted by Ricky Hutchens, Shrewsbury
Ease Of Use
Value For Money
Excellent Customer Service, the staff were very helpful and polite. I would recommend Ablrate Loans to my Family and Friends. Swift easy process in which to apply and the loan (monies) was deposited into my account well within the 48 hour frame time. Another satisfied customer 🙂
Review posted by Angie Foley, Tuxford
Ease Of Use
Value For Money
Loanovao is an introducer and not a direct lender
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Late repayments can cause serious financial issues. For help, go to moneyadviceservice.org.uk