A small loan is designed to help you cover the small and unexpected costs that crop up in day-to-day life. The amount generally given and classed as a small loan is somewhere between £150-£1000 and can be provided by a bank, supermarket, P2P, or through the help of a guarantor. There are small loans available for those with a good credit score and for those with a bad credit score; take a look at our comparison table to find a small loan that suits you.
What’s the catch?
A rare problem with small loans to be aware of is the possibility that your information could be sold on by the companies that advertise small loans. So, always look out for evidence that the website you use has been regulated by the FCA.
Can I apply for a small loan?
Each lender will ask for different criteria to be satisfied to allow you to pass an application for a small loan. Most lenders will ask for you to be 18 years or above, in possession of a UK bank account with a debit card that remains valid, be able to provide evidence that you are a UK resident, and, as with all loans, you must be able to demonstrate that you can meet the repayments, i.e. with a good credit score.