WARNING: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk

Please note: We are a broker, not a lender, and do not make credit decisions.

Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable).

Subject to application being approved by the lender. Not all lenders are able to provide up to £5000

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What are small loans UK?

Small loans, as you can guess are loans which are of a small amount. Usually these loans are under £5,000 and called payday loans or short term loans.

Here at 1st Class Loans we offer small loans UK via our quick and 100% online application form. As we are a broker and not a small loans direct lenders, we can help you find the lowest rates to your circumstances by sending your application in to a pingtree.

A pingtree can increase your chances of getting accepted, but not only that, it could also save you money on your small loan.

That being said, you must only take a UK small loan if it is your last resort. We recommend a few alternatives to small payday loans in our blog

What are the different types on online small loans?

So there are a few different types of small loans online. Do research and find which one might be best for you. Also, make sure you go out and get quotes. This could save you money!

  1. Small payday loans – As mentioned above, these are the most popular small loans. These are usally £100 pound loans but can go up to around £5,000.
  2. Small business loans – These small business loans are usually between £50,000 to £100,000 which still sounds a lot of money but as a business loan, it is actually quite small.
  3. Small Personal Loans – These are usually small loans low APR starting from £1000. These small personal loans will have lower APRs than short term loans.
  4. Small loans bad credit – These are small loans for bad credit. The APR might be higher on these loans due to you having bad credit. For more information about small loans bad credit please see here – very bad credit loans page

FAQs about Small Loans UK

Below are some of the most frequently asked questions

Can you get a small loan for unemployed?

Some lenders will still accept you even if you are unemployed, however, there is a very high risk you won’t get accepted as it is a requirement a lot of lenders look for. Be careful and try not to apply on to many loan websites as this could damage your credit score.

What are the best small loans?

This will be down to personal preference, how much you are looking to borrow and your credit score. No one can claim they are the best small loans direct lender or offer the best small loans.

Do you do small loans no credit check?

Similar to the question above, no one can offer a small loans without credit check because it is an FCA requirement. However, here at 1st Class Loans, we can offer soft search loan quotes. Please see No credit check loans page.

Conclusion

Like all fast loans, take your time and find the right loan that is best for you and as always, try to find an alternative first. Taking an instant small loans out should be last resort.

If you are struggling financially, please seek financial debt advice from Step Change UK

our blog