Provident

Written by:

Cara Bradley

5 minutes mins read

Updated: 2nd July 2024

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Provident Loans is no longer trading and are therefore unable to accept applications for credit.
However, if you’re looking for a loan between £100 and £10,000, Little Loans could help you search.

Reasons to choose Little Loans as your Provident Loans alternative:

• We’re a credit broker, not a lender, and we work with a panel of trusted and responsible lenders.
• Our lenders offer loans from £100 to £10,000.
• Repayment terms between 3 and 60 months, depending on how much you apply to borrow.
• No-obligation quotes.
• Our service is completely free to use.
• We’re authorised and regulated by the Financial Conduct Authority (FCA).
• Check your eligibility today with no impact to your credit score*.

*If you’re matched with a loan and choose to make a full application directly with the lender, you’ll be required to undergo a hard credit search. Hard searches will remain visible on your credit file for up to 12 months; too many hard searches in a short space of time could cause your credit score to decline.

Who was Provident?

Provident Loans was a UK-based, direct lender of doorstep loans, who traded for over 140 years. Customers could apply to borrow between £100 and £1,000, with repayment terms of either 13, 26 or 52 weeks.

Does Provident Loans still exist?

Provident Loans ceased trading in December 2021, blaming ‘shifting customer preferences’ and ‘changing industry and regulatory dynamics.’

Can I still get a loan with Provident Loans?

Provident Loans is no longer an active company and are unable to accept new applications for credit.

I was a Provident Loans customer; am I still able to make a claim against them?

The deadline for making a claim against Provident Loans was February 28, 2022. Any claims submitted after this date will unfortunately not be considered.

What are doorstep loans?

In the past, doorstep loans might have been considered by some borrowers as a convenient way to access funds, particularly for those who were unable to attend a high street branch.
An agent from a doorstep loan company would visit a customer’s home to complete the loan application and deliver the money. Repayments were also usually collected in the same way.
Doorstep loans often came with higher rates of interest than loans offered by mainstream lenders, such as high street banks.

Are there any alternatives to Provident Loans?

The lenders on the Little Loans panel do not offer doorstep loans. What they do offer, however, are short-term personal loans from £100 to £10,000, with repayment terms to suit you.

Our online form makes it easy for you to check your eligibility at a time and place that suits you and should take no longer than five minutes to fill out.
If you are matched with a loan with one of our lenders, your money could be sent the same day your application is approved, although the time it takes for the money to appear in your account will depend on your bank’s policies and procedures.

Who can search for a loan using Little Loans?

You can use Little Loans to help you find a loan if you:

• Are over the age of 18;
• Are a UK resident;
• Have a UK bank account with a valid debit card; and
• Have a regular source of income paid directly into your bank account.

I have bad credit - can I still use Little Loans to search for a loan?

Yes, you can. We welcome people with all credit scores to check their eligibility for a loan.
Some of the lenders on our panel are willing to consider applications from those with bad credit. If you’re accepted for a bad credit loan, you should bear in mind that this could be at a higher rate of interest, and you might not be able to borrow as much money as you’d like.

What does the Little Loans process look like?

The Little Loans process is straightforward. We’ve broken the journey down into five steps below, so you know what to expect at every stage.

1. Select the amount of money you need and choose your ideal repayment term. Our online form should take no longer than five minutes to complete.
2. We’ll run a soft search on your information; this stage should take around 60 seconds.
3. If you’re matched with a loan, you’ll be redirected to the lender’s website. Here, you can find out more about the loan and decide whether you’d like to go ahead and make a full application.
4. Should you wish to proceed, you will be required to undergo some further checks, including a hard credit search, which will remain on your credit file for up to 12 months.
5. If the lender is happy with the results, you will be sent a loan agreement. Be sure to take the time to carefully read through the terms and conditions.

If I’m approved for a loan how quickly will my money be sent?

Payout timeframes vary between lenders. Some of the lenders on our panel can send your money the same day your application is approved, although the time it takes for the money to show in your account will depend on your bank’s policies and procedures.

I’m struggling to repay my loan; what should I do?

If you’ve taken out a loan that you’re having difficulty repaying, you should contact your lender as soon as you can. This may feel like the very last thing you feel like doing; however, it’s important to reach out and explain your situation. You will not be judged. Your lender will appreciate the fact that you’ve been open and honest and will want to work with you to put a suitable plan in place moving forward.

If you’re worried about money…

Sadly, many of us will face money stresses at some point in our lives.
Try not to let your worries consume you. Help is available, whatever you’re facing.
You can access free, confidential money and debt management advice through organisations and charities such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.

This article was written in May 2024; all information was correct at the time of writing.