SafetyNet Credit

SafetyNet Credit has entered into administration and is no longer accepting applications for credit, but the lenders on our panel ARE. Let Little Loans help you search for a suitable loan for your circumstances.

Little Loans as a SafetyNet Credit alternative

  • We’re a credit broker, and we’re authorised and regulated by the Financial Conduct Authority (FCA).
  • We work with a panel of over 30 responsible lenders.
  • Search for a loan from £100 to £10,000.
  • Repay your loan between 3 and 60 months, depending on how much you borrow.
  • Our service is completely free to use.
  • No-obligation quotes.
  • Check your eligibility today with no impact to your credit score.*

*If you’re approved for a loan and decide to make a full application directly with the lender, you will be required to undergo a hard credit search. Hard searches will remain visible on your credit file for up to 12 months, and too many hard searches within a short period of time could negatively affect your credit score.

What was SafetyNet Credit?

SafetyNet Credit was a trading name of Indigo Michael Ltd. The company was authorised and regulated by the Financial Conduct Authority (FCA).
SafetyNet Credit offered a personal line of credit – sometimes referred to as a revolving line of credit - with amounts up to £1,000 for existing borrowers and £500 for new customers.

What is a personal line of credit?

A personal line of credit allows you to withdraw money from a credit account as and when you need it. You only pay interest on the amount of money you withdraw. As you pay back your balance, the overall funds replenish for you to use again, should you need to.

What happened to SafetyNet Credit?

Sadly, SafetyNet went into administration on January 9, 2023. Joe O’Connor, Clare Kennedy, and Simon Appell of AlixPartners were appointed as Joint Administrators.
The company reported experiencing a challenging operational environment.

Can I still apply with SafetyNet Credit?

No, SafetyNet Credit has ceased trading and are no longer able to accept applications from new or returning customers.
From April 9, 2024, onwards, existing SafetyNet Credit customers will not be able to access their account dashboards.

I want to make a complaint about SafetyNet Credit; who should I contact?

The administrators state that no new complaints or claims will be accepted from April 15, 2024. Any claims that were submitted before this date will be reviewed and responded to accordingly.
You can find further information here.

Is there anything like SafetyNet Credit?

If you’re looking for an alternative to SafetyNet Credit, Little Loans might be able to help you. We’re a credit broker working with a panel of lenders who offer short-term personal loans.

Can anyone search for a loan with Little Loans?

Before you search for a loan, you should make sure that you meet the eligibility criteria.

  • You’ll need to be over the age of 18;
  • A UK resident with at least three years’ worth of UK address history;
  • Have a UK bank account with a valid debit card; and
  • Have a regular source of income paid directly into your bank account.

Can I get a loan with bad credit?

It might still be possible to apply for a loan if you have bad credit. A number of the lenders on our panel are willing to consider applications from those with less-than-perfect credit scores.

You should bear in mind that if you are offered a bad credit loan this is likely to be at a higher interest rate than a standard loan. Also, it may not be possible for you to borrow as much money as you need.

How can I search for a loan with Little Loans?

The Little Loans process has been designed to be as straightforward as possible. We’ve broken each stage down so you know what to expect.

  1. Select how much money you need to borrow and choose your ideal term. Complete our online form – we’ll ask you for some details about your employment status as well as your income and outgoings.
  2. In just 60 seconds, we’ll run a soft search on your credit file and scan our panel of lenders for a suitable match.
  3. If we’ve found you a loan you’ll be redirected to the lender’s website, where you can find out more details and decide if this is the right product for you.
  4. Should you wish to proceed with the loan we’ve found for you, you will need to make a full application directly with the lender. At this stage, you will be required to undergo a hard credit search. This will be visible on your credit file and will affect your credit score.
  5. If the lender is happy with the outcome of their checks, you’ll be sent a loan agreement. Read through the terms and conditions carefully before deciding whether to sign and return.

How quickly will I receive my money?

Some of the lenders on our panel are able to send your money the same day your application is approved, although please be aware that the time it takes for the funds to appear as available in your account will depend on your bank’s policies and procedures.

I’m worried about money. What can I do?

We understand that money worries can feel all-consuming, but please know that whatever you’re facing, help is always available.
You can access a range of support through organisations and charities such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.

Check out our 4.8 star rating on Feefo

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Straight forward

“Easy pleasant service, quick decision and easy account management.”

Laurissa Marsden

Representative example: Amount of credit: £1000 for 12 months at £123.40 per month. Total amount repayable of £1,480.77 Interest: £480.77. Interest rate: 79.5% pa (fixed). 79.5% APR Representative. We’re a fully regulated and authorised credit broker and not a lender