Instant Payday Loans

Whether it’s a broken-down car or a packed-up boiler, many of us have had to deal with a financial emergency at some point. In these situations, you might ask:

• Could I get a same-day loan online?
• Could I apply for an instant payday loan?
• Where can I get a payday loan instantly?
• Could I get a direct lender instant payday loan?
• What are my chances of getting an instant payday loan for bad credit?

We understand that these scenarios are highly stressful, but it’s crucial to take a step back and consider your options before you decide.

In the Little Loans guide to instant payday loans, we’ll explain why guaranteed instant payday loans do not exist, as well as explore other borrowing options.

What’s a payday loan?

A payday loan is when you borrow money from a lender and then pay back the money in full, plus interest, within a month.
People typically apply for a payday loan to help them cover an unexpected expense, such as a broken washing machine or a hefty vet bill.

What is an instant payday loan?

Generally speaking, an instant payday loan is a payday loan that’s paid out to you soon after your application is approved, typically the same day.
However, if you’re looking to apply for an instant payday loan, it’s very important to manage your expectations.

While some lenders could send your money within minutes of your application being accepted, please be aware that this doesn’t necessarily mean that the money will be available in your bank account right away. The time it takes for the money to appear in your account will depend on your bank’s policies and procedures.

Please note that each lender has its own payout timeframe; some may send your money the same day, while others may pay out on a specific day of the week.

Interested in same-day loans online? You can find out more in the Little Loans guide by clicking the link.

Could I get an instant payday loan?

As discussed, some lenders may send your funds shortly after your application is approved, but an instant loan cannot be guaranteed.

Related post: Fast Loans

It’s also worth pointing out that payday loan lenders are less common than they once were.

Instant payday loan alternatives

These days, many borrowers turn to short-term loans to help them plug a financial emergency. Unlike payday loans, a short-term loan does not have to be repaid within a month, and a range of repayment terms is available, offering you the opportunity to spread the cost of borrowing.

Little Loans is a credit broker. We could help you search for a short-term loan between £100 and £10,000, with a repayment term of 3 to 60 months, depending on the amount of money you apply to borrow.

Can I get an instant payday loan through Little Loans?

Little Loans is a credit broker, not a lender, and we do not work with any payday loan lenders. Instead, as we’ve talked about, the lenders on our panel offer short-term loans as an alternative to a payday loan.

Several lenders on our panel can send your money the same day as your application is approved, but again, it’s crucial to remember that the speed at which your loan is processed and becomes available in your account depends on your bank.

Remember, guaranteed instant loans do not exist.

Instant payday loans for bad credit

A history of bad credit might not necessarily prevent you from being considered for a loan, but again, please remember that instant loans cannot be guaranteed, and payout timescales vary between lenders.

If you’re looking for a bad credit payday loan alternative, Little Loans could help you search. We’re proud to work with several direct lenders who specialise in loans for people with bad credit.

Search for an instant payday loan alternative with Little Loans

Looking for a payday loan today with a direct lender?
Little Loans could help you search for a suitable alternative. The direct lenders on our panel offer short-term loans.
You can use Little Loans to help you search for a payday loan alternative online if you:

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

All credit scores welcome.

No credit check instant payday loans UK

Important: it’s not possible to get any type of loan without a full credit check. Guidelines set by the FCA require all authorised and regulated lenders in the UK to protect borrowers from taking out a loan that isn’t affordable to them. They do this by completing a full credit check, known as a creditworthiness assessment.
While you may feel apprehensive about undergoing a credit check, especially if you have a history of bad credit, please remember that these checks are in place to protect you.

You can check to see whether a company or individual are authorised and regulated and appears on the FCA register using the free FCA Firm Checker tool.

What should you do if you can’t afford to pay back a loan?

If you’ve taken out a loan that you can no longer afford to repay, please contact your lender; it’s best to do this sooner rather than later. The sooner your lender is aware that you’re struggling, the sooner they can work with you to put a plan in place that could help you.

We know this can feel like a scary step, but your lender is there to help, and they will handle the situation with empathy and understanding.

I’m struggling with money; what can I do?

We’re so sorry to hear that you’re in this position. Money worries can feel consuming and scary, but help is available. You can get free, impartial financial advice from any of the following charities and organisations: StepChange, MoneyHelper, Citizens Advice, and National Debtline.