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

15 Minutes Loans

Are you looking for a 15-minute loan and are you considering applying to a direct lender? You might want to consider using a broker like Little Loans instead. That’s because we might be able to connect you with direct lenders happy to work with borrowers whose credit scores may not be perfect.

In the past, the only place that many people could go for a short-term loan was a pawnbroker. But using a pawnbroker comes with its own disadvantages.

With a pawnbroker, you trade an item of value to you such as a watch, jewellery, or an antique as security for your loan. You then pay interest on the loan which has been secured on your item of value. Once you’ve paid off your loan, the pawnbroker returns your item to you.

But what if you couldn’t keep up with or fall behind on your repayments? You’d lose the item you gave across as security forever. Thankfully, Little Loans connects borrowers with lenders who provide loans that they can afford, and our lenders don’t require you to send them your valuable items either.

It’s understandable that, when you’re looking to find a short-term loan, you’ve considered the financial situation you’re in before you make the decision to apply for one.

You’ll most likely have a lot of questions on issues like credit checks, what the chances are that you’ll be approved, repayment terms, and the amount of interest you’d pay on your loan.

In this article, we’ll provide the answers you need on any questions you might have about direct lender loans:

  • What are the advantages of 15-minute loans compared to other loans?
  • What type of direct loans do Little Loans offer?
  • What's the process for acquiring a loan?
  • Do direct lender loans require a credit check?
  • Direct loan lenders for people with bad credit
  • Reasons for applying for a 15-minute loan from a direct lender.
  • Guaranteed lender loans - do they exist?

What are the advantages of 15-minutes loans direct lenders compared to other loans?

Little Loans is a broker – we act as a middleman between the customer and direct lenders. And there are a few major and important reasons why we believe that applying for a 15-minute loan through a broker like us can help you find an affordable and competitive option.

When searching for the best bad credit loans, most people want to find loans which are both affordable and competitive for them. A broker uses the information you provide them with to contact the lenders on their panel which are most likely to approve your application.

Let’s say however, that you decided to contact the individual lenders yourself. Each lender has their own requirements and criteria for the type of borrower they look for so there may be a chance that your loan application would be automatically rejected anyway.

When you complete your application for a short-term loan through a direct lender’s website, that lender is then required to carry out a hard credit check on you to determine whether you’re eligible for that loan.

Hard checks negatively affect your credit score. It might be better for you to restrict the number of direct lenders you apply to because the more direct lender applications you make, your chances of being approved will likely go down with each lender.

This is where a broker like Little Loans comes in. By using a broker like us, only one hard credit search is carried out by the lender whose website we redirect you to after you’ve completed the application form on our site.

What type of direct loans do Little Loans offer?

Little Loans work with reputable and established lenders, authorised and regulated by the Financial Conduct Authority (FCA), for borrowers looking for an instant decision loan for between £100 to £5,000 repayable over 3 to 36 months. We specialise in helping people with bad credit find a loan.

What’s the process for acquiring a loan?

It’s simple to apply for a loan with a broker like Little Loans. You could even have your loan in your bank account within minutes*.

But what does the application and approval process involve?

Firstly, all potential borrowers must complete an application form on the Little Loans’ site. Once you’ve submitted your information to us, Little Loans then sends your application to the lenders on our panel who are more likely to be able to say “yes” to your loan.

Each lender will assess your application by performing a soft credit search on you. A soft credit search does not affect your credit score and it is only visible to you on your credit report.

When we’ve heard back from the lenders, you’ll be redirected to the website of the lender on our panel most likely to be able to offer a competitive and affordable loan for you. It’s only when you’ve completed the application form on the lender’s website that a hard credit search will be carried out.

If you’re approved, the lender will then present you with an offer which includes all the key information you need to make the right decision for you – the information you’ll see will include the terms of the loan, the interest rate, and the repayment details of the loan.

If you are happy to proceed with the loan, just accept the lender’s terms and conditions and then your payment will be processed, and the money should appear in your nominated bank account within minutes*.

Do direct lenders require a credit check?

All FCA-authorised & regulated lenders must run hard credit checks on any borrower who has completed and submitted a full application.

Direct loan lenders for people with bad credit

The way that lenders operate has changed significantly over the past decade or so. It’s now possible for borrowers with bad credit scores to find competitive and affordable short-term loans. People with bad credit can take out loans even after a credit check has been run, subject to eligibility.

Reasons for applying for a 15-minutes loan from a direct lender

Applying for a 15-minute loan from a direct lender is simple however it's important to remember that each lender has different requirements or preferences surrounding the type of borrower they look for.

The sheer number of direct loan lenders on the market makes it difficult to pick out the perfect lender to match your needs. With that much choice, how can be sure you're applying to a lender likely to consider approving your application?

Therefore, it might be better for you to apply for your loan through an FCA-authorised & regulated broker like Little Loans. Little Loans' service finds you a lender from our extensive panel most likely to approve your loan at a competitive and affordable rate (subject to approval)

Guaranteed loans – do they exist?

All lenders must run an affordability assessment on the borrower prior to the loan being issued or declined. Because of this, no loan can be guaranteed prior to a hard credit check being carried out.

If you are in debt and you are concerned about your ability to manage that debt, it may not be advisable for you to apply for loan. Instead, you may wish to get help from one of the six leading UK debt help organisations:

  • Citizens Advice
  • Money Advice Service
  • Debt Advice Foundation
  • National Debtline
  • PayPlan
  • Step Change

2,451 people find a loan with Little Loans each day. To start your application process, please click here.

Check out our 4.8 star rating on Feefo

See more feefo reviews

Straight forward

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

Laurissa Marsden

Representative Example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28. Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative. We’re a fully regulated and authorised credit broker and not a lender