Need Money Now? Little Loans could help

When faced with a sudden financial emergency that our savings won’t stretch to cover, many of us may have asked, ‘what can I do if I need money now?’.

We understand that life rarely runs as smoothly as we’d like it to. What happens if your car suddenly packs up on the way to work or your washing machine breaks down and you need money now to fund a replacement?

Little Loans is a credit broker, and we work with a panel of Financial Conduct Authority (FCA) authorised and regulated lenders to help customers search for a loan geared towards their individual financial needs.

If you need to borrow money urgently, Little Loans could help you search for a suitable option.

Why you might consider a loan when you need money now

Searching for a loan is a decision that should only be made after thorough research. The most important thing to consider is the cost of your monthly repayments, which you’ll need to make sure you can comfortably afford.

Providing that you’re able to make your monthly repayments, a quick loan could help when you need money to cover an unexpected expense. If you need money quickly, Little Loans could assist in your search for short-term credit.

Need money now? Five reasons to choose Little Loans to help you search for a loan

1. Our online form is straightforward and should take no longer than 5 minutes to complete.

2. Searching for a loan with Little Loans is completely free; we don’t charge any fees for our service.

3. In just 60 seconds, you can check your eligibility before you apply, with no impact to your credit score.*

4. Some of the lenders on our panel are able to send your money on the same day as your application is approved.**

5. Not sure that the loan we’ve found for you is a good fit? No stress. All quotes are no-obligation.

*If Little Loans is able to match you with a lender, you’ll be redirected to the lender’s website. If you choose to go ahead with a full application, the lender will carry out a creditworthiness assessment, which will consist of either a hard search or Open Banking. A hard search will remain on your credit file for up to 12 months and multiple hard searches within a short period of time will damage your credit score.

**Please note that the time it takes for the money to become available in your account will depend on your bank’s policies and procedures.

What type of loans can I search for with Little Loans?

The lenders on the Little Loans panel offer short-term, personal loans. If you need money now, it’s worth noting that some of the lenders on our panel could provide same-day loans, although this will depend on a number of factors, including the time of day you apply and your bank’s policies and procedures.

Please note that Little Loans do not currently work with any lenders of payday or guarantor loans.

I need money now; how much can I apply to borrow, and for how long?

With Little Loans, you can search for a short-term loan between £100 and £10,000, with repayment terms from 3 to 6 months, depending on how much money you apply to borrow. You should never apply to borrow more money than you need or can afford to repay.

When considering the repayment term, it’s important to choose one that’s right for your financial circumstances. A shorter term will result in less interest being charged, although your monthly repayments will be higher. A longer term allows you to spread the cost of the loan, but you will pay more interest.

Understanding additional fees

When our need for funds is urgent and we require money now, it can be easy to rush into making a decision that might not necessarily be right for our financial situation.

Something else you should think about before searching for a short-term loan is the possibility of additional fees. It’s important to be aware of these so that you’re not caught out by further unexpected expense in the future.

When searching for a loan, you will come across the term Annual Percentage Rate (APR). The APR reflects the annual cost of borrowing, and includes your tailored interest rate and any standard fees, if applicable. Additional fees are not included in the APR.

Additional fees could include:

• Late repayment fees

If you make a late repayment or miss one altogether, your lender may charge you a fee. You should also be aware that making a late repayment or missing one altogether will have a negative effect on your credit rating.

• Early repayment fees

If you’re in a position to do so, you may be able to repay your loan early and save on interest, although some lenders may charge a fee for this.

You can find out more about any applicable additional fees in your loan agreement.

Am I eligible to search for a loan if I need money now?

You can use Little Loans to help you search for 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 into your bank account.

I need money now; how can I apply for a loan?

You’re welcome to search for a loan with Little Loans if you meet the above eligibility criteria. We’ve included a breakdown of our process below.

1. To start a search with Little Loans, simply fill in our quick and easy online form using your mobile phone, tablet, or computer. Tell us how much money you need to borrow and have a think about which of the various loan terms best suits your circumstances.

2. We’ll use the information you’ve provided to look for a suitable loan and will run a soft search on your financial history.

3. If we’re able to match you with a lender, you’ll be redirected to their website. If you choose to go ahead with the loan, a creditworthiness assessment will be carried out. This will include either a hard search or Open Banking. A hard search will remain on your credit file for up to 12 months. Please be aware that multiple hard searches within a short space of time will have a negative impact on your credit score.

4. If the lender is happy with the result of their creditworthiness assessment, they will formally offer you the loan and let you know when your loan will be sent.

Important: you’ll be sent a credit agreement, which you should take the time to read through carefully before deciding whether the loan is right for you. Be sure to pay particular attention to the monthly repayment amount; this must be affordable for you. Repaying a loan should never leave you unable to cover the cost of your monthly essentials, such as mortgage or rent and groceries.

Can I get a loan with very poor credit?

Little Loans is proud to work with a number of UK-based lenders who specialise in loans for people with poor or bad credit.

In certain cases, you could be considered for a bad credit loan, although you should think very carefully before you apply. A bad credit loan could come with a higher rate of interest, and you might not be approved to borrow as much money as you need.

If you have very poor credit, you might find it helpful to talk with a money advice service, such as StepChange. You can read more about the help available at the bottom of this page.

Will a loan affect my credit score?

Yes, it will. Like any credit product, a loan will influence your credit score.

If you make your repayments on time every month and clear the balance of the loan within your selected term, your credit score could improve, although you’ll need to ensure that any other credit commitments are kept on top of and repaid on time as well.

If you miss or make a late repayment, your credit score will suffer.

Will improving my credit score increase my chances of being approved for a loan?

Those who have a good credit score could find that they have broader borrowing options and access to better rates of interest, although it’s important to understand that each loan application will be assessed on an individual basis.

Poor credit doesn’t need to be for life. Even if you have very bad credit, you can still take steps towards a healthier credit score.

• Register to vote.


• Check your credit report for any errors and make the credit reference agency (CRA) aware if you spot any outdated or incorrect information.


• Keep your direct lender credit applications to a minimum to avoid multiple hard searches on your credit file.


• If you have a credit card, stay well within your credit limit and keep your credit card utilisation as low as possible.


• You should avoid using your credit card to withdraw money from a cash machine.


• Perhaps do some research into credit builder credit cards?

What can I use my loan for?

Not everyone is in the position where they have the financial safety net of savings.

A short-term loan is usually taken out in the event of an unforeseen expense, with the money borrowed used to cover an emergency cost. This could include things like car repairs, an unplanned bill, or a broken home appliance.

Where can I find free financial advice?

You can access free, confidential money and debt advice through charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.