Online Loans

You’re allowed to apply for any online loan if you have a poor credit score, but it’s a good idea to think first. Lots of lenders will be less likely to approve you if you have a bad credit score, and it’s much better to apply to a lender who will accept your application.

At Cashfloat, we accept people with bad credit scores. You always stand a good chance of being approved for a payday loan with us. We carry out credit checks on all our applicants, but we don’t judge people on their credit score alone. We also look closely at every applicant’s level of affordability. If we trust that you can afford to make the monthly repayments on a loan, we’ll be happy to offer you one.

Cashfloat does not recommend that anyone applies to a company that offers loans with no credit check. All Financial Conduct Authority (FCA) approved credit providers are required to carry out a credit worthiness assessment before giving someone a loan. Lenders that don’t aren’t following the FCA’s guidance and are acting irresponsibly. They could be loan sharks, and you could find yourself in a bad situation if you apply to one of these lenders.

There are two types of lender you can apply to. These are direct lenders, who handle your loan and send you the money directly or credit brokers, who work to find you a third party lender. It’s best to cut out the middleman if you can and go straight to a direct lender. Dealing with a direct lender makes the process simpler, quicker and cheaper.

Cashfloat is a trusted direct moneylender, and when you apply to Cashfloat, you apply for a direct loan. However, if we can’t lend to you directly, we can act as a credit broker instead. In this case, we’ll try to find another lender who can give you a loan. Of course, we will only do this with your permission, meaning that your personal information is always safe.

Existing customers can apply to take out a loan through the personal login area. Click here if you are an existing customer and you want to apply again. If you have an existing loan, you can also login to make your monthly payments.

For a fast and easy borrowing experience, you should try and avoid using a guarantor. With a guarantor loan, you have to find a guarantor who will co-sign as backup in case you can’t make repayments. This can be difficult and will take time. Guarantor loans also require extra paperwork to be completed by the guarantor, which takes up even more time. When you apply with us, we will never ask for a guarantor.

Although guarantor loans take a long time to receive, they can be cheaper and come with other advantageous conditions because they’re less risky for the lender. For most short term financial emergencies, people want the money quickly, but sometimes guarantor loans can be an option.

Cashfloat offer unsecured personal loans for amounts from £1,000 up to £2,500. These are different to our payday loans. Go here to read more about our small personal loans product. A small personal loan doesn’t just have to be used for emergencies and can be used for things like home improvements, to buy a new car or to help pay for a wedding.

Apply here for a personal loan from Cashfloat.

Fraud is very common in the online payday lending market, and you need to be careful when you visit a loans website. If your information gets into the wrong hands, you could lose your money in a matter of minutes. Vigilance is key, and our security centre provides you with more information on how to ensure you’re borrowing from a legitimate and FCA licensed moneylender.

Taking basic safety precautions when using lender websites will help keep you safe. Doing basic checks, such as looking for the padlock in the URL bar, can make a big difference.

Any lender in the UK that isn’t registered with the Financial Conduct Authority is operating illegally. They also won’t be following the regulations that exist to protect your financial safety. If you’re having a hard time finding someone to lend to you and are considering using anyone that might be a loan shark, don’t even think about it!

Although it can be easy to get a loan from a loan shark, these loans are very dangerous. Loan sharks are known for charging huge fees and for their brutal collection tactics. You should only ever go to an FCA authorised lender like Cashfloat. We have affordable rates and responsible policies, and we make it our business to treat you fairly.

Go to our ‘APR (Annual Percentage Rate) explained‘ guide to understand more about fair loan charges.