Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk
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What is a Quick Loan?

The Money Advice Service have found that 40% of adults will not have £500 or more in savings in an emergency to cover an unexpected expense.(You need to source this information here) Quick loans can help to cover these unforeseen expenses, and you should receive the money the same day you applied. People often associate fast loans with payday loans, but there are other types of short term loan that enable you to get cash quickly.

With My Payday Loan Broker, if you need a loan, we'll try to find you a same day loan through the right online lender.

Why Might You Need a Quick Loan?

If you need cash fast, it's probably because you've had an emergency expense. This could be anything from your car breaking down to your roof leaking. In this sort of situation, you can't afford to wait until payday to cover the costs. You most likely need your car to get to work, and you'll certainly notice a hole in your roof the next time it rains.

If you don't have the funds saved, there are options available. Depending on your credit score, you may be eligible for a bank loan or a credit card. You may end up paying more with these in the long run though, as you could be charged for making early repayments for instance. With a short term loan, you won't be charged for paying early, and this could help improve your credit score.

Finding a loan through My Payday Loan Broker can also be more flexible - you can choose the amount you need and the length of time you need it. We won't try to tempt you to borrow more than necessary, so you won't have to pay back more in interest.

Am I Eligible?

To get a quick loan with the help of My Payday Loan Broker, you will need to be at least 18, a UK resident and in part time or full time employment. You'll also need a UK based bank account and debit card.

If you think you have a poor credit history, you can check your score for free via Noddle. One way to help strengthen this score is to take out credit and pay it back early or on time.

With My Payday Loan Broker, you could be able to borrow up to £2000, even if you have bad credit. Every application is looked at on an individual basis, and credit files are not the only thing assessed. You don't need to have perfect credit to take out a short term loan.

Before you take out a short term loan or a payday loan, you do need to consider whether it's the best option for you. A quick loan is not always the best solution: if you are able to save or if you are taking out credit to pay credit, a short-term loan may be a bad idea.

Should you be searching for loans for the unemployed, or loans for people on benefits, quick loans may not be the best option. If you're in long term financial difficulty, you probably can't guarantee that you'll be able to make the repayments, and could end up owing more in the long run. If you think you need help, you can contact companies like Step Change or your local Citizens Advice Bureau for free impartial financial advice.

How Much Can I Borrow?

This will depend on how much you can afford to pay back each month or on your payday. Our pool of lenders make sure that they are lending responsibly, and that by borrowing, you are not putting yourself into financial difficulty.

A quick loan can be from £100 to £2000, and you can borrow the funds for up to 2 years. The direct lender will let you know the amount you'll be repaying and the dates agreed, before you sign the loan agreement.

With most lenders, you'll be able to choose to make your repayments weekly, fortnightly, four-weekly or monthly, depending on your pay-dates.

How Long Does it Take?

Our application is completely online, so there is no time consuming paperwork. The application for a loan is short and simple. Once you're matched with a lender, you'll need to complete their application, and may need to send across a document like your payslip. You should get your loan the same day, to cover that emergency expense.

How Can We Help With Quick Loans?

My Payday Loan Broker helps you find the perfect lender. We work with over 20 direct lenders, and we'll try to match you with the best option for you. As our application is online, you can apply at any time.

We'll ask you for a few personal details, your employment information and your income and expenditure. We'll get back to you as soon as possible within our opening hours - you can find these here. If we match you with a lender and they approve your application, you could have the funds you need the same day.

If you have any questions about the application process, or need some help, you can contact us by phone or email. Our contact information can all be found here.

What's the Difference Between a Broker and a Direct Lender?

Brokers such as My Payday Loan Broker offer a matching service to help you find the right lender, working with a group of lenders to assist you in getting a loan. A direct lender is the company that will transfer you the funds you need. If you're not approved by a direct lender you may need to spend time searching for an alternative, but we are here to search for you.

People often wonder if quick loans are safe: you can rest assured that all the lenders we work with are regulated by the Financial Conduct Authority (FCA), and are UK based. That means that you'll always be informed of your repayments and the dates, as well as the total amount due, all before you apply. Interest is capped, and you'll never have to pay back more than twice what you borrow.

For peace of mind, you can check if a company is on the FCA register for free here.