£300 Loan - Borrow 300 Pounds With CashFlex

Are you looking for a £300 loan?
Whether you need a £300 loan to cover emergency car repairs or fund a replacement for a broken household appliance, Cashflex could help you search.

Is Cashflex a lender?

Cashflex is a credit broker, not a lender.
We, and all the lenders we work with, are authorised and regulated by the Financial Conduct Authority (FCA).

How does a credit broker work?

Applying for credit can feel overwhelming. It can be difficult to know where to start and trawling through various lenders can be a daunting task, particularly if a previous application has been turned down or you’re worried about bad credit. In addition to this, undergoing multiple hard searches with different lenders within a short period of time could harm your credit score.

This is where Cashflex, a credit broking service, could step in and take over the search for you. We use the information provided on your online form to scan our panel of over 30 lenders to search for the most suitable option for you. Rest assured, people with any credit score are welcome to check their eligibility.

Can I search for a £300 loan with Cashflex?

You can use Cashflex to search for a £300 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 income paid into your bank account.

Could I get a £300 loan if I have bad credit?

It might be possible to search for a £300 loan, even if your credit score is looking worse for wear. Poor credit might mean that your borrowing options are more limited, but it may not necessarily exclude you from accessing credit.

Cashflex are proud to work with several lenders who are willing to consider applications from people with a wide range of credit scores, from poor to excellent.

You should bear in mind that a bad credit loan is likely to come with a higher interest rate. Before you apply for a loan with bad credit, you’ll need to make sure that you’re able to afford the monthly repayments, which will include interest.

£300 loans for people with no credit history

Having no credit history is often referred to as having a ‘thin’ credit file and is common in people who have never paid bills or borrowed money before.
As lenders have no record of how well you’ve managed credit in the past, they are likely to see those with thin files as riskier, which may affect your chance of approval.

A number of the lenders on the Cashflex panel specialise in loans for people with a thin credit history.

Check your eligibility for a £300 loan before you apply

If you’re worried about your credit score, you’re welcome to use our free FastCheck tool to give you an idea of how likely you are to be approved before you make a full application.

Please note that using FastCheck will not have any impact on your credit score, although if you’re matched with a lender and choose to make a full application, they will carry out a hard search. A hard search will remain on your credit file for up to 12 months, and multiple hard searches within a short period of time could cause a decline to your credit score.

How long can I borrow a £300 loan for?

When you search for a £300 loan with Cashflex, you can opt for a repayment term of either 3, 6, or 12 months. Have a think about which repayment option suits your personal circumstances. The shorter the repayment term, the less time you’ll have to repay the loan, but you’ll also pay less in interest.
On the other hand, longer repayment terms will accrue more interest but will allow you to spread the cost of borrowing further.

I need £300 now – when will the money be sent?

Before you apply for a loan, you should take the time to weigh up and carefully consider your options.

If you’re confident that a loan could be a suitable choice for you at this time, your money could be sent the same day as your application is approved. Payout timeframes will vary between lenders, and the time it takes for the money to appear in your bank account will depend on your bank’s policies and procedures.

Could I borrow more than £300?

With Cashflex, you can search for a loan between £100 and £10,000, although it’s important to never borrow more money than you need or can afford to repay.

Will improving my credit score increase my chance of getting approved for a £300 loan?

Generally, the better your credit score, the better your chance of approval, although the lender’s final decision will be based on several factors, including an affordability check.

Fortunately, there are a number of ways to work towards a healthier credit position.

• Pay your bills on time.
• Make sure there are no errors on your credit file. If you spot any incorrect or outdated information, report it to your credit reference agency (CRA) as soon as you can.
• Try to limit the number of credit applications you make. Multiple hard searches in a short period of time could damage your credit score.
• Register to vote. Being on the electoral roll will allow potential lenders to verify your information, including your current address.
• If you have a thin credit file, you might choose to do some research into credit builder credit cards. When used responsibly alongside other credit building methods, over time, these credit cards could help to establish your credit score.
• If you already have a credit card, avoid using it to withdraw money from a cash machine. This is called a ‘cash advance,’ and could be seen as poor money management by your credit card provider.

I can’t afford the repayments on my £300 loan; what should I do?

We understand that this situation can feel frightening, but it’s important not to ignore the problem in the hope that it will go away. You should reach out to your lender or credit card provider as soon as you feel you can.
They will be able to talk you through any options that may be available to you and will work with you to put a plan in place moving forwards.

I’m worried about money; what can I do?

Please know that free, confidential advice on both money and debt management is readily available through charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.