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

Whether it’s a broken-down car or a home appliance that you can’t do without, financial emergencies have a habit of happening at the worst times. In the event of an unplanned expense, you might think about searching for a loan.

As such, you may have some questions, like:

  • Is it possible to get a guaranteed loan?
  • Where can you apply for a guaranteed payday loan?
  • Can you get a guaranteed loan with bad credit?

Our guide shares some key information.

Where can I get a guaranteed payday loan?

It’s important to be aware that it’s not possible to get a guaranteed payday loan. In fact, it isn’t possible to get any type of guaranteed loan, whether that’s a short-term, guarantor, or personal loan.

Those applying for any type of loan must undergo a creditworthiness assessment. This will give the lender an idea of how well you’ve managed credit in the past and how likely you are to be able to pay back the money you’re applying to borrow.

This may seem daunting, especially if you lack confidence in your credit score, but they’re in place to help protect you. The lender will want to be confident that you’re going to be able to keep up with your repayments – falling behind on or missing your repayments could result in additional fees and charges. In addition to this, your credit score could also be damaged.

Could I get a payday loan without a credit check?

No. In line with regulations set out by the Financial Conduct Authority (FCA), all responsible lenders must carry out a creditworthiness assessment before deciding whether to lend you money.

What are my chances of getting a payday loan with bad credit?

It’s understandable that having a poor credit score could leave you feeling apprehensive about applying for a loan.

Getting approved for a loan when you have a low credit score can be difficult, although some UK-based lenders specialise in loans for bad credit.

Before you decide to apply, you should be aware that bad credit loans are likely to come with higher interest rates. In addition to this, a low credit score could limit your borrowing options; for example, you may not have as many lenders to choose from as someone with a good credit score, and you might not be approved to borrow as much money as you need.

How to increase your chances of being approved for a loan

Generally, the better your credit score, the better your chance of being approved could be, although lenders will take various factors into consideration, including your eligibility for their particular product.

Having poor credit can feel disheartening and you may worry that your score could prevent you from getting credit when you need it the most. The good news is that there are many things you can do to pick your score back up and work towards a healthier credit position.

5 ways to improve your credit score

  1. Register to vote.
  2. Get into the habit of regularly checking your credit report for errors and be sure to report any inaccuracies to your credit reference agency (CRA).
  3. Pay your bills and any current credit commitments on time.
  4. If you have a credit card, avoid using it to withdraw money from a cash machine.
  5. Try to keep your credit applications to a minimum. Multiple hard searches in a short space of time could negatively affect your credit score.

Do Cashflex offer guaranteed payday loans?

As previously explained, guaranteed loans – payday or otherwise – do not exist.

Cashflex is a credit broker, not a lender. We work with a panel of trusted lenders who offer loans between £100 and £10,000. While none of the lenders on our panel provide payday loans, they do offer short-term loans with a range of repayment options. Depending on how much you apply to borrow, you could repay your loan across terms of 3 to 60 months.

Any credit score considered, and our FastCheck tool makes it possible to understand your chances of approval before you make a full application, with no impact to your credit score.*

Try our FastCheck tool with no impact to your credit score

Our tool allows you to calculate your chance of being accepted for a loan.


*If Cashflex is able to match you with a short-term loan and you choose to make a full application directly with the lender, you’ll be required to undergo a hard search or Open Banking with that company. 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 damage your credit score.

What’s the difference between a payday loan and a short-term loan?

Payday loans are usually required to be repaid in full within a four-week/one month period, while short-term loans allow borrowers to spread the cost of a loan over a longer term.

You should think carefully before deciding on a repayment term to suit you. A longer term could make borrowing more affordable, although you’ll pay more in interest.

Shorter terms allow less time to spread the cost but will result in less interest being charged.

Can I search for a loan with Cashflex?

You’re welcome to use Cashflex to search for a short-term loan if you:

  • Are over the age of 18;
  • Are a UK resident;
  • Have a UK bank account and valid debit card; and
  • Have a regular source of income paid into your bank account.

I’m struggling to repay my loan; what can I do?

If you’ve taken out a loan that you’re having difficulty repaying, you should contact your lender. They will appreciate the fact that you’ve got in touch and will be keen to discuss any options that may be available to help reduce some of the pressure.

Remember, money worries can happen to any of us, at any time; you have nothing to feel ashamed of.

Free, confidential money and debt management advice

Whatever you’re facing, please remember that you can access impartial money and debt advice through charities and organisations such as StepChange, MoneyHelper, Citizens Advice, and National Debtline.


Try our FastCheck tool with no impact to your credit score

Our tool allows you to calculate your chance of being accepted for a loan.

You are age 18 and a UK resident

You have a regular income from employment

You have a valid UK bank account with an active debt card

What will I need to get a short term loan?
Can I get a short term loan?

Over 18

You'll need proof that you are over 18.

Bank Account

Hold a valid UK bank account.

Income

Have evidence of a regular income and UK residency.

Why choose us

Sometimes, the unexpected happens that means you need money fast. Here at Cashflex we offer a user friendly process to help you find same day loans in a responsible and affordable way.

How much can I borrow?

The exact amount you can borrow depends on your personal circumstances and can differ by lender. You can apply for a loan between £100 and £10,000

What are the repayment terms?

This is dependent on the amount that you wish to borrow. The repayment terms can be: 3 months, 6 months and 12 months to name a few, ranging right up to 36 months.

Can I apply for a loan with bad credit?

Yes. If you are unsure you can use our FastCheck tool to find out your loan eligibility.

Can I repay in instalments?

Yes.

Worried about money?


If you're worried about the cost of living, need support with budgeting, or think you might need debt advice, StepChange could help. They offer free and impartial support and help hundreds of thousands of people every year to deal with their debts and take control of their finances.

To find out how StepChange could help you, take the free Money Health Check. It's quick and easy to complete, and will give you a personalised recommendation on what to do next.

Get help

Check out what our trusted customers had to say.

See more feefo reviews »

Representative example: Amount of credit: £1000 for 12 months at £117.59 per month. Total amount repayable of £1,411.12 Interest: £411.12. Interest rate: 68.9% pa (fixed). 68.9% APR Representative.

We’re a fully regulated and authorised credit broker and not a lender.