Same Day Loans

When a sudden, unexpected expense disrupts your finances, you might think about searching for a loan.
If you’re looking for a same day loan, Cashflex could help you search for a suitable option. Any credit score considered.

What is a same day loan?

As the name suggests, a same day loan is a sum of money borrowed from a lender, which is sent to your bank account on the same day as your application is approved.

It’s important to be aware that a same day loan cannot be guaranteed. Every lender will have their own payout timeframe and the time it takes for the money to become available in your bank account will depend on your bank’s policies and procedures.

If your need for funds is urgent, you may wish to speak with your lender before you make a full application to get an idea of when exactly your money could be sent, if approved.

Can I get a same day loan with Cashflex?

Cashflex is a credit broker. We work with a large panel of responsible lenders who offer short-term loans from £100 to £10,000. Depending on the amount of money you apply to borrow, you could repay your loan across a term of between 3 and 60 months.

Some of the lenders on our panel could send your money on the same day as your application is approved.

Who can apply for a same day loan?

You can use Cashflex to search for a same day loan if you:

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

Could I get a same day loan if I have bad credit?

Several of the lenders we work with specialise in loans for people with bad credit, and if you successfully pass the affordability checks and are approved for a loan, your money could be sent quickly.

A bad credit loan could come with a higher interest rate, and it might not always be possible for you to borrow the full amount of money that you need. You should take these factors into consideration before you make an application.

Being certain that you’ll be able to make your monthly repayments is the most important thing when searching for or applying for a loan. A late or missed repayment will harm your credit score.

Is there any way to hurry a loan application?

The loan application process takes time. The checks that are carried out are in place to protect you and can’t be rushed.
There are things you can do to help make sure that the application process is as smooth as possible, such as having all personal information, including your address history and bank details, to hand.

Of course, every lender has their own criteria, but if you’d like to get ahead and prepare for your application, you may wish to collect the following documents:

• Proof of identity, such as your driving licence.
• Proof of address.
• Proof of income.
• Recent bank statements.

Before you search for a same day loan

If you’re researching same day loans, there’s a chance that you might need money now. Finding ourselves in a position where we need funds in a hurry could lead to us making a rushed decision.
A loan is a serious financial commitment. Before you begin your search, you should take a step back and have a think about whether this is the right option for you at this stage.

• A loan will be repaid in monthly instalments, which will include interest. Can you afford to make these repayments? Consider how you’d keep on top of them if your financial situation were to change. Repaying a loan should never leave you short when covering the cost of your essential outgoings, such as your bills and mortgage or rent.


• Like all credit products, a loan will affect your credit score. If you make your repayments on time each month and clear the balance of the loan before the term comes to an end, your credit score could increase, although this will depend on how you’ve managed your bills and any other credit commitments.
  Making a late repayment, or missing one altogether, will have a negative effect on your credit score. This could impact your chances of approval if you needed to apply for credit again in the future.


• When you apply for a loan, the lender will carry out an affordability check, which will include either Open Banking or 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 damage your credit score.

Applying for a loan can feel like a guessing game. Using a credit broker, like Cashflex, could help to take the guesswork out of applying. We’ll scan our panel of lenders for a suitable loan for you using soft search technology, with no impact to your credit score.*

What happens if I can’t afford to repay my same day loan?

If you’ve been approved for a same day loan but have fallen into difficulty making your repayments, you should reach out to your lender.
Money can sometimes feel like a difficult topic to talk about, but please know that asking for support could reduce some of the stress you’re facing. Your lender will not judge you or your situation but will instead listen to your concerns with empathy and suggest any options that may be available to help you.

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

We understand how consuming money worries can be, but you don’t need to suffer in silence. Free, confidential and impartial advice is available through a range of charities and organisations, including StepChange, MoneyHelper, Citizens Advice, and National Debtline.

*If you’re matched with a loan and choose to make a full application directly with the lender, they will carry out an affordability check. This could include a hard search or Open Banking. A hard search will remain on your credit file for up to 12 months and multiple hard searches could cause your credit score to decline.

Open Banking is a safe and secure type of affordability check, used by authorised and regulated third parties, such as lenders. Open Banking provides a recent, read-only insight into your financial activity. Only you can choose who can view your information and you can withdraw your consent at any time.