Frequently Asked Questions

For unsecured loans on this site (which 99% of loan applications are for), there is a minimum of £200 and a maximum of £10,000.

Please only apply for the amount that you need. Loans for higher amounts are often more difficult to qualify for and may also over burden the applicant with debt that they don't really need. 

Loans up to £1000 are normally required to be repaid in full within 12 months. Loans over £1,000 can be spread over a maximum 36 months.

Yes, absolutely. Once the money is in your account, it is entirely up to you what you use the money for. Us and the lenders make no stipulations on this front. If you are approved for a loan, the money is yours to do with as you so wish.

The reason we ask about the purpose of the loan is so that you can be offered the best rate. If you want the money to pay for a used car, it may be cheaper for you to be offered car finance.

But, at the end of the day that is your business. 

Rates change and will be subject to the status of the applicant. Some may receive cheaper offers, some may be more expensive. The representative example shown below is what is being offered over the last 30 days to 50.1% of applicants.

These are the figures that we are currently working on:

Representative Example: Amount of credit: £1500 for 11 months at £169.69 per month. Total repayment of £1866.59. Interest: £366.59 Interest rate: 46% pa (fixed). 112.5% RAPR. APR rates range from 45.3% APR to 1575% Max APR. Any APR rate offered will be related to your circumstances.

That's impossible for us to say until you have applied. New guidelines implemented by the Financial Conduct Authority mean that all lenders now need to perform affordability checks on individuals who apply.

Lenders also check to see if applicants have been involved in fraud, kept the same email address and phone numbers.Only after these have been performed will they applicant get a decision.

Don't worry though, it is all done online whilst you wait and will normally take less than 1 minute.

Luckily for applicants we are called Quick Loans. We know that people on this site who apply for credit are looking for faster payouts than are normally associated with mainstream banks. 

Money is often with the borrower in less than 30 minutes after the loan is approved.

Even if you receive an approval, you still have the right to change your mind. There is nothing that says you have to accept the approval. If you change your mind, you can opt out of the application, no questions asked. Just close your browser at any point before you click to accept the funds. 

If you have received your cash and wish to change your mind. Please contact your lender. Each lender has a different procedure for having the funds returned. 

There are differing reasons why you may have been declined for a loan. Everyone’s circumstances are different so it would be difficult for us to pinpoint the reasons why on individual cases. The majority of the time, though, it will be an eligibility issue. It may be that you are not the right age, or haven’t had a fixed address for long enough. Everyone’s circumstances change, though, so it may be that the next time you apply, you may be accepted.

Please be aware, however, that it is never wise to make multiple applications for a loan as this will show up on your credit file which could hinder your capability of receiving credit in the future.

The first thing you should do is contact us and your lender to see if there is help available. Unfortunate circumstances occur, and we appreciate this, which is why we will endeavour to help in any way we can. Please don’t suffer in silence and simply miss a payment. It is far better to be honest and receive any help that is available. All contact details can be found on the website.

We won't go bust, we can promise you that. They way our business is structured means that there is no chance that we will be going into administration any time soon. It is also important to remember that one of the reasons that Wonga went out of business was because they had issues with mis-selling loan products. We haven't been involved in mis-selling products in the past.

Unfortunately, you have been the victim of a scam. We do not and have not cold called anyone, it isn't what we do. There is however a group of people who call claiming to be "QuickLoans.co.uk" and claiming to have pre-approved people for loans - if an admin fee is paid. The first we know about it is when we receive a call from the victim asking for a refund.

This is a common scam and we believe they are based out in India, they do it claiming to be a lot of brands, not just ours. We have seen similar complaints against Wonga and even Barclays - it isn't them and it isn't us either. The best thing you can do is to report it to Action Fraud or the FCA's helpline on 0800 111 6768.

It's with regret that we have to inform you that it is highly unlikely you will ever receive a penny back from these people. It's been 6 years since we first heard of this and have never heard of anyone ever getting a refund.

We don't charge admin fees and never have as a site. We are aware of others out there cold calling people pretending to be Quick Loans but these are nothing to do with us or this site. We will never ask for payment, if anyone does contact you asking for any type of payment or fee in advance of receiving a loan then you should treat it as suspicious.

No we will not perform a credit check. The FCA require all lenders to perform anti money laundering checks (ID Checks) and affordability checks. 

Most people with bad credit will borrow less than £2000. The most they can borrow on Quick Loans is £5,000.