Short Term Loans

We work quickly at Fast Loan so that you won’t be left waiting for a decision. Your application should take no longer than 5 minutes to fill in, and once credit and affordability checks are complete, assuming there is no further information we need to confirm with you, you’ll be sent your digital loan agreement to sign once approved. We provide same day loans, so once signed, you should receive your funds within 15 minutes, ready to use.

To ensure your safety when applying online, it’s important to only use FCA-authorised short term loans direct lenders. This way, you’ll know that your application will be treated fairly, and you will not be charged unnecessary fees. As we are fully authorised by the FCA, we work to responsible lending guidelines that provide you with fair, transparent loans that are only agreed where this is affordable for you.

The main difference is that payday loans are typically repaid in full on your next payment date, usually within 30 days. As this can be inconvenient, especially when borrowing larger amounts, this is where a short term loan can provide more flexibility. We provide repayment terms up to 8 months for new customers and a maximum of 12 months for returning customers, providing more manageable repayments. We also provide options to pay weekly, fortnightly and monthly, whichever is best for you.

Yes, it is possible to apply for a short term loan with us with bad credit, but only if this fits your affordability and doesn’t cause further difficulties. Whether you have good or bad credit, we always perform credit and affordability checks to ensure the loan you need is the best option. You’ll need to ensure that this is the right choice for you before applying and that the repayments will be manageable throughout. Please note that we are unable to help if you are currently bankrupt.

If you are a first-time customer, the maximum you can choose is a loan of £800. This increases to £2,000 for returning customers, subject to your first loan being repaid in full and passing credit and affordability checks. You should only apply for the amount you need rather than the maximum available so that the short term loan remains manageable.

Yes, if you can afford to repay your loan in full at any time during the repayment period, please contact your Customer Care Manager. They will be able to give you a settlement figure for this. Paying early can be a good option, as we only charge interest for the days you have borrowed. We charge a £20 early settlement fee, subject to this not taking you over the 0.8% daily interest charge.

Yes, we can help those who are self-employed. You will need to be able to prove your current income and meet our full eligibility requirements above. During the application, your Customer Care Manager will contact you to confirm your information and advise you of anything else we may need to support your short term loan application.

Once approved, we will set up a Continuous Payment Authority (CPA) on your bank account, which will automatically take repayments on the due date in your loan agreement. This means all you need to do is ensure available funds are in your bank account at least the day before payment is due.