Quick Loans.

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Fast affordable online loans for bad credit scores.

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Representative 79% APR

Representative example: Amount of credit: £1200 for 18 months at £115.73 per month. Total amount repayable of £2083.18 Interest: £883.18. Interest rate: 79% pa (fixed). Representative 79% APR. Rates between 9.3% APR to Maximum 1721% APR

The Money Shop is a registered trading name of New Horizons Finance Limited, which is an Appointed Representative of Flux Funding Limited, who are a credit broker not a lender. Loan repayment terms are between 3 and 36 months.

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

What is a quick loan?

A quick loan, or speedy loan, is a loan paid to your bank account quicker than a standard loan. If you’re in a situation that requires a fast payout, a fast loan could be your best option. Not only could you receive money on the same day, but we also provide instant decisions so that you’ll never have to wait around.

Quick loans are ideal for people who have unexpected bills to pay or who cannot wait around for a regular loan. Just as with other loans, you will need to provide some details about your income, and a soft credit check will be required. The only difference is, the money will be available for you far quicker than a standard loan.

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What is a quick loan?

As the name implies, a quick loan is a loan that is paid quickly to you when you need it most. Sometimes, a loan application can take several days; however, at The Money Shop, we provide customers with decisions in just a matter of minutes. This means that you could be paid cash on the same day if you face an emergency financial situation.

What is the eligibility criteria for a quick loan?

Eligibility for a quick or fast loan is based on several different factors. You will need to provide details of your income to prove you can afford the loan and how you would make the loan repayments when required. If you are employed and receive a regular, monthly income, you will have a higher chance of being approved for any loan.

As well as employment circumstances, to be approved for a quick loan, you must also agree to undergo a credit check. A credit check looks at your credit history and how you have acted in the past when borrowing money. Lenders will do a soft credit check initially. If the credit check demonstrates that you can borrow money and make repayments on time, this is good news!

The only true way you can determine whether you are eligible for any loan is to apply. However, we don’t advise applying for a loan if you have a poor credit history, as you will likely be rejected. When you apply for a fast loan with us, you will find out straight away whether you have been approved.

Before you apply for a fast loan, it is a good idea to assess your eligibility. If you apply for a loan and are rejected, you could see a negative impact on your credit score. This can even affect your ability to take out a loan in the future, as other lenders will see that you attempted to borrow money and were rejected.

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Your questions, answered

How do I get a quick loan?

To get a quick loan, you will need to apply for one with a loan provider. At The Money Shop, we provide access to such loans to eligible customers. All you need to do is go through the application process and provide the details that are requested.

Once you have provided your information, you’ll need to wait to be approved for the quick loan. Most loan providers (including The Money Shop) recognise that people need the money as soon as possible, so they will decide on the same day.

What do I need to know about quick loans?

If you have never applied for a fast loan before, you’re likely wondering what to expect. The good news is, it’s all pretty simple stuff. Here is the key information to take away with you about fast loans before you apply for one yourself:

  • A quick or fast loan is a short-term personal loan put in place for convenience and speed
  • Fast loans are usually in place for financial emergencies such as unexpected bills
  • If you are approved for a fast loan, the funds will usually reach you on the same day
  • Sometimes, payments are made in less than 15 minutes#
  • Generally, you can borrow anything between £50 and £5,000
  • Fees and interest rates may vary, depending on the amount you need to borrow and your circumstance

When could a quick loan be useful?

Fast loans can be extremely handy and can really help when there seems to be no other option. If you’re considering a fast loan, but you’re not sure in what type of circumstances this loan type would be suitable, here are some examples:

  • If your vehicle breaks down and you have an unexpected bill to pay
  • For urgent home repairs, including things such as floods or electricity issues
  • Needing to pay a large bill that your salary cannot cover
  • Contributing to the care costs for children or a loved one in general

Are there times when I shouldn't take out a quick loan?

There are certain situations in which you should probably avoid taking out a quick loan. For example:

  • Repaying cheaper types of credit, you’ve already taken out
  • To make payments to a bailiff
  • For leisure and entertainment reasons such as holidays
  • For the payment of regular, everyday bills
  • For luxury purchases

What are the benefits of taking out a quick loan rather than a regular loan?

Many benefits come with applying for a fast loan instead of a traditional loan that may help you realise whether this loan type is for you:

  • Fast loans require no paperwork at all
  • The application process is quick and easy to complete
  • You’ll receive instant decisions
  • Some lenders accept individuals with bad credit
  • You can receive the money on the same day for emergencies

How can a loan from The Money Shop Loans help?

If you’re looking for a simple example of a fast loan, we have you covered. The Money Shop offers customers access to quick loans so long as they meet our eligibility criteria. Whether you need to borrow money to fix a boiler issue or any other emergency, we are here to assist where we can. The Money Shop is authorised and regulated by the Financial Conduct Authority (FCA), so you can rest assured that you’re in good hands. 

We, and our lenders, provide the entire application process electronically to speed up each step and avoid the need for paperwork. If you are looking for a quick and convenient way to borrow cash when you need it most, consider applying for a loan with The Money Shop today.

How can I apply for a quick loan?

When you apply for a fast loan with The Money Shop, there are several steps in our application process. We make each step as simple as possible because we understand just how important it is to receive money quickly when you’re in need.

You’ll need to visit our website to begin your online fast loan application. This step of the process will take, on average, 5 minutes, and we ask for some basic information to get started. Once you have submitted your information to us, We share your application with our panel of lenders. Next, they carry out a final check, including a credit check to confirm your eligibility, and if accepted, they pay the funds into your account!

If your quick loan has been approved, the lender will ask you to confirm a few details before paying the loan. You’ll then be presented with a loan agreement which you must read and sign, which you can usually do online. Our lenders always make it clear from the get-go about how much interest you will be charged and any fees where applicable.

Need any alternative lending options?

If a quick loan is not the best lending option for you, there are plenty of other alternatives if you still need to take out a loan or borrow money.

Bank overdrafts

If you don’t already have an overdraft with your bank, it could be a good idea to consider one. Bank overdrafts come in many shapes and forms and with different options. Usually, your bank will decide your overdraft limit based on your previous banking history with them. Essentially, when your balance falls to 0, you will have an extra cash limit to spend so long as you repay the money. As with loans, bank overdrafts come with interest charges and fees in some cases, so it’s always wise to discuss your overdraft with the bank before agreeing to it.

Credit cards

A credit card is a good lending option if you find that your salary is regularly over-exhausted. Of course, we only advise taking out a credit card if you have to. Most of the time, people take out credit cards and spend the money on leisure or luxury purchases which can cause further debt down the line. Again, credit cards come with accompanying interest rates and terms which you must agree to. They can be a great solution if you’re also looking to build up your credit score too. There are different options available and, likewise, various credit limits you could potentially choose from.

A loan from a friend or family member

If you cannot get approved for a regular loan due to poorer credit history, for example, you could always approach a trusted family member or friend. Like with a general loan, we advise that you establish a clear repayment plan and make it clear that you will pay the money back as agreed. It’s also a good idea to consider the implications of not paying back a loan to the person. Most of the time, people want to avoid borrowing from someone they know as it can strain the relationship.

Payday loans

A payday loan is designed for financial situations where you are struggling, like a fast or quick loan. Often with very large interest rates, payday loans are loans that you borrow until your next payment date. You will need to provide information to prove that you can make the repayment in the form of salary details. We do not advise using payday loans regularly, as due to the higher interest rates, they can cause further debt. However, when you make a payday loan repayment on time, they are a safe option if you are in an emergency financial situation.

What do I need to think about before taking out a loan?

It is extremely important to pay attention to the terms and conditions set out in your loan agreement. Many people overlook this information as they see it as a chore to read. However, they couldn’t be more wrong! Terms and conditions will detail things such as the repercussions of missed payments, any additional fees, and of course – interest rates.

Before agreeing to a loan, you should always read the terms and conditions provided to get a clear idea of what to expect. It is all well and good to apply for a quick loan, but it is important to know where you stand when you borrow money. If you fail to upkeep your part of the agreement, it could impact your credit score and ability to borrow in the future.

How much money do you need to borrow?

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100% secure online application process

Money can be sent today

Check eligibility with a Soft Search

Thousands of loans found every month