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

Short Term Loans

Apply for up to £5,000 over a period of 1 to 60 months.

Representative Example: If you borrow £500 over 6 months at a rate of 25.5% per annum (variable) with a representative 46.19% APR you will make 6 monthly payments of £92.96, repaying £557.76 in total.

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

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Understanding Short Term Loans

What is a short-term loan?

A short-term loan is a form of personal credit in which the amount borrowed and the interest accrued are paid back in less than a year. For example, if you took out a loan and chose to repay it over a period of six months, it would be considered a short-term loan.

An unsecured short-term loan means that if you fail to repay the loan, you are not at risk of losing personal property.

How does a short-term loan work?

A short-term loan works like most loans. You choose how much you want to borrow and look to repay the loan and interest via monthly instalments. The main difference is that the repayment period lasts less than a year. As a short-term loan needs to be repaid quickly, it may come with a higher interest rate in comparison to longer-term loans.

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

A short-term loan is traditionally repaid over a few months, whereas a payday loan is taken out to cover a borrower until their next payday (typically a month). Furthermore, with a payday loan, you are also usually limited to a small loan amount as it has such a short repayment period.

The combination of a small loan amount and an even shorter repayment period means that payday loans can also come with a higher interest rate. With a short-term loan, you can repay the loan over a number of monthly repayments, which means it spreads the cost of the loan.

Therefore, if a person is looking for a short-term loan, but needs more than a month to pay the loan and interest off, then a short-term loan may be better suited for that person.

What can short-term loans be used for?

A short-term loan is very flexible and can be used for many different scenarios. Below we have provided a few reasons why people apply for a short-term loan. The reasons include:

Unexpected Expenses

Unexpected expenses such as car repairs or home repairs are incredibly frustrating at the best of times, let alone if you’re short on cash. Short-term loans can be used to help pay-off unexpected expenses and to spread the repayments over a few months, rather than paying the expense in one lump sum.


Bills can fluctuate, especially if one month you have been charged more than you had budgeted for. Running the risk of being unable to pay a bill can be incredibly stressful for many people, as it can lead to more money problems down the line. A short-term loan can be used to help cover the cost of bills and can help you avoid going over budget for that month.


If you’re in need of a break and need some extra money to help afford your holiday, then a short-term loan can help. The extra money received from a short-term loan can help you afford the holiday you really want or can be used to pay for expensive flights and baggage costs.

A short-term loan should not be used to help with long-standing or large amounts of debt. A short-term loan is specifically designed to help with short-term payments. If you are struggling with debt, please talk to Citizens Advice’s or the Money Advice Service for advice on how to cope and deal with debt.

Applying for a short-term loan
How can I apply for a short-term loan?

Applying for short term loans online is really quick and simple with Flexy Finance. The secure application process is completely online and can be completed using your phone or computer. We’ve put together a general guide to help you better understand the application process when applying for a short-term loan

Am I eligible for a short-term loan?

Before you apply for a loan, you must first check whether or not you are eligible. The eligibility criteria that you need to meet include:

  • 18 years of age or older.
  • A UK resident.
  • Proof of regular income.
  • A valid UK bank account.

If you are able to meet the above criteria, then you have met the minimum criteria to be eligible for a loan. The next step is to apply for your loan using the online application form.

How to apply for a short-term loan

Step One – Fill out the application form.

The first step when applying for a loan is to complete the application form. The application form is what is used to determine whether or not your application qualifies you for the loan you want. The application form will require you to provide some personal information in order for your application to be assessed.

The information you will be asked to provide may include:

  • Loan amount and repayment: If you’re applying for a short-term loan, you will likely be looking for a repayment period below 12 months. Flexy Finance works with lenders that are able to offer loan applications from £100 – £5000 with a tailored repayment plan of 1 – 60 months.
  • Personal and contact details: Basic personal information and your main phone number and email address.
  • Home address and details: These details include where you live as well as how long you have lived at that address.
  • Employment and income info: Details on your current employment status and history, as well as your monthly take-home pay. This will give us an indication of whether you can make monthly repayments.
  • Monthly Expenses: Your monthly expenses can include outgoings such as bills, food shopping, and rent.
  • UK bank details: Bank deals are required so that money can be deposited into your account if you are successful for a loan.

All of the details in the form need to be completed so that you get a fair assessment. If you leave any of the questions blank, there is a change that your application may be rejected. So make sure to check that you have answered all the questions correctly.

Step Two – Accepted for a loan.

Once you have submitted your application, it will then be assessed. As a credit broker, we will pair your application with a lender who is most suited to providing you with your desired loan.

When your application is matched with a lender, they will complete their own independent review and offer you a loan.

Once you have been offered a loan, it is important to check the terms and conditions of the loan agreement. It is also a good idea to research the lender who is offering you the loan. If you have any questions about the loan that has been offered, make sure to ask the lender for more information.

Key information to look for when reading the terms and conditions is:

  • The loan amount being offered
  • The repayment term
  • The interest and APR attached to the loan.
  • If there are any additional fees (i.e. early repayment charges).

If you do not like the terms and conditions of the loan you can opt-out of it, but you can only do this if you haven’t accepted the loan.

If you accept the loan offer provided by the lender, you will be bound to the terms and conditions of the loan.

Step Three – Receiving your loan.

When the loan is finalised, the money will then be transferred into your account, usually quite quickly. The time it takes for the money to be deposited is different depending on the lender, so ask your lender how long it will take. Once the loan is in your account, you are free to spend the money.

It is then your responsibility to pay the loan and interest in the monthly instalments on time for the pre-agreed payment plan. Late payments can lead to further charges, so make sure you are up to date and speak to your lender if you are having trouble repaying the loan.

Short-term loans with bad credit
Can I get a short term loan with bad credit?

Yes, it is possible to get a short-term loan with bad credit. Bad credit is not the only factor considered when a lender looks at your application. It may affect the quality of the loan you receive, but you can still successfully borrow money.

How do I get a short-term loan with bad credit?

If you want a short-term loan but are concerned that your credit rating may affect your application, there are still places where you can find a loan. A credit score is one of several factors that are assessed in a loan application, so you can still be eligible for a short term loan with bad credit.

You can still get a loan despite having a poor credit score. It should be noted that having bad credit may affect the quality of the loan that is offered to you. The loan may come with a shorter repayment period (which doesn’t matter too much if you’re looking for a short-term loan) and a higher interest rate.

The reason why there might be a shorter repayment period and higher interest is that those with poor credit are considered more ‘risky’ and less likely to repay the loan back. However, if you repay your loan on time, it will show to the lender that you’re less risky, which could help future applications.

Can I get short-term loans with no-credit check?

No. All lenders and credit brokers are required by law to perform a credit check on potential borrowers. If you see a lender advertising that they provide no-credit-check loans, then you should be very cautious of applying for a loan with them.

Many people search for no credit check loans as they are concerned that their credit score or history may have impacted their loan applications in the past. Our guide to no credit check loans looks at what to look out for if you see a lender offering them, as well as alternatives for those who are looking for a loan but are worried that their credit score may be a problem.

What are the alternatives to a short term loan if I have bad credit?

If you’ve applied for an unsecured short-term loan, but have found yourself regularly rejected by high-street lenders, then you may want to consider some alternatives.

Secured loans

A secure loan is a loan which is attached to collateral, such as a car or house, which is then used to cover your loan should you fail to repay the loan. It is risky for the borrower as it could leave them losing valuable financial assets. The lender is more likely to grant the loan as the collateral ensures that the lender receives a form of payment.

Guarantor loans

A guarantor loan is where a family member or a friend legally agrees to cover the payments of a loan if you can’t. In practice, if you fail to make a repayment, it is the duty of your guarantor to make the repayment for you. This can help people who are struggling to find a loan because of their credit history.

The person who guarantees your loan must be somebody who you can trust. If the guarantor fails to repay the loan, it will also affect their credit score.

Improving your credit score

If you’re dedicated to applying for an unsecured loan but find yourself being rejected, it may be an idea to try and improve your credit score. There are several ways you can improve your credit score, such as paying bills on time and making sure your voter registration is up to date. For more information about improving your credit score, check out our guide.

How does representative APR work?

APR stands for ‘annual percentage rate’. It refers to the total cost of borrowing money over a year, including the interest and standard fees you have to pay. ‘Representative’ means that 51% of applicants will receive the same interest rate advertised or a lower amount.

For example, the representative rate Flexy Finance offers is 46.19%. Therefore 51% of customers will receive that rate of interest or lower. It is not a guarantee that customers will receive the same representative APR in their loan agreement.

Not everyone within the 51% will receive the same rate as the APR that is advertised. You will likely receive a personal rate which may be different from other applicants.

A personal rate may be higher, lower, or the same as the representative APR. It is usually determined by your credit score, how much you want to borrow, and your finances. APR is often used as a comparison tool to help people compare different loan providers.

Should I borrow money if I’m already in longstanding debt?

It is not advisable that you borrow money to cover long standing debts. Borrowing money to cover long standing debts or borrowing more than you can afford, can lead to financial difficulties.

If you are having problems with debt you can contact the following organisations who are able to provide free advice to people struggling with debt:

How can Flexy Finance help?
Why choose Flexy Finance for a short-term loan?

Here at Flexy Finance, we work with a panel of top UK lenders to help broker a short-term loan that is right for you. We aim to help those who may struggle to find a loan, find the finance that they need.

Our online application process is simple and easy to complete. We also strive to help you receive your loan as quickly as possible.

Is Flexy Finance a lender?

No. Flexy Finance is a credit broker who works with a panel of top UK alternative lenders. As a credit broker, we assess your loan application and match you with a lender that is best suited for the loan. We try to find everyone a loan, even if you’re suffering from poor credit.


For more information about short-term loans, make sure to check out our FAQs.

What is a short-term loan?

A short-term loan is a personal loan that is typically repaid in less than a year; this is what makes it ‘short-term’. The loan itself is usually unsecured, but some lenders of it as a secured loan or a guarantor loan.

How can I get a short-term loan?

You can get a short-term loan by applying online with our application. Our application is straightforward to complete and requires a few personal details. The application is completely online, plus it is compatible with phones, tablets, and computers.

Can I get a short-term loan with bad credit?

Yes, you can get a short-term loan with bad credit. We work with lenders who are able to offer loan applications to people who have a bad credit rating or a thin credit history.

Am I eligible for a short-term loan?

To be considered for a short-term loan, you need to meet the qualifying criteria.

  • 18 years of age or older.
  • A UK resident.
  • Proof of regular income.
  • A valid UK bank account.

How to Find Short Term Loans in Three Steps

Time Needed : 5 minutes
Check these steps to find out how easy it is to apply for a loan at Flexy Finance!
  • 1. Submit An Online Application Form​ for Short Term Loans

    Applying through Flexy Finance is always quick and easy. Simply complete our 1-2 page application form. You can apply on the go, or from the comfort of your own home. Better still, there are no calls or paperwork involved!

  • 2. We search a large panel of UK lenders

    We search a large panel of UK lenders in real time, so that we can deliver you an instant decision. Within seconds of applying you'll know if a lender has accepted you or not. Unlike banks, our lenders are able to issue loans to people from all different walks of life and accomodate a range of different credit scores. There's an option for everyone!

  • 3. Access The Cash

    The majority of lenders are able to deposit the cash direct to your account, within just 24 hours! We'll never charge you any fees and there is no paperwork to complete. There you have it, apply for up to £5,000 in the quickest and simplest way possible today

  • 1. Mobile, Laptop or Tablet.

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