Fast Cash Loans of £50 - £5,000 by

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  • 100% Online Process

  • Borrow up to £5,000

  • UK Based Lenders

  • Bad Credit Accepted

  • 2 Minute Application

  • Same Day Transfer

  • Representative Example: Rates from 35.9% APR to max 1304% APR. Minimum Loan Length is 3 months. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 3 months. Total amount repayable is £411.63 in 3 monthly instalments of £137.21. Interest charged is £161.63, annual interest rate of 292% (fixed). Representative 1192% APR (variable).

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    Happy Penguin FAQ's

    Q: How much will Happy Penguin Loans offer me?

    The amount of money you're offered will usually depend on your credit rating and the affordability of the loan amount when combined with the interest rates etc. At Happy Penguin we offer loans of up to £5,000 for any purpose. Same day transfers direct to your bank account.

    Q: What amount of interest is payable.

    The amount of interest (in total) which you will pay will be based on the loan amount you borrow and how long you choose to pay it back over. Obviously lower value loans paid over a shorter period are going to attract less interest than larger loans over a longer period. You can find a representative example above below the amount slider.

    Q: Do you cater for bad or poor credit?

    At Happy Penguin we cater for all customers both good and bad credit - and everything in between. If you have a low credit score you may not be accepted for the amount you wish to borrow but we may offer you a smaller amount. You can then choose whether or not to proceed with the agreement.

    Q: How do I go about repaying?

    When you will in our application form you will be asked for your bank details (name, account number and source code). This is where your loan will be deposited and the loan repayments will automatically be taken out of this same account.

    Q: How will I get the money and when?

    Should you be successful in your application the loan amount will be transferred to the bank account you provided, usually on the same day. Each lender we're partnered with has different transfer times. Some take 24 hours, some take an hour. But rest assured we'll do our best to get you your money as quickly as possible.

    Q: What is the APR?

    APR stands for "Annual Percentage Rate" and it basically means the amount you'd pay back (as a percentage) on a loan taken over the course of a year. Short term payday loans have a relatively high APR in comparison to other loans but that is primarily because the loans are rarely taken over a year. Typically they're taken over a maximum of 3 months so the APR is obviously significantly lower.

    Before applying...

    What to Do Before Applying for a Payday Loan

    As we mentioned above, payday loans can be appealing for a number of reasons. One particular benefit of these cash advances is how easy it is to apply for them. However, just because it's quicker and easier to get a quick cash loan than most kinds of credit, doesn't mean that you shouldn't be prepared. Applying for any kind of loan can be a confusing process - particularly if you're new to things like loans and debt.

    The more homework that you do before you apply for the money you need, the more confident you'll feel when it comes to sending in your application. For instance, it's worth checking out the various payday lenders available in the UK and comparing their offerings to make sure that you're getting the best deal. Although all online lenders in the UK are subject to the same regulations, some can offer a better level of service, and greater value than others.

    Should you compare?

    Comparing your options with a comparison website will help you to track down the loan with the most flexible terms or the fewest fees to worry about. Even when you're in a rush to get the money you need to pay for an emergency, it often pays off to shop around.

    Be realistic about the cash loans that you're most likely to be accepted for too. If you don't think that you'll be able to get a traditional personal loan, don't try to apply before you reach out to a short-term loan provider. Remember that every application you make for a loan leaves a mark on your report that other credit providers can see.

    Before you fill out your application, it's also a good idea to think very carefully about how long you'll need to borrow the cash for. Look at your incoming and outgoing expenses and determine how much time you need to repay what you borrow, taking into account any interest fees and additional expenses.

    Is a Same Day Loan Right for You?

    Same day loans need to be paid off quickly, which means that you won't be spending years paying off interest. This is often great news for people who don't want to worry about being in debt all the time. Compared to long-term loans, the interest you pay overall on a short-term loan can be significantly less.

    If you're wondering whether short term loans are right for you, the first thing you need to ask yourself is whether you're looking to borrow a relatively small amount of money for a shorter period. Next, think about how quickly you want to get access to the money that you need. Short term loans are usually a lot less risky than long-term loans, which means that lenders are happier to give you money quickly. Some loan providers will even give you the cash for your short term loan within a couple of hours or less.


    Instant Loans for Emergencies

    Another thing to keep in mind is that instant or same day loans are much easier to acquire than most loans. If you're looking for money to pay for an emergency bill or deal with a car problem that would stop you from getting to work for the rest of the week, this could be the lending option for you. The requirements for short term loans are usually very minimal. Most providers will approve your application, even if you have a history of bad credit in the past.

    However, if you're particularly concerned that you might not be approved for a loan due to your credit rating, you can always apply for support from a specialist.

    Things to know about Payday Loans

    How Safe Are Payday Loans?

    Some people feel nervous about applying for short term loans - particularly when they're referred to as "payday loans" instead. The good news, however, is that all short-term providers are regulated by the FCA - or the Financial Conduct Authority. This means that anyone you take a short term loan out with will have to treat you fairly and safely. Make sure that you keep an eye out for any unregulated lenders on the market and stay away from them when you can.

    When you borrow from a fully regulated direct payday lender, you're just as safe as you would be with any other kind of loan. Just because short term loans have had a reputation in the past doesn't mean that they're not perfectly safe today. They can be one of the best and most reliable ways to get the money that you need in a hurry.

    Here are some rules to keep in mind when it comes to assessing the safety of cash loans:

    • Lenders will not be allowed to charge more than 0.8% interest on a short term loan per day. This means that over a month, you won't have to pay more than £24 in interest on a £100 loan.
    • Lenders will not be able to charge more than £15 if your payments are late. Although any lender can impose late fees when a borrower doesn't pay back the money they borrow on time, there are caps on short term lender expenses.
    • No matter what happens within your loan, your direct payday lender will not be able to charge more than 100% the value of your loan in charges and fees.

    Make sure that when you're comparing your options for fast loans, you check to make sure that your provider is conducting business as ethically is possible. This sometimes includes registering their business actions with the FCA and performing credit checks on customers.

    Even if you feel nervous about choosing a lender that does a credit check, you shouldn't worry too much. It just means that your lender is checking you can afford the loan. Most providers in this region will give you the money you need, even if you have a poor history.

    What to Look at When Shopping for Short Term Loans

    Before you take out an instant cash loan, however, it's important to make sure that you know what you're signing up for. Comparing your options in advance is a good idea. Make sure that when you're searching for potential lenders, you look at:

    • Any additional fees or charges you might have to pay: Some providers include a set-up fee to transfer money into your account. This can make your lending experience more costly in the long-term.
    • The APR: At first, APR rates can look scary. Remember that they're calculated for an entire year. If you're paying back the money you owe in a month, then your APR won't' be as scary as it seems. Don't get too caught up on this number.
    • Repayment options: Make sure that you know how you'll be expected to pay back your loan, and what your options are when it comes to things like early repayments or overpayments.
    • Late fees and other issues: Check the late fees and consequences. Remember that there is a cap on how much a short term loan provider can ask you to pay if you give them their money late.
    • Ethics and rule following: Check the reviews from other customers to find out what kind of service you're going to get from loan providers. It's best to take a loan out with someone who you can rely on to give you a good experience. It's also important to check that your provider follows the rules of the financial conduct authority carefully.

    Make sure that your loan provider is capable of giving you the amount of cash that you need too. Some payday loan providers are only willing to do up to £2,000, while others will go up to £3,000.

    Why Use Happy Penguin

    • Loans For Any Purpose
    • Quick Money. Direct to bank.
    • Immediate Approval
    • £50 - £5,000 Loans
    • Fast Application
    • UK Based Brokers
    • Reputable Direct Lender Partners
    • Guarantors Not Required
    • No Forms to Fill In
    • 2 Minute Application
    • Money Sent Today
    • Bad Credit Accepted
    • 24/7, 365 Service
    • No Hidden Charges or Fees
    • Poor Credit, No Problem!

    More on Short Term Lending

    What is a Fast Online Loan and How Does it Work?

    A lot of people assume that online loans are just personal loans that don't last for quite as much time. However, the truth is that short term loans follow a very different strategy to basic loans. These lending options are generally for smaller amounts of cash, but they're typically designed for emergency situations. Taking out a short-term loan isn't the same as borrowing money from a personal loan and paying it back quickly.

    Otherwise known as payday loans, short term loans are designed for quick financial support. If you're looking to borrow money to deal with an emergency and pay that cash back as soon as possible, then you're on the right track with a short-term loan.

    The great thing about these loans is that you get them out of your hair as fast as possible. You're not spending years paying out interest to a random provider. Instead, you've got your entire loan paid off within a matter of months. Short term loans even have the potential to improve your credit rating if you know how to use them correctly. Additionally, if you already have a poor credit rating, then short term loans generally come with fewer restrictions than standard personal loans. Since these loans come with a higher interest rate built-in, the lenders take on much less risk. That means that most products will be open to anyone.

    How do Short Term Loans Work?

    Applying for a short term loan is similar to applying for a regular loan.

    The main difference to be aware of is that payday loans are typically easier to access than regular personal loans. With a standard cash advance or personal loan, you may spend weeks responding to bank questions and filling out forms. Even if the application process is quicker than expected, most of these loan procedures take a lot of time when it comes to approving your request. Unfortunately, this means that the basic loan is rarely a good choice for people who need emergency loans in a hurry.

    On the other hand, short term loans are specifically intended for people who are handling a sudden financial emergency. This means that you can expect everything from the application process, to the approval experience to be quick and straightforward.

    Additionally, short term loans also differ from regular loans in the way that they can be paid back over weeks or months, rather than years. The idea is to get out of debt as quickly as possible. With personal loans, your term can last anywhere up to a couple of years. However, with a short-term loan, you'll be expected to either pay your cash back the next time you're paid or as soon as possible.

    Depending on what you need to do with your borrowed money, you may be able to apply for specific terms with certain UK payday lenders. It's best to check how long you can borrow money for with any provider before you apply for your loan.

    How to Use an Emergency Loan

    Applying for a short term loan is usually very easy. Most lenders will allow you to fill out the paperwork online, wherever you are. You might even be able to complete the forms on your smartphone in some cases. When you visit a provider's website, you'll need to provide information on the amount that you want to borrow, and how long you'd like to borrow for. The lender will then offer additional information about the cost of the loan, and how repayments will be collected.

    Keep in mind that although most short term loan providers won't pay excessive attention to your credit rating when deciding whether or not to give you the money you need, they may still perform a credit check. The good news is that most people will be approved for these kinds of cash advances, regardless of what your history with money looks like.

    When you're successfully approved for your short-term loan, you'll need to repay it through monthly instalments, or all at once. You'll be able to find out more about your repayment options on the website of your chosen lender. Typically, it's best to pay your money back all at once if possible, to reduce your interest rates. However, some lenders might place early repayment fees onto short term loans if you try to give the money back according to a schedule that's different to the term that you agreed to.

    Make sure that you carefully check the conditions and terms around your payments before beginning your applications. It may also be worth looking at whether your short term loan provider allows for "over payments." This will mean that you can pay more than you agreed to each month to get out of debt faster.

    What Can You Use a Bad Credit Payday Loan for?

    Often, bad credit loans are intended for emergencies, where you need cash fast, and you may not be able to get it elsewhere. Given their flexibility, short term loans can be ideal for unexpected situations when you need cash fast. Additionally, most lenders won't ask you what you need the money for. As long as you can agree to paying the cash back on time, then you should be able to get it.

    Different people rely on bad credit payday loans for different things. For instance, once person might use their loan to pay for a bill that they forgot about. Someone else might take out a loan because they need to pay for a last-minute repair on their car and they can't afford to wait until payday. Most experts recommend not using short term loans for certain things, such as paying off other debts or funding late-night shopping sprees on the internet.

    Like all loans, your lender will recommend that you borrow money responsibly and think carefully about how you want to use the cash before you apply. Knowing exactly what you want to purchase with your borrowed money will also make it easier to ensure that you're borrowing the amount you need.

    A word from Happy Penguin Loans customers!

    This is my first loan through Happy Penguin and I'm sure it won't be the last. Lovely service and even more lovely website! Thanks guys.

    Linda, Bromborough

    I found Happy Penguin via a Google search and I couldn't be happier with the service they've provided. I took £300 over 3 months and it's really helped!

    Kath, Winchester

    Nice to see another reputable broker enter the market. Great service from the team at Happy Penguin from start to finish. Well recommended.

    Keith, Newport

    Happy Penguin are a great option if you suffer from a bad credit history like I do. I was approved for the full amount I asked for within minutes.

    Tony, Liverpool

    Types of Loans Available

    The Different Types of Short-Term Loans

    Some companies specialise in different types of short term loans. Knowing the kind of options that you'll have to choose from in advance can make it easier to select the loan that's right for you. Most of the time, for instance, you'll find that short term loans are unsecured loans. This means that you won't need to put any capital up to get the money from your provider. A secured loan asks you to give your lender the reassurance that you'll pay them back, by promising to provide them with something of yours if your payments don't go through.


    For instance, with a secured loan, you might secure your lending with the equity in your house, or even your car. Usually, giving your lender this reassurance means that you can benefit from a much lower interest rate. However, on the other hand, there's always a risk that you'll have to give up something extremely valuable if something goes wrong with your finances.

    Because short term loans are typically unsecured, you don't have to promise the lender any of your belongings. However, this does mean that the interest rates can be a little bit higher. Of course, you'll still need to do everything possible to pay your loan back according to the terms that you agree to. However, your items won't be repossessed if you fail to come through on your payments.

    Some of the different types of short-term loan available in the UK today include:

    • A line of credit: Similar to a business credit card, a line of credit is a lending opportunity designed for companies that allow you to tap into extra money in the short-term. Unfortunately, this lending solution isn't available for regular consumers.
    • Online instalment loans: These are similar to any basic short-term or payday loan; the only difference is that you'll manage most of your repayments and your account online. This means that you spend less time on the phone or talking to lenders in person. Most online loans are also very quick to give you approval. You might be able to get your money within a matter of hours.
    • Standard payday loans: Standard short-term loans are the loans that you can apply for via text, over the phone, or even in person from certain high street lenders. These loans are quick to access and great for when you only need to borrow money for short periods.

    There are also short term loans specifically designed for people with poor credit. Sometimes known as no redit check loans, these lending options are intended for people who have a bad financial history. Most short term loans will be available for people with poor credit. However, these specific loans may be the best options to try if you're concerned that you might not be approved by the average lender.

    How Does Happy Penguin Compare?

    Why Use HP?
    What's the max loan amount?
    Up to £5,000
    No hidden fees.
    Is approval instant?
    Yes, immediate.
    On Screen Decision
    Poor Credit Possible?
    Yes. Bad credit too.
    All considered.
    Same day transfer?
    Within the hour!
    Direct to bank!
    Flexible Repayment Dates?
    Flexible terms.
    Quick and easy.
    Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk. Happy Penguin is a broker, not a lender, and does not make credit decisions.