£200 Loan

Get between £50 - £5,000 paid out by

How much would you like to borrow?

£
  • 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). *HappyPenguin will not perform a credit check but lenders will determine your loan eligibility by performing a soft search. If you accept the loan offer presented to you, a hard credit search will be performed.

    Your Best Option for Getting a £200 Loan

    If you are in a position where you need to get a £200 loan, you don’t want to choose just nay borrowing option. Going to bank for the money might seem like a natural first step, but it could be a complete waste of your time. You will first need to take a look at online loans from private lenders. These loans have the potential to help you get the funds necessary to take care of whatever expenses you might have. The more you learn about this option, the better your chances are of getting what you need.

    Why Borrow from a Private Lending Business?

    The first thing you need to know is why borrowing from a private lending business can be a good idea. These lenders can help you get a smaller size loan with a reasonable term. The fact is that most banks don’t even give out loans this small. It can be a real challenge to borrow a couple hundred pounds for a car repair or something else from your bank or credit union. You also have to consider the convenience factor. These private lenders are mostly based online, which means no tiresome and lengthy paperwork to deal with.

    How much would you like?

    £
    Apply Online

    Reviewing Your Repayment Options

    Private lenders offer multiple repayment options, even for those who borrow as little as £200. When you take the time to find out what these options are, you can choose one to match your needs. You’ll more than likely be able to get a long enough term to pay back your loan on time. This could be a couple of weeks or even 30 days. This means that you won’t have to be concerned with defaulting on the loan because you don’t have enough time to pay it back.

    Apply Today

    It is important that you apply for the loan you need as soon as possible. If you submit your application today, you can possibly get your money within the hour. These loans are set up in such a way that you won’t have to spend all day filling them out. In fact, you’ll most likely find that it only takes about 5 to 10 minutes of your time. You will get an instant response after submitting your application, so you’ll know right away if you qualify.

    Getting Approved Despite Bad Credit

    There are plenty of people in the UK who can tell you that bad credit is not always a problem when it comes to getting the loan you need. The lender you apply with is going to run a credit check, but you can get approved regardless of your score. A low credit rating might affect your interest rate, but it won’t necessarily disqualify you outright. You should never let the fact that you have bad credit keep you from applying. There is still a strong possibility that you can get the money you need from one of these lenders.

    No Hidden Fees

    Some people don’t apply for the loan they need with a private lender because they are afraid of being hit with all sorts of fees. The truth is that most lenders don’t charge hidden extras, so you just pay back the principal plus interest. You will be able to see all of the fees you are required to pay in the loan agreement. If you do not pay your loan back on time, you will be charged late fees, but that’s about it.

    Fixed Interest Rates

    You will also find that a majority of private lenders charge fixed interest rates, which means that they won’t change for the entire term of your fast cash loan. These rates are typically listed on the lender’s website, which you should take the time to look over. The fact that your rate will not change makes everything more predictable. You’ll know exactly how much you have to pay back by the end. You can find out how much you will pay for your loan within a matter of minutes by going online. It is crucial that you get this information before going forward. It will help you to figure out if you can afford the loan.

    When to Apply for a £200 Loan

    There are certain circumstances in which you should really think about applying for one of these loans, and it’s important that you know what they are.

    • You have bad credit: Getting an unsecured short-term loan through a bank can be nearly impossible without a solid credit score/history. Private loans from online lenders gives you a way to get approved despite your low score.
    • You need money right away: You can get the two hundred pounds you need in less than a few hours by going online. This can be very useful if you have a dire expense that you need to be taken care of as soon as possible.
    • It is all you need: If £200 is all you need, a private lending business is the best option you have. It can be challenging to get loans this small from other types of lenders.

    Instant Online Decision

    One of the unique things about private loans from online lenders is that you will get an instant decision when submitting your application. You won’t have to go through an arduous or time consuming waiting period. All you have to do is select the amount of money you want to borrow and fill out the required application. You will know if you can get the loan within seconds. If you are approved, you’ll get your money the same day.

    What Can I Use my £200 Loan for?

    The short answer to this question is “anything you want”. You won’t be limited to using the funds for certain things. Some people use the money they borrow to get their car repaired, while others spend it on new clothes or a fun weekend holiday. How you use the money is completely at your discretion.

    What Are My Chances of Approval?

    There will be a few different factors to consider when trying to determine how likely you are to get approved for the £200 loan you need from an online lender.

    Some of the factors that a lender will consider include:

    • Employment: In order to get approved for a loan, you will need to have a current full-time job. It is also helpful if you have a solid employment history. Those who don’t have a long list of different employers are more likely to get approved.
    • Income to borrowing ratio: The lender will also take a look at how much you make versus the amount you wish to borrow. If all you need is two hundred pounds, you really won’t need to make very much from your job. This really shouldn’t be too much of a concern for most people.
    • Contact information: You won’t be able to get a loan unless you have a valid email address and phone number. You will have to submit this information when you apply for the loan.
    • Credit: Good credit is always a plus with lenders, but it’s definitely not the only factor when it comes to getting approved for a loan. Just because the lender runs a credit check on you does not mean you will get turned down.

    Keep in mind that the approval rate for short-term online loans from private lenders is very high. Close to 90% of those who apply for these loans end up getting approved. This is more than triple the acceptance rate for most bank loans.

    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.

    No Obligations

    Another thing that attracts so many people to online loans is that there are no obligations. Just because you receive a loan offer from the lender doesn’t mean you are legally required to accept it. You can feel free to turn down the offer and keep shopping around for a better deal if you want. This means that you literally have nothing to lose by submitting an application.

    Getting Quotes

    We highly recommend that you spend some time getting quotes from various lenders online before deciding to accept an offer from one in particular. This can help you get the £200 loan you need with minimal interest. Keep in mind that you are ultimately in control of how much you pay for your loan. Those who don’t spend much time doing this research limit themselves severely in a number of ways.

    There are plenty of loan options available these days, but not all of them will match your needs. Getting approved for a small loan can be surprisingly difficult if you don’t use the Internet to your advantage. Private lending businesses offer a better way to get the money you need, whatever it is for. The whole process for obtaining one of these loans is shockingly fast, efficient and convenient. You will be able to get the money you need within a matter of hours, but you need to keep this information in mind at all times.