Cash Loans No Credit Check *

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.

    Do I need a credit check for a cash loan?

    When you need money fast, the easiest option can be to apply for a payday loan, or instant cash loan.

    These cash advances are designed to give you access to finances as quickly as possible – often within a couple of hours. While most of the providers offering payday loans today will deliver the money you request via a bank transfer, some companies may have locations that you can visit to pick up the actual cash.

    When people search for “cash loans”, they’re usually hunting for loans that give them money straight to their bank account, rather than a loan that provides extra credit on a card or something similar. It’s rare for people to want to physically receive cash-in-hand rather than a bank-to-bank transfer.

    How much would you like?

    £
    Apply Online

    Whatever you’re looking for in a cash loan, the most important thing to remember is that you need to choose a regulated and approved lender. This means that no matter how you feel about credit checks, you’re going to need to have one. Even for a £1000 loan.

    What are Cash Loans with No Credit Check?

    If you have a less than ideal credit history, then you might think that the easiest way to get money is to apply for your loan with a lender who doesn’t look at your credit at all. Unfortunately, cash advances in the UK don’t lend this way. Even if you find a lender that claims to offer no credit checks, the truth is that the FCA requires all approved lenders to perform checks on their customers before offering them a cash advance.

    If a company offers you cash loans without a credit check, then they are either being dishonest with you about the services that they can provide, or they’re not adhering to the rules and regulations of the Financial Conduct Authority. Either way, that won’t be the kind of company that you want to borrow from.

    How Do Credit Checks Affect Payday Loans?

    Payday loans or cash loans are a useful lending option for consumers for many reasons. For instance, one of the biggest benefits of these advances is how easy it is to apply for them. Most payday loan providers are willing to take greater risks with the people that they lend to because they’re only giving out small amounts of money for short periods of time.

    Despite this, most loan providers – regardless of whether they specialise in short-term lending or not, will prefer to give money to customers with a positive credit history. From the day you first get a bank account, you’ll be building a history of credit interactions with loan providers, card issuers, and other companies.

    Whenever you apply for financing from traditional banks, payday loan providers and other agencies, those groups will perform extensive research into your credit. Unfortunately for people with bad credit, this research will often convince lenders not to risk their money with you. This means that you walk away with a mark on your credit report left by the search.

    That mark shows future lenders that other companies have already considered giving you a loan and determined that you’re too much of a risk. The more marks you have, the greater your chance of being rejected from any cash loan.

    It’s no wonder that customers in the UK often search for no credit check loans in an attempt to preserve their credit history and protect themselves from rejection.

    What if You Need a Loan with Bad Credit?

    Bad credit can happen for a wide variety of reasons. Some people end up with bad credit because they miss a few repayments on their 12 month loans by accident. Other individuals can suffer from bad credit because they fail to pay a loan on time. Whatever the reason for your credit issues, finding a loan where no credit check is required can often seem like the best option.

    However, the truth is that you don’t really want a cash loan with no credit check. Instead, you need a loan from a provider that works specifically with bad credit cases. These companies are FCA approved, they follow the rules of the financial conduct authority, and they understand your situation.

    While bad credit loan providers can’t promise not to conduct a credit check on your file or guarantee you that you’ll walk away with money at the end of your application, they can give you a better chance of getting the money you need. Remember, guaranteed loans are just as much of a falsehood as no credit check loans. No company can realistically guarantee you a loan until they have evaluated your credit history and affordability levels.

    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.

    If you’re working with a company that guarantees you an approved loan, then you’re either dealing with a scam artist, or a loan broker. Brokers are people who put you in touch with multiple bad credit agencies until they eventually find someone who is willing to give you the money you need. Brokers can often be a lot more expensive to deal with than direct payday loan providers.

    Why Use a Bad Credit Loan Provider?

    In an age of comparison websites and online research, there’s no need to rely on a bad credit broker to find you the loan options that you need. Instead, you can simply search through the available bad credit lenders instead, until you find one that suits your requirements for a quick cash loan.

    With a little bit of comparison shopping, you’ll be able to find a loan provider that offers all of the features that you need. For instance, some payday loan providers can use a soft search during the pre-approval process. This means that the loan provider checks the basics of your credit score without doing a full-scale check. There’s no mark left on your file with a soft search, and lenders can use this research to let you know whether it’s a good idea to officially apply for a loan or not.

    A bad credit loan provider is also more likely to consider other aspects of your situation aside from your credit rating when making a decision about your application. For instance, bad credit companies often look at things like your affordability situation. They might ask you how much money you earn each month, and how much you spend on other essentials like bills, mortgage rates and food.

    Can You Still Get Cash Loans with Bad Credit?

    A cash loan with no credit check might not be a realistic option for today’s consumers. However, that doesn’t mean that you can’t find a good deal with a bad credit loan provider. Remember, a credit check is the only way that lenders can reduce their risk of losing money, and make sure that they’re not giving cash to customers who can’t afford to pay it back.

    If any organisation promises to give you cash without a credit check, then they’re putting themselves and your future in risk. With that in mind, when you’re looking for a loan provider, you should always prioritise honest and approved payday lenders over people who claim to avoid credit checks.

    Other things to look for when you’re comparing lenders include:

    • An easy application process: Most cash loan providers will allow you to complete the entire application form online, without any meetings or telephone calls.
    • No hidden fees: The last thing you want is additional expense on top of your interest and repayments. Make sure that there aren’t any transaction fees to worry about.
    • High approval rates: Check the approval rates on the websites that you visit and find out what the chances are for someone with bad credit.
    • Lots of lending potential: Payday loan and emergency cash providers don’t lend as much money as banks and building societies. The amount of money you can access will depend on the company you choose.
    • Straightforward repayment terms: Make sure that you understand how you’re going to repay your loan. Do you need to give the money back all at once, or over time?
    • Restriction-free funding: Payday loans should be available to use for any reason that you choose. You shouldn’t have to explain the reasons for borrowing money to your provider.
    • Speed: Make sure that the company you choose can get the money you need to you as quickly as possible. Most companies can give you an answer to your application within minutes, and even have your money in your bank account in an hour or less.

    Applying for Loans with Bad Credit

    Rather than looking for cash loans that don’t require credit checks, and putting yourself at risk, search for loans that you’re more likely to be approved for. Bad credit loan providers give you wider access to a range of funding options, without the headache or heartache of applying for cash and getting rejected.

    Remember, it helps to find out what kind of eligibility requirements a loan provider has before you begin your application. For instance, most applicants will need to be a UK citizen to apply, and they’ll need an active and approved current account. You’ll also need to be over the age of 18 to apply and have a demonstratable means of repaying your loan.