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  • 100% Online Process

  • Borrow up to £5,000

  • UK Based Lenders

  • Bad Credit Accepted

  • 2 Minute Application

  • Same Day Transfer

  • Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed). Representative 669.35% APR (variable).
    *Subject to application being approved by the lender. Not all lenders are able to provide up to £5000.

    Need Money Now? Get an Emergency Loan

    Today, countless people find themselves in difficult financial situations, seemingly without warning. You might find that your boiler suddenly breaks, leading you in search of an expert repair. Perhaps your car suddenly breaks down, or you need to pay a bill that you forgot about.

    Whatever the reason you need money now, it’s important to remember that there are options out there for you – even if you have bad credit.

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    In the past, applying for loans and cash advances was far more difficult than it is today. If you wanted to borrow money for an emergency, you had to go through the complicated process of asking for an increase on your credit card limit, using a bank overdraft, or even applying for a personal loan.

    Now, there are specific lending options designed to support people who need to borrow money quickly and safely. What’s more, you don’t even have to visit a bank or building society to get this money. You can access everything you need online.

    What is an Emergency Loan?

    An emergency loan is exactly what it sounds like – a form of easy lending solution designed to give you quick access to the money you need when you’re in a pinch. Otherwise known as payday loans or cash advances, these lending solutions are only intended for small amounts of money, and short term periods. Often, you’ll need to pay back what you owe when you reach your next payday.

    If you’re looking for fast, reliable funding that you can deal with as quickly as possible, an emergency loan could be just what you need. These options are excellent for people who have less than perfect credit too. After all, many payday loan providers are willing to consider multiple factors when deciding whether you’re right for a loan, including your current affordability and income.

    Emergency lending options are different to your standard personal loans and cash advances because they’re created with speed in mind. Usually, you can apply for this money online with a reputable lender and get a response in a matter of minutes. If your loan application is successful, you may have the cash that you need in your bank within an hour or less.

    How Do Quick Loans Work?

    When you need money to deal with an emergency, speed is key.

    You can’t afford to wait around for someone to get back to you with a bank appointment. That’s why the application process for this lending option is very simple. Usually, you’ll just need to fill out an online form with some basic information, like your name, address, and bank account details. Remember, you’ll need a valid, current account so your money can be transferred to you rapidly online.

    If you’re approved, you’ll be able to get your money usually within the same 24 hour period as you send your application. Keep in mind that the speed at which you get your money will vary depending on a range of factors – including the lender you choose.

    You may also have to edit your application or answer additional questions if there are things about your form that your provider doesn’t understand. That’s why it’s always a good idea to check your application for errors – even when you’re in a hurry.

    Why Might You Need an Urgent Loan?

    In an ideal world, we would all be earning enough money each month to place cash aside into an emergency fund. That way, we would know that we always had cash available to deal with the unexpected parts of life. Unfortunately, most people don’t have this luxury.

    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.

    An urgent or emergency loan can be one of the fastest, most effective, and easiest ways to get a quick cash injection when you need it most. This is particularly true if you don’t have friends or family members with the extra money you need for your emergency.

    With a short-term emergency loan, or a bad credit guarantor loan, you can get the money you need to deal with your current situation, and make sure that you’re back on track and ready to get back to normal as quickly as possible. Although there are rarely any restrictions around how you can use an emergency loan, some of the most common reasons to seek out this financing include:

    • Home appliance repairs
    • Car repairs
    • Unexpected vet expenses or dental bills
    • Utility bills
    • Replacement of household items

    How to Apply for A Quick Loan Successfully

    When you’re applying for a short-term loan online, there will always be eligibility criteria that you need to meet. The good news is that payday loans are generally much easier to be approved for than any other kind of cash advance. With a payday loan, you should be able to get the money that you need if you’re over the age of 18 and a resident of the United Kingdom.

    It also helps to have a good credit rating, but it might not be necessary in all cases. What is essential, is that you have a regular source of income available that you can use to pay back what you owe. If you can prove that you have money coming in each month when your lender conducts their affordability check, you should be ready to go.

    Remember, when you apply for a loan online, you’ll need to enter some basic details, this includes how much you want to borrow, and how long you want to borrow the money for. Usually, there’s a limit on how much you can access with short-term loans. Don’t expect to borrow more than a couple of thousand pounds from any lender.

    It’s also important to note that some providers will need you to pay back the money that you borrow in a single chunk. This means that you’ll need to ensure that you have all the cash you need to pay back ready and available on your next payday.

    If you fill out all the information on the loan form accurately, and you’re approved for the money that you want to borrow, then you should be able to access your cash very quickly. If there were any issues that you weren’t aware of, then your lender might get in touch with some additional questions about the money you want to borrow. Don’t panic if this happens; it doesn’t mean that you haven’t been approved for your loan!

    How Much Can You Borrow, and How Fast will the Money Come?

    The amount you can borrow from a payday loan provider will depend on a lot of factors. For instance, some lenders simply offer more significant loan amounts than others. Additionally, people will be more willing to lend larger amounts of cash to you if you have a good credit history, and your affordability check comes back looking positive. You should always make sure that you only borrow the amount you can reasonably repay.

    Just as the amount you can borrow will vary from one lender to the next, the speed with which you can access your money is likely to vary too. Most companies will be able to deliver your cash within 24 hours or less.

    When you’re checking out details on how you’ll be able to repay your loan, what the eligibility criteria for each lender is and more, you can also look for more information on how quickly you’ll be able to get your money. Many emergency loan providers pride themselves on their ability to deliver cash quickly. However, bank holidays and weekends can stop some companies from giving you the money you need straight away.

    What Will Credit Mean to My Loan?

    If you need money now, then it makes sense that you might be worried about your credit situation. A good credit rating will always make it easier to access the cash that you need. The good news is that many payday loan providers don’t have a problem with giving credit to people with a poor credit history too. All you need to do is make sure you look for specialist lenders when you’re comparing your options.

    You might even find that taking out a payday loan makes your credit situation a little better. As well as being convenient and easy to apply for, payday loans are also a helpful way to show the credit agencies that you’re reliable. Because you pay them back straight away, there’s less of a chance that something will go wrong during the term of your loan that could cause issues with your repayments. On the other hand, traditional long-term loans paid back over a series of years can be unpredictable. If you lost your job or had additional bills to pay, your loan repayments could suffer.

    Although you should never take out loans just to improve your credit rating, if you’re diligent about paying your emergency cash back on time, there may not be any significant downsides to taking out an urgent loan. You’ll get the money you need fast, and make sure you’re ready to get your life back on track.

    Warning: Late repayment can cause you serious money problems. For help, go to Happy Penguin is a broker, not a lender, and does not make credit decisions.