Drafty is a modern payday loans alternative lender with loans between £50 to £3,000 for UK applicants. This is offered through lines of credit, which allow their customers to borrow up to the credit limit that they choose and repay over a set term. At QuidMarket, we do not offer lines of credit like Drafty loans, but instead, provide short term loans for those with temporary cash flow issues. If you are currently looking for loans like Drafty to cover an unexpected emergency, we may just be the answer.

To help you make an educated choice about which lender to choose, we want to offer a thorough scope of the market and help you with the comparison work. On this page, we will cover Drafty loans, the type of loans that they offer and details of their terms. Hopefully, this will help you to make an informed decision about whether Drafty or an alternative lender is best for you and your needs.

How much do you need?

£300 £1500

For how long?

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This is for illustration purposes only. Your repayment schedule will be confirmed during your application

*All applications are subject to affordability checks*

Representative example: Borrow £300 for 3 months / Interest payable £154.38 / Total amount payable: £454.38 in 3 instalments / 3 payments of £151.46 / Representative 1301.1% APR / Interest rate 292% per annum (fixed) / Maximum APR 1625.5%

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As a new customer the minimum repayment period is 3 months and the maximum is 6 months. Additional options may be available to you as a repeat customer.

Who Are Drafty Loans?

Drafty loans in the UK are a payday loans alternative lender who offer lines of credit, particularly for those with poor credit. They are part of the GAIN Credit LLC group, who offer responsible and trusted credit solutions to underserved individuals, such as those with bad credit. This means that their lending decisions are mostly based on affordability, but they will look at your most recent history to help them reach a decision. You can apply for Drafty’s services online or use their app, which makes the application process fairly simple, especially if this is your first time applying for a loan.

According to Drafty loans reviews and the information they provide, this lender takes a modern, light approach to their loans. They believe in promoting a healthy relationship with borrowing and taking care to avoid borrowing more than you can afford, which is the approach we take at QuidMarket. This is why we base our lending decisions on affordability and will never give cash loans to customers who do not meet our affordability standards. We always keep our customers’ best interests at heart and offer a personal approach to our affordability checks to ensure nothing is missed.

Borrowing From Drafty

Drafty loans start from as low as £50 and rise up to a maximum of £3,000, so they can cater to longer periods of financial difficulty or large expenses. This is offered as a line of credit, which allows applicants to spend up to their chosen limit, rather than having the funds transferred into their bank accounts. At QuidMarket, we offer our new applicants short term loans like Drafty that start from £300 up to a maximum of £600. We never want applicants to take our more than they can afford, which is why we set our limit at £600 for first time borrowers. However, if you loved our services and return for another loan, you may be able to borrow up to £1,500, depending on your affordability.

The terms for Drafty loans in the UK are flexible, but the maximum amount of time you can set for repayments is 12 months. They state that as long as you make the minimum monthly repayments, you can borrow for as long or as short an amount of time as you like. You also only pay interest on the amount you draw from the Drafty line of credit, so if you do not draw anything, you will not pay interest. As QuidMarket offers short term loans, we offer terms between 3 months and 6 months for new customers, because we feel it is right for borrowers to repay over a period of time that is manageable for them. We keep our terms within reach, so that applicants do not borrow for an amount of time that they cannot afford.

Why Choose QuidMarket?

If you are looking into alternatives for loans like Drafty, we may just be the ideal solution. Despite this, you should research your desired loan provider as much as you can before entering into an agreement. Reading Drafty loans reviews and creating your own comparisons are a great way to determine whether the lender is right for you, but here are a few reasons why we think you should consider QuidMarket as an option:


At QuidMarket, we aim to go above and beyond for all of our applicants to keep our loans as flexible as possible. We want to offer every applicant the opportunity to pay their short term loan over a period that suits them and provide the amount of cash needed for their financial situation. Whether they have a temporary cash flow issue or an unexpected emergency, our short term loans are designed to help. Our loans start at £300 and rise up to £600 for new applicants, with a variety of amounts in between.

Options For Bad Credit

Not all lenders offer loans to those with bad credit, so if you have been turned away by other providers, QuidMarket may be able to help. Like Drafty, we consider all applications, despite your credit score and base our bad credit loans on affordability. This is to ensure that you have the means to make repayments comfortably each month without being left out of pocket. Instead of viewing your whole credit history, we will assess your monthly income, your essential spending, and any other financial commitments you might have. With a personal approach to make our checks, we can fully understand each applicant’s financial situation to make our lending decision.

No Hidden Fees

We pride ourselves on complete honesty and transparency, so we guarantee no nasty surprises or hidden costs with our short term loans. Whether you are looking for same day loans, no credit check loans or something completely different, we do not charge any late payment or upfront fees. Instead, we will clearly explain the loan and repayments before we come to an agreement and there will be nothing more to pay.

FCA Authorisation

When browsing for loans like Drafty, it is essential that you choose a lender who is fully FCA authorised. This type of accreditation ensures that the provider is trusted and reputable, and if you are unable to find the FCA approval on a lender’s site, they should be approached with caution. QuidMarket are proud to be fully FCA authorised and this allows applicants to confidently apply for our loans.

We want you to be completely confident in your choice when it comes to searching for alternatives to Drafty loans in the UK. There is no rush for you to make a decision on the spot, however, if you need a quick solution, QuidMarket could be the perfect option. Our short term loans have been designed to be manageable and affordable for 3 to 6 month periods, making them ideal for temporary financial issues. If you have any questions about our loans, please contact us and our team will be happy to help.

In order to make our short term loans, similar to Drafty loans, sustainably affordable for every customer, we offer tailored quotes based on your unique financial situation. The amount you repay will vary depending on the term you choose, so you can use the calculator tool on our homepage to work out an estimate of the costs for the loan you need. You can also rest assured that we follow the FCA’s guidelines on costs for short term loans, which means you will never pay more than 100% of the original loan amount (including interest and all other costs). We are always as transparent as possible with our loans, clearly laying out the full cost of your loan with no hidden fees or extra payments.

Applying for any type of loan is a risk, as you will need to maintain repayments and protect your credit score. This means are many things to consider before you apply for a loan, which will help you to decide whether they are right for your circumstances. Firstly, it is essential to look at your other options first, such as using a credit union, using your savings, or borrowing from friends or family. These options can be much more affordable ways of borrowing with lower or no interest rates. However, if you decide that a loan is the best choice, make sure you have the means of repaying. Missed repayments can damage your credit score and lead to difficulties when applying for credit in the future. As providers of direct loans like Drafty, we are always on hand to help, so if you feel like you may struggle to repay an instalment on your loan, please contact us straight away.

If you have a low credit score, you may have tried searching for various ways to improve your rating. There are plenty of methods you can use, including:

  • Registering on the electoral roll
  • Checking and correcting any mistakes on your file
  • Avoiding submitting too many credit applications at once
  • Paying your bills on time
  • Keeping your credit utilisation low

However, you may also see some improvements to your credit score by paying off monthly loans in full. This will only apply if you are able to repay the minimum each month to avoid defaulting until the full amount is repaid. Once completed, a repaid account will show up in your credit history, allowing future lenders to see how responsible you are with managing repayments, and potentially improving your rating.

Warning: You should never pay upfront fees for a short term loan or send money in return for a short term loan. Late repayment can cause you serious money problems. For help, visit: www.moneyhelper.org.uk