Frequently Asked Questions

No, customers are unable to take out a second loan whilst having another outstanding one with us. We also do not offer the ability to ‘top-up’ your loan during your credit agreement. Our cash loans are underwritten individually and affordability checks are completed based on the information within the application, so it is not a ‘credit limit’ like some lenders may offer. Once your loan is repaid in full, you are welcome to apply again in future if you need to. However, you should always consider whether further borrowing is right for your circumstances and is affordable.

Our Customer Service Team is available to assist you Monday to Friday from 8am to 6pm, and on Saturday from 8am to 3:30pm. If you are an existing customer, you can manage your account, update your details, or make a payment 24/7 by logging in through the Existing Customer Area.

We are committed to providing a high-quality service to all our customers. When something goes wrong, we need you to tell us about it as this will help us to improve our standards.

New customers can borrow between £300 and £600, with returning customers able to apply for up to £1,500 if their first loan is settled in full. This is dependent on passing credit and affordability checks first. We offer flexible repayment terms between 3 to 6 months depending on your personal needs. You can use the sliders in our loan calculator to see how the repayments are affected by the different loan terms, helping you choose the right loan for you.

Once the information on your application has been verified and provisionally approved, our trained credit analysts will process your application as quickly as possible. We always aim to process your application and provide a decision within 2 hours, so we may be able to offer same day loans where possible. Busy periods may take a little longer and applications received outside of business hours will be prioritised first thing the next working day.

We will deposit the funds directly into your bank account via the Faster Payments System (FPS), so they should be available within minutes of the transfer. On rare occasions, it can take your bank up to 2 hours to make the funds available for you to withdraw.

To be eligible to apply for a loan, you must meet the following criteria:

• Be between the ages of 18 and 67
• Be a resident of the United Kingdom
• Have a valid mobile number to receive text messages
• Possess a current UK bank account with a valid debit card
• Be employed and receive a take-home salary of at least £1,250 per month

Yes, we offer bad credit loans, and our team of trained credit analysts will assess affordability and your ability to repay the monthly instalments. This means that a poor credit history will not necessarily disqualify you from being eligible for a loan. All loan applications are processed individually by our team of trained credit analysts, who carefully assess each application to determine its suitability for approval.

Yes, we do use Credit Reference Agencies and Fraud Prevention Agencies as part of our underwriting process, in addition to conducting an affordability check. The purpose of this is to ensure that we lend responsibly and do not offer credit to customers who may be unable to repay their loans. If our findings indicate that a loan may have a negative impact on your finances or cause additional financial difficulty, we will have to decline your application. Our team of trained credit analysts are trained in Responsible Lending and Anti-Money Laundering (AML) practices, and adhere to the highest ethical and regulatory standards.

We are a direct lender and we do not charge any upfront fees, meaning we will not charge you if your application is unsuccessful. Our costs are transparent and clearly explained before you accept and enter into an agreement with us. Please use our loan calculator to see how much the loan amount and repayment term you want may cost before applying.

You might see the phrase “Provisionally Approved” on our email to you upon receipt of your completed application form. Provisional Approval does not mean the loan will be granted. This simply means that your application has met the minimum criteria for your application to be reviewed. Once you have completed the application form, our system will verify that the information is correct, for example, your address, bank account and debit card details. If these checks come back OK, your application is considered “Provisionally Approved” and will be passed to our team of underwriters who will perform the final checks.

We accept payments via debit cards and bank transfers only.

Please note: We do not accept credit cards for repayments. Using a credit card to repay a short-term loan can increase your overall debt and financial risk. We’re committed to responsible lending and want to help you avoid the potential for growing financial pressure

A CPA lets us take the agreed loan repayments from your bank account using your debit card when your payments are due.

How and when we’ll use it

We’ll only use your CPA to take payments on the dates we’ve agreed with you, and for the amounts agreed. 

You’re in control

If you request it, we are able to amend the instalment repayment dates to an agreed date, but we will need at least 3 working days’ notice to be able to do this.

You can stop (cancel) this payment method at any time.  Just tell your bank or tell us.  You don’t need our permission to cancel it.

If you do cancel and we are unable to collect payment by CPA, then you should contact us to pay what you owe by other means. 

What happens if my payment doesn’t go through?

You should ensure there are sufficient funds to cover your payments.

If we try to take a payment and it doesn’t work (for example, if there’s not enough money in your account), we’ll only try once more on the same day (i.e. two attempts in total).  After that, we won’t try again unless you say it’s okay.

You should let us know if you are in financial difficulty and cannot pay, you can also get help by visiting: www.moneyhelper.org.uk

If you are unable to make your payment on the due date you must contact us to let us know and arrange an alternative repayment schedule.

We need to know as soon as possible if you are experiencing financial difficulties and will work with you to resolve these.

If you do miss a payment, we will never add default fees or any other charges to your account. 

We won’t take part-payments without asking you first

We will only take the full agreed payment. We won’t take a smaller amount unless you tell us we can.

Contact details

You can contact us by writing to us at Propel Holdings (UK) Limited, 8th Floor, Waterfront House, 35 Station Street, Nottingham, NG2 3DQ, calling us on 0115 845 6434, or emailing us at [email protected].

Further information on our Debit Card Continuous Payment Authority can be found under section 3 in your Loan Agreement.

Our Customer Service Team is available to assist you Monday to Friday from 8am to 6pm, and on Saturday from 8am to 3:30pm. If you are an existing customer, you can manage your account, update your details, or make a payment 24/7 by logging in through the Existing Customer Area.

A short term loan enables you to borrow the money you need and choose repayments over 3 – 6 months. This allows you to choose affordable, flexible monthly repayments that match your budget and is ideal for helping you resolve emergencies and short-term financial issues. This can be convenient when you need to borrow a small loan amount and would prefer to spread the cost of repayment over a few instalments rather than settle in full on your next salary date.

We are committed to providing a high-quality service to all our customers. When something goes wrong, we need you to tell us about it as this will help us to improve our standards.

As a consumer credit lender, our services are subject to the jurisdiction of the Financial Ombudsman Service. If you have a complaint about our services you should contact us either by post, telephone or email using the details on the Contact Us page and we will endeavour to resolve it as soon as possible.

You can repay your loan early at any time.

If you choose to do this, please contact us so we can provide an accurate settlement figure showing the exact amount needed to clear your loan.

Because the total interest is based on the full loan term, the amount you repay may be lower if you settle early, as this reflects the shorter time the loan has been outstanding.

However, in some cases, paying early may not reduce the total amount payable. This is because there is a limit under FCA rules on the total cost of the loan, meaning interest does not continue to build beyond a certain point.

If this limit has already been reached, settling early will not reduce the total amount you need to repay.

The total cost of your loan is fixed at the start, so it does not keep increasing over time in the way some other types of credit do.

Interest is calculated into your balance at the start of the loan, rather than being continuously added indefinitely.

If you are experiencing financial difficulties, we encourage you to contact us as early as possible. Where appropriate, we may reduce or waive part of the interest included in your outstanding balance as part of a forbearance arrangement.

A Notice of Sums in Arrears (NOSIA) is a letter we’re required to send you if you’ve missed two or more payments on your loan or credit agreement.

It’s a legal requirement under the Consumer Credit Act to keep you informed. It doesn’t mean we’re taking any legal action — it’s simply to make sure you know how much you’ve missed and what your current balance is.

You’ll continue to receive this notice every six months if the account stays in arrears.

A CCA Annual Statement is a yearly summary of your loan or credit account, sent to you as part of our legal duties under the Consumer Credit Act.

It shows key information like your payments over the last year, how much you still owe, and any interest or charges applied.

We send it once a year to help you stay informed about your account – receiving one doesn’t mean there’s a problem.

A CPA lets us take the agreed loan repayments from your bank account using your debit card when your payments are due. 

How and when we’ll use it

We’ll only use your CPA to take payments on the dates we’ve agreed with you, and for the amounts agreed.

You’re in control

If you request it, we are able to amend the instalment repayment dates to an agreed date, but we will need at least 3 working days’ notice to be able to do this.

You can stop (cancel) this payment method at any time.  Just tell your bank or tell us.  You don’t need our permission to cancel it.

If you do cancel and we are unable to collect payment by CPA, then you should contact us to pay what you owe by other means. 

What happens if my payment doesn’t go through?

You should ensure there are sufficient funds to cover your payments.

If we try to take a payment and it doesn’t work (for example, if there’s not enough money in your account), we’ll only try once more on the same day (i.e. two attempts in total).  After that, we won’t try again unless you say it’s okay.

You should let us know if you are in financial difficulty and cannot pay, you can also get help by visiting: www.moneyhelper.org.uk

If you are unable to make your payment on the due date you must contact us to let us know and arrange an alternative repayment schedule.

We need to know as soon as possible if you are experiencing financial difficulties and will work with you to resolve these.

If you do miss a payment, we will never add default fees or any other charges to your account.

We won’t take part-payments without asking you first

We will only take the full agreed payment. We won’t take a smaller amount unless you tell us we can.

Contact details

You can contact us by writing to us at Propel Holdings (UK) Limited, 8th Floor, Waterfront House, 35 Station Street, Nottingham, NG2 3DQ, calling us on 0115 845 6434, or emailing us at [email protected].

Further information on our Debit Card Continuous Payment Authority can be found under section 3 in your Loan Agreement.

Our Customer Service Team is available to assist you Monday to Friday from 8am to 6pm, and on Saturday from 8am to 3:30pm. If you are an existing customer, you can manage your account, update your details, or make a payment 24/7 by logging in through the Existing Customer Area.

We are committed to providing a high-quality service to all our customers. When something goes wrong, we need you to tell us about it as this will help us to improve our standards.

As a consumer credit lender, our services are subject to the jurisdiction of the Financial Ombudsman Service. If you have a complaint about our services you should contact us either by post, telephone or email using the details on the Contact Us page and we will endeavour to resolve it as soon as possible.

No, customers are unable to take out a second loan whilst having another outstanding one with us. We also do not offer the ability to ‘top-up’ your loan during your credit agreement. Our cash loans are underwritten individually and affordability checks are completed based on the information within the application, so it is not a ‘credit limit’ like some lenders may offer. Once your loan is repaid in full, you are welcome to apply again in future if you need to. However, you should always consider whether further borrowing is right for your circumstances and is affordable.

As part of your loan agreement, a Continuous Payment Authority (CPA) will be set up on your bank account. We collect your loan repayments automatically through debit card payments, in line with the repayment schedule in your credit agreement. Unlike a Direct Debit, there is no charge from your bank if for any reason there is a failed payment. When your instalment loan application is complete, you’ll receive the full schedule for your loan repayments so that all you need to do is ensure available funds are cleared before the due date. You can find further information on the CPA under section 3 in your credit agreement.

Yes, if you can settle the full balance of your loan with us before the end of the repayment plan, please contact us. Our team will be happy to provide an early settlement figure and take payment to settle the loan if you can afford to do so. We do not charge any extra fees for this.