How It Works

Applying For A Short Term Loan

To apply for a QuidMarket short term loan, move the sliders on the loan calculator to the required loan amount and loan term. Once you are happy with the amount and term selected, then click the ‘Apply now’ button and you’ll be taken to step one of the application form.

Just fill out your information on the online application form and ensure that the information you provide is accurate. Once the form has been completed, we will assess the application and a member of the underwriting team will make a final decision. Once we have made a final decision you should receive the funds the same day, these will be transferred to the account details provided on your application.

Applying Out Of Hours

If a short term loan application is received out of QuidMarket office hours it may not be processed until the next working day depending on what time you apply. If we are not able to process your application until the next working day then we may ask you to electronically sign for your short term loan again to reconfirm the repayment amounts and dates prior to funding the loan, this will also reduce the interest repayable.

Improving You’re loan Application

We all need a little help every now and then, that’s why we offer short term loans from £200-£750 (£300 to £600 for a new customer). Before you apply for a Quidmarket short term loan you should make sure that you meet the following criteria:

  • Between 23-65
  • Valid Debit Card and Direct Debit Facility
  • In employment – Monthly take home pay must be over £1000
  • Have a mobile phone
    • We text a 4 digit verification code to your mobile which you will use to finalise your application.
  • Live in the UK
  • Only apply for what you can afford
    • This will ensure you only borrow what you need and help keep the repayments affordable, both now and for the life of the loan.

Responsible Lending

As a direct lender, we take responsible lending seriously and will not ever knowingly accept an application for a short term loan where we believe it does not meet our strict affordability assessments. If we have reason to believe the short term loan is not sustainable or may have a negative impact on your finances in the long term we will not approve the loan and may direct you to help and advice about short term instalment loans third party organisations that can help or advise you.

If used responsibly, QuidMarket Loans are good value for money but only if used how they are designed – as a short term loan, (with instalments due on your payday), to help if you need that extra bit of cash from time to time.

As a responsible lender we:

  • May require you to provide us with more information so we can accurately assess the affordability of the short term loan.
  • May contact your work to confirm employment, but don’t worry, we will never tell them the reason for the call or divulge any information at all – they will not be told about your application – we fully adhere to the Data Protection Act and our Data Protection Registration Number is Z2501836
  • Will perform affordability checks based on the information provided by you and Credit Reference Agencies as part of your application. Information on which companies we use are available on request.

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