To apply today for a QuidMarket short term loan you must meet the below:
Before applying, you should consider that short term loans are an expensive form of credit and are not designed for long-term borrowing, meaning there may be cheaper options available to you. Please only apply for the amount you need and take note of the monthly repayments to ensure they are affordable.
We know everyone’s different – so that’s why we make sure our loans are flexible and affordable. If you meet our eligibility criteria above, we welcome you to apply and borrow from £300 to £600 as a new customer, choosing repayments between 3 – 6 months – you can even pay weekly if you prefer. Just use the sliders on the home page to work out how much your repayments will be and make a choice that suits your budget.
Please note that the repayments shown on the homepage are estimates, so your actual instalments will be calculated during the application process. We do this because interest is accrued daily, so if you can afford to repay your loan earlier than scheduled, you’ll pay back less interest overall.
Warning: Late repayment can cause you serious money problems. For further help and advice, please visit Money Helper.
At QuidMarket, we process each application manually – there is never just a robot deciding who gets approved here!
Our process is confidential, but as a responsible lender, we always perform an affordability assessment on each application. We do this using the information you submit as well as the information held about you by a Credit Reference Agency (CRA), so it is important to enter clear and accurate information on your application.
Our chosen credit reference agency is TransUnion (formally CallCredit). Should you wish to query any information that is held on your credit file you can do so by visiting TransUnion’s dispute page.
If your application is approved, we will pay the loan into your bank account on our next available funding run throughout the day. Applications taken outside of normal business hours will be processed as soon as possible on the next working day.
When looking to apply at QuidMarket, there are plenty of good reasons to choose us for an affordable loan. We’re proud to provide human lending that allows us to help many more people get emergency loans when they need them – no hidden surprises, just flexible, transparent online loans.
We take payments for your loan instalments using your debit card via a Continuous Payment Authority (CPA).
This means we will take the agreed amount on your due date automatically, without the risk of your bank charging you for a missed payment as may happen with a missed Direct Debit. You must inform us of any changes to your debit card details so we can update these for you.
If you are unable to sustain the agreed repayments, please contact us to discuss any change of circumstances as soon as you can. This might allow for more options or flexibility when discussing clearing the arrears. For example, we could split a missed payment over future instalments.
Warning: Late repayment can cause you, serious money problems. For help, visit Money Helper.
If you want to repay your loan early, you can contact us at any time during your agreement for an “Early Settlement” figure. We only charge interest for the days you have the loan for, so we will calculate an early settlement figure, and if you’re happy, we can take the agreed amount using your Debit Card. Alternatively, you can make payment directly into our bank account using your online banking. Once the payment is received, your loan agreement will be closed, and the remaining interest removed from the account.
It’s easy to apply as a repeat customer using our Existing Customer Area, as some of the information previously provided is saved on our system. Just select the loan amount and duration you require. We offer short term loans potentially up to £1,500 for repeat customers, over 3 – 6 months. Please pay close attention to how the loan amounts and duration affect the monthly repayments.
All repeat applications are processed manually and are subject to affordability checks in the same way as new customers. If we feel the loan is not affordable for you, we do unfortunately have to decline repeat customers. Any previous QuidMarket short term loans must also be paid off in full before making a new application.
Short term loans are an expensive form of credit and are not designed for long-term borrowing meaning there may be cheaper options available.
We always aim to process your loan as quickly as possible, so our team of trained credit analysts work fast to be able to provide loan approval the same day, usually within 2 hours. As long as we have all the information we need from the CRA and you have accurately completed your application, it’s possible to provide same day loans if you apply during our business hours (Mon – Fri, 8:30am – 4:30pm). Applications outside of these hours will be prioritised the next working day.
No, which is why we can provide bad credit loans for applicants with a poor credit history. As long as you can meet our eligibility requirements and we can determine the loan you want is affordable and sustainable, we can look to help if you have a less than perfect credit score. Please note, if you are in current financial difficulties, we will have to decline your application. You should consider if a loan is suitable for your situation before applying.
The maximum you can borrow as a new customer is £600 and this is subject to credit and affordability checks. We need to ensure you can repay your first loan with us in full before we can consider loans of up to £1,500.
Like all lenders, we cannot guarantee your loan is approved until full credit and affordability checks are complete. If you are ‘provisionally approved’, this means you meet our minimum criteria to apply after submitting your application, however, this can still mean you could be declined. Please ensure all information you provide is accurate so that our team can fully assess your application.