How It Works

How it works -

How it works

This section contains a brief description of the loan process, from application through to repayments. So, if you have an open loan with us, have repaid a loan in the past or are considering applying for a new loan please read through the information below.

Eligibility check

To qualify for a QuidMarket short term loan you must:

  • Live in the UK.
  • Be over 23 years old, and under 65 years old
  • Have a mobile phone.
  • Have a UK bank account with a valid debit card – we run a verification check that takes 1p
  • Have a job and take home at least £1,250 a month.


Short term loans are an expensive form of credit and are not designed for long-term borrowing meaning there may be cheaper options available. Please only apply for the amount you need and take note of the monthly repayments.

QuidMarket short-term loans are flexible meaning you decide on what you need to borrow and the length of time to pay back, from 3 – 6 months.

We underwrite each loan application manually and are fully compliant and regulated by the Financial Conduct Authority (FCA).

Select your loan




 x £

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

*All applications are subject to affordability checks*

Warning: Late repayment can cause you, serious money problems. For help, visit:

How much can I borrow?

New customers can borrow from £300 – £600 from between 3 – 6 months. Existing customers can borrow from £200 – £1,000 from 1 – 6 months.

Use the sliders above or on our homepage to work out your monthly instalments. Once you are happy with the amounts click on the “Apply Now” button to begin your application.

It is important that you understand how much you will repay before you finalise your application.(Your overall interest, repayments and total to repay may be different depending on your repayment dates).

Application Process

We only ask for the essential information to allow us to work out if the Short Term loan or Payday loan is easily affordable for our customers.

When you have completed the application you will be given your Short Term Instalment loan agreement, the Pre-Contract Information and the Adequate Explanations of the key points of the agreement.

Once you are happy with your Credit Agreement you can then electronically sign the documents and finalise the application. We will also send these to the email address entered on the application form for your records.

Underwriting Process

Once you have completed your application for a Short-term Loan with QuidMarket we will assess the information given to ensure it abides by QuidMarket lending criteria.

We will refer the information to a Credit Reference Agency and undertake an affordability assessment so it is important to enter clear and accurate information on your application.

We will also run Anti Money Laundering and fraud checks.

If the checks come back as OK and the loan application is approved we will pay the loan into your nominated 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 the next working day.

Repaying your QuidMarket loan

We will take payments for your instalments using the Debit card on your application via a Continuous Payment Authority (CPA).

This means we will take the agreed amount on your payday automatically without needing to disturb you.

Also, if a payment is declined or missed you will not have a charge passed on by your bank like a Direct Debit – if this happens we will contact you to inform you of the missed instalment and arrange for the payment to be taken.

If you feel you will be unable to make the agreed repayments you must contact us as soon as possible and a dedicated member of our Customer Care team will discuss a suitable repayment plan with you.

Repayment plans are subject to your personal circumstances so you will need to provide clear, detailed and accurate information in order for us to work out an affordable payment plan for you.

In some cases, you will also need to provide evidence of your income and expenditure and/or changes in circumstances that led to the payment being missed.

Missed repayments can also have an impact on future credit applications with QuidMarket and other companies.

Repeat customers

Making an application to QuidMarket is even easier using our Existing Customer Area as some of the basic information is saved on our system.

Provided all your information is the same and there have been no changes to your financial circumstances you may even be eligible for a higher amount, plus the repayments can be spread over a longer period of time.

As with new loan applications, only apply for what you need and ensure the monthly repayments are easily affordable.

All repeat applications are underwritten manually and are subject to affordability checks, anti-money laundering and anti-fraud checks.

Any previous QuidMarket short-term loans must be paid off in full before making your new application.

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