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

Home » How it Works

How It Works

Discover how a QuidMarket loan works, from start to finish.
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01. Do You Qualify

To apply today for a QuidMarket short term loan you must meet the below:

icon check image At Least 23 You will need to be between the ages of 23 and 65 to apply.
icon check image UK Resident You must currently live in the United Kingdom to qualify.
icon check image Valid Mobile Number Have a valid mobile number to receive text messages about your application.
icon check image UK Bank Account and Debit Card You must have a current UK bank account and a valid debit card.
icon check image Be Employed All applicants must be employed either Full-Time or Part-Time.
icon check image Earn at least £1,250 p/m You earn a take-home salary of at least £1,250 per month.
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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.

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02. Application Process

*We underwrite each loan application manually and are fully compliant and authorised. *All applications are subject to affordability checks*

To start your application, click apply now and select the loan amount you want to borrow and how many months you want the loan for. You will need to fill in some personal information about yourself and your employment details, as well as some financial information, like your income and outgoings.

Please ensure this information is as accurate as possible as we use this as part of our affordability assessment. You will also need to provide your bank and card details so that we can pay the loan into your account and take your card details for your repayments. We collect them automatically using a Continuous Payment Authority (CPA) on the due date – all you have to do is ensure available funds are in your bank account for this.

If you are provisionally approved at this stage, you will be directed to a screen with 3 important documents – “Pre-Contract”, “Loan Agreement” and “Adequate Explanations”. Please ensure you review all of these documents and that the information within them is correct including your repayment schedule. Once you are happy with the three documents, you can then e-sign and finalise the application. We will also send these to the email address entered on the application form for your records.

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03. Underwriting Process

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.

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We Offer Loans Between £300 - £1,500

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.

lock icon No Hidden Fees There are no hidden fees added to your loan, and we charge no admin or late payment fees either.
timer icon Same Day Cash Transfer You can get same day loans once approved where possible, helping you resolve a situation faster.
stamp icon Flexible Repayments Choose a flexible repayment schedule from 3 – 6 months that suits your circumstances.
money icon Your Details Are 100% Secure Our website is secure and compliant, keeping your personal details private and not shared.
user icon No Guarantor Required No need for a guarantor, a bad credit loan is possible if you can afford to sustain repayments.
thumbs up Authorised Lender We’re an Authorised direct lender of quick cash loans, working to responsible lending guidelines.

04. Repaying Your QuidMarket Loan

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.

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Making Early Repayments

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.

374k+
Successful approved loan applications.
£158m+
Lent to customers in short term loans.
7,072+
5 star customer reviews on Trustpilot.
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Applying as a Repeat Customer

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.

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How Our Loans Work FAQs

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.

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Representative example: Representative example: Borrow £500 for 5 months - Interest payable £359.90 - Total amount payable: £859.90 in 5 instalments - 5 payments of £171.98 - Representative 1,301.80%. APR - Interest rate 292% per annum (fixed). Repayment periods are 3 months to 6 months, Additional options may be available to you as a repeat customer. Total Maximum APR 1,612.00%
Quidmarket is a trading name of Stagemount Limited Authorised and regulated by the Financial Conduct Authority, our firm reference number is: 677995. Registered Office; Stagemount Ltd, 8th Floor, Waterfront House, 35 Station Street, Nottingham, NG2 3DQ. Registered in England and Wales company number: 07259223. Data Protection: Z2501836. Copyright © 2025 QuidMarket Loans – Short Term Loans.