Quidmarket will never charge you any fees. You should never pay upfront fees for a loan or send money in return for a loan.

How To Apply

Need to apply for a short-term loan? Learn how our application process works here.
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How To Apply For A QuidMarket Short-Term Loan

In times of financial uncertainty or unexpected expenses, loans in the short term can be a helpful option to bridge the gap until your next pay date or income stream. If you’re considering applying for a short term loan, you may be wondering how to get started.

QuidMarket is a direct lender that offers short term loans with flexible repayment options. On this page, we’ll walk you through the process of applying for a short-term loan from us, so you can make an informed decision about whether this type of loan is right for your needs.

Begin Your Application

Applying for a QuidMarket short term loan is simple. You can apply for a loan between £300 and £600, over 3 to 6 months. Our loan calculator has ‘sliders’ which allow you to define the amount and term of the loan you require. Simply move the slider across the bar to the required amount, and then do the same for the required term, creating a tailored loan specific to your needs. The next step is to click the ‘Apply Now’ button. This will then begin the quick application process and you will be just a few steps away from the decision.

icon check image Easy To Apply Apply in minutes and have your affordability assessed by our team. There are no automated services involved in our process.
wallet image icon Affordable Our team will help you figure out what you can afford to repay on your loan. We won’t let you borrow more than you can afford to.
thumbs up image Trusted Lender QuidMarket is an FCA-authorised responsible lender, meaning there are a range of protections and guidelines in place if you borrow from us.

Assessing Our Customers

At QuidMarket, we have designed our online application form to enable us to assess your suitability and circumstances quickly. It is important that you provide accurate information when completing this. Failure to provide accurate information when you apply could lead to a rejected application. When applying for a loan with us, we only request essential data. This is a process called “Know Your Customer” (KYC) and is the way QuidMarket and other businesses identify and verify the identity of their customers.

It is necessary for us to collect this information to conform to anti-money laundering regulations and to be able to provide our customers with a suitable loan. The application covers personal and employment details, as well as information regarding your income and outgoings. The application form ends with a mobile verification and a debit card authorisation. We can then move on to the next stage to fully assess your loan requirements.

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Our Team Has The Final Decision

When the short application form is complete, the application moves to the final part, where our team of trained credit analysts look over your application to assess your affordability. QuidMarket prides itself on maintaining our personal service throughout our customer’s journey. Our dedicated team assesses each application and completes thorough checks when you apply, working with you to reach a final decision instead of relying on automated lending processes. Find out more about us here.

Once we have made our final decision, we will contact you as soon as possible. If you are successful, we will send the funds the same day to your nominated bank. Using the Faster Payments System (FPS) ensures the money is transferred quickly to you and should be available in your account within 2 hours, but sometimes, it can be much sooner. The clearing process is dependent upon your bank. It is very rare that the funds do not arrive in your account within 2 hours, but if your nominated account does not receive the funds within 2 hours, please contact us.

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Keep Up Your Repayments

Repayments for a QuidMarket loan are taken using a pre-scheduled debit card transaction called a ‘Continuous Payment Authority’ (CPA). Similar to other lenders and retailers, QuidMarket makes an agreement with your card provider to debit the repayment amount outlined in a repayment schedule. These amounts are set out in the credit agreement and are available to view at any time. Using a CPA means all you need to do is ensure funds are available in your bank account for this to be automatically taken on time, keeping repayment as simple as possible for you.

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Related News / Guides

How To Apply FAQs

Once your application information has been verified and provisionally approved, our team of trained credit analysts will process your application as swiftly as possible. Our goal is to process your application and provide a decision within two hours, allowing us to offer same day loans whenever feasible. During busier periods, processing times may be slightly longer, and applications submitted outside of business hours will receive priority processing the following working day.

The loan funds will be directly deposited into your bank account using the Faster Payments System (FPS), so they should be available for withdrawal within minutes of the transfer. However, in rare cases, your bank may take up to two hours to make the funds available for withdrawal.

To be eligible to apply for our short-term loans here at QuidMarket, you must:

  • Be between the ages of 23 and 65.
  • 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.

If you meet our eligibility criteria, you can easily apply for a short-term loan by completing an online application today. Our application process only requires essential information that we need to process your loan application. To get started, all you have to do is click Apply Now.

As part of our underwriting process, we use Credit Reference Agencies (CRAs) and Fraud Prevention Agencies to conduct a credit check, in addition to an affordability assessment. Our objective is to lend responsibly and avoid providing credit to customers who may not be able to repay their loans. If our assessment determines that a loan could have an adverse effect on your financial situation or cause additional financial hardship, we will have to decline your application.

Our team of trained credit analysts are experts in Responsible Lending and Anti-Money Laundering (AML) practices and comply with the highest ethical and regulatory standards. We aim to make fair and transparent decisions while maintaining the confidentiality and security of your personal information.

As a direct lender, we do not impose any upfront fees on our loans. This means that you will not be charged any fees if your loan application is unsuccessful. Our fees are transparently disclosed, and we clearly explain them to you before you accept and enter into an agreement with us.

To help you evaluate the costs associated with your loan, please use our loan calculator to determine the amount and repayment term that best suits your financial situation. This will provide you with an estimate of the total fees and charges associated with your loan before you apply.

We understand that circumstances can change, and you may want to settle your loan earlier than the agreed repayment plan. Yes, you can repay your loan in full before the end of the repayment period. To do so, please contact us, and our team will be happy to provide you with an early settlement figure. Once you have this information, you can make a payment to settle your loan in full, as long as you can afford to do so.

It’s important to note that we do not charge any additional fees for early repayments. In fact, repaying your loan early can actually reduce the overall amount of interest you pay on your loan, making it a cost-effective option for you. Our team is always available to answer any questions you may have regarding early repayment and provide any assistance you need throughout the process.

Warning: Late repayment can cause you serious money problems. For help, visit: www.moneyhelper.org.uk