Please note: High-cost short-term credit is unsuitable for sustained borrowing over long periods and would be expensive as a means of longer-term borrowing.
Sites like Drafty
Drafty is one of a handful of loan companies taking a fresh approach to high-cost, short term credit. Find out what similar lenders have to offer.
The 2018 winner of our Short Term Loans Innovation Award, Drafty offers borrowers a credit line – that’s ongoing access to credit with flexible repayment terms – of between £50 and £3,000, as an alternative to traditional payday loans and expensive overdrafts.
Our tool at the end of this page, allows you to compare the cost of short term loans from multiple lenders. Alternatively, here are some other loan companies like Drafty, some of which offer a “line of credit” and some of which offer more traditional loans:
Get up to £3,000 when you need it
- Get ongoing access to a flexible line of credit
- Find out if you’ll be approved without affecting your credit score
- No late fees, no early repayment fees
- Sending funds to your bank within 90 seconds of approval
Representative example: Borrow £1,200 for 12 months at a rate of 65.7% p.a. (fixed). Representative 89.7% APR and total payable: £1627.05 at equal instalments.
Online lenders like Drafty
Compare the cost of payday lenders
As well as comparing short-term loans with other types of credit, before you apply for a loan it’s a good idea to shop around and compare a range of lenders. You can use the table below to get an idea of how much the loan that you have in mind might cost.
We compare payday/short-term loans from
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