Care Finance short-term loans review

Care Finance specialises in simple, small instalment loans of £100-£150 that are repaid over 3 months.

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Care Finance
Launched in 2010, Care Finance is a direct lender that offers a cash advance against your next few paychecks.

With high, fixed interest rates in line with most short-term lenders, Care Finance says its personal customer service is what makes it stand out against its competitors. If Care Finance declines your application for a loan, it may ask for your permission to pass your details to other lenders. So, be sure to thoroughly check which lender you are applying for a loan from, that it is regulated by the Financial Conduct Authority (FCA), and what its terms and conditions are.

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

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.

How do Care Finance loans compare?

Table: promoted deals, sorted by total payable

If you’ve used Care Finance’s loan calculator to get a quote and want to see if you’re getting a good deal, find out how much a comparable loan is likely to cost you from some popular short-term lenders:

How much do you need to borrow?


How long do you need to borrow for?


Name Product Available Amounts Monthly repayment Total payable Link
Lending Stream Instalment Loan
£50 to £1,500
Go to site
More Info
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative 1,333% APR and total payable £386.61 in 6 monthly payments of £64.44.
The Money Platform Short Term Loan
£250 to £1,000
Check eligibility
More Info
Representative example: Borrow £500 for 6 weeks at a rate of 255.5% p.a. Representative APR 839.20% and total payable: £647 in 1 payment.
QuidMarket Short Term Loan
£300 to £1,500
Go to site
More Info
Representative example: Borrow £300 for 3 months at a rate of 292% p.a. (fixed). Representative APR 1,301% and total payable: £454.37 in 3 instalments of £151.46.
CASH4UNOW Short Term Loan
£150 to £1,000
Check eligibility
More Info
Representative example: Borrow £200 for 4 months at a rate of 292% p.a. (fixed). Representative APR 1306% and total payable: £332.00, in 4 payments of £83.00.
Mr Lender Short Term Loan
£200 to £1,000
Go to site
More Info
Representative example: Borrow £200 for 6 months at a rate of 292% p.a. (fixed). Representative APR 1,256.0% and total payable £367.40 in payments of £81.33, £73.23, £65.13, £57.33, £49.24, and £41.14.
With this loan your monthly repayment decreases over time. Our 'Monthly repayment' above is a representative figure designed to help compare lenders side by side.
Moneyboat Short Term Loan
£200 to £1,500
Go to site
More Info
Representative example: Borrow £400 for 4 months at a rate of 255.5% p.a. (fixed). Representative APR 939.5% and total payable: £597.48 in 4 payments of £149.37.
Fund Ourselves (Welendus) Short Term Loan
£100 to £1,500
Go to site
More Info
Representative example: Borrow £200 for 122 days at a rate of 211% p.a. (fixed). Representative 501.2% APR and total payable £286.82 in 4 monthly payments of £71.71.
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Compare up to 4 providers

Please note: You should always refer to your loan agreement for exact repayment amounts as they may vary from our results.

We compare payday/short-term loans from

Lending Stream Instalment Loan
The Money Platform Short Term Loan
QuidMarket Short Term Loan
CASH4UNOW Short Term Loan
Mr Lender Short Term Loan
Moneyboat Short Term Loan
Fund Ourselves (Welendus) Short Term Loan

Key features of a Care Finance loan

Product NameCare Finance Short Term Loan
Available Amounts£100 to £150
New customer maximum£150
Loan termsto 3 months
Soft search eligibility check
Employer contacted during application
Funding speedProvided the signed Credit Agreement is received by Care Finance by 5pm, the funds should reach your bank account on the same day.
Repayment period optionsMonthly,Weekly,Fortnightly
FCA registration number671064

Will Care Finance carry out a credit check?

In short, yes, Care Finance will carry out a check with a credit reference agency, but states that this is not necessarily for your credit score – more to confirm your identity. Care Finance also states that it is more concerned with your ability to repay the loan.

How does a Care Finance loan work?

  1. You can apply online using the quick and simple application form.
  2. A Care Finance advisor will contact you to verify your personal details and to talk through your individual financial situation.
  3. Once approved, your loan will be paid directly into your bank account.
  4. Provided the signed Credit Agreement is received by Care Finance by 5pm, the funds should reach your bank account on the same day.

How do I pay back my loan?

Care Finance will debit the money directly from your bank account on the agreed payment dates. These can be flexible to be in line with your paydays but the term will be roughly equal to 3 months.

What are the eligibility requirements?

You should only apply for a Care Finance loan if you are certain you can meet the repayment terms. You must also:

Minimum age18
Min. income£1200 per month or £280 per week
Additional eligibility notesYou must be permanently employed.
You must have a current bank account with an associated debit card.
You must be paid directly by BACS transfer into the same account.

Is high-cost, short-term borrowing a good idea?

Short-term, high-interest “payday” loans from lenders like Care Finance offer a quick fix when you get into difficulty with finances. They are a very expensive method of borrowing though, and should only be considered as a last resort. These loans are unlikely to solve your money problems in the long term, and aren’t suitable for borrowing over longer periods, or for serious debt problems. Before you apply, make sure you’ve considered other options. Is the expenditure you’re planning urgent and essential? If you’re struggling to pay a bill, try talking to your utility provider about a payment plan. Find out about other alternatives at the government’s moneyadviceservice.org.uk.

What is a Continuous Payment Authority (CPA)?

In 2015 the Financial Conduct Authority (FCA) capped interest and fees on all high-cost short-term credit loans at 0.8% per day.
They additionally capped all default charges at £15 and the total cost (interest, fees) of loans at 100% of the original sum. This means you’ll never have to pay more than double the amount borrowed.

Alternatives to Care Finance

Here are some sites providing loans like Care Finance loans, arranged alphabetically:

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

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.

NameEstablishedLoan types
Care Finance Short Term Loan Care Finance Short Term Loan 2010 Instalment loans More info
Lending Stream Instalment Loan Lending Stream Instalment Loan 2008 Instalment loans Go to site
Moneyboat Short Term Loan Moneyboat Short Term Loan 2011 Instalment loans Go to site
QuidMarket Short Term Loan QuidMarket Short Term Loan 2011 Instalment Loans Go to site
Mr Lender Short Term Loan Mr Lender Short Term Loan 2009 Instalment loans Go to site
Savvy.co.uk Personal Loan Savvy.co.uk Personal Loan 2015 Instalment loans More info
CASH4UNOW Short Term Loan CASH4UNOW Short Term Loan 2011 Instalment loans Check eligibility
Conduit Short Term Loan Conduit Short Term Loan 2012 Instalment loans Check eligibility

Frequently Asked Questions

We show offers we can track - that's not every product on the market...yet. Unless we've said otherwise, products are in no particular order. The terms "best", "top", "cheap" (and variations of these) aren't ratings, though we always explain what's great about a product when we highlight it. This is subject to our terms of use. When you make major financial decisions, consider getting independent financial advice. Always consider your own circumstances when you compare products so you get what's right for you.

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