Moneyboat short-term loans review

Life isn't all plain sailing. If you've hit unexpected short-term financial difficulty, Moneyboat could help you stay afloat with a loan of £200-£1,500 to be repaid in up to 6 months. But is it worth a punt?



Part of Evergreen Finance London Ltd, Moneyboat is a provider of straightforward and transparent short-term “payday” loans. It offers a discreet, personal service and will not share your details with other companies or contact your employer. Its online application process allows you to avoid time-consuming paperwork and if approved, you can expect the money in your bank account in as little as 15 minutes.

In this guide you’ll find some of the key things you need to know about borrowing from Moneyboat, plus a comparison of short-term loans from a number of popular payday lenders. Expect nautical puns aplenty.

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

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 Moneyboat’s loans compare?

Table: promoted deals, sorted by total payable

If you’ve used the calculator on Moneyboat’s site 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
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. Personal Loan
£300 to £3,000
Representative example: Borrow £1,000 for 12 months at a rate of 152.33% p.a. (fixed). Representative 352.7% APR and total payable £1,999.92 in 12 monthly payments of £166.66.
The Money Platform Short Term Loan
£250 to £1,000
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
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
Representative example: Borrow £200 for 4 months at a rate of 292% p.a. (fixed). Representative APR 1314% and total payable: £332.00, in 4 payments of £83.00.

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 Personal Loan
The Money Platform Short Term Loan
QuidMarket Short Term Loan
CASH4UNOW Short Term Loan

Key features of a Moneyboat loan

Product NameMoneyboat Short Term Loan
Available Amounts£200 to £1,500
New customer maximum£800
Loan terms2 months to 6 months
Soft search eligibility check
Employer contacted during application
Funding speedMoneyboat says that approval can take place the same day, and following approval cash is transferred directly to your account.
Repayment period optionsMonthly
Default repayment methodContinuous payment authority
Additional repayment methodsOnline payment
Repay early at any point
Parent companyEvergreen Finance London Limited
FCA registration number674154
LinkMore Info

How does a Moneyboat loan work?

  1. Choose how much you want to borrow and the length of term you wish to pay it back in.
  2. Complete the simple application form with your contact information and your monthly outgoings, employment, payday and bank details.
  3. Moneyboat will conduct a credit and affordability check to decide if you are suitable for a short-term loan.
  4. If approved, you will be sent your loan documents via email and can sign using an e-signature.
  5. You can expect to receive the money in your bank account within 15 minutes.

How do I pay back my loan?

Like most short-term loan providers, Moneyboat uses a Continuous Payment Authority (CPA) to collect the repayments from your bank account on your chosen dates.

What is a Continuous Payment Authority (CPA)?

A CPA is a recurring payment in which you give a company permission to withdraw money from your account on a regular basis. CPAs differ from direct debits because they give the company being paid the ability to withdraw money from your account whenever they wish, and to take payments of different amounts without consulting you. Most “payday” loan companies will use CPAs to collect your repayments, however you can cancel this at any point by either contacting your provider or your bank.

What are the eligibility requirements?

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

Minimum age18
Min. income£1,000 per month
Additional eligibility notesYou must be in full or part-time employment.
You must have a UK bank account and debit card.
Applications from students will be declined.
LinkMore Info
Moneyboat does not accept loan applications from students.

Changing you loan: Additional borrowing options and early repayment

Moneyboat do not offer “top-ups” or multiple concurrent loans. However, if your circumstances change during the course of a loan, Moneyboat states it is happy to discuss ways in which it can help, and should an alternative repayment plan be required it will aim to help you achieve this.

Once you have paid off the balance on your existing loan, you may be eligible to apply for a second loan. Just bear in mind that short-term loans are not suitable as a long-term solution to debt problems.

Option to change repayment date
Repay early at any point
Repaying early can reduce overall interest
Interest is only applied to days where funds are outstanding
Multiple loans allowed at the same time
Option to extend loan term
Phone number0203 818 7470
LinkMore Info

Are payday/short-term loans a sensible choice?

Payday/short-term high-cost loans from companies such as Moneyboat are a quick solution to an immediate expense. Realistically, they’re a very expensive method of borrowing that should only be considered as a last resort. These loans are unlikely to solve your money problems in the long term, and are not suitable for borrowing over longer periods, or for people experiencing serious debt problems.

Before you apply for a short-term or “payday” loan, make sure you’ve considered other options carefully. Is the expenditure you’re planning absolutely essential? If you’re struggling to pay a bill, then try talking to your electricity, gas, phone or water provider to see if you can work out a payment plan.

12+ alternatives to a payday loan

Did you know?

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.

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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