Response Funding

Response Funding loans 2022 review and similar companies

Previously known as Fancy a Payday, offers new customers short-term loans of £50 to £500 to be repaid in three fixed monthly instalments – in line with paydays. First-time customers can borrow up to £200.

Response Funding was formerly a direct lender, but is now a broker, authorised and regulated by the Financial Conduct Authority. Previously known as “Fancy a Payday”, it was overhauled in 2016 to better reflect its commitment to responsible lending and fast loan funding times – once approved, you can expect the money in your bank account on the same day.

Response Funding does not offer the same flexibility as many of its competitors, with loans for first-time customers set at £150-£200, and only one repayment option – three monthly instalments. On the plus side, it does consider applications from people with a poor credit history, additionally stating that if you pay back your loan in full on time this could help to rebuild your credit score – giving you more options in the future.

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.

Key features of a Response Funding loan:

  • Borrow £150 to £200. If you make all your repayments on time and pay off your loan in full, you could then be eligible to borrow up to £500. However, please remember that short-term loans are not suitable for longer-term or sustained borrowing.
  • Repay over 3 months. Fast Funding only offers one repayment option of three equal instalments, in line with your payday, however you can actually repay the loan early at any point – saving money on interest.
  • Fixed, high interest rates. With interest rates fixed at the maximum allowed by the Financial Conduct Authority, this is realistically an expensive way to borrow money.
  • Bad credit considered. If you have a poor credit history, Response Funding will still consider you for a loan. The most important factor is your ability to meet the repayments. If you repay your loan on time, this could help to rebuild your credit score.
  • No late payment charges. If you miss a repayment date, Response Funding won’t charge you a fee. They will report the late payment to a credit reference agency, however, which could harm your credit rating and your ability to secure finance in the future.
  • Early repayment. You can repay your loan in full or in part at any time without being penalised. Simply call Response Funding to get a settlement figure. This is recommended, if you can manage it, because you’ll only pay for the days on which you borrow.

How do Response Funding’s loans hold up against the competition?

Table: promoted deals, sorted by total payable

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.

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.
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.

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
Mr Lender Short Term Loan
Moneyboat Short Term Loan
Fund Ourselves (Welendus) Short Term Loan

How does a Response Funding loan work?

For new customers:

  1. Use the slider on Response Funding’s homepage to choose how much you’d like to borrow then specify when you get paid so that Response Funding can work out the most suitable repayment dates.
  2. Fill out the online application form with your personal, employment and financial details.
  3. Provide a recent payslip or bank statement, or alternatively agree to Response Funding contacting your employer to verify your income.
  4. Your application will be reviewed by a representative who will check your details and contact you with a provisional decision. It’s possible that you’ll be requested to provide additional documentation at this point.
  5. Credit, identity and affordability checks will be carried out before you are given a final decision on a loan.
  6. Once approved, you can expect the money in your bank account on the same day.
For returning customers:
  1. Go to the “Reloans/Existing Customers” page on the website. Provide some basic details, as well as uploading your latest payslip or bank statement to verify your income.
  2. Response Funding will re-run the necessary credit checks and give you a quick decision on a new loan.
  3. Once approved, you can expect the money in your bank account on the same day.

How do I pay back my loan?

Like most short-term loan providers, Response Funding 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.

CPA’s 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 CPA’s to collect your repayments. You can cancel this at any point by either consulting with your provider or your bank, but you’ll need to ensure that you make your loan repayments on time by other means.

What are the eligibility requirements?

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

  • Be at least 21 years old
  • Be a UK resident
  • Have a UK bank account
  • Be in permanent employment
  • Earn at least £900 a month and have it paid into your bank account

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

Short-term loans offer a quick solution when you get into unexpected difficulties with your finances, but they are a very expensive method of borrowing. Therefore, you should only consider this option as a last resort. Short-term loans are unlikely to solve your money problems in the long term, and are not suitable for borrowing over longer periods, or for people with serious debt problems.

Before you apply for a short-term loan, make sure you have considered all other options carefully. Is the expenditure that you’re planning absolutely essential? If you can defer a purchase then you could save yourself money in the long run. If you are 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. Read more about alternatives to payday loans at

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 should never have to pay more than double the amount borrowed.

Loans like Response Funding

Response Funding certainly isn’t the only provider of “high-cost, short-term credit” around. We’ve put together a list of lenders offering similar services.

NameEstablishedLoan types
Response Funding Short Term Loan Response Funding Short Term Loan 2010 Instalment loans Go to site
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
Conduit Short Term Loan Conduit Short Term Loan 2012 Instalment loans Check eligibility

Want to avoid taking out a short term loan altogether? Read our guide

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