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.
Uploan short term loans
A "big sister" company to the better-known Peachy, Uploan offers loans of up to £2,000 over terms of 6 months to 12 months.
Uploan is a new direct lender (not a broker) offering relatively small loans for one-off purposes, such as a new car, dream holiday, wedding, home improvement, etc.
Key features of Uploan short term loans
|Product Name||Uploan Short Term Loan|
|Available amounts||£500 to £2,000|
|New customer maximum||£2,000|
|Loan terms||6 months to 12 months|
|Soft search eligibility check|
|Instant decision in most cases|
|Funding speed||Uploan says that if you're approved, the payment is sent to your bank account within an hour|
|Default repayment method||Continuous payment authority|
|Parent company||Cash On Go Ltd.|
|FCA registration number||674331|
How does it work?
- Use Uploan’s calculator to find a loan amount and term that would be affordable for you.
- Select “apply now” and provide some details about yourself.
- Uploan will process your application, in some cases turning it around the same day.
- If your application is successful, Uploan states the funds will be transferred within an hour.
- You’ll then make repayments on pre-agreed dates by continuous payment authority.
What is a Continuous Payment Authority (CPA)?
With a CPA you give a company permission to withdraw money from your account on a regular basis.
CPAs differ from a direct debit 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/short-term lenders will use a CPA to collect your repayments. You can cancel this at any point by either consulting with your loan provider or your bank.
What are the eligibility requirements?
To be eligible for a short term loan from Uploan, you must meet the following criteria.
|Applicant with CCJs||Must not have had CCJs in the last 6 years|
|Applicant with bankruptcy||Must not have been bankrupt in the last 6 years|
|Additional eligibility notes||Must have a UK bank or building society account with valid debit card|
Must have a working mobile phone & email address
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