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.
| Name | Established | Loan types | ||
|---|---|---|---|---|
 |
Satsuma Short Term Loan | 2013 | Instalment loans | More info |
 |
Lending Stream Instalment Loan | 2008 | Instalment loans | Go to site |
 |
Moneyboat Short Term Loan | 2011 | Instalment loans | Go to site |
 |
QuidMarket Short Term Loan | 2011 | Instalment Loans | Go to site |
 |
Mr Lender Short Term Loan | 2009 | Instalment loans | More info |
 |
Conduit Short Term Loan | 2012 | Instalment loans | Check eligibility |
Since 2013, Bradford-based Satsuma Loans has been providing fast loans at high interest rates, that borrowers with a diverse range of credit scores can repay weekly or monthly. Initially billing itself as an “antidote” to payday loans, Satsuma Loans lets you spread repayment over a number of months, making for lower monthly instalments but a higher overall cost – with its sky-high APR, a Satsuma loan is far from cheap.
Like its former rival Wonga, Satsuma has had its fair share of complaints, compensation claims and bad press – and not just for the high APR of its services. Notably, in 2017, it was fined £80,000 by the government’s Information Commissioner’s Office (ICO) for sending consumers unsolicited spam texts. The company has thus-far lived to fight another day, however.
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.
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