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We do the heavy lifting, so you don't have to. We work with a wide range of leading providers to help you borrow the money you need.
We’re here to help you find the right loan for your needs – searching won’t harm your credit score.
Give us some information about you and the loan you want.
We scour the UK’s leading lenders to find the best deals to suit you.
Found the right deal? Click straight through to start your application.
A small loan is a personal loan which means it will usually be unsecured – so you don’t have to put up any assets, such as your home, as security.
There’s no specific definition of what makes a small loan, but most UK lenders consider sums of anything from £500 to around £3,000 as ‘small’.
We can help find the right loan for you at the best price - and this should mean savings in the interest you pay. Our eligibility checker shows you your chance of being accepted for different loan deals so you’ll know where you stand.
Borrowing a small loan works in the same way as with bigger loans. Here’s what to expect:
Compare deals to find the best rates depending on how much you want to borrow and for how long. See your chances of approval
Once happy with the conditions of your loan, click through to apply directly with your chosen lender
The lender will look at factors including your credit score and income before deciding whether to lend you the money. Funds are paid direct to your account
Start paying off the loan in monthly instalments including interest over a set term until you have cleared what you owe
How much your small loan will cost you will depend on how much you borrow and the interest rate you are offered. The interest rate will be set by the lender, but you’ll be offered a higher or lower rate depending on your credit score.
Borrowers with the highest credit scores are typically offered the best deals and lowest loan rates.
Shopping around and comparing different loans can also help you find the most competitive deal.
Our loans calculator can help you work out how much your small loan will cost.
There are a number of things to consider before you borrow a small loan, including:
Borrowing a smaller sum means lower monthly repayments
You may be able to pay off the loan more quickly
A small loan can help bridge a cashflow gap when you don’t have time to save up
Smaller sized loans tend to have higher interest rates
Borrowing rather than saving up means you’ll pay interest – so it will cost you more overall
If you miss a repayment it will negatively affect your credit rating
Interest rates on small loans can be high so you may want to look at possible alternatives before making a final decision. Other options could include:
Many cards offer low or 0% interest on purchases for the first few months. Try to clear your card balance before the end of the introductory period or interest rates will climb.
Borrow cash through a credit card and transfer it immediately to your current account at low introductory rates. Aim to pay off the balance before the rate rises.
It may be possible to get a small authorised overdraft at 0% interest which could be a convenient way to borrow short term. But some agreed overdrafts are expensive.
Find out more
Find the right small loan for you and see which rates you could get.
Tell us about yourself, your finances and the loan you’re after – if you’re looking to borrow less than £1,000, select ‘Other’ and over how long (the term). Small loans are likely to be only available over a short term.
We’ll search through loans from a wide range of lenders to find the right loan for you. You’ll be able to see your chances of being accepted for different quoted loan deals.
You’ll be able to sort loans by the overall cost and the likelihood you’ll be accepted. Once you’ve made your decision you’ll be able to apply directly with your chosen loan provider
Most small loans can be applied for online in a matter of minutes, but there will be some minimum requirements.
You’ll need to be 18 or over
Have proof of address in the UK
You may also need proof of income
If you’re using a guarantor on your loan they will also require income and credit checks
Lenders will also run a credit check on you before agreeing the loan.
With many small loans it’s likely you’ll only be able to borrow over a shorter time frame. Different lenders will have different policies and terms and conditions so the best way to find out is to do a search (which won’t affect your credit score in any way) to see what loans could be available to you and over what time frame. Taking a loan out over a longer time period will make your monthly repayments lower – but you’ll pay more interest overall.
It may still be possible to get a loan even if you have a low credit score. There are lenders who specialise in loans for bad credit, but you’re likely to pay a higher rate of interest and you won’t be able to borrow as much. If you compare through MoneySuperMarket we’ll perform a ‘soft search’ that won’t affect your credit score. We can then show you loan deals you’re likely to be accepted for so you can get a better picture of what loan you might be able to get.
Use our free credit monitor service to check your credit score and get helpful tips on how to improve your credit score so you can boost your chances of getting a loan.
Once you have been approved for your small loan, you are likely to receive your money fairly quickly. The precise time will vary between lenders.
You might be able to get a small loan if you are unemployed. If you receive benefits, for example, you may still be able to borrow providing you can show you have the means to make the monthly repayments.
Be confident you can pay the money back. If you start missing repayments you will make your financial situation worse, drop further into debt and it could harm your credit rating – making it more difficult to borrow in the future.
A payday loan is usually a small sized loan and taken out over a short-term (such as one month). They were originally designed as loans to help tide you over until payday. Typically they have high interest rates and should be seen only as an emergency measure. MoneySuperMarket doesn’t offer a comparison for payday loans.
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