Satsuma

CashLady as an alternative to Satsuma Loans

CashLady is a credit broker. We work with a varied panel of over 30 direct lenders, all of which are based in the UK and authorised and regulated by the Financial Conduct Authority (FCA).
Bad credit? You could still get a loan. Several of the lenders on the CashLady panel specialise in loans for people with bad credit.

Five reasons to choose CashLady as your Satsuma Loans alternative:

1. The lenders on our panel offer short-term, personal loans from £100 to £10,000.
2. Depending on the amount of money you apply to borrow, you could repay your loan over a term of 3 to 60 months.
3. Our online form takes around five minutes to complete, and we’ll let you know whether we’ve matched you with a loan in just 60 seconds.
4. Searching for a suitable loan with CashLady will not harm your credit score.*
5. If you’re approved for a loan by one of our lenders, your money could be sent the same day.**

How to search for a Satsuma Loans alternative with CashLady

You can search for an alternative to Satsuma Loans with CashLady if you:

If you meet the above eligibility criteria, you’re welcome to search for a loan with CashLady. We’ve included some further information about the CashLady journey, so you know what to expect.

1. How much money do you need to borrow, and how long would you like to borrow it for? Let us know by filling out our straightforward online application form.

2. Next, it’s over to us to search our panel of lenders for a suitable loan. At this point, we’ll also carry out a soft search.

3. If you’ve been matched with a loan, you’ll be redirected to the lender’s website, where you can find out more and decide whether you’d like to make a full application.

4. If you’re happy to go ahead with the loan, the lender will carry out a creditworthiness assessment, which will consist of a hard search or Open Banking.

5. Once the lender has completed their checks, they will let you know whether you’ve been approved for the loan.

How quickly could I get a loan?

If approved for a loan through one of the lenders on the CashLady panel, your money could be sent the same day, although the time it takes for the money to become available in your account will depend on your bank’s policies and procedures.

How do I repay my Satsuma Loans alternative short-term loan?

Before you apply for a loan, it’s important to make sure that you’re able to afford to pay back the money you borrow – plus interest.

Your loan will be repaid in monthly instalments throughout your chosen repayment term. Please note that your monthly instalments will include interest.

Who was Satsuma Loans?

Satsuma Loans, launched in 2013, was a direct lender of short-term loans and a trading name of Provident Personal Credit Limited, part of the Provident Finance Group.

What happened to Satsuma Loans?

Satsuma Loans ceased trading in May 2021 and posted the following statement on their website:

“Over the years, we’ve been proud to help people who need a loan and can’t get one elsewhere. However, the tough economic situation has resulted in us making the difficult decision to stop lending.
As of 10th May 2021, we won’t issue any new loans. This includes new loans to existing customers.”

Can I still make a claim against Satsuma Loans?

Unfortunately, no; the deadline for submitting a claim against Satsuma was February 28, 2022.

Could I still get a loan with Satsuma?

No. As Satsuma is no longer trading, it’s not possible to apply for a loan with them. If you’re looking for a short-term, personal loan, CashLady could help you search. Searching for a loan with CashLady is free, and quotes are no-obligation.

What to do if you’re struggling with money

If you’re worried about money or would like to talk to someone about debt, please reach out to any of the following organisations for free, impartial advice: StepChange, MoneyHelper, Citizens Advice, and National Debtline.

Taken out a loan that you can no longer afford to repay? Please contact your lender as soon as you can. There may be things they can suggest to help ease the financial pressure you’re experiencing.

*If you’re matched with a loan and choose to make a full application, the lender will complete a creditworthiness assessment, which will include a hard search or Open Banking. Undergoing multiple hard searches in a short period of time will harm your credit score. It’s also important to note that a hard search will remain on your credit file for up to 12 months.

**Payout timescales vary between lenders. The time it takes for the money to appear in your account will depend on your bank’s policies and procedures.