If you need money quickly - for example, to pay for an emergency such as a broken boiler - applying for a loan online could be a convenient option.
Remember, you should always do thorough research before you make a financial decision, especially when considering applying for credit.
The CashLady guide to online loans answers some important questions that could help you make the right choice for you and your finances.

What is an online loan?
An online loan is a personal loan you research and apply for online. This means that in most cases you can complete your application from the comfort of your own home using your mobile phone, tablet, or computer.
What’s the difference between a direct lender and an online credit broker?
When you apply for an online loan with a direct lender, you will undergo a creditworthiness assessment, which could include a hard credit search. If your application is unsuccessful and you choose to apply again with another direct lender, another creditworthiness assessment will be completed, which could add another hard search to your credit file. Too many hard searches in a short space of time could damage your credit score.
Using a credit broker to search for an online loan could be a convenient alternative. A credit broker like CashLady can show your one loan application to many lenders at the same time. If you are matched with a loan and go on to make a full application, you could only need to complete one full credit check.
How can CashLady help me search for an online loan?
CashLady is a credit broker, not a lender. We work with a panel of trusted lenders to match our applicants with a suitable online loan. We could help you search for an online loan from £100 to £10,000 with a repayment term from 3 to 60 months, depending on the amount you apply to borrow.
The majority of the 30+ lenders on our panel can process loan applications entirely online, although please be aware that some may ask you to complete your application in person at your nearest branch.
Can I search for an online loan with CashLady?
If you’d like to use CashLady’s credit broking service to search for a loan online, you’ll need to make sure that you meet our eligibility requirements, which we’ve outlined below.
You must:
- Be over the age of 18;
- Be a UK resident;
- Have a UK bank account and a valid debit card; and
- Have a regular source of income paid into your bank account.
How do I search for a loan with CashLady?
You can start your search for an online loan by completing our form here.
We’ll ask you for some information about yourself, such as your name, address, and employment status. We’ll also ask about your income and your monthly outgoings, including your utilities and rent or mortgage payments.
Once you’ve submitted your details, we’ll share that information with our panel of lenders. If we’re able to match you with one of our lending partners, you’ll be redirected to their website to review your loan offer, and, if you choose to, complete the final stages of your application.
Will I need a credit check for a loan online?
Yes, you will need to undergo a creditworthiness assessment, sometimes referred to as a full credit check, as part of the application process with the lender.
A creditworthiness assessment will consist of a hard search or Open Banking.*
A responsible lender needs to be sure you can comfortably afford your monthly repayments before they make you a loan offer. You should be very wary of any lender who claims to provide a loan without a credit check.
Why apply for a loan online?
You can apply for a loan in person with a high street bank or lender; however, busy lives and work commitments often mean we don’t have the opportunity to visit a branch or office when we need a small loan.
If this is the case, applying for a loan online could be a solution, especially when an emergency happens and you need a quick cash loan.
- Convenience
You can apply online at a time that suits you; our online form is available 24 hours a day, 7 days a week. - Time
A number of the lenders on the CashLady panel could send your online loan to your bank account on the same day as your application is approved.** - Privacy
Manage your finances from the comfort of your own home.
How long does it take to apply for a loan online?
Here at CashLady, we understand that a financial emergency needs to be dealt with as soon as possible. That’s why our online form has been designed to be as straightforward and efficient as possible.
If you’re hoping to search for an online loan with CashLady, you can expect our form to take no longer than five minutes to complete. What’s more, we’ll let you know whether you’ve been matched with a lender in just 60 seconds.
Some of the lenders we work with can send your loan on the same day your application is approved. You should be aware, though, that the time it takes for the funds to become available in your account depends on your bank’s policies and procedures.
Can I search for a loan online if I have bad credit?
Yes, you can search for a bad credit loan online; however, it could be difficult to find a lender willing to consider your application if your credit score is particularly low.
As part of their decision-making process, lenders will look at how you’ve managed past borrowing commitments. As a responsible lender, they will want to be confident that you can afford your monthly repayments without experiencing financial difficulty.
Some of the lenders on our panel specialise in online loans for people with bad credit. When carrying out their creditworthiness assessment, they will take a look at your present financial circumstances as well as your credit history. This can be useful if you have recently shown better money management.
Before you apply for a bad credit loan online, please be aware that you could be offered a higher rate of interest. It’s important to understand how this will affect the cost of your monthly repayments.
Do I need a guarantor for an online loan?
A guarantor loan could be something to look into if you’re worried about your credit score.
None of the lenders on the CashLady panel provides guarantor loans. Instead, they offer short-term, no-guarantor online loans, which could be suitable for customers with low credit scores.
Is it safe to apply for a loan online?
When applying for a loan online, remember to always check that the lender is authorised and regulated by the Financial Conduct Authority (FCA). You can use the FCA’s Firm Checker tool here.
All of the lenders on the CashLady panel are authorised and regulated by the FCA.
What happens if I miss a repayment on my loan?
A late or missed repayment could result in you being charged a fee by your lender. Your credit score could also be negatively affected.
If you’re worried about making your next repayment on time, you should talk with your lender as soon as you can. They will want to work with you to help you manage your account.
If you feel you need some advice on any aspect of money and debt management, you can find free support online at Citizens Advice, National Debtline, and MoneyHelper.
CashLady has teamed up with charity StepChange to provide a Money Health Check Quiz. Taking the quiz is confidential, and the answers you provide will generate signposts to further help.
*A hard search will be visible on your credit file for up to 12 months. Multiple hard searches in a short space of time will damage your credit score.
Open Banking is a procedure sometimes carried out by an authorised third-party as part of a creditworthiness assessment. With your consent, Open Banking allows your chosen lender to view your online bank account and recent financial activity. This could provide them with a better understanding of your financial habits, rather than them making a decision based on your credit score alone.
**Every lender has their payout timescales. The time it takes for the money to become available in your account will depend on your bank’s policies and procedures.
