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Short Term Loans

Looking for a short term loans for a few months? If you need cash in an emergency, apply with CashLady today.

See your credit options with CashLady by filling a short online application form for short term loan of £100 to £2000 for 3-12 months.

Find out your loan options - Apply Now
A short term loan offers you the chance to borrow between £100 and £2,000

Representative example: Amount of credit: £1200 for 18 months at £90.46 per month. Total amount repayable of £1628.28 Interest: £428.28. Interest rate: 49.9% pa (variable). 49.9% APR Representative (Read more). We’re a fully regulated and authorised credit broker and not a lender.

Your no obligation quote and APR will be based on your personal circumstances - we compare small loans from over 40 lenders to get you the lowest APR possible for you. There are no fees for our service.

Warning: Late repayment can cause you serious money problems. For help, go to

What are short-term loans?

Short term loans are credit options that allow you to borrow for periods typically less than 12 months.

They are often similar to payday loans, in that most have a higher APR than personal loans available from high street lenders.

Loan terms typically range from 3 – 12 months, although some providers may allow you to borrow for up to 2 years.

Borrowers with a poor credit score may have a greater chance of being accepted.

Because of the interest rates associated with short term credit products, lenders often have a different attitude to risk and can afford to be more relaxed when it comes to underwriting.

Money is transferred quickly, sometimes on the same day, if the loan application is received and approved in time.

Getting short term loans online

Applying for a short term loan online is usually very straightforward.

Most lenders have an online loan application process, where you provide necessary personal details to evaluate your application for affordability and perform any formal identity checks/ credit searches.

In many cases, you will receive a decision the same day, with the money deposited into your bank account in as little as an hour (depending on your provider and their timescales).

When you apply for credit online you are usually required to set up an account and often require access to a mobile phone to confirm your account details by text message.

submitting a loan application online is usually quick and easy

If you would rather speak to a person before applying for your loan, you can look up the lender's website for their customer care details and telephone number.

Short term lending in the UK

The short term lending market in the UK has experienced a period of significant change over the last three years, largely down to strict lending rules enforced by the Financial Conduct Authority (FCA).

These new rules have brought many benefits to our customers, making short-term borrowing cheaper and more transparent.

There are also more diverse credit options, as lenders have evolved to meet the regulatory changes.

Many now offer a range of short term and longer termloans, which provide larger loan amounts over longer repayment periods.

Short term loans for bad credit

Short term loans for bad credit’ does not always mean a guaranteed loan approval.

UK Credit providers want to know that you can pay the money back in full and on the dates agreed.

Some lenders have unique underwriting processes allowing them to look at you as a person now, not the person you were a year or two ago.

Acceptance isn’t guaranteed but short term credit providers are generally more open-minded than traditional lenders.

a pretty man is writting on the desk while that stort-term credit lenders are more flexible and open-minded to a far from ideal credit score

Short term loan interest rates

Interest rates on short term loans are typically much higher than mainstream finance options (such as bank loans or credit cards).

Lenders take on greater risk when they provide a loan to someone with less than perfect credit and calculate the interest rate to help mitigate losses from customers that default.

Interest is charged daily, so the shorter the loan period, the less interest is due overall.

The Financial Conduct Authority (FCA) has also capped the amount of interest that can be charged on a short-term loan (above 99.9% APR) to just 0.8% per day.

This means you will normally repay around £24 for every £100 that you borrow for 30 days.

Advantages of short term loans

The main advantage of short term credit is the immediate access to funds when there is an urgent or unexpected cash emergency.

Many people take out short term finance to cover unexpected medical expenses (like dentists or opticians), bills that are higher than expected, funeral expenses, car or home repairs, or when the money they’re expecting doesn’t arrive on time.

These emergency expenses don’t usually require larger loans offered by big high street lenders, so a credit option like this can be a more convenient option.

Short term loans are also heavily regulated for your protection and lenders must comply with strict rules enforced by the FCA to ensure fair treatment of borrowers.

The regulations stipulate that:

  • Borrowers must pay no more than 0.8% per day in interest
  • Borrowers are charged no more than £15 in fines if they fail to pay back their loan on time
  • Borrowers will never pay more than twice the original debt
The advantages of short term loans

Common short term loan disadvantages

The disadvantages of short term loans

The disadvantages of short term loans are the higher rates of interest charged compared to mainstream personal credit products.

When entering into a short term loan agreement, make sure you understand the total cost of borrowing and then repay the funds as quickly as possible. The earlier that you repay, the less interest is due on the amount borrowed.

Consider whether this type of borrowing is the best solution for your personal and financial circumstances.

Short term loan repayments

Loan repayments work much the same as any other credit product.

When the loan commences you agree to repay the money on a specific date or over an agreed period, usually in monthly instalments.

This may provide a little more breathing space than with a payday loan, although the total cost of borrowing is likely to rise due to daily interest charges.

If you are struggling to repay your loan, then notify your lender about your situation as soon as possible.

an infographic showing how repayments work

They may provide financial advice or practical support, such as an extended repayment period.

There is often a fee of £15 for late repayment but, due to FCA regulations, this can be charged only once per loan.

Growth of Short term credit

Short term credit has grown considerably over the last ten years, and there are now many FCA regulated credit providers offering short term finance solutions to UK customers.

Previously, access to small loans was difficult and the choice was severely limited.

Borrowers had to either apply to big high street lenders where bad credit is rarely accepted, or to pawnbrokers, potentially giving up their treasured possessions in return for access to short term credit.

The market has now opened up to offer borrowers more choice, with developments in both technology and financial regulation providing a lending environment that is safe and convenient.

Short term loan applications with CashLady

With so many short term loan types and lenders available, it can be difficult to know where to start.

Applying through CashLady involves just one simple application. Using our technology means your application will be seen by our panel of regulated finance providers.

We use our in-depth knowledge of the market, and established relationships with reputable firms, to match your application with the lender most likely to help.

Once we have matched your loan application with a suitable lender, you will complete your application directly and have an opportunity to ask any additional questions.

a pretty lady is sitting on the sofa with a laptop trying to apply for a loan

Remember to check your paperwork thoroughly and ensure you fully understand the financial implications of any financial offer you may receive.


Short term loans can provide access to emergency funds, even if you have less than perfect credit.

We strongly recommend that you do your own research and checks before agreeing to any loan agreement.

a young lady sitting on the sofa and doing research on credit lenders

With so much information available at your fingertips, researching your options online has never been easier.

Developments in technology and underwriting processes can mean fast online applications and quick loan decisions are often made possible.

And remember, CashLady only work with FCA regulated lending partners for your safety.

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Representative 49.9% APR
Representative Example
Amount borrowed: £1200 for 18 months
Number of repayments: 18
Interest rate p/a: 49.9% (variable)
Each repayment amount: £90.46
Total amount repayable: £1628.28 is not a lender but is a fully regulated and authorised credit broker which introduces borrowers and lenders for the purposes of entering into short-term unsecured loan agreements. does not charge customers a fee for using its broker services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement with a lender or broker following an introduction through this website. is a registered Trading Name of Digitonomy Limited, Registered in England and Wales (Company number 08385135), Registered Office; Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, CH3 5AN. Digitonomy Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 690249. Licenced by the Information Commissioners Office, (registration number ZA007309) *Once approved, your cash could be sent within 10 minutes. The time that it takes for the cash to be received in your account will depend on your bank’s policies and procedures. Loans available to over-18s only, subject to status © 2019