Small Loans from £100
What Are Small Loans?
Like most people, you can sometimes find yourself a little short of cash. Maybe you need an extra £50 for petrol or are short for an unexpected bill, whatever the reason the last thing you want to do is borrow a large sum of money when a small amount is all you need. Small loans come in handy for everybody from time to time and there can be numerous reasons why you may need one but typically they will be under £500.
Lenders that provide a small loan service will normally offer the service to individuals only, although someone who is self-employed may make use of this service as well. An example is Mary still has two weeks before she is pad but needs to borrow a £100 for a new car
Small Loans from Money Trumpet
- Borrow from £100
- Decision in minutes
- Compare hundreds of small loans
- Simple online application
- Apply 24 hours per day
- No hidden fees
Ways to Apply
You can apply using any device that can connect to the internet such as your mobile phone or iPad, whether you’re at home, work or even out shopping. The process to apply for a little loan is very straight forward and takes around 2 minutes. We just need some details of your current situation such as employment and outgoings and you will usually have a decision in a few minutes from a direct lender. There are no fees and if successful the money is usually paid into your bank the same day.
What can small loans be used for?
Whether you apply for a £100 loan or a £500 loan you can use the money on whatever you want. Some uses could be a car repair bill, to bridge the gap between months, pay for your child’s school trip, in fact absolutely anything. Always make sure you able to repay the loan comfortably. Responsible lending and borrowing is the key here.
Do I qualify?
It really depends on your previous history, if you are struggling to get a mainstream loan you may need to consider looking at bad credit borrowing. You should also be in employment with a regular income and make sure you can comfortably repay any money borrowed. Lots of things are taken into account when applying for a small loan and its difficult to say what the decision will be until you apply. Your application profile will be matched to a large list of Financial Conduct Authority (FCA) approved lenders to find the most suitable loan for your situation and criteria.
Will applying to borrow a lower amount affect my credit file?
Any borrowing of any kind whether that be a loan, credit card or any other personal finance agreement will always be documented on one of the main credit reference agencies. So regardless of whether you borrow £100 or
Alternatives to consider
As a general rule, small loans are under £500, so it may be worthwhile exploring other ways to raise the money first before deciding to visit an online lender or broker. Asking a friend or family member may be an option, and some employers offer advances on salary. This is something you will need to approach your employer about, and although some offer this they may not be keen on employees taking advances on a regular basis.