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Update (April 2021):

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Payday Loans

Ferratum Money Loans | Reviews

Ferratum Money Loans

About Ferratum Money Loans

Ferratum’s global expansion has been impressive to witness with 23 markets now served and long term plans to hit 50 countries. This company was started in Helsinki, Finland, by Jorma Jokela in May 2005. They have generally spread out across Europe although they have started to expand further noting Brazil and Mexico. Collectively, the group serves 800,000+ active customers (+186k global Facebook fans). There has been a drop though since we can recall a 1.5m tally quoted some years back. The UK market has been served since 2010 when they started trading from Liverpool. Local progression has taken its time, but they are now considered as a major brand in the payday and instalment sectors.

The early focus at was to cater flexible short terms spanning between 7 and 37 days. They would later switch to instalments across 2 products, but the larger option (called PlusLoan) was discontinued. They now cater 1 to 4 months on amounts ranging from £50 to £700 for newcomers and £1000 max when reloaning. They do for reference also push business loans on their site (£50,000 max on a 18 month term). This lender has historically been strict with bad credit, but this has eased a little. They have for instance lowered the minimum age from 23 down to 18. Support is available during working days only, but existing customers can request funds 7/7.


Peachy Loans | Reviews

Peachy Loans

About Peachy Loans (Now Brokering Only = Further Details to Follow Soon)

Peachy’s first loan was issued in June 2011 (after being formed in 2010). Since arriving on the scene they have served over 2 million customers. Kristjan Novitski created this venture after moving on from TxtLoan (now MyJar) that he founded alongside others. This company had been the sole operation of Cash on Go until recently. Uploan was launched in 2019, but it didn’t appear that this project would ever see the light of the day (Uploan’s site had a coming soon notice back in 2014). Peachy’s service itself has took on a series changes over time. It has now morphed into one of the most flexible products around with any selectable month of 1 to 12.

Across this range all customers can select from £100 to £1000. Applications are processed through the vibrantly styled 7 days a week. This site usually floats just within the top 10 most visited of their catered sectors. Their profile has been boosted from strong search engine rankings and they have also advertised on TV. Social media has always worked well for them to build up customer loyalty. They have just under 30,000 fans on Facebook where they have lots of engagement on posts with various competitions often taking place. With pricing, you could receive a £5 promo discount (not available on the payday term, but this has now expired). Do note that any CCJ on your record (6 years) will see a decline.


Smart-Pig Loans | Reviews

Smart-Pig Loans

About Smart-Pig Loans

Smart-Pig was launched in early 2012 by Shreiff Benaziza and Tom Parks. This start-up was undertaken when each studied at university. It was a frustrating experience with a payday lender that would lead to the creation of their very own product. They opted to deliver this to students-only who must receive an income from NHS Bursary, SAAS or Student Finance. Going micro targeted like this would be seen as risky, yet the concept has worked very well for them with more than 50,000 students currently using the service. It is clear that they have managed to attract a very loyal fan base. This is evident from viewing Smart’s Facebook page that has attracted 30,000+ likes.

An impressive repayment range is set between 1 and 180 days. However, this term is based on your next student payment. The biggest feature of note is Smart’s own interest cap at 50% of the amount borrowed. This means that if you were to borrow £300 then the most that you’d pay is £150 that would be met on the 63rd day. Obviously, if your next payment is some time away then it is worth adding the extra time for free interest. The opportunity to settle early is always there. There are no late fees charged and they operate 7 days a week. Perhaps one gripe would be that they only lend out £350 max.


CashFloat Loans | Reviews

CashFloat Loans

About CashFloat Loans

CashFloat is the central lending arm of Western Circle Ltd that is also active in Spain (via as well as the UK. There is a cluster of other brands controlled by Western Circle. This has however remained quite a small financial group that has helped just over 40,000 people across their roster of sites. CashFloat’s popularity has been boosted considerably by their impressive search engine rankings that have been held for some time now. They are for instance ranked on the first page of Google for the major “Payday Loans” term that is impressive considering that they only launched back in 2014. In this particular sector they now in fact rank #1 as a result of key competitor closures.

CashFloat’s service does come with its limitations. The smallest loan sum that you can borrow is £200 that is quite a chunky amount for new applicants to repay with interest added. They are also only open during working days only. Terms do extend to 4 months here, but there are restrictions in place that are: £200-£250 (1-2m), £300 (1-3m), £350-£450 (2-3m), £500-£600 (2-4m), £650-£850 (3-4m) and £900+ (4m). Their 3 month price at £143.70 per £300 is quite competitive and they have historically been known for high acceptance rates. Their feedback on also scores well at 97% from more than 600 reviewers. From glancing over, praise is often directed at their customer support team.


Auden Loans | Reviews

Auden Loans

About Auden Loans

This company originally operated as Uberima from late 2014. They tended to fly under the radar making little impact and so opted to follow with a complete overhaul that would lead to the rebrand of Auden in 2017. The new name was catchy and the product was greatly enhanced with a much greater focus on flexibility. This Manchester-based for profit social enterprise is intent on delivering affordable credit to those underserved and overcharged. It is very much the case that their pricing is competitive. Unfortunately, until this day they just haven’t been able to catch fire that is evident from their Alexa ranking (they globally ranked at around 3.5m, but have now lost this).

Auden’s repayment flexibility is the best that we have seen on the market. For short term lending you can opt to repay between 7 and 30 days. Then there is the option to choose between 2 and 12 months. A handy bonus is that you can repay either monthly or weekly (this impacts pricing). Their payday charge is £38.40 per £200 that would translate as £19.20 per £100 if that was available (£200 is minimum). This ranks as the 4th cheapest short term bad credit deal. Their £102.09 charge for £300 at 13w is the 5th cheapest for subprime. Just how well this service is functioning is unclear, since there are no listings on any external review sites.


Cash Asap Loans | Reviews

Cash Asap Loans

About Cash Asap Loans

Cash Asap is one of the best developed short term loan products on the market. They have however tended to fly under the radar due to minimal advertising on their part. This has been the sole lending arm of Apfin Ltd active since 2012. The owner also runs a broker site called Clear and Fair. Apfin has very much modelled Asap on the now defunct past market leader Wonga. As was the case there, flexible short terms enable any day to be selected within the month (they even extend to 35 days). There is also a fixed 3 month option. They haven’t opted to add 6 months that was added before Wonga’s closure.

This lender is open every day of the week and it’s a nice touch to see them just edge out the payday cap (even if this calculates at just by a few pence lower). There was a promotion called #PriceCheck that has been taken down now. What happened here was if they declined you, but you got funded elsewhere on the same day then they’d pay out the loan cost. They did also offer very small £20 loans that was handy over shorter borrowing periods. Unfortunately, they raised this to £50 and then more recently to £100. Whilst being one of the smaller lenders, they have managed to attract over 1300 reviews on Trustpilot (scoring at 88%).


Drafty Loans | Reviews

Drafty Loans

About Drafty Loans

Drafty is part of Gain Credit (formerly Global Analytics) who are more well known for their Lending Stream brand that provides fixed 6 month loans. Whilst Stream lacks flexibility, this isn’t the case with the impressive line of credit facility packaged together here. This project was tested throughout 2015 and the full launch would follow in summer 2016. It is clear that they were greatly inspired by the early traction of SafetyNet who opened with this concept in the UK back in 2014. Drafty’s service is competitively priced with high sums available making this a worthy overdraft alternative. It is however prime specialised and you’ll need to be earning at least £1250 monthly.

The low interest rate is the standout quality in place here. This fixed rate comes in low at 0.18% daily that creates highly competitive short term and instalment term prices. The value does slip as you head close to a year and so shorter borrowing is advised. Drafty’s growth has been improving consistently. In the various niches competed in, they usually rank between the top 5 and 10 spots for Alexa ranks. This is notable, but you’d perhaps expect more investment from the owner who pours plenty into Lending Stream. Drafty’s support team is available 7 days a week and existing customers have access to funds 24/7. This pot can be £3000 max (new) or £5000 (return).


Fernovo Loans | Reviews

Fernovo Loans

About Fernovo Loans

Fernovo was launched not too long back in 2017. The owner had already been trading through the Quidie Online Lending brand since 2015. This older company has recently been closed. All visits there at ( will quickly redirect you across. The key difference between the pair was that Quidie’s product started from 2 months onwards, whereas you can opt for a payday loan here. This is important as it is at this term where they are highly competitive. With interest at just 0.5% daily this means that a £100 monthly loan costs just £15. This is a notable improvement on the FCA’s cap of 0.8% (£24) that is what many lenders opt to stick exactly on.

Fernovo’s 3 month charge at £92.85 for £300 is the 3rd best subprime deal available. Their 6 month charge is competitive, yet doesn’t hit the top 5. This lender has valued expertise in technology that has lead to their NOVOQuote decision engine to deliver rapid responses. Whilst the opening hours are restricted between working day hours of 9am to 6pm, it is listed that their underwriting team operates 7 days a week between 9am and 9pm that is good to see. Due to the freshness and lack of web popularity this firm hasn’t attracted any feedback on review sites that just makes it tricky to determine how well their service is being received on the market.


Tappily Loans | Reviews

Tappily Loans

About Tappily Loans

Tappily was launched by Indigo Michael in 2017 to compliment the successful SafetyNet Credit brand. Tappily’s service is structured the same as a revolving credit facility. The key difference is that the interest rate is lower (0.34% daily vs 0.8%). The loan amounts are also higher at £100 to £2500 vs SNC’s £100 to £500 (£1000 reloan). A further minor difference is that the interest cap is longer at 75 days vs 40 days. This cap isn’t however important to factor in since repayments are taken at payday. You can instantly reloan, but this would trigger a new contract and so you’d never reach the cap unless you weren’t receiving a pay packet or having £50 paid in.

The rollout of this revolving prime product made sense in order for the owner to compete more against overdrafts and leading payday loans. At the same time, there has been mounting pressure from Drafty who have been attempting the same thing. Tappily’s early sector growth was very slow. It did seem that they weren’t attracting many visitors at all, but then across 2019 their Alexa rank spiked and continued to progress and they also started to attract more reviews on Trustpilot. Don’t forget that as with the case at SafetyNet, you’ll have access to your money pot 24/7 and will have the same protection built in to protect you from banking fees.


SafetyNet Loans | Reviews

SafetyNet Loans

About SafetyNet Loans

Firstly, this lender has recently rebranded to SafetyNet although they have kept the Credit name in their new URL of (was This is a company that has shown great innovation in short term lending in a similar fashion as seen with Wonga. They clearly haven’t imitated Wonga’s trajectory in becoming a household name, but to be fair they haven’t poured their profits into TV ad campaigning and sponsorships. More natural growth has been seen here, but they have attracted close to 500,000 customers. SafetyNet’s owner (Indigo Michael Ltd) started out life in 2012 through the launch of ClearAccount. SafetyNet’s launch followed in 2014, whilst ClearAccount became a financial tool and ended up being sold on. A further project (Tappily) was rolled out in 2017. This is a prime alternative delivering higher sums and lower interest.

As a credit line facility, you’ll be granted access to your determined limit 24/7. There is no need to reapply, you can instantly request more money when needed and repay across any short term. Whilst £100 is the minimum limit, once approved you can advance from just £20 inwards (moving £1 upwards). Overdraft protection is also built in to protect from excessive bank fees. There is an interest cap of 40 days that is handy if you lose your job, but repayments are taken when you’re paid that overrides this. Do note that online banking usage is required for all applicants. The lender is only permitted with read-only access that must be renewed every 90 days.


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