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Smart-Pig Loans | www.smart-pig.com Reviews

Smart-Pig Loans


Smart-Pig was launched in early 2012 by Shreiff Benaziza and Tom Parks. Start-up occurred during the time that they were studying at university. They became inspired to develop their own student-only service after a bad previous experience with a payday lender. Qualification is strictly open to those who receive an income from NHS Bursary, SAAS or Student Finance. This kind of exclusivity could be seen as a limiting factor, but this brand has certainly proved the doubters wrong. Recent Alexa traffic data shows that they are top 5 ranked for payday firms and top 10 for instalment firms. They are even edging out such heavy hitters as Satsuma Loans and WageDayAdvance.


Brand: Smart-Pig (aka: SmartPig, Smart Pig).
Company: FCL Consumer Finance Ltd.
Founder: Shreiff Benaziza, Tom Parks.
Launched: 2012.
Licence: 671696.
Offers: Instalment, payday, short term (flexible).
Opening Hours: Monday to Friday (9am-7pm), Saturday to Sunday (10am-6pm).
Other Projects: Non.
Web: www.smart-pig.com.


Address: 34 Warwick House, Clarendon Street, Leamington Spa, CV32 4PG.
Email: team@smart-pig.com.
Phone: 0203 507 1930.


Alexa Rank (Local): #20,122.
Facebook Page: 30,900+


£5.60 /£100 (7d).
£24 /£100 (30d).
£150 /£300 (3m).
£150 /£300 (6m).


Amounts: £50 to £350 (new applicants).
Amounts: As above (when reloaning).
Amount Selections: £50 increments.
Late Payment Fee: ? (after 10 days).
Terms: 1 to 180 days.

*The late payment fee amount is unclear. An email has been sent asking for clarification. The loan repayment is aligned with your next student loan payment (or before).

Service Pros…

A standout feature is Smart’s interest cap. This is set at 50% of the amount borrowed and so for £300 the max charge is set at £150 for both 3 and 6 months. An added bonus on the flexibility side is the ability to choose the repayment in daily increments from 1 day onwards. When problems occur it is good to see that they have a grace period of 10 days. They were likely inspired from Wonga who do this (but for 3 days). It is clear that brand loyalty has been earned with 50,000+ customers total of which 30,900+ are connected via Facebook. Smart’s Feefo feedback is also notable. From close to 450 reviews, 83% are 5 star rated and 13% are 4 star rated that makes up 96%.

Service Cons…

There are a few things that could be enhanced. The potential level of funding is very low at £350. You’d expect those with trust earned to be able to head up to £1000 or so. The selectable amounts could also be made available in smaller increments than those chunky £50s. The short term pricing isn’t also improved on the mainstream payday firms at 0.8% daily. Exclusivity helps them to stand out, but there is no coverage for those outside of studying. Linking out to a partner could be a suggestion. There have been plans to launch their own alternative service. As it stands today, the only other active project on their FCA page is Synced. This is a digital banking product and so it is unclear if any kind of borrowing facility will be integrated.

Similar Lenders Like Smart-Pig…

There are no other dedicated providers of student payday loans and so you’d need to look elsewhere for a worthy alternative. There are plenty of these that could be suggested. We’d however recommend SafetyNet Credit above all. A common link between the pair is that each have composed their own interest caps. SafetyNet’s works out cheaper since they stop charging 0.8% after 40 days has been reached. This means that for £300 borrowed over either 3 or 6 months that you’ll pay £96 max (an improvement on £150). This flexible line of credit enables you to choose the term and funding can also be requested 24/7. Their overdraft protection is a further notable feature.

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