Charges explained

All loans and financial services offered to the public are closely monitored and strictly regulated in order to eliminate the risk of illegal or unfair practice. Even though exactly the same is true for loans online, they still carry something of a stigma with regard to their fees, usually as a result of misunderstanding or ignorance.

Brass knuckles

Payday loan companies are businesses, meaning their services inherently carry charges in order to fund their existence. The old moral panics and folk devils can be left in the past with the help of a little deeper investigation and open-mindedness.

Some providers require a small set-up or admin fee just to get the ball rolling, we don’t agree with this and you will find that we do not charge a fee for our services*. Even if you’ve been a loyal customer for years, ask your bank for an additional product or service which will no doubt prove costly enough and you’ll always be lumbered with an extra bill for your trouble. Furthermore, these costs are far from cheap.

payday loan rolloverThe truth about roll-overs

One of the main things which puts people off the idea of a short term loan is the abundance of horror stories regarding extortionate interest rates resulting in the borrower unable to pay the money back, short of knocking off a bank or two. Sadly, such stories are more in tune with backstreet loan sharks of old and have little or nothing to do with the modern lender who simply bears the brunt of the false accusations and assault to their reputation.

Agreed, the APR attached to payday loans is much higher than that of a standard High Street loan, but it is not designed to be drawn out over any longer than a few weeks to a month, certainly not years. With this in mind, the two figures simply cannot be compared as their agreed repayment periods are so different, vastly affecting the final figures. Regulation dictates that APR figures are displayed in reference to a full year, which is why the interest rates representing the charges for these loans are often misconstrued as excessively large.

Online loans as a real alternative

Quite simply, if a the loan is paid back in accordance with the terms agreed by both lender and borrower in plain and simple terms, the interest paid is quite low and a far cheaper alternative to overdraft charges and other everyday banking fees. Payday loans for self-employed people offer this service as an alternative for excessive and most times unnecessary bank charges,

It is also worth bearing in mind that the unsecured lending of money to borrowers with poor credit and from all imaginable backgrounds carries a degree of risk, especially for small, independent firms who do not have the security of endless wealth and worldwide status. Instead it is necessary to impose higher interest rates, therefore encouraging the borrower to fulfil their terms and produce punctual payment. Anything else could prove financial suicide for the business. Or the flip-side these payday lenders are making a lot of money from these borrowers’, but again it would be a case of risk vs. reward.

That really is all there is to it a competitive interest rate and clear repayment terms. Often cheaper than a bank and with the iron-clad promise of no hidden surprises. It may take a while before the real hard-liners are convinced that these loans are a viable source of emergency funding, but they at least deserve the privilege of a second thought from the rest of us.

Why our loans are different

The short term loans we offer are designed to be a fast solution when you need just a small sum of cash immediately. Typically short term loans and the process that goes along with it means that borrower’s are asked for all types of verification on the details they provide and most times some type of guarantee in the form of a guarantor or security.

Even if security is not asked for, normal loans are not usually approved online. They can often involve scrutiny of your current finances, providing proof of the details you have provided and several meetings. This means that if you are in need of immediate cash they are a redundant option as they can often drag on for weeks – this is before you even receive a decision.

With our payday lenders there is;

  • No faxing of documents, meaning no paperwork – the application is done purely online*
  • Quick approval and funding straight to your UK bank account in under 1 hour*
  • No hidden fees and no phone calls



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