Small loans

Small loans are simply loans for relatively modest sums of money – usually no more than a few hundred pounds and often as little as £100.

How can a small personal loan help?

Small personal loans are designed to help people plug a gap in their finances until payday or a few months after that.

If you are looking for a loan up to £500, then small loans potentially offer a way for you to borrow money quickly and easily compared to using a bank or other traditional lender. This is because you can access small loans online, where the whole application, decision and approval process is streamlined — so you can get an almost immediate answer.

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Are payday loans the same as small loans?

Small personal loans may, in some cases, also be known as payday loans. This is because you borrow money for a short time and typically repay it on your next payday — or a few paydays after that.

So, if you have a financial emergency and you need cash fast, but your next payday is several days’ or even weeks’ off, a small payday loan may be suitable for plugging the gap in your finances.

In short, you get the money you need and when you need it.

You choose how long you would like to borrow the money for, meaning you can repay it, together with interest, over a time period that is suitable for you. You may prefer to repay it all on your next payday, so you don't have to worry about the loan anymore, or repay it over a few months — the choice is yours.

Benefits of small online loans

Depending on your financial situation, small personal loans may offer you benefits such as:

  • instant cash when you are faced with a financial emergency and payday is still a way off
  • an easy application process and a quick decision
  • repayment terms from 1–12 months (up to 24 months for more substantial loans)
  • the money being transferred into your nominated bank account within an hour of your loan application being approved (this may vary depending on the lender)
  • borrow just the amount of money you need — in little £100 increments.

Plus, if you have a less than perfect credit file, small loans for poor credit are available

Are small loans for bad credit really available?

Yes, they are! If you have poor credit, that isn’t necessarily a showstopper for getting payday loans. There are specialist providers of small loans for people with bad credit who can help.

They understand that sometimes you can make mistakes with your finances and are sympathetic to this.

You should note, however, that in some cases, you may be offered a slightly smaller sum of money than you applied for, or you may be asked for a guarantor.

And, of course, as a responsible provider, we and any other provider do reserve the right to decline any loan application if we feel it is not appropriate for you.

How much do small loans cost?

The cost of your small loan will depend on how much you borrow; how long you want to borrow money for; and, what lender you are matched with. Also, if you are applying for small loans with bad credit, in some – but not all - cases you may find that you pay a bit more in interest as the lender is taking on more of a risk due to your credit history.

To get an idea of how much do small loans cost, check out the pages below.

Popular small loan amounts

Small loans from Instant Lolly

Are you looking for small loans online because you want something that’s quick and easy to apply for? Then we think you’ll love Instant Lolly.

Flexible borrowing — choose from a large range of short-term and payday loans.

Flexible borrowing

Choose the ideal loan amount and repayment term for your needs. We offer loans from £100 to £3000 over 1 to 24 months.

High acceptance — great approval rates for people with good and bad credit.

High acceptance

Simply fill out our short form and we'll ensure your application reaches all the right lenders for the best chance of approval.

Fast funding — loans with quick decisions and speedy money transfers.

Fast funding

We'll give you a decision in seconds, and you could get money sent to your bank as soon as 15 minutes after approval.

Online convenience — access the best UK direct lenders in one place.

Online convenience

Apply securely online 24 hours a day, seven days a week — via mobile, desktop or tablet. Oh, and it's totally FREE too!

How Instant Lolly can help with small loans

At Instant Lolly, we work with specialist lenders to find you what we believe is the most appropriate small loan solution for your own unique circumstances. You simply tell us how much money you would like to borrow and over how many months, plus a bit about yourself. We will then go off and match you to the most suitable product and lender.

Small loans direct lenders

We work with over 50 small loan direct lenders in the UK to find you the most appropriate payday loan, saving you lots of time and legwork.

Of course, you could go to each loan company yourself, but we can do this a lot quicker than you and won’t even charge you a fee!

Quick small loans

We pride ourselves on finding our customers the most suitable fast, small loans, backed up with a professional, first-class service. So, if you are looking to borrow a small amount of money, why not apply now to see how we can help?

Ready for a little help?Get up to £3,000 within 15 minutes of approval

(It won't affect your credit score)
IMPORTANT INFORMATION

If you do not make your minimum repayment by the agreed upon due date, you may incur additional charges and penalties. If you are having problems paying, please call your credit provider. For other sources of assistance, visit www.mymoneysteps.org; call the Step Change Debt Charity on 0800 138 1111; or National Debtline on 0808 808 4000; or visit moneyadviceservice.org.uk; or visit your local Citizens Advice Bureau.

Loan approval: All loan offers are subject to lender final approval. Approval/transfer times vary by lender. Not all lenders may be able to transfer funds in 15 minutes. Approvals/transfers may take longer for applications processed outside normal working hours. If your bank does not support faster payments, it may take longer for funds to reach your account.

Credit checks: When assessing your eligibility for a loan, lenders will carry out a soft search; only you can see them on your credit report and they have no impact on your credit rating. If you accept a lender's loan offer, they will perform a hard credit search, which will be visible to any company searching your credit report for 12 months.