Money problems rarely come when it is easy for you. It can be a surprise fix, an urgent home cost, or waiting a few days until your next paycheck. Many people now look at online borrowing when they need help for a short time.
The main advantage of digital lending is that it is easy to use. Still, borrowers should check costs, repayment terms, eligibility rules, and lender details before picking one. The following five providers are good to look into when comparing the UK short-term lending market.
1. Swift Money: Convenient Access to Multiple Lending Options
Swift Money uses a way that lets you see and check different short-term money options side by side. You can look at what might work for you by filling out one online form. This helps people who do not want to talk to each lender one by one. It is a good choice for those who want to see their offers on the internet.
For people who want a payday Loans when they need money fast, it helps to fill out the first form online. This makes the process easier. Swift Money uses a system that shows applicants the choices they have before they pick what to do next.
Why It Stands Out
- Online application process
- A service that helps you compare
- First, check if you can apply
- You get many ways to borrow money
2. WageDayAdvance: A Broad Comparison Platform
WageDayAdvance acts as a credit broker and not as a lender. Its platform lets you send one application, and you may get offers from lenders it works with. The company says you can borrow between £100 and £5,000. You can pick terms from one month up to 36 months.
This way can help people who want to look at offers without filling out forms on many sites. It lets you compare deals without doing different steps on each website.
What Makes It Different
The platform works on lender matching. It lets people see terms before they decide if they want to take an offer.
3. Cashfloat: Strong Emphasis on Fast Funding
Cashfloat is a direct lender. The company gives short-term loans online. The website says that 95% of loans that get approved are sent out on the same day. This depends on approval and the lender’s final checks.
The provider now gives loans that go from £300 up to £1,500. You can pay it back in three to nine monthly payments. The provider also uses a soft credit check at first to see if you qualify.
Why Borrowers May Consider It
Cashfloat can be a good choice for people who care most about getting money fast and want to deal with a direct lender.
4. Moneyboat: Flexible Instalment Structure
Moneyboat gives short-term loans. You can pay them back in two to six parts. You can borrow from £200 to £1,500. The amount you get depends on your situation and if you can pay back.
Unlike borrowing, where you must pay back all the money right away, this instalment plan lets you pay over a longer time. So, people can have more time to pay what they owe.
Key Differentiator
Moneyboat’s way is to let you pay back what you owe in set amounts. You can get the money fast once you finish all the needed checks.
5. CashASAP: Another Short-Term Credit Option
CashASAP is another company that people can look at when they want to check short-term credit services. The latest information says you can borrow from £200. If you are a first-time customer, you may have a lower limit. The time you get to pay back is spread out over several months.
The online model makes it easier to research who can borrow and what is available. This is good for people who like to handle their money stuff online.
What to Compare
Applicants need to look at the total repayment. Do not just think about the amount you can get or how fast you get the money.
Choosing Between the Five Providers
The best choice depends on the borrower’s situation and the rules given after they check if you can get the loan and pay it back. When you look at payday loan lenders, you should do more than just check what they say about how fast you get your money.
| Provider | Main Approach | Notable Feature |
| Swift Money | Credit comparison | Multiple potential lending options |
| WageDayAdvance | Broker | Lender matching |
| Cashfloat | Direct lender | Same-day funding focus |
| Moneyboat | Direct lender | Instalment repayments |
| CashASAP | Short-term lender | Online borrowing options |
What Should You Check Before Applying?
Emergency borrowing can help fix a short-term cash problem. But it can cost more if you have trouble paying back. Before you apply, look at the APR, total amount you need to pay back, how often you need to pay, and what happens if you miss a payment.
It is important to know the difference between a broker and a direct lender. A broker helps people find offers, and the lender decides if they will give you credit.
Quick Checklist
- Look at the full cost to pay it back.
- See how long you have to pay it back.
- Find out what you need to be able to use it.
- Make sure the provider is regulated.
- Try other options that cost less first.
FAQs
Are online loans suitable for emergencies?
They might offer a quick fix for people who can get the loan. But it is important to check if you can pay it back before you get more credit.
Can online applications be completed quickly?
Many providers give digital apps. But the time to get approval and money is not the same for everyone. It depends on each case and the lender’s checks.
Is a broker the same as a lender?
No. A broker helps people look at and get different loan offers. A direct lender gives you the actual loan.
What is the most important factor to compare?
Look at the total amount repayable and not just the loan amount they show or how fast you can get the money.
Final Thoughts
Online lending lets you look for short-term loans fast. It helps when you need help with costs you did not expect, and there is not enough money for a while. The five providers above each use a different method. Some offer tools to help you match choices, some lend to you, and some have ways to pay back that fit your needs.
If you want to look at more than one deal online, Swift Money lets you see different offers side by side. When you think about any short-term loan, focus on whether you can pay it back, how much it will cost you, and what the repayment rules are. Don’t pick a deal only because it is fast.
This post may contain affiliate links.
More Recommended Ebike/Scooters
Check out these other ebikes and scooters I've reviewed:
- Urban Arrow Ebike – Last year, I made one of the largest purchases I’ve ever made – I bought a $9,000 electric cargo bike from Urban Arrow. In my Urban Arrow review, I will discuss what it is and why I decided to buy this bike, as well as discuss how impactful a bike like this can be on your journey to financial independence.
- Troxus Explorer Step-Thru Ebike – The Troxus Explorer Step-Thru is a fat-tire ebike that I’ve had the pleasure of riding for a while now. It has amazing power, great looks, and awesome range. If you’re looking for a great fat-tire ebike that offers a lot for the price, the Troxus Explorer Step-Thru is definitely one for you to consider. Check out my Troxus Explorer Step-Thru Review.
- Hovsco HovBeta Ebike – The HovBeta is a folding ebike with great specs and a lot of interesting features, and importantly, it’s sold at a good price point. I’ve had a blast commuting with it and using it to do deliveries with DoorDash, Uber Eats, and Grubhub. Check out my Hovsco HovBeta Ebike Review.
- Vanpowers Manidae Ebike – The Vanpowers Manidae is a fat tire ebike that I’ve been riding as my primary winter commuting bike and have also been using it to do food delivery with apps like DoorDash, Uber Eats, and Grubhub. After clocking in a decent number of miles with this ebike, I wanted to write a post sharing what my experience with the Vanpowers Manidae ebike has been like. Check out my Vanpowers Manidae Review.
- Sohamo S3 Step-Thru Folding EBike Review – A Great Value Folding Ebike – The Sohamo S3 Step-Thru Folding Ebike is an entry-level folding ebike that offers a lot of value for the price point. I’ve been riding the Sohamo S3 for a while now, putting the bike through its paces, and I have to say, this bike has exceeded all of my expectations. Check out my Sohamo Review.
- KBO Flip Ebike – The KBO Flip is an excellent bike. I’ve had a great time riding it and think it’s a versatile bike that can be used for a lot of purposes and can fit a variety of lifestyles. It’s worked out great for me as a general commuter bike and as a food delivery bike. Check out my KBO Flip Review.
- Hiboy P7 Commuter Ebike – The Hiboy P7 is an excellent electric commuter bike that’s offered at an affordable price point. The range and speed of this bike are both very good, so you won’t have any trouble getting anywhere you need to go with it. As a food delivery vehicle, this is also good – with how much range it offers, you’ll be able to work all day on a single charge. Check out my Hiboy P7 Commuter Electric Bike Review.
- Himiway Escape Ebike – The Himiway Escape is an interesting bike for anyone looking for a moped-style ebike. If you’re a gig economy worker, the Himiway Escape is particularly interesting and it’s possible to think of it as an investment, especially if you can opt to do deliveries with the Himiway versus using a car. It’s not cheap, but you can definitely make your money back when you compare the mileage you’ll put on your car versus using an ebike. Check out my Himiway Escape Bike Review.
- Espin Sport Ebike – The Espin Sport is a good ebike for someone who is looking for an ebike that feels and rides more like a regular bike. There are many ebikes that are really only bikes in name. In reality, they’re basically electric mopeds. The Espin Sport, by contrast, is a bike you could probably ride without the battery and you’d feel like you’re just riding a regular bike. Check out my Espin Sport Review.
- Varla Eagle One Scooter – The Varla Eagle One is an excellent scooter that can make sense for a lot of people. It can work as a primary mode of transportation. You can use it to work on gig economy apps like DoorDash, Uber Eats, and Grubhub. And it can also be a recreational vehicle if you’d prefer to use it for that. Check out my Varla Eagle One Review.
- Varla Falcon Scooter – The Varla Falcon is an excellent scooter that offers a good amount of power at a lower price point compared to more powerful scooters. It’s not exactly an entry-level scooter, nor is it a high-powered scooter. I think it fits somewhere in-between those two categories – an intermediate scooter if I had to give it a category. Check out my Varla Falcon Review.
- Hiboy S2 Scooter – The Hiboy S2 is an excellent entry-level commuter scooter that's perfect for someone looking to save some money in transportation costs and improve their commute. Check out my Hiboy S2 Review.
- Hiboy S2R Scooter – The Hiboy S2R is one of the more interesting electric scooters I’ve been able to test out. It’s not a high-powered scooter, but for an everyday transport option, it’s very useful, especially given some of the unique features that it has. Indeed, for the price, the Hiboy S2R might be the best value scooter I’ve used. Check out my Hiboy S2R Review.
- Fucare H3 Scooter – The Fucare H3 is a fun scooter and I’ve enjoyed testing it out. For a daily commuter or quick trips or errands, the Fucare H3 is probably the scooter I’ll use. It’s portable and easy to maneuver, so it’s just easier to take on the road when I need it. Check out my Fucare H3 Scooter Review.
More Recommended Investing App Bonuses
For additional investing app bonuses, be sure to check out the ones below:
- M1 Finance ($75) – This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $75 for opening an account. Check out my M1 Finance Referral Bonus – Step-By-Step Guide.
- SoFi Invest ($25) – SoFi Invest is an easy brokerage account bonus that you can earn with just a few minutes of work. Use my SoFi Invest referral link, fund your SoFi Invest brokerage account with just $10 and you’ll get $25 of free stock. I also have a step-by-step guide for the SoFi Invest referral bonus.
- Robinhood (1 free stock) – Robinhood gives you a free stock valued between $2.50-$225 if you open an account using my referral link.
- Public (1 free stock) - Public gives you a free stock valued between $3-$70 if you open an account using my referral link.
More Recommended Bank Account Bonuses
If you’re looking for more easy bank bonuses, check out the below options. These bonuses are all easy to earn and have no fees or minimum balance requirements to worry about.
- Ally Bank ($100) – Of all the banks out there, Ally is, without a doubt, my favorite. At the moment, Ally is offering $100 to customers who open an eligible Ally account and meet the requirements. Here are the step-by-step directions to earn your Ally Bank referral bonus.
- Chime ($100) - Chime is a free bank account that offers a referral bonus if you use a referral link and complete a direct deposit of $200 or more. In practice, any ACH transfer into this account triggers the bonus. This bonus is easy to earn and posts instantly, so you’ll know if you met the requirements as soon as you move money into the account. I wrote a step-by-step guide on how to earn your Chime referral bonus that I recommend you check out.
- US Bank Business ($400/$1200) – This is a fairly easy bank bonus to earn, since there are no direct deposit requirements. In addition, you can open the Silver Business Checking account, which comes with no monthly fees. Check out how to earn this big bonus here.
- Current ($50) – Current is a free fintech bank that’s offering new users a $50 referral bonus after signing up for an account using a referral link. Current is an easy bonus to earn and also gives you access to three savings accounts that pay you 4% interest on up to $2,000. That means you can put away up to $6,000 earning 4% interest. That’s very good and makes Current an account I recommend to everyone. Check out my step-by-step guide on how to earn your Current Bank bonus.
- Novo Bank ($40) - Novo bank is a free business checking account that’s currently offering a $40 bonus if you open a Novo business checking account using a referral link. In addition to being a good bank bonus, Novo is also a good business checking account. It has no monthly fees or minimum balance requirements and operates a good app and website. Indeed, it’s the business checking account I currently use for this blog. Check out my post on how to easily open a Novo account.
- Varo ($25) – Varo is a free fintech banking app similar to Chime or Current. It’s currently offering a $25 bonus to new users that open a new Varo account with a referral link. The bonus for this bank is very easy to meet, all you need to do is spend $20 within 30 days of opening your Varo account. Check out my step-by-step guide to learn how to earn this bonus.
Kevin is an attorney and the blogger behind Financial Panther, a blog about personal finance, travel hacking, and side hustling using the gig economy. He paid off $87,000 worth of student loans in just 2.5 years by choosing not to live like a big shot lawyer.
Kevin is passionate about earning money using the gig economy and you can see all the ways he makes extra income every month in his side hustle reports.
Kevin is also big on using the latest fintech apps to improve his finances. Some of Kevin's favorite fintech apps include:
- SoFi Money. A really good checking account with absolutely no fees. You'll get a $25 referral bonus if you open a SoFi Money account with a referral link, and an additional $300 if you complete a direct deposit.
- 5% Savings Accounts. I'm currently getting 5.24% interest on my savings through a company called Raisin. Opening a Raisin account takes minutes to complete, it's free, and all of your funds are FDIC-insured. I explain how it works, why I'm now using it to store my emergency fund and any other cash savings I have, and why I recommend everyone check it out in this review.
- US Bank Business. US Bank is currently offering new business customers a $400/$1200 signup bonus after opening a new account and meeting certain requirements.
- M1 Finance. This is a great robo-advisor that has no fees and allows you to create a customized portfolio based on your risk tolerance. You also get $75 for opening an account.
- Empower. One of best free apps you can use to monitor your portfolio and track your net worth. This is one of the apps I use to track my financial accounts.
Feel free to send Kevin a message here.
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