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Once we’ve found you a loan, then you can apply with the lender directly. They may require some additional information and documentation.

This two-step process is the quickest way to find out if you are eligible and it ensures that you get the loan you want. When you first fill out that application form on our page, we ask you what kind of loan you are hoping to get.

We want to know a few specifics about the loan so that we can connect you to the best lenders for your situation. Not all of our lenders offer the same loans, so it’s important to filter through them to find the most appropriate choice.
Now, let’s answer a few quick questions you may have about the lending process and how it works here.

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Acceptable Loans

When you need extra cash and you cannot borrower from a friend or family member, a loan is your best option. However, choosing the right loan for your personal circumstances can be challenging because there are many types of loans.

It is crucial that you understand all the facts about loans first before you jump into getting one. You must first be certain what you need the money for, how much you need, how much you can afford to borrow, and for how long will you have to pay it back.

With the many types of loans in the market, you want to know which loans are acceptable loans. Acceptable loans means they are safe and that they have interest rate and fees that are reasonable. In other words, acceptable loans are legal and abide to the law.

Acceptable Loans Options

Short-term Loans

If you need some cash to cover an emergency cost, you can get a short-term loan. Acceptable loans that are short-term can be anywhere from £100 to £1,000, and are payable over one to twelve months. There are many types of short-term loans from payday loans, doorstep loans, to personal unsecured loans.

However, note that most short-term loans have high interest rate because they are unsecured type of credit. Most of these short-term loans are also targeted for those with bad credit, so the risk is higher. Acceptable loans for this segment are those from licensed lenders. Authorised lenders follow the law mandated by FCA. This way, you can be assured that the rates and interest are capped, making sure you are not paying more than you are supposed to.

why get acceptable loans

Long-term Loans

If you need a larger amount of money, then a long-term loan is what suits your situation. You can use it to make a big purchase such as a property or vehicle, or perhaps use it for home renovations or pay off college. Acceptable loans that are long-term can be up to £35,000 that are payable over three to seven years, depending on the lender. Acceptable loans that are long-term in nature are usually secured loans.

Secured Loans

Secured loans use a valuable asset to secure the loan, as opposed to an unsecured loan that is only based on your creditworthiness. Acceptable loans that are secured considers a collateral such as your home or land, vehicle, jewelry or even bonds. With secured loans, you can get a lower interest rate because the asset you put up as collateral guarantees the loan. This means you are less risky. Acceptable loans that are secured allow the lender to seize your asset and set it to cover the loan balance in case you default on the loan. An acceptable loan that is unsecured, on the other hand, may have a higher interest rate and it requires the borrower to have a good credit rating.

Whether you take out a short-term or a long-term loan, whichever type it is, what’s important is that you get these acceptable loans from reputable lenders. There are many fraud, scammers, and loan sharks today. The best way to avoid them is to take some time to have a background check on the lender and see whether they are licensed and authorised to do business.

Acceptable Loans for Bad Credit

The interest rate of bad credit loans is quite high, but it varies from one lender to another. It is worthwhile to compare the rates and fees of different lenders for you to find out the cheapest possible bad credit loan. You might also want to consider other features of the loan such as early payment fees, if there are any.

Acceptable loans for bad credit includes payday loans, doorstep loans, logbook loans, and other online instant loans. They are small, short-term loans, usually payable over two weeks or a month, or usually on your next paycheck. Some lender may also have longer terms such as three to six months.

Logbook loans are also acceptable loans for those with bad credit. Logbook loans that are acceptable loans uses the borrower’s vehicle to secure the loan. Acceptable loans of this form considers any type of vehicle such as car, van, motorcycle, or even a boat or airplane. The loan amount can be substantial, usually corresponds to the net value of the vehicle used as collateral.

You’ll also find many lenders offering bad credit loans with no credit check especially online. While these loans are still acceptable loans, be extra cautious when dealing with these types of lenders because they might be illegal and a fraud. Beware that all lenders of acceptable loans are supposed to be required to run a credit check, so any lender who doesn’t do this might be fraud.

However, there are lenders who are legitimate and still offer acceptable loans with no credit check. They may not run a hard credit check, but they will ask you other personal information to assess your creditworthiness. These personal details may include your address, employment history, monthly income, and expenses. Your address must be the same as the one reflected in your bank details. They need your employment history and monthly income to ensure that you can afford the repayment of your loan.

Acceptable Loans in the UK

You’ll find acceptable loans in the United Kingdom available for every need and different credit rating. Because of stiff competition, lenders have become more flexible and lenient over the years with the loans they offer. Interest rates are more competitive and loan terms are more flexible.

Lenders have become more open even to borrowers with bad credit rating. Many banks and private lenders now offer online services for quicker access to cash and for more convenience. You can also obtain acceptable loans from nonbank financial firms like credit unions and peer-to-peer lending firms.

You can easily get acceptable loans in the UK because the number of lenders is growing each year. Acceptable loans for specific needs are very accessible. Lenders are more than willing to entertain you and offer you an option that suits your needs best.

why choose acceptable loans

5 most recent personal loan reviews

Review of Oakam

There are no other companies who can finance you as easy as Oakam loans, fast, courteous, reliable, no penalties and no hidden fees - real people for working class. Be honest find a friend to back you and you're done. Over 3 months I got £10,000, thank you Oakam you were there for me when all banks said NO.

Review posted by Daniel Fisher, Grantham

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Cashflex

Cashflex was very considerate and understanding in giving a loan to a person with a limited credit history in the UK. Although I am in a well paying job, the fact that I moved recently to the UK makes people like me with a limited credit history look totally untouchable for high street banks. Cashflex opened a door and some breathing space for me, whose only other option would be payday loans. Thank you very much Cashflex!

Review posted by Manu Balewa, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Flexy Finance

After almost giving up on all my wedding plans due to the fact my grandfather had recently been diagnosed with lung cancer, taking months off work to look after him and attend his treatments, this took a massive impact and couldn't afford to pay our venue. Our wedding is in June and the pressure was getting to much! Not to mention the worry and feeling anxious that my grandad won't be here to give me away, it's basically now or never. So knowing my credit isn't the best I just hit a wall and thought this was the end! Until I came across Flexy Finance loans! After having a chat with my sister who wanted the wedding to go ahead as much as me she very kindly agreed to stand my guarantor! I only applied Saturday evening Tuesday £4000 cleared into my account! So a massive massive thank you! You've not only helped my dreams come true but given my family hope and something very good to look forward to! Would recommend to anyone.

Review posted by Anita Moir, Downham

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

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Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Please note:
Loanora is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances