Short Term Loans Alternative

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* Affordable £2,000 – £25,000 Online!
RAPR 39.7%

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How much do you need?

£2,000
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£5,000
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£7,500
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£10,000
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£20,000
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£25,000
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*Direct lender and brokerage service*
*Representative 39.7% APR* (fixed)


All about applying for short term loans for bad credit, from Personal Loans Now
How much do you need?

£2,000
Apply now

£5,000
Apply now

£7,500
Apply now

£10,000
Apply now

£20,000
Apply now

£25,000
Apply now
*Direct lender and brokerage service*
*Representative 39.7% APR* (fixed)



Short Term Loans Alternative from Personal Loans Now


At Personal Loans Now, we pride ourselves in offering easy and affordable personal loans online to UK citizens. But more than that, we also offer short term personal loans as a short term loans alternative.

Personal Loans Now a leading direct lender in the UK offer a wide variety of loans. We also act as an exclusive broker allowing us to have very broad criteria, for example:

  • You can apply with any credit score
  • Employed, self-employed or unemployed
  • Tenant or homeowner
  • With or without a guarantor

The only requirements are that you are a UK citizen aged 18 or over and have a UK bank account so you can receive the loan.


Why are these loans called short term loans alternatives?


A short term personal loan is a whole different ballgame to a short term payday loan. Here is a bit of background to help you understand the difference between the two.


Short term payday loans

When the FCA brought out their new payday loan regulations back in 2015, payday lenders and brokers had to adapt their business models to fit. One idea that took root was to extend the span of the loan from the traditionally 30 days or less, and short term loans were born. A short term payday loan is essentially a payday loan spread over a few months, typically 2-6 months.

Our short term loans alternative

At Personal Loans Now, we’ve taken a completely new approach to the short term loan UK industry. Instead of taking a high-cost credit product such as a payday loan and stretching it out into a short term cash loan, we’ve created a short term loans alternative by taking the less controversial and more affordable personal loan and shrinking it down to just a few months.



When to use a short term loans alternative


It is important to set out guidelines for the responsible use of our short term credit facilities. Remember, this type of loan is designed for emergencies, not for everyday use.

Before you borrow, there are three main questions you should always ask yourself:


  1. Do I really need the money?
  2. Can I get the money from a cheaper source?
  3. Will I be able to afford the repayments?

Let’s explore each of these points in a little more detail.


Do I really need the money?

Think carefully about why you need the money. Is it for a necessity or a luxury? Emergency medical expenses or urgent home appliance repairs usually count as a necessity, while going on a 5* holiday or buying the latest model smartphone are normally luxuries. In general, borrowing for luxuries is a bad idea. Instead, save up the money beforehand so that you can cover the expense without going into debt.

Even if it is for something you really need, does it have to be now? For example, if your car has broken down and you won’t be able to afford repairs until your next payday, can you find an alternative method of transport until then? Or if your dryer has breathed its last, can you hang clothes up to dry while you save up for a new one?

Only borrow money if it is for something that you really need, and it can’t wait until you’ve saved up enough.


Short term loan alternatives - for when time is of the essence, from Personal Loans Now

Can I get the money from a cheaper source?

If it’s not a very large amount, you may be able to find a friend or family member who will be happy to lend to you interest-free. However, only go via this route if you’re completely sure you will be able to repay it. Is it worth ruining your relationship over a small short term loan?

Other sources of credit include 0% credit cards and arranged overdraft. Look carefully into all your options, and make sure you are selecting the best borrowing method for your requirements. If you do opt for a short term loan alternative, be sure to shop around online for the low interest short term loans. That being said, if you apply with Personal Loans Now, you won’t have to look around as it will all be done for you.



Apply with Personal Loans Now for a short term loans alternative

Apply now for a short term loan
from a premium direct lender and an exclusive broker

Apply now for a short term loan
from a premium direct lender and an exclusive broker

Apply with Personal Loans Now for a short term loans alternative

Apply now for a short term loan
from a premium direct lender and an exclusive broker

Apply with Personal Loans Now for a short term loans alternative


Will I be able to afford the short term loan repayments?

Even if you really do need the short term finance loan, if you doubt that you’ll be able to meet the repayments then don’t risk it. Defaulting on a loan has a major impact on your credit score, and while it is possible to improve a bad credit score, it takes a lot of work. Instead, take this as a sign that you need to work to improve your financial situation long term.


Learn More About Short Term Loan Alternatives

If you have done your research and are confident that a short term loan is the right choice, we at Personal Loans Now would love to help you. Apply Now for a short term loans alternative, or learn more about short term loans by selecting one of the options below.



Written by: Fiona McCampbell
Last modified: