Are instant short term loans really instant?

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

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£2,000 - £25,000
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Need an instant short term loan? Personal Loans Now provides an alternative!


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)


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)




Are Personal Loans Now’s Loans Instant?

That depends on your definition of the word ‘instant’. Here is how long the entire application process for an instant short term loan alternative at Personal Loans Now will take:

  • Application form – this takes an average of two minutes to fill out.
  • Loan decision – our advanced technology analyses your application, if we can’t fund you the loan ourselves we will forward it to the most suitable lenders and select the best loan offer received to present to you. This all happens within approximately 90 seconds.
  • Funding – if approved, you will receive same day funding directly to your account.

So no, you won’t get a loan with the click of a button. But the application process is just as fast as preparing a pot of instant noodles.


Apply with Personal Loans Now and receive a loan decision in 90 seconds

Apply now for a short term loan
and receive a loan decision in 90 seconds

Apply now for a short term loan and receive a loan decision in 90 seconds

Apply with Personal Loans Now and receive a loan decision in 90 seconds

Apply now for a short term loan and receive a loan decision in 90 seconds

Apply with Personal Loans Now and receive a loan decision in 90 seconds


How fast are instant short term loans compared to traditional loans?


Instant loans tend to be taken out online and are very different from bank loans, which used to be one of the only borrowing options available. Let’s take a look at these two types of loans in a little more detail:


How do I get an instant loan?

You can search for an instant loan lender that fits your needs online, using your mobile, tablet or desktop computer. Once you’ve chosen a lender, you just fill out the application form, submit it and wait. Depending on the lender, you should receive a decision within a few minutes, and if you are approved then the money will normally be sent to your account on that same day. No appointments, no paperwork, no delays.

How do I get a bank loan?

A typical bank loan will involve a visit to your bank branch, discussing your financial situation and requirements, and presenting documents and paperwork. The bank often needs time to perform thorough checks and some lenders will take 72 hours to decide, while some may take up to 7 days. Finally, if you are approved, the money will be transferred to your bank account, generally arriving within 5 working days.


It’s clear that comparing the speed of a bank loan to a quick short term loan is like setting up a race between a hare and a tortoise. If the loan is a serious decision, such as a long term business loan or a mortgage, a bank loan is usually the recommended product. However, if you just need a few hundred pounds over a short period of time, short term loans with a quick approval can be faster and much more convenient.


How do instant short term loans work?

The loan process is quite complicated, so we have had to put a lot of effort into making it as fast as possible. Below, we’ve outlined 5 steps we’ve taken to ensure that your instant loans are as instant as possible.


5 steps to instant loans

  1. Totally online – The entire process is online from A-Z, so you can apply from wherever you are. No need to come in for a meeting when you’re applying online!

  2. No documents or paperwork – We won’t ask you to scan or fax in any documents at all. Everything is done electronically to minimise delays and speed up the entire process.

  3. Instant loan decision – At banks and instore lenders, they generally have human underwriters which means the loan decisions process can take several hours or even days. Not with Personal Loans Now! Press apply and you’ll receive an fast loan decision within 90 seconds.

  4. We screen lenders for you – It’s vital to check that a lender is safe, authentic, and fully authorised by the Financial Conduct Authority before applying with them. With Personal Loans Now, you don’t have to. We are FCA authorised and all the direct lenders that we work with have been thoroughly checked out for you, saving you time and effort.

  5. Same day pay out to your account – Once you’ve been approved and signed the loan agreement, we’ll do our best to ensure you get the money directly to your account the same day.

Are instant short term loans just a myth? Personal Loans Now explores

Are instant loans just a myth?


As we’ve discussed, compared to bank loans and other forms of traditional lenders, instant and same day short term loans are very fast. However, while the terms ‘quick loans’, ‘fast loans’ and ‘speedy loans’ do all apply, there is some debate over whether the term ‘instant loans’ is justified.

Loans in the UK cannot be truly instant, as the FCA’s regulations require lenders to perform adequate affordability and credit checks. However, it has become accepted to refer to these loans as ‘instant loans’. So while truly instant loans are indeed a myth, instant short term loans continue to flourish and provide a fast source of credit to people in need.


Apply with Personal Loans Now and receive a loan decision in 90 seconds

Apply now for a short term loan
and receive a loan decision in 90 seconds

Apply now for a short term loan and receive a loan decision in 90 seconds

Apply with Personal Loans Now and receive a loan decision in 90 seconds

Apply now for a short term loan and receive a loan decision in 90 seconds

Apply with Personal Loans Now and receive a loan decision in 90 seconds


Instant Short term loans

We’ve looked in detail at the loan process of so-called ‘instant loans’. While they may not be instant in the most literal sense of the word, they are very fast in comparison to bank loans. Personal Loans Now uses a super-fast loan decision engine to ensure that you get your loan decision in just 90 seconds or less. When you need a loan fast, you don’t want to hang around waiting for an answer.

Apply Now for an ‘instant’ decision on your loan, or choose one of the options below to find out more about our short term loans alternatives.




Written by: Fiona McCampbell
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