Short Term Loans for Bad Credit

Loans from £100 to £5000 - Quick Online Decision

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Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed).Representative 669.35% APR (variable).

Warning: Late repayment can cause you serious money problems. For help, go to

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Short Term Loans for People With a Poor Credit Score

If your credit score isn’t as high as you’d like, you might find it difficult to get a short term loan. This is where we can help. Having bad credit shouldn’t prevent you from getting the finance you need. Apply today, and you could have the funds you need in under an hour!


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What are bad credit short term loans?

A bad credit short term loan is ideal if you don’t have a great credit history. Unfortunately, this applies to a lot of people as a credit score can easily be damaged.

What causes bad credit?

There are a large number of instances that will affect your credit rating:

1. A missed or late payment
2. Not being on the electoral register
3. Having a CCJ or bankruptcy against your name
4. Having no credit history at all (e.g. if you have never held credit.)

Why does bad credit affect your ability to get a short term loan?

Essentially, when banks or other direct lenders offer a loan, they want to know that it will be repaid on time. For this reason, they only tend to lend to customers with a good track record of doing this, which is reflected in your credit score.

However, because many customers do find that they experience difficulties, which means that payments might be late or affected somehow, there are specialist products designed to help customers with bad credit. This means that you can still borrow the money you need to live your life with a short term loan.

What is a bad credit loan?

short term loans will allow you to borrow money – either from a bank or from a specialist direct lender which offers loans for bad credit. There are different types of short term loans available to suit your needs. For example, at Cobra Payday Loans, we offer payday loans, short term loans, quick loans, no credit check loans, cash loans and same day loans.

How long is a short term bad credit loan for?

This will depend on the lender and the terms they are offering for their short term bad credit loans. A typical example might be for between three months and 12 months, although some may be on offer longer than this. Some short term bad credit loans will offer some flexibility features with repayments, such as overpayments or the chance to defer a single payment if you have already overpaid in some way. Others will have fixed structures so you will need to stick to the terms and timeframe of the loan at the point of taking it out.

How much can I borrow with a bad credit short term loan?

This will depend on the direct lender. We can help with bad credit short term loans from just £100 to around £5,000, although there may be some flexibility around these figures. Because the loans are only short term, they tend to be for smaller amounts so that the monthly repayments are more flexible. If you need to borrow a larger amount, then a long term loan may be more suitable for you, with a duration of around 36 months or even longer, so that you can spread the cost of your loan sum and make the repayments as manageable as possible.

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Borrow from £100 to £5000

How do I apply for a bad credit short term loan?

The easiest way to apply for short term loans is to do so online. You’ll need to be aged 18 or over and in receipt of a regular form of income. We have a straightforward online application that will instantly tell you whether you have been accepted. Simply provide some basic information about the type of loan you need and your personal circumstances, and we will submit it to our panel of lenders. (You can find out more about our lending panel below.) The sorts of information we ask you relate to your personal details – such as name and address – your earnings and your outgoings to give us a clear idea of your affordability.

Once we have received your information, it is sent to our panel of trusted direct lenders. The lenders will receive it instantly and review your application. Then, using their own rapid systems, they will be able to immediately return an offer if they are prepared to accept your application and offer you a loan. You will then see the details of all loans that are available to you on screen.

When you see your loan offers, look at the one which best matches your needs. Then, you can filter the results to see which will have the lowest repayment and the cheapest interest rate, for example, or the shortest repayment term. From here, you can then click through directly to the website of the direct lender and make your application online.

Remember that it is essential to give accurate information when making your application online for an instant lending decision.

How do Cobra Payday Loans find the best bad credit short term loans?

Our service matches you to a direct lender willing to offer you short term loans and other types of payday loans that you may be eligible for. We constantly scour the market for new loan deals and offers which customers often can’t see on the internet themselves. By working with a panel of trusted companies, each of which is a direct lender, we get details of the latest best offers and can recommend trusted direct lenders to you, all of whom are FCA accredited for total peace of mind.

Does applying with Cobra Payday Loans affect my credit rating?

No. When you search for short term loans for bad credit on our website, it is called a ‘soft credit search’. This means that the lenders can see enough information about you to make a loan offer, but it will not leave any footprint on your credit record and won’t affect your credit score. Only when you actually apply for your chosen loan will it appear on your credit record as a live loan.

How does Cobra Payday Loans choose its lenders?

We work with around 30 FCA authorised direct lenders, so you know that they are trusted and offer a quality service. What does FCA authorised mean? It means that the lender follows a code of practice and operates according to accepted quality guidelines. We work with direct lenders that we know and who have a good reputation in the market. This means that we can be confident in recommending them to our own customers for the best possible short term loans.

Why is Cobra Payday Loans the right broker for me?

We work hard to offer our customers an excellent service. As well as bad credit short term loans, we provide a range of other payday loans, including CCJ loans, with a fully transparent service. So why should you choose our service?

  • We offer loans of between £100 and £5,000
  • In most cases, the loan money will be available on the same day, with the cash being sent directly to your bank account.
  • There are no upfront fees to worry about.
  • The application process is 100% online, so you don’t need to make any calls or visit someone in a branch – there is also no faxing to worry about.
  • We are open all the time, including Bank Holidays, so you can access your payday loans when you need them.
  • No need for a perfect credit report! Anyone with a poor credit history is considered.
  • We provide a very quick decision on all short term loans so that you don’t need to wait.

Why don’t I pay any fees at Cobra Payday Loans?

We don’t charge our customers any upfront fees on their short term loans. The only charge you will pay is for interest, and the lender sets this rate. You will be given clear information about the cost of the loan and the repayments before you decide to take out a short term bad credit loan.

We earn our money through a commission from the lender – this covers our cost of doing business and lets us provide a service to our customers. But the lender pays this commission, and our customers are not charged for using our service. We are a transparent, clear and open business, and we are proud to help our customers find the bad credit payday loans that we need – you can find out more information throughout our website.

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Is a payday loan right for me?

If you are considering short term loans or another form of payday loan, you might be wondering if it is the right product for you. First, it’s essential to know that you can repay your loan before taking it out. If you apply for a loan when you know that you can’t meet the repayments, your credit record will only get worse, and you will find it increasingly hard to apply for financial products. You could also find that you end up in financial difficulty and even at court. If people continue to mismanage their finances, they can end up with a County Court Judgement (CCJ) or even bankruptcy order.

To find out if a payday loan is right for you, check first that your earnings exceed your outgoings. If they do, you know that you will have a surplus to make your repayments each month. On the other hand, if you spend more than you earn, it’s time to sit down and do a budget. Record all of your outgoings and see if you can reduce or remove some of them. For example, can you shop ‘down a brand’ for your groceries, can you stay at home more, can you stop ordering any takeaways or buying coffees on the go, or could you cancel any direct debits for products and services that you no longer need?

The more you can slash your outgoings, the easier it is to get a hold of your finances to get to a point where your earnings are more than your outgoings. This will make it easy to afford your loan. If you are taking out a short-term bad credit loan to consolidate other credit card debts, for example, you may even find that you save money as your new single repayment may be more affordable than your previous repayments.

Why it pays to get help

Various organisations can help you to get on track with your budget and finances, and they offer their services for free. These include the:

Citizens Advice Bureau – This national organisation has a large amount of useful information about debt and personal finances on its website, along with useful tools to help you to budget:

Money Helper – this government website is also completely free to use and impartial. You can chat with a qualified advisor for free, either online or on the phone, and get useful advice and guidance on managing your money and personal finances so that you can make the best possible decision for your personal situation:

Can I repair my bad credit with a short term loan

Yes, you can. If you meet your repayment obligations in full and on time, you will begin to rebuild your credit score and show that you are a trusted customer who can handle your finances. If you aren’t on the electoral register, apply to be on it now, as this will also help to build your credit score. It’s also worth going onto a credit reference agency website such as Experian ( to see your credit record and to see what financial information lenders can see about you. This credit report will flag up any areas that you can see need improvement. You may spot old accounts that you had forgotten about, for example, that you can close down. Equally, you may find an old bill that is overdue and needs paying. So pay off old bills, close old accounts, and get on top of your finances, using the help from a free debt advisor as needed for the skills, confidence, and knowledge you need to make a fresh start with your finances. One final tip? If you spot anything on your credit report which is incorrect, you can apply to have a note recorded for lenders to see your side of the story.