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Small Loans

Every now and then you may just want or need a small cash boost, anything from £500 up to £1,000. At Likely Loans, there’s a quick and easy solution: small loans. Whether you need it for unexpected bills, to finish a project, make a purchase or simply to help with your cashflow situation, a personal loan may be able to help you out.

We offer unsecured loans so you’ll be able to submit a loan application without providing your home or personal assets as collateral. You may even qualify if your credit rating has made it difficult for you to secure a loan in the past. The application process is simple to fill out, and you can get an instant response on your eligibility along with a personalised quote without committing to anything.

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Over how many months?

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Representative APR

59.9%

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( It won’t affect your credit score )

Representative 59.9% APR

Representative example

Borrowing £2,000 over 24 months at Representative 59.9% APR and Interest rate 59.9% p.a. (fixed) with monthly repayments of £131.05 and a total amount payable of £3,145.20. This example is for illustration purposes only. The rate and / or term you are offered is dependent on your individual circumstances Rates from 39.9% APR to maximum 89.9% APR. Loan terms from 12 to 36 months.

How Do I Apply?... 3 steps, that’s it!

When applying for one of our unsecured personal loans there are three simple steps to follow:

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1. Tell us a little bit about you

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2. Get an instant response

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3. Money next working day

Why Choose Us for a Small Loan?

There are a number of great reasons why you should choose Likely Loans, including:

  • You’ll know whether you’ll be accepted and what the payment terms are before you start the simple application process, making it easier to decide

  • You can easily manage and repay your loan online

  • You can repay your loan early without incurring a penalty or additional expenses

Frequently asked questions

What is a small loan?

A small loan is unsecured credit usually under £1000 and paid back within 12 months. These loans provide a small injection of money to help with financial emergencies and temporary cash flow situations. It’s a quick and simple solution done online.

When should I consider a small loan?

Small loans are usually used for unexpected expenses in situations where you find yourself a little bit short of cash. It’s designed to support you over a short period of time, not for the long term. It’s worth checking if friends or family will lend you the small amount you need before applying for a loan, and if not, that’s when you should consider it.

Are small loans expensive?

It depends. APRs (Annual Percentage Rates) for small loans can sometimes be higher than other loans, because they aren't normally offered over terms longer than 24 months. You can find out an example monthly payment and total amount payable when you use our loan calculator, this will help give you an indication of whether a small loan is right for you.

Are small loans the same as payday loans?

No. Small personal loans and payday loans are there to provide a small amount of money over a short period, so on first glance they may seem the same. Payday loans, however, are extremely short-term loans, usually repaid in a month, with high interest rates. Whereas our small loans can be repaid over a longer period of time - typically over a minimum of 12 months.

Do small loans affect your credit score?

All borrowing affects your credit score in some way. If you pay your small loan back on time and in full, you won’t experience any negative effects from taking out a loan. If you’re late on repayments, this will show negatively on your credit file and make it more difficult to secure credit in the future.

How soon do I have to pay a small loan back?

When you take out a loan, you’ll be provided with a detailed repayment schedule as part of your loan agreement - this is where you’ll find out when you should be repaying your loan. You can usually repay your loan early without incurring a fee.

What is the interest I pay on a small loan?

The advertised representative APR is a guideline for what to expect, but not guaranteed. The way it works is that 51% of people who apply and are accepted for a small loan will get this rate. If your credit rating isn’t perfect, there’s a chance you’ll be given a higher interest rate.

How long will it take before receiving the small loan?

Applying for any loan with Likely Loans is quick and simple and find out if you’re eligible within minutes. After that, once your application goes through the required checks, if you are approved you could have your money in your bank account by the next working day.

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Get a Quick Small Loan Quote Today

Our quick quotes are designed to be transparent, so you won’t ever be caught off guard by hidden fees. They won’t have any impact on your credit score at this stage with our soft searches unless you decide to submit a full online application. Simply apply online for a small loan with us and choose your repayment period. We’ll ask for a few personal details, and we can then provide you with an instant response on your eligibility and a breakdown of the interest rate and monthly repayments, so you can decide whether this small loan is the best option for you.

You’re not obliged to continue the application after the quote, so if it isn’t right for you it won’t impact on your credit score. If you do decide to proceed with a small loan, you could receive your money as early as the next working day.

Apply for a Small Loan UK-Wide with Likely Loans

Apply for a small personal loan with Likely Loans today, even if you have bad credit. If you’d like to find out more information about our services, including our types of small loan, please get in touch.

( It won’t affect your credit score )

Representative 59.9 % APR