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Best Payday Loans: Direct Lenders Compared

Last Update: January 17th, 2017

Compare Payday Loans for Bad Credit (+Prime)


The payday loan boom was a direct result of the financial crisis (2007 to 2009). These savvy web start-ups simply stepped up to the mark when the banks stopped lending. This industry was originally adopted from America. The oldest active lender is The Money Shop who opened their first store in Nottingham in 1996. Online lending was rooted to 2003 when we saw several brands popping up such as EPDL (closed) and PaydayUK. The monthly product available had an average interest charge of £30 per £100 borrowed. Slow BACS transfers took a few days to clear whilst expensive same day funding was possible by CHAPS. Through EU ruling, Faster Payments would eventually become the standard.


Best Short Term Loans: Direct Lenders Compared

Last Update: January 19th, 2017

Compare Short Term Loans for Bad Credit (+Prime)


Short term loans are simply payday loans with added flexibility. Whilst traditional firms require a repayment when you are paid at the end of the month, you have the freedom to set your own date here. You only pay for your selected term that was until recently a major benefit over the payday firms whereby a full monthly charge was required even when repaying in a few weeks. This USP however diminished through FCA capping that limits lender pricing at 0.8% daily. There has been a notable squeeze on the lenders listed below since they see minimal interest profits and they must cover fast transfer fees on their side (to meet the cap).


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