List of Brand New Payday Lenders 2016

Q: I’m looking for a list of brand new payday lenders 2016 or if not companies that launched in 2015? (shortened for title) ~ Jo, Stoke.

Hi, a similar question was asked back In 2015. That submission went on to become the most popular page viewed on Lenders4U and this one here has been trending the most for several months now. This query reached us in late January and so there hadn’t been any brand new payday lenders 2016 back then. Time has passed on (now in October) and we have seen a few newcomers. The question did also extend to 2015 firms and so we also have added those. In the future, most newer companies will be expected to target instalment periods or at least be extra picky on shorter repayments. Whilst it is nice to see additions, there has been some recent Closures.

Firstly for 2016…


Drafty is a fresh project from the same team behind Lending Stream. This product works like an overdraft whereby you can use the facility over any period of time. The big USP is pricing seen in the excellent fixed daily interest of just 0.18%. This means that they are the current cheapest payday and short term lender. They are naturally extra picky with who they take on compared to Lending Stream. The actual launch went through in July, but they did pilot through LS in 2015.

Response Funding

Not a newcomer, but a rebrand of Fancy a Payday (2009) that went through in March. As before, they offer a 3 month term. Other than a change to their amounts and SSL being added, there is little else on the update front.

Sunshine Credit

Arrived in April 2016. This is from the same team as the Quick Loan Shop (another is listed below). The key feature at this site is the cheap monthly cost up for grabs at just £12 per £100.

The Money Platform

Brand new peer-to-peer short term loans from Gracombex Ltd. Offers restricted amounts and sums, but their value is very competitive. Unfortunately, they are seeking good credit scored applicants only aged at 20+. The return for those looking to invest in the marketplace should be around 12%.


You may recognise this brand. They operated locally from 2012 to late 2014. This Euro lender has come back to give it a go, popping up in February 2016. First time customers see a 50% drop in price that means that you can obtain a 30 day loan for just £12 rather than £24. This is the joint 2nd cheapest payday loan offering available in the UK. The main drawback was that they closed over the weekend, but they have recently extended to Saturdays (9am/2pm).

Finally, we are primarily looking at shorter term products here, but if you are interested, the major insurer Admiral have just launched a personal loan. This is another prime offering so they are tight on their lending decisions. Those that do quality can expect an excellent low rate of just 3.2% APR (on larger amounts).


H&T Finance

H&T Finance appears to have popped up sometime in 2015 when they integrated online pawnbroking into their site. H&T have previously traded on the web, but they then restricted to their stores. This relaunch has much to do with their growth that has seen them emerge as the #1 pawnbroker, when they benefited from Albemarle & Bond’s financial woes. You can select any single month between 3 and 24 here that makes this one of the most flexible services around. It is however a shame that they have removed the payday option where they charged £22.20 per £100. A further benefit is their high street chain of 190 Stores and so you can head into one of these if you’d prefer to do that. You’ll need to show a bank statement and payslip.

Miss Payday

Another Quick Loan Shop brand following on from Sunshine Credit above. Unlike on that side there is no low cost deal available with the industry cap (£24/£100) instead being set.


A fresh face on the scene. Offers a service that works alike an overdraft whereby you will be handed with a credit limit up to £400 and then in time £1000. You can advance sums (in £100 blocks) whenever you please 24/7. Each time you borrow a sum you’ll need to pay it back in 20 days. They only charge 0.75% daily and so the charge is £15 per £100 over 20 days. They did ask for ages 24 or above, but this has been relaxed down to 18. This brand has expanded over to Australia and Spain.

Pogo Loans

There has been lots of hype surrounding this Liverpool venture released by Fire Capital Ltd since they arrived in May. Initial research suggests that they will become one of the fastest growing brands over the year. They look set to become the new Pixie Loans in this regard. Repayments were offered here at 1, 2 or 3 months, but 2 and 3 are now the only choices. This is a shame since their monthly charge at £18.60 was a great price.


Quidie arrived in January 2015. They offer monthly funding and are quite strict, not accepting bad credit and requesting a minimum age of 21.

The Money Shop

The Money Shop needs little introduction, as the market leading High Street Lender. This DFC brand has however had its troubles and now has a shrinking chain that has dropped from 550 down to around 300. This company has been active since 1996. However, 2015 has been the first time that they have offered a direct product online. Their previous approach was to forward leads on to PaydayUK or Payday Express that are part of the same group. TMS offers plenty of flexibility on terms of 3 to 12 months. More value is found in their shorter options.

Square Today

Only recently discovered. Looks to have launched in May 2015. This brand arrives from Cheque Centre who of course lend on the high street only. Cheque Centres Ltd is part of CNG Financial Corp who also own Cash Generator who many of us know well. Square Today offers 2 flexible products. These come with £200 to £850 (5 to 9 months) and £1000 to £5000 (1 to 3 years). This service is available Monday to Friday only, but you can apply at Cheque Centre stores on Saturdays.

That covers the brand new payday lenders 2015.

Hyped Launches

Kredito24: Kreditech have now removed the notice that they’ll be launched in the UK that is sad news. The site ( now just shows the group’s corporate info. In 2014 they launched in Australia (February), Peru (June), Dominican Republic (October) and in Kazakhstan (December). 2015 was a quiet year where they acquired the Polish fintech company Kontox whilst Brazil is still noted as planned. The UK is now off the cards.

Uploan: The same coming soon notice is still attached to You can subscribe to their newsletter for updates. Will it ever launch? Not too sure on that. Cash on Go are likely to stay fully focussed on Peachy.

Updates will follow here when any news flows to us. Just to add that outside of the payday space, Masa and Suco launched and SpringCoin rebranded to AvantCredit. If you’d like to discover companies that you may not be familiar with, then we’d recommend viewing our main comparison pages.