Understanding the language we use

We want our communications to be clear, fair, and easy to understand.

Sometimes you’ll see specific words or phrases on our website, in our emails, or in our advertising. This page explains what they mean, helping you to make informed decisions and understand what to expect if you apply for a loan with us.

If there’s anything you’re unsure about, please contact our team who will be happy to help explain it.

What we cover in this overview:

15-minute funding

You may see us refer to 15-minute funding in our advertising.

When we use this phrase, we’re referring to how often we release funds to customers whose loan has been approved and is ready to be paid. This doesn’t mean funds will be available within 15 minutes of the start of the application or within 15 minutes of signing your loan agreement.

Before we can send any money, we need to complete our application and affordability checks. In some cases, we may need additional information from you before we can make a decision. This means the time between starting an application and receiving your money will vary from customer to customer.

Once your loan has been approved, your agreement has been accepted and all required checks have been completed, we release funds in 15-minute funding cycles throughout the day.

After we’ve sent your payment, the time it takes to appear in your account will depend on your bank.

Average submission to funding time

From January 2026 to July 2026, we have an average time of 1 hours and 21 minutes from customers submitting their application to having their loan paid into their bank account.

A regulated, UK-based direct lender

Moneyboat is a trading name of Evergreen Finance London Limited, which is authorised and regulated by the Financial Conduct Authority (FCA). Our FCA reference number is 674154.

Being regulated by the FCA means we must meet standards designed to help protect customers and treat them fairly.

If you’re considering borrowing from any lender, it’s worth checking that they’re authorised by the FCA. You can do this by searching the Financial Services Register.

Understanding our interest rate

Our loans are a form of high-cost, short-term credit. They’re designed to help with temporary, unexpected expenses and aren’t intended as a long-term borrowing solution.

Our daily interest rate is 0.79%. FCA rules also limit the interest and fees that can be charged on high-cost short-term credit to 0.8% of the amount borrowed per day.

The total amount you’ll repay will depend on how much you borrow and how long you borrow it for. We’ll always show you the full cost before you decide whether to take out a loan.

If you’d like to compare our rates with other lenders, you can visit AllTheLenders.org.uk.

Daily interest rate

You may notice that short-term loans are often shown using a daily interest rate rather than an annual rate.

Because these loans are typically borrowed over a much shorter period than other types of credit, a daily rate can help show how borrowing costs build up over the life of the loan.

Whatever type of credit you’re considering, it’s important to look at the total amount you’ll repay, not just the interest rate.

Representative APR

Representative APR is a standard way lenders show the cost of borrowing. It helps you compare different credit products more easily.

The representative example shown alongside the APR is based on a typical loan. Your own loan may be different depending on the amount you borrow and how long you borrow it for.

Before you accept a loan, we’ll always show you exactly how much you’ll repay, including all interest and charges.

Our guide on the difference between APR and interest rates goes into this in more detail.

Affordability checks

Before approving a loan, we carry out affordability checks to help us assess whether the repayments are likely to be affordable for you.

As part of these checks, we may ask you for additional information or documents. Sometimes this means it takes longer to process an application.

These checks are an important part of responsible lending and are designed to help customers avoid borrowing more than they can comfortably afford to repay.

Credit checks

When you apply, we’ll carry out checks to help us assess your application.

These may include checking the information you’ve provided and using information held by credit reference agencies.

Making an application doesn’t guarantee that your loan will be approved.

Responsible borrowing

Short-term loans are designed to help with temporary financial needs, such as unexpected expenses.

They aren’t intended for ongoing borrowing or to help with long-term financial difficulties.

If you’re finding it difficult to keep up with your finances or need to borrow regularly, debt advice may be available from the free and independent support organisations listed here – such as StepChange, National Debtline, or Citizens Advice.

Need more information?

If there’s anything in our communications or on our website that you’d like us to explain, please get in touch. Our team will be happy to help.