Bad credit loans from £200 to £1,500
If your credit history isn’t perfect, you can still apply for a loan. Explore bad credit loans from £200 to £1,500*, with repayments spread over 2 to 6 months.
✔ Fixed repayments with no hidden fees
✔ Clear total cost shown before you accept
✔ Apply online in minutes
✔ Receive funds within 15 minutes**
Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative 1,267.9% APR.
Compare Moneyboat loans.
Warning: Late repayments can cause you serious money problems. For help, go to www.moneyhelper.org.uk.
Important: Moneyboat provides a flexible short-term loan. Although these loans are recognised and often searched for by our customers as ‘bad credit loans,’ our focus is on providing clear and accessible financial options that meet your needs.
*New customers may be able to borrow between £200 and £800. Returning customers may be able to borrow up to £1,500, subject to affordability checks.
**‘15-minute funding’ means that funds can be deposited into customers’ bank accounts within 15 minutes once all checks have been completed. Please see our ‘Understanding the language we use’ page for more info.
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How bad credit loans work
A bad credit loan is a type of short-term borrowing designed for situations where you may need financial support but have experienced credit difficulties in the past. Here’s how our short-term loans for bad credit work:
Step 1
Apply in minutes
Fill in a short online form and let us know how much you’d like to borrow. We’ll run a credit check and assess your application on its own merits.
Step 2
Get your personalised offer
Before signing your agreement, you’ll see exactly how much you’ll repay, including interest, before you decide whether to go
ahead.
Step 3
Receive your funds
Once approved, we’ll send the funds to your bank account within 15 minutes**
Step 4
Repay in fixed instalments
You’ll repay the loan instalments over 2 to 6 months on agreed dates. The full repayment amount will be clearly set out in your agreement.
Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative 1,267.9% APR.
How much does a bad credit loan cost?
The total cost of borrowing depends on:
- How much you borrow
- The repayment term
- Your personalised loan offer
Before you accept any loan, you’ll see the full breakdown, including your monthly repayments and the total amount repayable, so you have all the information to make the best choice for you.
How pricing works
Short-term loans in the UK are regulated by the Financial Conduct Authority (FCA). This means strict limits apply to protect borrowers:
- Interest and charges are capped at 0.8% per day
- Default charges are capped
- You will never repay more than 100% of the amount borrowed
This ensures the cost of borrowing cannot keep increasing.
Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative 1,267.9% APR.
When a bad credit loan might help
A loan may be used for short-term, unexpected expenses, including by people who have experienced credit difficulties in the past.
These loans are intended for short-term financial support, not ongoing borrowing.
Before applying, it’s important to make sure the repayments would comfortably fit within your budget.
If your finances feel stretched, it may be worth considering other options first so you can make the right choice for your situation. See our guide on short-term loan alternatives.
Are bad credit loans right for you?
A bad credit loan may be suitable for occasional short-term borrowing, but it’s not right for every situation.
| ✔ It may be suitable if… | ✘ It may not be appropriate if… |
|---|---|
| ✔ You’re facing a one-off expense before payday | ✘ You’re struggling with ongoing debt |
| ✔ You have a regular income | ✘ You’re borrowing to repay other debts |
| ✔ You only need short-term financial support | ✘ You need longer-term financial support |
| ✔ You can comfortably afford the repayments | ✘ You’re unsure if you can meet the repayment schedule |
Short-term credit should be used carefully. If you’re not sure whether this is the right step, take a little time to review your budget first.
If you’re feeling under financial pressure, free, independent advice is available at moneyhelper.org.uk. You can also see a full list of free and independent support organisations here.
Eligibility for a Moneyboat loan
To apply for a Moneyboat loan, you need to:
✔ Be 18 or over
✔ Live in the UK
✔ Have a regular source of income
✔ Have a UK bank account in your name
When you apply, we’ll run a credit check.
These checks include a hard credit search, which will be recorded on your credit file and may be visible to other lenders.
Meeting these criteria does not guarantee approval.
For more information, read our guide to loan eligibility.
Representative Example: Borrow £400 for 4 months: 3 monthly repayments of £156.09 followed by a final repayment of £156.07. Total repayment £624.34. Interest rate p.a. (fixed) 288.35%. Representative 1,267.9% APR.
What is a bad credit loan?
Bad credit loans are designed for people with poor credit scores or histories. They enable you to apply for credit if you’ve experienced credit problems in the past, such as missed payments, defaults, CCJs or an IVA.
When assessing applications, we consider your current financial circumstances, including your income, outgoings and existing commitments.
Approval isn’t guaranteed. We’ll only offer a loan if we believe the repayments appear affordable.
Credit checks & responsible lending
As a regulated lender, we are required to ensure that borrowing is suitable and manageable.
When assessing an application, we review:
- Your income
- Your regular essential outgoings
- Your existing financial commitments
- Information from credit reference agencies
We also conduct a hard credit check. This will appear on your credit file, may be visible to other lenders, and, in some cases, may affect your credit score.
If a loan places too much pressure on your finances, we may decline the application.
Responsible lending helps protect customers from taking on debt that could cause financial difficulty later.
If you’re unsure, free and independent guidance is available at moneyhelper.org.uk. You can also see a full list of free and independent support organisations here.
Why choose a loan from Moneyboat?
When you need financial support before payday, it’s important to borrow from a lender you can trust.
With Moneyboat, you can:
Get funds the same day, if approved
See your total repayment before accepting any loan
Repay in fixed instalments over 2 to 6 months
Apply online in minutes
Borrow from a regulated UK lender
Access friendly support from our human team
We focus on transparent pricing and responsible lending to help you make informed borrowing decisions.
We’ll only offer a loan if we believe it appears affordable based on our checks.
Alternatives to bad credit loans
Before taking out a loan, consider whether another option could work for you.
Depending on your situation, alternatives may include:
- Using savings if available
- Speaking to your employer about a salary advance
- Borrowing from a credit union
- Arranging payment plans with creditors or utility providers
- Checking eligibility for budgeting loans or other support schemes
Bad credit loans are designed for short-term, occasional borrowing.
If you’re facing longer-term financial difficulties, it may help to seek independent advice before applying.
Free and independent advice is available at moneyhelper.org.uk. You can also see a full list of free and independent support organisations here.
Types of loans
Short-term loans
Moneyboat provides regulated short-term loans intended for temporary financial emergencies, with clear terms.
Repayments are made in fixed monthly instalments over an agreed period, so you know exactly what to expect and how much it will cost.
Emergency loans
Emergency loans are used to cover urgent, unexpected expenses, such as essential repairs or unplanned bills.
Car repair loans
Car repair loans help cover the cost of essential vehicle repairs to keep you on the road while repaying over time.
Instalment loans
Instalment loans are repaid in fixed amounts over an agreed period, with the total cost set out upfront.
3-month loans
3-month loans are repaid over three months, usually in fixed instalments.
6-month loans
6-month loans are repaid over six months, spreading the cost into smaller instalments.
Who is Moneyboat?
Moneyboat is a UK-based direct lender.
We provide short-term loans with transparent pricing, fixed repayments and responsible affordability checks, helping customers understand exactly what they are committing to before accepting a loan.
If you ever have questions, our human team is here to help.
FAQs about loans from Moneyboat
Borrowing money can feel complicated, especially when you’re dealing with an unexpected expense. To help explain how loans work, including for people who have experienced credit difficulties, our experts answer some of the most common questions.
Yes. When you apply for a loan with Moneyboat, we carry out a hard credit search as part of our assessment.
A hard search will be recorded on your credit file and may be visible to other lenders. It may also affect your credit score, particularly if you make multiple applications in a short period.
If you proceed with a loan and make repayments on time, your repayment history may also be reported to credit reference agencies. Missed payments could negatively affect your credit score.
Once your application has been reviewed and approved, the funds will be sent to your bank account.
This may happen the same day, and in some cases within 15 minutes**, although timing depends on approval and your bank’s processing times.
**‘15-minute funding’ means that funds can be deposited into customers’ bank accounts within 15 minutes once all checks have been completed. Please see our ‘Understanding the language we use’ page for more info.
No. All lenders regulated by the Financial Conduct Authority must carry out credit and affordability checks before approving a loan.
If you think you may miss a payment, contact us as soon as possible so we can discuss your options.
Missing payments can affect your credit file and may result in additional charges, subject to FCA limits.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk. You can also see a full list of free and independent support organisations here.
Before approving a loan application, we assess whether the repayments appear affordable for you.
This includes reviewing your income, essential outgoings and existing financial commitments.
If we believe the loan may place too much pressure on your finances, we may decline the application. This helps protect customers from taking on debt that could lead to financial difficulty.
Applications for bad credit loans may not be approved for several reasons, including:
- Affordability concerns
- Insufficient or irregular income
- Existing financial commitments
- Incomplete or incorrect information
- Credit history factors
If we decline an application, it is because we believe the loan may not be suitable or affordable based on the information available to us.
Moneyboat is a direct lender.
This means you apply directly with us rather than through a broker or loan-matching service. We don’t sell your details to other lenders, and you won’t be contacted by multiple lenders after you apply.
Yes. You can repay your loan early at any time.
If you choose to do this, you’ll only pay interest for the period the loan was outstanding, in line with regulatory rules. There are no early repayment charges.
Read our guide to what you need to know before borrowing online.
If you’re unsure whether a loan is the right option, you may want to consider alternatives such as:
- Credit unions
- Employer salary advances
- Payment plans with creditors
- Budgeting loans or other support schemes
Free and independent guidance is available at moneyhelper.org.uk. You can also see a full list of free and independent support organisations here.
If you’re struggling with your finances and you’re not sure where to turn, help is available from independent organisations, including:
- MoneyHelper is a government service offering free financial advice by chat, WhatsApp or phone
- National Debtline offers free and independent debt advice by phone or chat
- StepChange provide debt advice by app or phone
- Shelter gives advice on debt, housing and healthcare by phone and chat
- Citizens Advice can speak to you about debt, employment and benefits advice
You may be able to get a loan if you are receiving benefits, as long as you are also in employment and your overall income is sufficient to comfortably cover the repayments.
When reviewing applications, we consider your full financial situation, including your income, essential outgoings and existing commitments. All applications are assessed for affordability before any loan is offered.
All applications are assessed based on affordability.
Read our minimum lending requirements for more information.
No lender regulated by the Financial Conduct Authority can guarantee loan approval.
All applications with Moneyboat are assessed based on status and affordability. This helps ensure that any loan offered is suitable and manageable based on your financial circumstances.
It depends on your individual circumstances.
If you already have a current Moneyboat loan, you won’t be eligible for another loan with us until your existing agreement has been repaid.
As part of our affordability checks, we review your existing credit commitments when you apply. If you already have outstanding short-term credit, this may affect whether you’re eligible for another loan.
If taking on additional borrowing could place financial pressure on you, your application may be declined.
Yes. You have the right to withdraw from your loan agreement within 14 days of signing.
If you choose to withdraw, you’ll need to repay the amount borrowed plus any interest that accrued while the loan was outstanding.
Most applications can be completed online without uploading documents straight away.
You’ll usually be asked to provide:
- Your personal details (name, address and contact information)
- Details of your income and employment
- Information about your regular monthly outgoings
- Your UK bank account details
In some cases, we may ask for additional information to verify your identity or confirm your income. This could include photo ID or recent bank statements, depending on your circumstances.
Any checks we carry out form part of our responsible lending and affordability assessment.
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