Small Loans
Small loans for when you need a little extra help
On occasion an unexpected bill or unplanned expense may leave a hole in your budget. A small loan lets you borrow a relatively modest amount of money, repaying it through regular repayments over an agreed period of time.
Small loans can be used for a range of one-off costs and unlike payday loans, which are typically designed to be repaid over a very short period, small loans can offer longer repayment terms and a more manageable way to spread the cost of borrowing. Small loans may spread the cost of a one-off expense over an agreed term, but longer repayment periods can increase the total interest paid. Compare the APR, total amount repayable and repayment schedule before borrowing.
At Fair Finance, new customers can apply to borrow between £400 and £1,000, with repayment terms from 6 to 12 months. If you’ve had a loan with us before, existing customers may be able to borrow up to £3,000, with a longer repayment term of up to 18 months.
If you are considering a small loan, it’s important to only borrow what you need and ensure repayments are affordable.
Fair Finance considers each application individually, including credit history, income, expenditure and existing commitments. We only offer credit where our assessment indicates repayments are affordable; approval is not guaranteed.
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What is a small loan?
Small loans may be useful for:
- Unexpected household expenses
- Essential repairs or replacements
- Urgent travel or transport
- An unexpected bill
Before borrowing, consider whether you need a loan and whether the repayments will comfortably fit your budget. You’ll repay more than you borrow, so it’s always important to check the total cost as well as the repayment amount.
Small loans from Fair Finance
With Fair Finance:
- New customers can apply for £400–£1,000
- Repayment terms are 6–12 months for new customers
- Existing customers may borrow up to £3,000
- Weekly or monthly repayments are available
Every application is assessed individually, and approval is subject to eligibility and affordability checks.
Small Loans
A direct lender providing affordable small loans
Representative Example
If you borrow £500 repayable over 12 months, your total repayment will be £929.40. Your 12 monthly instalments will each be £74.95. We will also charge and a one-off administration fee (6% of loan amount) amounting to £30. The rate of interest applied to the loan is 132% fixed. The Representative APR is 280%.
New customers can apply for a loan of up to £1,000 with repayments terms of between 6 and 12 months.
Existing customers can apply for a loan of up to £3,000 with a maximum repayment term of 18 months.
Can I get a small loan with bad credit?
When considering your application, we look at your current financial circumstances and ability to afford the repayments, including:
- Your income
- Regular household expenses
- Existing financial commitments
- Your credit history
We consider each application individually rather than making a decision based solely on your credit score. Acceptance is not guaranteed and applications remain subject to our affordability and eligibility criteria.
What should I consider before taking out a small loan?
Before applying, consider:
- Whether you really need to borrow
- How much you actually need
- The regular repayment amount
- The total amount you’ll repay
- Your existing bills and commitments
Longer repayment periods can reduce individual repayments but may increase the overall cost. We do not charge an early repayment fee. If you repay your loan early, the amount of interest you pay may be reduced in accordance with your loan agreement.
WHY BORROW A FAIR PERSONAL LOAN
Bad Credit? On Benefits? New to the UK?
Discounts for existing customers
No hidden surprises
A fairer approach to small loans
If an unexpected or essential expense has left you needing a little extra help, a Fair Finance loan could be an option.
At Fair Finance, we believe access to credit should be fair and responsible. Our aim is to provide straightforward borrowing with clear costs and repayments, while making sure any loan we offer is affordable for you so before applying, use the loan calculator above to understand your repayments and the total amount you’ll repay.
However, if you’re already struggling to keep up with debts or essential bills, taking out another loan may not be appropriate.
Free and impartial debt advice is available through organisations such as MoneyHelper and Citizens Advice.
To find the best place to get the advice or support you need to manage your bills and finances why not use our free Money Advice Tool to point you in the right direction.
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LET US ANSWER YOUR FAQ’s
We are a direct lender providing affordable loans of up to £3000
I receive benefits. Can I still apply for a loan?
Yes. Many of our customers receive benefits. The most important thing is whether our loan would be genuinely affordable for you - that's what we look at.
Do you make fast application decisions
Yes. We aim to provide a decision within 24-48 working hours, although this may take longer if additional information is required.
What documents do I need?
Our aim is to make applying for a loan as easy and convenient as possible. We'll use electronic identity and credit checks, as well as bank statements to assess your application. In most cases, this is all we’ll need.
However, if we can’t verify certain information this way we may ask you for more documents such as payslips or benefits letters, a proof of ID or proof of address.
Any more questions?
Why Choose Fair Finance for a Small Loan?
We’re committed to providing fair and affordable credit across the UK. As a not-for-profit social lender we see you as more than just your credit score. We look at your current financial circumstances and ability to repay so a less-than-perfect credit history doesn’t automatically prevent you from applying.
- Loans from £400 (subject to eligibility and affordability)
- Authorised and regulated by the Financial Conduct Authority (FCA)
- Clear information about repayments and borrowing costs
- Flexibility of weekly or monthly repayment
- Direct lender
- No guarantor required
Money worries? Need Advice?
From dealing with household bills and getting your budget under control to making better financial decisions, the tool helps you find practical guidance and understand what options are available to you.
Want to improve your credit score?
A lower score may limit your borrowing options or affect the rates you're offered. However, there are ways to improve your credit profile over time.