A payday loan is a loan that usually lasts just for a few weeks or even days. It was originally designed to help people get through the rest of the month until payday if they were running out of money.

Payday loans are readily available online or from high street shops. They tend to be for relatively small sums of money, usually between £100 and £1,000.

What can I use a payday loan for?

You can use a payday loan for anything you choose, but most people take out a payday loan either because they have run out of money for day to day living expenses or because they are faced with an unexpected expense or debt.

Are there any risks with payday loans?

Yes. The main risks are:

  • Interest rates on payday loans are often very high. They are an expensive way to borrow money.
  • Repaying the payday loan may make you short of money again, which can lead to a vicious circle of debt.
  • If you can’t repay your payday loan, this will show up on your credit report.
  • Some lenders may be biased against you if they see that you have recently had a payday loan.

    Is there an alternative to a payday loan?

    Yes. If you are usually struggling for money towards the end of the month, it is worth looking carefully at your finances to see where the problem lies. It may be that taking out a personal loan to get your finances back on track would be a better alternative to a payday loan.

    Fair Finance provides affordable personal loans of up to £800 for first time customers, and we are willing to consider you for a loan even if you have poor credit history or a CCJ.

    It is easy to apply for a personal loan with us. The application process has four simple steps:

  • You complete a simple online application form.
  • We will check your application and contact you with our lending decision.
  • If approved, we will finalise the details with you and ask you to sign the contract.
  • We then aim to get your money to you by the next working day at the latest.

    So if you are interested in a personal loan from Fair Finance as an alternative to a payday loan, just complete our online application form and we will take it from there.


    To apply for a personal loan with us, press the Apply Now button below to get started, or take a look at our loan application process to find out more.

    The Fair Finance Service

    As a first time client with us, you can:

    • borrow up to £800
    • repay over 26 to 52 weeks (6 to 12 months)
    • choose weekly, biweekly or monthly repayments to make it easier and more convenient to repay

    Click here to see how affordable our rates are!

    When you apply online, we aim to come back to you within one working day, but usually we come back in a few hours. We send you a decision by text and email, and also call you if you are approved.


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