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Monthly repayment
Total repayable
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Representative Example
Loan repayable over 18 Months
17 Months at
Final payment
Rate of interest
59.97% p.a. (fixed)
79.5% APR
Total amount repayable

Bad Credit Loans

  • Get flexible bad credit loan, even with a low credit score.
  • No credit checks
  • Easy application approval
  • Free early payment options
  • Transparent and simple application process
  • No hidden fees
  • Reliable customer support

Are you dealing with a financial emergency or a sudden unexpected expense that you can’t afford? Are you struggling to get a loan from traditional lenders? Rest assured that Salad Money is here to help.

As direct UK lenders for bad credit loans, we offer you the support you need, regardless of if you have a bad credit history.

If you have a bad credit score and are struggling with an unexpected financial emergency, it may seem like your options are limited. This can lead to immense stress and anxiety. Rest assured, you’re not alone.

At Salad Money, we assure you that there is always help, such as through our More Than Your Score loans. Helping you bridge financial gaps and get back on your feet, our loans offer you fair loans for bad credit, regardless of your credit score.

Offering a flexible and accessible alternative to traditional lending options, our open banking assessment system accurately evaluates your eligibility, without a credit check. What’s more, we live and breathe responsible lending practices, that’s why we're regulated by the Financial Conduct Authority (FCA).

Are you ready to overcome the norms of traditional lending and deal with your bad credit financial situation head-on? Then get in touch with us now!

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Key Facts

  • Salad Money is authorised and regulated by the FCA.
  • Only you can choose to share your data (you’ll be taken to your banking provider's site during the application process).
  • You can stop sharing your data at any time.
  • Open Banking is an FCA-regulated process.
  • Your banking data is protected in the same way as it is when you use your Internet banking.

What are Bad Credit Loans?

Designed for people with low or no credit score at all, bad credit loans are a type of loan that is accessible to almost anyone. However, at Salad Money, we have some criteria that ensure you’re able to afford your repayments, to protect you. Offered by lenders specialising in personal loans for bad credit, these loans are unsecured and provide support to those struggling with an urgent financial problem.

While these loans are typically offered at a higher interest rate than normal loans, at Salad Money we are committed to delivering affordable, fair bad credit loans that minimise your risk. Moreover, if repaid fully and on time, they can also be extremely beneficial to your financial health and can be a way to boost your credit score.

Finding bad credit loans from direct lenders in the UK, particularly with fair repayment terms, is difficult, but with Salad Money, you can get the best loans at competitive rates, regardless of your credit score.

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The Pros and Cons of Bad Credit Loans

If you’re struggling to get a loan from a traditional lender, you’re not alone, with thousands of people in the UK struggling with getting a loan due to a bad credit score. Specially designed to help people with a less-than-perfect credit score, bad credit loans offer funding when most other lenders can’t. With our More Than Your Score lending system, even borrowers with bad credit scores can take advantage of our competitive interest rates.

However, even the best loans for bad credit come with their own set of pros and cons. Like every other finance product, these pros and cons are subject to the applicant. That’s why, when looking at bad credit loans, it is essential to understand how they may affect you and if they are the right choice for your situation. Explore the advantages and disadvantages of bad credit loans to help you make an informed decision.

Pros of Bad Credit Loans

Easy to Obtain: Unlike most traditional loans, if you have bad credit, a loan specially designed for you is typically easy to obtain. Especially for people struggling to get loans from traditional sources, these loans are more easily accessible to anyone in need of credit. What’s more, they do not require any collateral, extensive documentation or credit checks.

Can Improve Credit Score: Bad credit loans can be used to effectively improve your credit score in various ways. First, by choosing a personal loan for bad credit and repaying it on time, you can improve your creditworthiness. Second, by using a bad credit loan to consolidate your older debts, you can start to rebuild your credit history and get your finances back on track.

Fast Approval and Funding: Specially designed for almost anyone in need of urgent funds, bad credit loans offer quicker approval rates. This helps you get a quick response to your application and faster fund transfers into your bank account. This allows you to effectively deal with time-sensitive expenses, regardless of a bad credit score.

Flexibility: Not only do bad credit loans offer flexibility of use, but with Salad Money they also offer flexibility in terms of the amount borrowed and your repayment terms. Where you can borrow up to £1,000 between 12 and 18 months.

Alternative to payday loans: Unlike payday loans that can be extremely expensive, our loans for poor credit offer a fairer, more affordable alternative. With a unique affordability assessment system, we effectively analyse your creditworthiness without considering your credit score, offering you loans at competitive rates.

Cons of Bad Credit Loans

Higher Interest Rates: Most bad credit lenders have higher interest rates. This is because of the increased risk on the lender’s end and the nature of the loan. However, Salad Money offers highly competitive rates to help make the most out of your situation.

Limited Loan Amounts: Usually only offering up to £1,000, bad credit loans offer a limited amount of funding. While this can be helpful to avoid further debt, they may not be able to help you if your requirements are greater.

Shorter Repayment Terms: Bad credit loans offer shorter repayment terms in comparison to other loans. However, Salad Money is dedicated to giving you control over your finances. That’s why we offer poor credit loans with payment terms of 12 to 18 months.

Weighing the Pros and Cons of Bad Credit Loans Before Applying

Although bad credit loans are best taken only when necessary, it’s still important to do your research before applying. Be sure to understand all the terms and conditions of your loan and consider whether or not it could harm you more than it can help you.

That’s why it is important that you assess your own financial health accurately and properly weigh the pros and cons of a poor credit loan. Make sure you understand the repayment terms, fees, and interest rates to make an informed decision.

While looking for a personal loan for bad credit, ensure that you also pick a reliable lender. This is essential because there are many predatory and fraudulent lenders out there that may try to exploit your vulnerable situation.

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Understanding the Risks of Predatory Lending Practices

At Salad Money, our rigorous application processes mean that you’ll never be offered a loan that isn’t right for you. However, it’s important to be able to spot predatory lenders, as it may not always be obvious. These lenders engage in practices that could end up making your situation worse. Here’s what to look for.

Incredibly high interest rates: Charging exorbitant interest rates that are far higher in comparison to other lenders is a very evident red flag. While most bad credit loans come with comparatively higher interest rates, it is always a good idea to compare a few direct lenders before committing to one. Getting stuck with high interest rates can not only make it difficult to repay the loan but also lead to a cycle of debt.

Hidden fees: At Salad Money, we have no hidden or upfront fees. However, predatory lenders often charge very high loan fees along with hidden fees like application fees, early payment fees, etc. These are incredibly unfair and could end up costing you far more in the long run.

Short repayment terms: Offering a very short repayment period, some lenders actively make it difficult for you to repay the loan. This increases the possibility of default and financial stress.

To avoid the traps of such predatory lenders, make sure you carefully review the loan’s terms and conditions and consult a professional if you feel stuck.

Frequently Asked Questions on Bad Credit Loans

With our More Than Your Score loan application, we don’t conduct credit score checks or count bad credit scores when reviewing applications. Instead, we use a unique affordability assessment system that analyses your current affordability using open banking. This allows us to lend to employed individuals who need it, regardless of their credit score.

Please check the homepage for our latest interest rates. Whilst interest rates on loans for bad credit vary depending upon the lender and your credit history, we pride ourselves on our affordable, direct lender rates.

Salad Money offers loans of between £500 and £1,000 when you need it most.

Offering same or next day approval, typically we deposit the loan in your bank within 4 hours. Our speedy service is designed to deliver you the cash you need, when you need it most.

Yes, many people use bad credit personal loans to consolidate their debts. This not only helps to simplify debt repayments but also reduces the total cost of debts.

Why Choose Salad Money?

While looking for a bad credit loan, the first thing you should think about is finding a trustworthy and reliable lender. Not only is this essential to ease the borrowing process, but also to help you find safe, secure and fair loans.

As a highly rated and fair, reputable lending company in the UK, we specialise in offering bad credit loans for people looking for financial support when they need it most. At Salad Money, we’ve made fair and affordable credit available to millions of people, regardless of their credit history.

Our More Than Your Score loans are created to provide essential support without burdening you with additional financial stress. Helping you make the most out of your finances in tough times, we aim to make our loans accessible, even for people with a bad credit history.

What’s more, we understand that your credit score isn’t the best way to judge your ability to repay a loan. We rely on our unique and fair affordability assessment system, which allows us to evaluate your creditworthiness accurately. Our goal is to help you get the loan you need, even with a low credit score.

As one of the leading bad credit loan providers for employed people across the UK, we deliver absolute customer satisfaction. Ensuring you get the support you need, our bad credit loans are available for all private and public sector employees looking for urgent cash.

At Salad Money, we believe in responsible, transparent and easy lending with your best interests at heart throughout the lending process.

To learn more about our services, click here or get in touch with us now!

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