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What are short term loans?

Short term loans are small personal loans (normally between £100 - £1,000³) that should be used for emergency or unexpected expenses when you need the money.

Our short term loans offer a solution to short term credit needs. They are loans that are paid directly into your bank account usually on the same day you apply².

What can a short term loan be used for?

Short term loans are designed to provide a solution to short-term financial emergencies.

Some examples of when a short term loan can be used:

  • To pay an unexpected bill
  • To fix a broken down vehicle
  • To pay for emergency child care
  • To repair a broken boiler
  • To pay for emergency building work

Short term loans should only be used for short term financial needs and should not be used for longer term borrowing or if you are in financial difficulty.

Our short term instalment loans give you the option to split the repayments into 1 to 5 Instalments with payments being made on consecutive pay date(s). However, if you are looking for a longer term loan then you could visit our other site Ladder Loans.

How much can I borrow?

Payday Express offers short term loans of between £100 - £1,000³ (up to £650 for new customers) subject to status and affordability.

Please note: Should you require to repay your loan over more than 1 to 5 Instalments, it is suggested you seek an alternative credit facility. Short term loans would be expensive if used as a means of longer term borrowing.

If you require a loan for a larger amount then you could visit our other site Ladder Loans.

Am I eligible for a short term loan?

To be eligible to apply for a loan with Payday Express you must as a minimum:

  • Be 18 years old
  • Live and work in the UK
  • Be in employment, earning a minimum of £750 a month after tax
  • Receive an income directly into a UK bank account
  • Have a debit card for that bank account

If you can say yes to all of the above then you are eligible to apply for a loan today. You will then be subject to our credit and affordability assessments before we can determine if you are able to have a loan from us. If approved and subject to us not requiring any additional information or documentation from you, you could have the money in your account the same day you apply.²

Will it have an impact on my credit file?

Payday Express will carry out a credit check at the beginning of your online application.

The credit check will leave a footprint on your credit file as Instant Cash Loans Ltd visible to others viewing your credit file.

When you borrow from us, we will give details of your account status and repayment history to Credit Reference Agencies (CRAs). If you borrow and do not repay in full and on time, CRAs will record the outstanding debt, which could, in turn, adversely affect your credit history file at the CRAs.

Missing payments may have severe consequences including making access to credit more difficult, and/or more expensive, in future.

If you are concerned about your credit report there are several companies, which may offer you the chance to see it for free, such as Experian Credit Expert.


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All loans are subject to status and affordability checks. Customers must be 18+. Terms and Conditions Apply.

Occasionally we will be unable to confirm all details automatically. Should this be the case we may ask you to provide further documentation to complete your application.

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