£300 Loans

Cara Bradley

Written by

Cara Bradley

4 min read

Updated: 12/01/2024

A £300 loan could help to cover the cost of a financial emergency, such as an urgent car repair, or a replacement washing machine if yours has suddenly decided to give up the ghost.


How long can I borrow £300 for?

Viva Money work with a panel of lenders who offer £300 loans over repayment terms of 3, 6, and 12 months.
This gives you the opportunity to spread the cost of the loan without having to pay it back all at once.

Can I search for a £300 loan with Viva Money?

You can search for a £300 loan with Viva Money if you:

  • Are over the age of 18;
  • Have a UK address;
  • Have a UK-issued bank account with a valid debit card; and
  • Have a regular source of income paid directly into your bank account.

Can I apply for a £300 loan with bad credit?

You can apply for a £300 loan even if your credit score is less-than-perfect.
Some of the lenders on the Viva Money panel are happy to accept applications from those with poor credit.

Getting approved for a loan with bad credit may be difficult.
While being accepted is possible, it’s important to remember that, if you are offered a loan, the rate of interest on your loan might be higher than a rate presented to someone with a better credit score.

I have no credit history. Can I apply for a £300 loan?

No credit history is often also referred to as having a ‘thin’ credit file.
This can happen if you have never borrowed credit or paid bills before.
A thin credit file could make obtaining credit more difficult should you choose to apply for a loan, or any other financial product. This is because the lender has no evidence of how you have handled credit in the past, meaning you may be seen as a risk.

Being approved for a loan with no credit history can be tricky. There are a number of lenders on the Viva Money panel who specialise in loans for people with a thin credit file.

How can I improve or build my credit score?

A low credit score doesn’t have to be forever. You may be pleased to hear that you can start working towards boosting your credit score today.

  • Register to vote. Being on the electoral register will make it easier for lenders to identify you and your personal information, including your current address.
  • Pay all your bills and current credit commitments on time. Falling behind on or failing to make repayments can seriously harm your credit score.
  • If you have a credit card, stay within your credit limit and make at least the minimum repayments every month. If you can, try to pay more than the minimum amount due.
  • Check your credit report for errors. Even something as simple as a misspelled address could have a negative impact on your credit score.
  • When used alongside other credit building methods, a credit builder credit card could help to improve your score over time. Use the card to make small, manageable purchases and pay the balance off in full each month. This shows lenders you can borrow responsibly.

If approved for a £300 loan, when will I receive the money?

Some of the lenders on our panel can send your loan the same day your application has been approved. The time it takes to show in your account will depend on your bank’s policies and procedures, however.

Every lender is different, and payout timeframes will vary.

You might want to speak directly with your lender to get an idea of their exact payout timeframe so you know exactly what to expect.

I’m worried about money; what can I do?

Many of us struggle with money worries at some point in our lives. We’re sorry to hear that you’re going through this.
Asking for help can be frightening, but know that this is the first step towards taking back control of your finances.

If you’ve taken out a loan or a credit card that you feel you can no longer repay, you must contact your lender as soon as possible. They will work with you to put an appropriate solution in place to help ease the burden moving forwards.

Free, impartial money and debt management advice can be found on sites such as MoneyHelper, Citizens Advice, and National Debtline.

Viva Money and debt charity StepChange have collaborated to launch a Money Health Check quiz. The quiz can be taken online for free, with no impact to your credit score. The answers you provide will generate advice to help you and your circumstances.