Cash Loans

Cara Bradley

Written by

Cara Bradley

5 min read

Updated: 30/01/2024

Financial emergencies can happen to us at any time. Sometimes, when we need to pay an unexpected bill for example, our savings don’t always cover these necessities. In these situations, we might think about applying for a cash loan.

Viva Money is a credit broker, not a lender. If you’re looking to borrow money, we might be able to help you find a suitable cash loan.

We work with a panel of trusted lenders who offer cash loans from £100 to £10,000, with repayment terms between 3 and 60 months, depending on how much you borrow.

Who can apply for a cash loan?

Each lender has their own eligibility criteria when it comes to applying for a loan.
Usually, to apply for a loan, you should:

  • Be 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.

To search for a cash loan with Viva Money, you must meet the above criteria.

Can I get a cash loan with bad credit?

Some of the lenders on the Viva Money panel are happy to consider those with less-than-perfect credit scores. They will want to look at your credit history and understand your financial situation before making a decision about your application.

If you are approved for a loan with bad credit, it’s worth noting that you could be offered a higher interest rate or a more manageable borrowing amount.

Working to improve your credit score could mean that if you want to apply for credit in the future, you might find this means you have a larger selection of options at better rates of interest.

Can I get a cash loan with no credit history?

Having no credit history at all is sometimes referred to as having a ‘thin’ credit file. You could have a thin credit file if you have never paid bills or borrowed credit before.

Being approved for a loan with no credit history could be challenging. With no evidence of how you’ve managed credit in the past, lenders may see you as a risk. As such, if you are approved for a loan, the interest rate available to you may be higher to reflect this.

How can I improve my credit score?

There are a number of ways you can start taking steps towards a better credit score today.

  • Register to vote. Being on the electoral roll will link you to your current address and make it easier for potential lenders to verify you and your personal information.
  • Pay your bills and any existing credit commitments on time. Late and missed repayments can seriously harm your credit score.
  • If you have a credit card, be sure to stay well within your credit limit, and try to pay more than the minimum amount due on your monthly statement, if you can.
  • Check your credit report for errors and request that any incorrect information is updated by your credit reporting tool.
  • If you have a thin credit file, you might be interested in looking into a credit builder credit card. When used sensibly alongside other credit-building methods, these credit cards may help boost your score over time. You will, of course, have to manage any other borrowing you have in the same responsible way.

How can I search for a cash loan with Viva Money?

Our process has been designed to be as straightforward as possible. We understand how stressful unexpected financial emergencies can be and appreciate that the last thing you want in such situations is to wade through overly complicated forms.

Step one

Select your ideal loan amount and repayment term. You should only ever borrow the amount of money that you need and can afford to repay. Then, complete our online form. This shouldn’t take any longer than five minutes.

Step two

We’ll run a soft search on your credit profile and scan our panel of lenders for a suitable match. In just 60 seconds, we’ll show you your result on your screen.

Step three

If we’ve been able to find you a loan, you will be redirected to the lender’s website. Here, you will be guided through the next steps of the application and will be required to undergo some further checks, including a hard credit search.

Step four

Once the lender’s checks are complete and they are happy with the outcome, you’ll be sent a loan agreement. You should read this thoroughly before signing. Make sure that you’re comfortably able to afford the monthly repayments without this affecting any of your essential outgoings, such as your rent or mortgage.

I’ve been approved for a cash loan. How quickly can I get the money?

Each lender has their own schedule for sending approved loans. You might want to speak with your lender before making a full application to find out exactly when your loan will be paid. This way, you’ll know what to expect, and when.

Some of the lenders on the Viva Money panel are able to send your loan on the same day your application is approved, although the time it takes for the money to show in your account will depend on the policies and procedures of your individual bank.

I’m worried about my finances. Where can I go for help?

We’re really sorry that you’re currently facing money worries. The most important thing to remember is that you are not alone and help is available.
Sites such as MoneyHelper, Citizens Advice and National Debtline offer a range of free advice on various money and debt-related topics.

Viva Money and StepChange have teamed up to offer a Money Health Check quiz, which can be taken online for free. The answers you provide are strictly confidential and will generate advice on taking back control of your finances.