Quick Loans

Cara Bradley

Written by

Cara Bradley

6 min read

Updated: 15th December 2023

Life can be unpredictable. One minute you have your finances in order and everything is fine and dandy; the next, your car decides that it no longer wants to play ball, or your washing machine breaks down, spilling water all over your kitchen. These are frustrating head-in-hands moments that can leave us worried about expensive repair bills.

If you need funds in a hurry, Viva Money might be able to help you.


What is a quick loan?

When the unexpected occurs and threatens to leave you out of pocket, a quick loan could be a temporary solution to tide you over.

It’s worth noting that a loan can’t really be considered ‘quick.’ If you are approved for a loan, the time it takes for the money to appear as available in your account depends on your lender, and the policies and procedures of your bank.

Who can apply for a quick loan?

To apply for a quick loan with one of Viva Money’s lenders, you must:

  • Be aged 18 or over;
  • Be a UK resident with a UK address;
  • Have a UK bank account with a valid debit card; and
  • Have a regular source of income paid directly into your bank account.

Lenders will also take your credit history, credit score and employment status into account – we chat about this in more detail below.

Can I apply for a quick loan with bad credit?

We welcome all credit scores to search for a loan with Viva Money.

You can apply for a quick loan with bad credit, although your options may be limited. Some of the lenders on our panel specialise in loans for those with bad credit, although it’s worth bearing in mind that interest rates may be higher, and you may not be able to borrow as much as you’d like. For more information, and tips on how to improve your credit score, head over to our Loans for Bad Credit page.

Can I apply for a quick loan if I’m unemployed?

Your employment status is one of the things lenders will look at when deciding whether to offer you a loan.

Being employed and in receipt of a regular income suggests to lenders that you will be able to comfortably afford your monthly loan repayments.

If you are unemployed, it is unlikely that you will be approved for a loan, although it’s worth noting that some lenders may consider long-term disability benefits as a form of income.

For help and advice on what options may be available to you, please visit MoneyHelper.

How much can I borrow?

Depending on your individual financial circumstances, you could borrow between £100 and £10,000, over loan terms of 3 to 60 months.

Never borrow more money than you actually need, or can afford to repay.

How long will it take to receive my money?

Every lender is different when it comes to how quickly they pay out the money. If approved, this is something you may like to discuss with them in advance, especially if you need the money as soon as possible.

Some lenders send the money the same day your application is approved. However, the time it takes for the money to appear in your account could depend on your bank’s policies, and whether they accept Faster Payments.

How do I apply for a quick loan?

We’ve been in the financial services industry long enough to know that no one appreciates over-complicated application forms. Who’s got time for that? This was at the forefront of our mind when we put together our simple, online form, which has been designed to save time and cut out the confusing jargon.

We’ve broken the quick loan process down, so you know exactly what to expect.

Step one

Choose your preferred quick loan amount and term, and complete the application. Please answer all questions as accurately as you can, as this will help us find a loan suitable for you.

Step two

You can relax for the next minute, while we do our thing.

Our soft search takes just 60 seconds, which gives you enough time to devour a slice of rocky road, or water your cheese plants.

We’ll scan our panel of lenders for a suitable match.

Our soft search will not impact your credit score in any way – hip hip, HORRAY! 🎉

Step Three

If we have matched you to a lender you will be redirected to their website to make a full application. You’ll be presented with the terms of your loan offer; these could be subject to change. If you’re happy with the loan offer, you will complete some further checks and undergo a hard credit search. To help speed up the process, it’s useful to have things like ID and wage slips to hand.

Hard searches could appear on your credit file for up to 12 months. Too many hard searches over a short space of time could have a negative impact on your credit score.

Step Four

If approved by the lender, you will be sent a loan agreement. Be sure to read this carefully before accepting. Double check that you can comfortably make the monthly repayments. If you are happy, you can sign the agreement and arrange for the money to be sent to your bank.

Viva Money will provide every effort to find you a loan. If we are not able to do this, we may transfer you directly to alternative firms and services, such as credit building tools, which may incur a monthly fee if you choose to use them. You are, of course, not obliged to use them if you do not feel it’s right for you or your circumstances.

Things to consider before you hit that ‘apply’ button…

When an emergency arises, it can be hard not to feel overwhelmed. Of course, incidents like a packed-up car or a broken appliance can leave us feeling anxious, but it’s so important to take a step back and look at the bigger picture.

We would hate for you to find yourself in a position where you’re unable to make your monthly repayments; the last thing you need is financial stress. If this is the case then be sure to let your lender know as soon as possible.

Here are some things to think about to help you make the right decision.

Before you apply for a quick loan

  • Could you consider any other alternatives, such as saving up for a couple of months?

Before you accept a quick loan:

  • Never borrow more money than you need or can afford to pay back.
  • Make sure that you can comfortably afford the monthly repayment without this affecting your other essential bills or existing credit commitments.
  • Falling behind on or not making your monthly repayment on time could cause you serious money worries and result in added fees, as well as a decline in your credit rating.