Warning: Late repayment can cause you serious money problems. For help, go to MONEYADVICESERVICE.ORG.UK

The Answer To Your Cash Needs

Representative 277.5% APR

Representative Example: Borrow £700 and pay £111.27 per month for 12 months at an interest rate of 140% per annum (fixed).
The total charge for credit is £635.24 The total amount repayable is £1335.24. Representative 277.5% APR (variable). Your APR rate will be based on your circumstances

Non-payment could have a negative impact on your credit rating and have increased charges and interest rates.

The Great Things About KnightFinance

Super Fast Process

You could get money directly into your account after just a 15 minutes application.

Affordable Finance

Get the cash you need without the usual high costs, because of our wide range of lenders.

Low Interest Rates

Compare lenders to make sure that you get the lowest possible rates.

Unsecured loans

There’s no need to put any collateral against your credit, all our loans are unsecured.

Personal Loans that are Unsecured

It is so easy to get the finance you need today. Here at KnightFinance we pride ourselves on finding the right payment plan to suit anyone’s individual needs. Whether you are looking to borrow a small amount over a short period or are looking for much larger finance agreement we are able to help. Also known as personal loans or signature loans, unsecured loans are becoming a massively popular alternative to the standard bank loan. What unsecured refers to is how the finance is issued depending on the individual’s creditworthiness. Now when that comes to a bank loan, yes this is regarding your credit score, often making it difficult to get the finance you need. However, when we are talking about a loan that is not from a bank this is not the case. Many companies and lenders will not look at your credit score and will gauge your ability to repay on your current employment. So what is an unsecured loan really? This is quite an easy one, all it means is that the loan is not guaranteed by a property or vehicle. Because the lender does not have a source of collateral, just in case you default on payments for whatever reason, the interest for these loans can sometimes be higher than their counterparts. For those with bad credit, though, they are perfect for getting you back on track.

Direct Lenders for Bad Credit

If you have to juggle bills and expenses each month with credit card usage up to its maximum limit, you’re not alone. It is truly a headache trying to figure out where to get some extra cash especially when you have bad credit. Fortunately, many lenders in the market offer loans for those with bad credit.

Lenders for bad credit definitely differ from mainstream banks, which is why you have to understand how matters work with these low rate lenders and the loan products they offer. If this interests you, read on and get to know the ins and outs of working with lenders for bad credit to ensure that you know what you’re getting yourself into.

First, understand what bad credit means.

Credit bureaus or credit reporting agencies collect and compile your credit history, which becomes your own personal credit report. Financial institutions utilise the details in your credit report to calculate your credit score. The score system may vary, but in general, credit scores can range from 300 to 850 points.

The number of points or score you’ll get is based on your past credit activities and how well you are in making repayments, and how you manage your overall finances. Your credit score determines your creditworthiness and how likely you are to be approved for a loan, for how much, and at what APR (annual percentage rate).

Finding the Best Lenders for Bad Credit

Higher numbers equate as good credit scores. Lower credit scores represent poor or bad credit. Majority of lenders perceive borrowers with scores lower than 620 as credit risks. Scores ranging from 500 to 579 fall under the category of poor credit, while those ranging from 300 and 499 are already considered as bad credit.

Missed repayments for previous loans and large credit card balances are indicators of poor or bad credit. Bankruptcy, late or missed payments for past loans, loan default, repossession, foreclosure, multiple loan applications, and excessive use of credit cards can be some of the reasons why you have bad credit.

Taking out a Loan with Bad Credit

With a bad credit, getting a cash loan will be twice as hard. If you’re lucky enough to get one, interest rates or APRs are shooting up sky-high. Furthermore, your credit company may lower the credit limit for your credit cards, too.

If you have a bad credit, direct lenders installment loans for bad credit may be cautious to work with you. With a bad credit, you are considered as a high-risk borrower, making it more difficult and costly to get loans. However, there are many direct lenders that exist specifically for people with bad credit and need immediate cash.

Interest rates of bad credit loans are known to be insanely high. You can understand this because of the risk involved. Moreover, most of the loans offered by lenders for bad credit are unsecured type of loans, so the risk is heightened even more. If you have a bad credit score and get a loan offer, expect to pay more on interest rate, fees, and other charges compared to those who have good credit rating.

While you may choke on the ridiculously high interest rate of these loans, remember that it is already a good thing to get a loan offer even with bad credit than having nothing at all. Take it as a chance to rebuild your credit score, so that you may qualify for better deals on your next loan application. As long as you pay back your loan on time, your credit score will increase eventually.

Lenders for Bad Credit

When you search for a loan, it’s either you work with a direct lender or with a loan broker. Loan brokers serve as the intermediary for your loan, which means they reach out different lenders for you to choose to get the money you need. If you’ll work with a direct lender, on the flipside, you’ll be working with only one company, the direct lender itself, from start to the end of your loan experience.

Lenders for bad credit typically offer small, short-term loans such as payday loans and other quick installments loans. The loans they offer are ideal for any immediate financial need or emergency expenses. The loan application process is quite easy and quick. You’ll just have to complete an online loan application form on the direct lender’s website and submit it. If approved, the direct lender will transfer the money and you’ll have them within the day.

However, you should only borrow from licensed lenders for bad credit. Licensed lenders are authorized to operate and conduct business in your area of residence. These unsecured lenders are monitored and surely comply with all federal lending rules and regulations. In other words, you can be sure that you are not paying more than you should, and you are safe working with them.

What to look for in a Direct Lender for Bad Credit?

Lenders for bad credit should mention all the loan features and clearly explain all applicable rates and terms, including those related to any missed or late repayments as well as early loan settlement.

A direct lender for bad credit should also be transparent with all of the loan rates and terms on their website. If they are authorized and licensed, they will also have links that display their federal licenses, which show that they are legally allowed to lend in that area.

The direct lender must ensure that your personal information is safe and protected. There are lenders who would share your personal information to third parties.

An authorized direct lender is required to a conduct credit check on every applicant to see if you are eligible and to make sure you can afford the loan repayments. You may find some direct lenders marketing “no credit check” loans. However, this doesn’t mean your personal and financial status will not be checked.


Taking out a loan from a direct lender for bad credit can be huge help for your finances. Just make sure you can afford the repayments, and that you will make payments on time. Loans offered by a direct lender for bad credit can be very costly with a very high APR, but they’re short-term so you can settle them right away. Avoid missing payments, as fees and interest can easily build up on top of your loan.

Majority of lenders for bad credit in the UK operate solely online. This may speed up the process and provide convenience to consumers, but careful in choosing the direct lender you will work with. Not all loan websites and lenders are authorised or licensed to operate and conduct business.

Trusting the Best Lenders for Bad Credit