How to apply for a loan

We offer short term loans ranging from £200 to £1,000 and you can choose to repay over 3 to 6 monthly instalments.

Our application is 100% online and is fully responsive so you can apply on a desktop PC at home, or a mobile phone and tablet on the go. The application is always the same no matter what device you use and asks you to fill in a few simple questions including age, address, employment status, salary and bank details.

The application form only takes a few minutes to complete and you will receive an instant decision letting you know if you have been provisionally accepted. It is completely free to apply as there are no upfront fees. As a direct lender, we will be the ones processing your application and funding your loan if successful – there are no middlemen or brokers involved.

Sign the loan agreement

If you have been provisionally accepted and passed our initial checks, you will be sent a loan agreement to your email address. This will highlight all the terms and conditions of your loan including loan amount, amount repayable and repayment dates.

We appreciate that when people apply for a payday loan or short term loan, they cannot spend days for the application to process or wait for a response. So to avoid having to print off the loan agreement, sign it and send it off in the post, we allow our customers to electronically sign or 'Esign' the document.

Application will then be underwritten.

Once you have signed the agreement, your loan will be forwarded to our Underwriting team to carry out some final checks. We will also run some affordability assessments to evaluate how much you can borrow and we may request a copy of your most recent payslips or bank statements to do this.

Funding in one hour

If we have fully approved your application, the funds will usually be in your bank account within one hour.

Reasons for applying

We state very clearly that loans from Mr Lender are supposed to be used on a temporary basis (only a few months) and not as an alternative to long-term finance. Short term loans are not generally recommended for frivolous spending such as presents, holidays or luxury goods, but instead for emergency purposes such as:

  • Car repairs
  • Urgent home repairs
  • Medical, dental and vet bills

The expenses above will often cost a few hundred pounds, and having this kind of disposable income available isn't always possible – especially when these types of bill can come out of the blue.

But with a loan from Mr Lender, you can borrow the money you need to pay to cover your situation, and you have the flexibility to repay the loan over 6 months if you need to.

What happens if my loan application is declined?

In the event that your application is not successful (if you have given your consent) we may pass your details to one of our third party introducers who could be able to facilitate other loan options for you. In this regard, Mr Lender is acting an introducer, with permission from the Financial Conduct Authority to undertake credit brokerage.