If you are comparing loans online, you may find that the interest rates on short term loan products look high when compared to headline loan rates advertised by high street banks or building societies.
One key reason for this is that short term lenders cater to lending to those with poor credit profiles or no credit history at all. This represents a risk to the lender as there is a greater chance that the borrower won’t make their repayments. This risk is passed on to the customers in the form of a higher interest rate.
Will a Short-Term Loan Negatively Affect my Credit Score?
If you fail to meet your repayments then yes, your credit score could be negatively impacted. Although this is true of any loan or credit product, not just short-term loans.
Conversely, if you meet all your repayments in full and on time then this could indicate that you can be trusted to manage credit well and may increase your credit score.
Am I eligible to apply?
- Be at least 18 years old
- Be a UK resident
- Have a UK bank account with a valid debit card
- Have a regular income.
Amount borrowed: ?1200 for 18 months Number of repayments: 18 Interest rate p/a: 49.9% (variable) Each repayment amount: ? Total amount repayable: ?
We want to be clear about how we will use your personal information when you use our website to find a product or service. Although full details are contained in our Privacy Policy, we wanted to draw your attention to the following important points:
So that we can match you to the right lender or broker on our panel, we will need to carry out a soft search. We do this by sharing the personal data in your application form with Equifax Limited who are a credit reference agency. We then share your application with certain lenders and brokers on our panel who will also carry out a soft search to assess your eligibility for the product or service you are using our website to find. Soft searches do not affect your credit rating and are only visible to you and the firm that made them.
For more information about how Equifax, a credit reference agency may use your personal information, you can read the Credit Reference Agency Information Notice here or you can ask Equifax for a copy. You can also read 
Equifax’s privacy policy here.
In order that we can provide the best possible service to our customers, we will profile your personal data. This means that we will use your personal data to build a more informed picture of you so that we can stay in contact with you about our similar products and services from time to time (see section 7 of our privacy policy). You can object to this profiling at any time by contacting us
Cashlady is not a lender but is a fully regulated and authorised credit broker which introduces borrowers and lenders for the purposes of entering into short-term unsecured loan agreements.
Cashlady does not charge customers a fee for using its broker services, but it receives a commission from lenders or other brokers if a customer enters into a consumer credit agreement with a lender or broker following an introduction through this website.
Cashlady 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 which may incur a monthly fee, such as credit building tools if you choose to use them.