Apply to Borrow £500

Do you need to apply for a £500 loan to cover a financial emergency? Perhaps you’ve been landed with a big vet’s bill, or you need to send your car in for unexpected repairs. These things happen; however, you might be concerned that a bad credit score could prevent you from borrowing the money you need.

Searching for a loan with Little Loans’ credit broker service is straightforward, and you don't have to wait long to find out if you are eligible.

Can I apply for a £500 loan with bad credit?

You can check your eligibility to borrow £500 even if you have a bad credit score. Little Loans work with direct lenders who specialise in providing loans for people who have had credit problems in the past.

Bad credit lenders make the decision to lend to a customer based on several different factors, such as your credit report, as well as your current financial circumstances. A lender will want to understand your income from your job or any benefits you are entitled to and compare this with your outgoings, such as your rent or mortgage payment, utilities, and council tax, to ensure that the loan is affordable for you.

Where can I apply for a £500 loan online?

Little Loans is a credit broker - we don't lend any money ourselves. Instead, we could help you save time by searching for a loan for you. We work with a panel of lenders authorised and regulated by the Financial Conduct Authority (FCA) to try to match you with the right loan for your circumstances.

How do I apply for a £500 loan today?

You can check your eligibility for a loan using Little Loans’ Eligibility Checker. You'll be asked about your financial situation, as well as some personal details such as:

• Your employment status;
• How much you earn and any benefits you receive;
• Your monthly expenses – here, you should include things you regularly pay for, such as your rent or mortgage, council tax, and utility bills; and
• Your address, email, and phone number.

The Eligibility Checker will show you your chances of being matched with a lender.

What is the difference between a soft search and a hard credit check?

If you decide to use Little Loans as your credit broker, we will perform a soft search using your details. A soft search doesn’t leave a mark on your credit rating and is visible only to you on your credit report – other lenders will not be able to see it.

If you complete a soft search at Little Loans, are matched with a lender, and decide to make a full application, you will undergo a hard credit check – this is sometimes called a full credit check. This will be visible on your credit report and will affect your credit score.

One of the reasons why people choose to use a credit broker like Little Loans is so they can access a wide panel of lenders at the same time without having to undergo multiple hard credit checks, which can damage your credit score.

Can I borrow £500 without a credit check?

The Financial Conduct Authority (FCA) requires all authorised and regulated lenders to assess borrowers’ affordability before approving a loan. A full credit check is a vital part of this process.

Why do Little Loans ask for my bank account details on the application form?

When you fill out the application form at little-loans.com, we will ask you for your bank account details, including your sort code and account number, and what type of debit card you have.

Little Loans only ask for your bank details to check your identity. We will never use this information to take any money from your account. We do not charge any fees and will never ask you to send us payment of any kind.

How soon will I receive the loan?

If successful, the money could be sent the same day your £500 loan application is approved. The actual time it takes for the money to appear in your bank account may vary as this depends on your bank’s processes. It may take longer to receive your loan into your account if you apply on a bank holiday or at the weekend.

Do I have to pay my loan back in full on my next payday?

No, you don’t have to repay the amount borrowed in full on your next payday. Little Loans do not search for payday loans; instead, we work with lenders to match customers with short-term loans. With a short-term loan, you can repay the amount borrowed in instalments instead of one lump sum.

How long do I have to repay a £500 short term loan?

If you apply for a £500 loan and are accepted by one of our lenders, you’ll have three repayment term options – 3, 6, or 12 months. You should choose the one that is the most convenient to your financial situation, but it’s important to know that the longer your repayment term, the more interest you will pay.

Your payment will be collected on the same day every month by Direct Debit or continuous payment authority (CPA). To make sure that there's enough money in your bank account to make a repayment, you might want to arrange your Direct Debit to go out on the same date you get paid every month.

What if I cannot repay my loan?

Before you apply for any credit product it’s important to look at your income and outgoings and make sure you’ll be able to comfortably afford the monthly repayments without this affecting your other bills.

People’s circumstances change, however; we understand this. If you feel that you will not be able to make your next loan repayment in full or on time you should contact your lender as soon as you can to let them know. They will want to work with you to help you get back on track.

If you feel that you need to talk to someone about your financial situation, if you’re struggling with debt, or if you’d like to explore any further help you could be entitled to, you might benefit from talking to a trained debt advisor. You can access free support from charities such as or MoneyHelper or you can take the StepChange Money Health Check quiz.