Representative 535%​ APR.

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If you're looking for a loan but you’ve had credit problems in the past it can be difficult to find a lender willing to lend you money. If this is the case, you may have to consider applying to a lender who caters for those with adverse credit.

Try our loan calculator

You can see how much a loan from Satsuma would cost by using our calculator. Use the sliders to choose how much you'd like to borrow and for how long. The calculator will show you how much your monthly repayment will be along with the interest charged and the total amount you'll have to pay back.


Why choose Satsuma?

Satsuma has a proud heritage. We’re pleased to be part of the Provident Financial Group who’ve been lending our customers a helping hand when others won't for well over a century. We know our stuff and we know our customers. In return, our customers trust us to provide a friendly service.  The last thing we want is for our customers to take on debt they can't afford. Whatever your credit history looks like, we’ll do our best to make sure the loan you take from us can be paid back in manageable instalments.

Our views on additional charges is quite clear. We don’t charge them. You only ever pay the interest agreed when you complete your application. Before you take a loan from us, you’ll know exactly how much you’ll owe, and this figure will never change. We believe in being totally transparent.

Money in 1 hour

If approved, in most cases hourly pay-outs between 6am-11pm

No hidden fees

Only ever pay back the amount we agree upfront

Our reviews

Our customers rate us 4.68 out of 5., July 2019

Check before you apply

Just answer a few questions online and we'll tell you how likely you are to be approved for a loan from us. We will search credit reference agencies, but this will not leave a record on your file. If you've had credit issues in the past, checking can provide peace of mind and reassurance when applying for a Satsuma short term loan.

We check your info

Give us a few details and you'll find out in 60 seconds if you're likely to be accepted

Protect your credit score

No matter the result, it won't affect your credit score unless you choose to apply

Complete a full application

If you choose to apply, we'll then run a full credit check which will leave a mark on your credit file

What are bad credit loans?

These are often referred to as loans for people with a poor credit history, loans for borrowers who may find it difficult to get credit from traditional lenders.

Can you get a loan with bad credit?

When you apply for any loan, the lender will do a credit check. This plays a big part in whether or not they’ll decide to lend you the money you ask for. Each lender has different criteria as to how they make a decision.

Lenders who offer bad credit loans might consider your application even if you've had credit problems in the past. Applications are not automatically accepted; poor credit loans are still subject to credit and affordability checks.

What are no guarantor loans?

Some lenders ask you to provide a guarantor when you apply for a loan. A guarantor is usually a family member or friend who promises to repay the loan if you're unable to. But lenders who provide ‘no guarantor loans’ don't insist on this. If you apply for a loan from Satsuma, we won’t ask you to provide a guarantor.

Why do people need bad credit loans?

Bad credit loans can be seen as an alternative if you are unable to access credit from traditional high street lenders due to adverse credit history.

If you can’t get a loan or any other type of credit from high street lenders, it can make things difficult if an emergency arises.

In some instances, the borrower may have no credit history whatsoever. This can potentially prevent you from accessing credit.

In these instances, short term loans can be seen as an alternative method of accessing finance. Short term loans do usually have higher rates of interest.

It’s situations like these which may prompt you to consider searching for a bad credit loan. This type of finance can be for someone facing an emergency and gives alternative means of money. Especially if you’ve got a poor credit history or have struggled to get credit from mainstream lenders.

Why is it difficult to get a loan with a bad credit history?

If you’ve found it difficult to get credit, whether it’s a loan, credit card or even a phone contract, it might be because you have a low credit rating.

When you apply for credit from a bank or similar provider, the lender will use your credit history to calculate the risk of giving you a loan. They can refuse your application if they think the risk is too high.

Lenders base some of their decisions on the contents of your credit file, which they request from one of the UK’s three credit reference agencies.

Although the lender will take many factors into account when making their decision, one of the most influential is often your credit history and current credit score.

Can you borrow money with poor credit?

Unfortunately, there's no ‘one size fits all’ answer to that question. Yes, it is possible in some circumstances to borrow money with bad credit. However, a number of lenders won't consider lending to you if you’ve had credit problems in the past.

Some lenders do consider applications from those with poor or bad credit who may consider giving you credit. However, they will still take your personal circumstances into account and the APR will be higher on these types of loans.

Can loans improve your credit rating?

You may have read that taking out a loan and making your repayments on time can improve your credit rating. And this is true to an extent. Your credit file records payments you make against your loan and this could increase your credit score. 

However, your credit score probably won't improve if you default on other lines of credit. So, while loans can in theory improve your credit rating over time, you do have to take into account all the other credit arrangements you currently have and any issues you've had in the past.

What is a bad credit history and why do I have one?

Having a bad credit history or a poor credit history means that at some point in the past you've had difficulties repaying a loan, credit card or some other form of credit. Perhaps you missed some car repayments or couldn't manage the water bill, which may have resulted in a County Court Judgement (CCJ).  Your credit file holds all this information.

What is a credit file?

When a lender receives your application for a loan, they’ll request a copy of your credit file from one or more of the UK's credit reference agencies.  You may have heard of Experian but CallCredit and Equifax also compile their own reports.

Each report may differ slightly, but they all contain your personal information such as address and date of birth. They also have a record of all the credit cards and loans you’ve had and your history of repayments.  The file will also contain details of any missed payments, CCJs and other financial information.  All this data is aggregated into a credit score.

Satsuma short term loans, an option for those with bad credit

Even though you may have had problems in the past and currently have a poor credit history, you may still be able to get a loan from Satsuma, subject to affordability. We do also take your individual circumstances into account.

With our loans, you can borrow a lump sum of up to £1,000 (subject to affordability) even if you’re a new customer. You can choose to repay the loan in instalments over a period of up to a year. And we won't ask you for a guarantor. More importantly, we won’t levy you with any additional charges and we don’t do late payment charges either. All you pay back is your loan amount, plus the interest we agree upfront.

Satsuma do have an obligation to report missed or late payments to the CRA, therefore non-payment can impact the ability to get credit in the future.

We also offer flexible repayment options. You can repay your loan by either monthly or weekly instalments. Whichever suits you best. This flexibility can help you manage your repayments. You can schedule them to match the day your wages are paid.

If you apply for a Satsuma short term loan today and we approve your loan, we’ll send the money within the hour. **

Common questions about bad credit loans

How do I get a loan with bad credit?

As we mentioned earlier, all lenders use different criteria to decide if they’ll lend you money. If you're looking to borrow money with bad credit you may be rejected by one lender but approved by another. Making too many applications for credit can also have an adverse impact on your credit score.

How do I get a loan with bad credit and no guarantor?

One route you may have considered is a loan requiring a guarantor if you have bad credit.

Some lenders, including Satsuma, do consider loans for people with bad or adverse credit without asking for a guarantor (subject to affordability). Most of these lenders will have a website and you can apply online.

Can I get an instalment loan with bad credit?

All types of loans are still subject to status. But some lenders do provide the flexibility of paying by instalments. Typically, repayment periods of loans for poor credit can be over three to twelve months. This can vary from one lender to another, however.

Can you get a loan with a low credit score?

It does depend on the lender. Each uses a different formula to decide if they’ll approve your loan application. Some lenders who offer bad credit loans may approve an application from you even if you have a low credit score.

Can I get a loan without a credit check?

Every lender will carry out a credit check. This is because the credit check will not only reveal your credit history but will also confirm your identity. This helps prevent fraud.

Can I get a loan with very bad credit from a direct lender?

There are no guarantees, but some direct lenders will consider applications from borrowers with very bad credit. By the way, a direct lender is a company like Satsuma which lends money directly to you. In other words, there's no broker or middleman involved. As a new customer, you can apply for a loan directly through Satsuma, we do occasionally use brokers too.

* Approval for a Satsuma Loan is subject to successful completion of affordability and identity checks. Satsuma Loans are only available to UK residents who are at least 18 years old and have a valid UK bank account and debit card.

**If approved, hourly pay-outs between 6am-11pm