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If you have a poor credit history but want to borrow money, then you may be searching for a bad credit loan. Although there is no such product as a ‘bad credit loan’, it is a common term for a personal loan for those with less than perfect credit.

Why choose us?

If you are looking for loans for bad credit, then we offer flexible, short-term loans with repayment options of 3 to 12 months.

We do not charge fees for missed or late payments, and there are no application fees. You only pay what you agree upfront.

Our application process can be completed online, subject to affordability checks. You can also check your eligibility before you apply without harming your credit score.

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

Satsumas loan calculator

If you are considering borrowing money and you have bad credit, it’s important to understand exactly how much it will cost. With the Satsuma loan calculator, you can get an idea of what your repayments will be, putting you in control of finding an option that’s most affordable for you.


Check before you apply

With Satsuma, customers can check to see if they’re eligible for a loan without affecting their credit rating. If you then decide to complete a full application this is when we conduct a full credit check.

It is worth noting, that a record of your loan applications will be present on your credit file if you apply for a Satsuma Loan. This will be visible to all lenders to help them decide whether to accept your application. In some instances, it may dissuade them from lending you money, if  your record shows you have struggled to borrow money from different companies.

But by checking before you apply, you can find that out beforehand. If you are looking for loans for poor credit ratings and want to see whether you would qualify for one of our short-term loans, then we can tell you if you would be eligible within 60 seconds. Checking does not have an impact on your credit score.

Unless you go on to apply for the loan afterwards, then checking will not affect your credit score.

We check your info

It's not a full application so we only need a few details

Protect your credit score

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

Give you your results

You'll find out in 60 seconds. We'll need to check your details if you chose to apply*

What are bad credit loans?

Here are some of the things you need to know about when searching for loans for bad credit and what Satsuma offers.

As mentioned earlier, when people talk about bad credit loans or poor credit loans, they usually mean they want a loan that is available to them even if they may have struggled to manage debts or had CCJ’s in the past. However, it’s important to be clear that there is no actual product known as a ‘bad credit loan’. It’s a commonly used term, but there is no specific type of loan with that name.

You may discover that there are some lenders who are more willing to provide loans to customers if they have a less than perfect credit record.

These lenders will still look at your credit history, but their rates of interest are likely to be higher than traditional high street lenders. This is also true of Satsuma loans.

With Satsuma, a bad credit history won’t necessarily mean we won’t lend to you, we do consider applications from those with an adverse credit history.  If you are looking for a poor credit loan, then a short-term loan from Satsuma may be an alternative, subject to affordability.

Why is it difficult to get a loan with poor credit?

Your credit score is based on the information held about you by credit reference agencies. Sometimes that is called a credit report or credit file, but it is based on your credit history.

Most potential lenders are interested in your most recent financial situation because that shows most clearly how safe it is to lend to you. But your credit file will show your financial record for the last six years in total. For example, if you have ever missed payments or received a County Court Judgement (CCJ), then that can harm your score.

 Therefore, a bad credit score can make it harder to get a loan because it means that you are likely to be classed a riskier borrower. Because of that, some lenders choose not to accept applications from customers with a poor credit history.

 However, if you have a less-than-perfect credit history, it won’t necessarily stop you from being able to borrow money. There are some lenders who will still consider bad credit applicants and are willing to lend to them. However, the interest charged for bad credit loans is higher compared to traditional lenders.

How can I check if I have a bad credit score?

You have a right to see what is in your credit file. If you want to borrow money with bad credit, then you can find out exactly what has influenced your credit score.

After all, if there are any errors, then you can ask for them to be corrected, which can improve your score.

There are three key credit agencies in the UK, although a few different brands use their information to provide people with their credit scores.

These agencies are:

  • Experian
  • TransUnion
  • Equifax

You can always access your credit score for free through any of the agencies, but if you want to see your full file, these agencies may ask for payment.

However, some credit services offer access to the full file for free, such as ClearScore or Noddle (now called Credit Karma) so it is worth looking around to find a free option.

Can I get a loan with ‘bad credit’ from Satsuma?

With Satsuma, you can apply for short-term borrowing that may suit some people who are searching for a bad credit loan.

Even if you have had difficulties managing credit or bills in the past, you may be able to qualify for a loan with Satsuma – subject to affordability.

We will run a credit check, but a poor credit history does not necessarily mean we won’t lend to you. We take every applicant’s personal circumstances into account when we make our decision.

If you do want to borrow money with bad credit, then you can see if you would qualify for a short-term Satsuma loan by checking before you apply.

Does Satsuma do no-guarantor loans for bad credit?

Because people who want loans for bad credit are often riskier than more mainstream customers, some lenders can insist on only offering a loan if someone you know acts as a guarantor.

That means the guarantor will become responsible for the repayments if the borrower fails to make them. Some borrowers don’t have a potential guarantor or don’t want to ask a family member or friend.

So, if you are looking for loans for bad credit with no guarantor, then a short-term loan from Satsuma may be one alternative. Satsuma loans never ask for a guarantor, and we will consider every application on its own merits.

Are Satsuma a direct lender?

Yes, Satsuma Loans are a direct lender.

If you come to us when you are looking for a bad credit loan, you will be applying straight to the lender and not just a broker (although on some occasions we too use brokers).


Common questions about bad credit loans

How can I get a loan with bad credit?

When you look online for how to find a loan with bad credit, there are dozens of adverts for lenders and brokers. 

But before you apply for a product, it is a good idea to find out what rate they will offer you first.

Some lenders that provide loans for people with bad credit will also offer a soft-search option first, where you can check you would be accepted and what rate you would pay.

That way, you can be sure you will qualify for a loan with bad credit before you apply and leave a mark on your credit file.

Can I get an instalment loan with poor credit?

Some people who need to borrow money with poor credit may feel that a payday loan is the only option. A payday loan is however a debt that usually has to be repaid in full on the following payday.

In some instances that can leave the borrower short for the following month. Some people prefer an instalment loan, where the debt is repaid over several months.

It may well be possible to get an instalment loan with poor credit from a lender like Satsuma Loans, so don’t assume a payday loan is your only option, there are other alternatives.

That will, of course, depend on your circumstances and affordability but don’t assume that a poor credit history means you won’t qualify for an instalment loan.

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

Some lenders who accept borrowers with bad credit can also ask that they also have a guarantor. That’s because bad credit means you may be more of a risk, so lenders  want to be sure that someone else will step up to pay the debt if you don’t.

However, not every lender demands a guarantor, even for borrowers with poor or bad credit. At Satsuma Loans, we never ask for a guarantor, and we will consider every application on its own merits.

So, if you have bad credit and don’t want guarantor loan, then we may still be able to help you.

If your question isn’t answered above, you can call our customer service team on 0800 694 0004.

* 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.