Are you looking for an alternative to Drafty?


Did you want a line of credit? Have you been turned away? Did you want a short term loan? or did you think you were getting a loan when you applied but then realised they offer lines of credit instead?

Let’s look at some comparisons and then we’ll show you how LoanPig are a great alternative to Drafty credit line.

How Much Would You Like?

Representative example: Borrow £300 over 3 months @ 292% pa (fixed) Total repayment: £457.95 in 3 monthly payments of £152.65. Representative 1261% APR.

Drafty’s APR statement is as follows


“Drafty is a credit line with a Representative 89.7% APR, and a maximum APR of 91.2%. If you draw £50 against your credit line at 89.7% APR, it would be paid off in 6 months for a total of £60. There are no additional fees. There is no minimum repayment period and no maximum repayment period as long as you continue to repay the minimum payment amount. We don’t offer fixed loans under 60 days”

The statement looks great and when used in the correct way, there are a lot of benefits to Drafty’s credit line service, but if you cannot stick to the correct path, that’s when an alternative to Drafty comes in handy.

Drafty Alternative things to bear in mind


  1. They offer a recurring credit line similar to that of a credit card where you can pay the minimum amount or a small amount each month which means that you could end up just paying the interest off each month and never pay of the original amount you borrowed.
  2. If you are struggling to keep on top of your finances, the temptation is always there to keep topping up and putting yourself in further debt. With a traditional payday or short term loan you know exactly how much to pay and when it has be completed.
  3. Don’t be tempted to over borrow. If they offer you a credit line above your needs you may be tempted to use the money for trivial things and not emergencies, then regret it.

Drafty’s Fixed and representative APR are good when comparing them against some payday and short term lenders but not so good when comparing them to a credit card apr which is using the same model

How can LoanPig offer me a better service?


Take a look at the comparison chart below to see how a LoanPig short term loan compares to the rest of the payday lenders.

LoanPig 149% loans

Loanpig offer loans from £50 – £1500 over a term of 1 – 12 months, we will show you exactly how much you need to pay, on the dates you agree to, so there is no confusion over re-payments

If you have a poor credit score you may have been turned down by Drafty and LoanPig offer loans to people with bad credit ratings.


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In Summary


There are a number of reasons why LoanPig are a better option when it comes to borrowing money for a short period but there are also circumstances where Drafty might offer you a better alternative, either way, please borrow responsibly. Only take a loan or a credit line out if you really need the money and don’t put yourself in a financial stranglehold by signing up to something you know you cannot afford.