What Are £500 Short Term Loans?

There are lots of things in life that we have no control over, and when these things crop up we’re not always prepared for them. When it comes to your finances, probably the last thing you want is to come across something unexpected, like an extra zero added onto your rent or a bill for a broken boiler.

When this happens, you can turn to LoanPig for some help when you need it most.

When you need £500 short term loans you can turn to LoanPig, a short term loan direct lender to meet your financial needs. Most of the people who apply for other online payday loans, that are accepted, usually have the money in their bank accounts within a couple of hours, depending on their bank.


Why Do People Use £500 Short Term Loans?

There are lots of reasons why people take out £500 short term loans, but financial emergencies tend to be the most common reason. If your car breaks down unexpectedly, your boiler goes on the fritz, or your rent price suddenly goes up, a payday loan will keep you afloat until you can get back on top of your finances.

Under the right circumstances, a payday can be a better option than a bank overdraft or credit card because they can be paid back a lot faster and the charges are capped.


What Can £500 Short Terms Loans Cover?

While £500 short term loans won’t put you in the lap of luxury, but it can cover a lot of basic costs that are usually tricky to afford. With a £500 loan you could buy:

  • A standard fridge freezer
  • Basic boiler repairs
  • Standard car service
  • Small Home repairs

A £500 loan could be exactly what you need to get you through tough times and cover some of the expenses that have been keeping you awake at night. £500 short term loans can be put towards paying your rent, your utilities, your car fuel and any other bills that might be too big to manage.


How Do £500 Short Term Loans From LoanPig Work?

At LoanPig, we want you to have a £500 payday loan that suits both you and your financial situation. Our £500 payday loans are flexible, fast and available for everyone. Our innovative technology has allowed us to give you an application process that is both easy and efficient and we welcome all credit histories.

It is our job to find you a same day loan for the best possible rates. Not only are we a direct lender, we have a large panel of lenders, consisting of some of the UK’s leading short term loan lenders, who we can use as a back up to provide you with the £500 short term loan you need.

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.

Am I Eligible For A £500 Loan?

To take out £500 short term loans with LoanPig, you will need to meet our eligibility criteria. You must:

  • Be over 18 years old
  • Be a UK resident
  • Be either in permanent employment or receiving a pension/disability allowance
  • Have a bank account with a valid debit card
  • Pass our affordability assessment and meet our credit criteria

We take responsible lending practises seriously, so we are unable to accept the loan application of anyone that does not meet all of our requirements. If you do meet our criteria, however, you can be sure that we will do our best to put you in touch with the right lender for your loan.


How Do I Apply For A Payday Loan?

Applying for a £500 payday loan through LoanPig is simple, fast and can all be done online. Using the Loan Calculator on our homepage, enter the amount you would like to borrow and the length of time you would like to keep your loan.

Fill out your details as truthfully and as accurately as possible and click ‘Submit’ to submit your £500 payday loan application. The process only takes a few minutes and we will get back to you as soon as possible.


What Happens After I Apply?

After you have submitted your application for a £500 short term loan with LoanPig, we will evaluate your details and make a decision whether we can lend to you ourselves, if we cannot do this, for whatever reason, we pass your application onto our panel of lenders.

They will look at how long you would like to keep your £500 payday loan for and decide if they can help. If there are any lenders that approve of your loan application, we will send you to their website where you can complete your £500 loan application.

Depending on when you submit your application, we could get back to you on the same day and you could have your application complete and your funds in your account in a matter of hours.


Will My Credit Score Affect My Application?

We know that not everyone can afford a good credit score and when you’re in trouble a low credit score can make things even worse. That’s why at LoanPig we try to make £500 payday loans as accessible and flexible as possible.

We won’t perform any credit checks until you have submitted your application and our acceptance rates are some of the highest in the UK. The lender, whether it is us or from our panel, that agrees to give you your £500 payday loan will make a credit check, but often this won’t affect your application.


What Happens If I Can’t Make A Repayment?

At LoanPig, we stand by our responsible lending practices and always advise that you think carefully about your financial situation before applying for a £500 payday loan. However, if something unexpected happens after you have already been accepted for a £500 short term loan and you suddenly find yourself unable to make your monthly payment, you can talk to us or your lender to discuss solutions.


Why Should I Choose LoanPig For My Short Term Loan?

We are not only a direct lender, our panel of lenders is one of the largest in the UK, which means we can give you flexibility unlike any other loan provider. Our £500 payday loans are safe, secure and simple.

We do our best to make all of the details of your £500 loan are as transparent as possible so there is nothing to surprise you. There are no hidden fees and no nasty surprises in store when you use LoanPig to find your £500 short term loan.


Are £500 Payday Loans Regulated?

We stand by responsible lending and all of the short term lenders on our panel comply with FCA regulations. Regulated payday lenders have a lot of benefits. Repayments and missed payment fees have both been capped, affordability checks are performed before accepting £500 payday loan applications to keep lending safe and sensible, and our information is as transparent as it can be.

You can rest assured that our £500 payday loans are safe, secure and responsible.


What Is The FCA?

‘FCA’ stands for Financial Conduct Authority. They regulate financial services across the UK and set the terms for lending practice. They aim to make payday loans and short term loans as safe as possible, which is something everyone can agree with.

We and all of the lenders on our panel are authorised and regulated by the FCA and are entered on the Financial Services Register. You can be sure that we are one of the best options for a safe and regulated £500 short term loan.