When a financial difficulty is being faced, stress is usually already high. Add a poor credit score into that mix, and things can feel even heavier. Many mainstream lenders are quick to say no. Applications are declined. Doors feel closed. So where does someone turn then?
Having a low credit score does not always mean options are gone completely. This part is often missed. There are regulated lenders who specialise in helping people with past credit issues. Instead of focusing only on old mistakes, affordability, income, and personal circumstances are often reviewed. That approach feels more human, doesn’t it?
Yes, borrowing with poor credit usually costs more. That part cannot be ignored. But the right lender can still provide access to funds when they are genuinely needed. And importantly, it helps people avoid unsafe or unregulated alternatives. That alone matters a lot.
In this guide, 5 poor credit score lenders are explored that may help during a financial crisis. All are authorised to operate in the UK. Each uses a different lending model. The goal here is simple. To help you see which option might fit your situation better. Not promises. Just information.
1. Salad
Unsecured personal loans are offered by Salad for borrowers with poor or limited credit history. Instead of relying heavily on a credit score, Open Banking data is used. Income and spending habits are reviewed. This gives a clearer picture of whether repayments can be handled.
Usually, between £300 and £2,000 can be borrowed. Repayment terms often fall between 12 and 24 months. The representative APR ranges from around 59.9% to 79.5%, depending on the loan details. Not cheap, no. But structured.
Why Salad is often considered
- Credit score is not used during the initial check; financial behaviour is reviewed instead.
- No hidden charges are added, and early repayment penalties are not applied.
- Applications are reviewed quickly, and funds may arrive within 2 hours of approval. Fast, yes.
- Monthly repayments are fixed, which helps with planning.
Salad is FCA-regulated. Approved loans are reported to credit agencies, meaning timely repayments can help keep your credit record transparent. Slow rebuilds start somewhere, right?
2. LoanPig
LoanPig operates as both a direct lender and a credit broker. It is FCA-authorised and works with borrowers across a wide credit range, including poor credit scores. Instead of rejecting applications immediately, current affordability is reviewed.
Typically, borrowing ranges from £50 to £1,500. Repayment periods run from 1 to 12 months. The representative APR can vary widely, from around 49.9% to over 1,200%, depending on the lender and loan type. Yes, that range is big.
Low credit scores alone do not trigger an automatic decline. However, because LoanPig works in short-term, higher-cost lending, rates can be high. This option is usually better suited for urgent and small borrowing needs. Not long-term solutions.
3. Moneyboat
Moneyboat is another FCA-regulated direct lender offering short-term instalment loans. A perfect credit score is not required. Applications are reviewed based on wider financial circumstances, not only past issues.
New customers may borrow between £200 and £800. Returning customers can access up to £1,500. Repayments are spread across 2 to 6 months. The representative APR is around 1,267.9%. High, yes, but typical for short-term lending.
Funds are often transferred the same day once approved. There are no hidden fees. Transparency is clearly emphasised. Still, the cost reflects the short-term nature of this type of loan. That part should not be ignored.
4. Drafty
Drafty provides flexible personal loans and credit lines and is also FCA-regulated. Credit history is reviewed, but it is not the only factor. Overall financial health is considered, which can help those turned away elsewhere.
Borrowing ranges from £1,000 to £3,000. Repayment terms usually include 12, 18, or 24 months. Fixed personal loans come with a representative APR of around 79.9%. Drafty also offers a flexible credit line, with a variable APR around 96.2%.
Decisions are often made quickly. Funds can reach your account within minutes after approval. Sounds convenient, right? Still, affordability should always be checked carefully before committing.
5. Lending Stream
Lending Stream is an FCA-authorised direct lender offering unsecured short-term loans. Poor credit scores do not automatically block access, as long as affordability can be shown.
New customers may borrow £50 to £800. Returning customers can access up to £1,500. Loans are usually repaid over 6 months with fixed instalments. The representative APR is around 1,271%, for example borrowing £300 over 6 months.
Decisions are based on income and outgoings rather than just credit history. Funding can be fast if approved. Still, the high APR makes this option more suitable for emergencies only.
To Sum Up
A poor credit score does not mean help is impossible during financial difficulty. But it does mean choices need to be made carefully. The lenders listed here offer regulated options for those who struggle with mainstream credit. Each uses a different approach to affordability and repayment.
Higher costs usually come with poor credit borrowing. That is the trade-off. So terms should always be compared. Total repayment amounts should be understood. And borrowing should only be done when it is genuinely needed and affordable.
Used responsibly, a loan can bridge a short-term gap. But long-term financial stability should always remain the real goal. Slow steps still move forward.
