The Very Best Loans with Loantra

Short-Term Loans

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*Online decision

*Responsible lenders

*Rates from 278% to 1576%

*3-12 month repayment

Personal Loans

Apply Today to Borrow up to £25,000

*Instant Decision

*60-Second Application Form

*Rates from 4.7% to 278%

*3-36 month repayment

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Desperate Loans

Sometimes we need a loan to help us afford the things we want in life. Sometimes we need a loan to help make life that little bit more comfortable and enjoyable. And sometimes we need a loan to pay the rent, to afford dinner and to avoid catastrophe. This is when loans become desperate loans. The good news is that there are now plenty of options for those who need desperate loans and there’s no need to go without. But when you’re desperate, that makes you susceptible. That means you need to be extra cautious and you need to think long and hard about what you’re agreeing to. This post will help you find desperate loans that won’t make your situation even more desperate…

Desperate Loans: Your Options

If you desperately need a loan, it probably means that you need the loan fast and that other companies or organizations have refused you the money.

In these cases, you need to find a direct lender that will be able to make the decision then and there and transfer the funds immediately. You also need an organization and product that will be able to lend you money despite your history of financial hardship.

The best option in these cases is a payday loan. A payday loan is a loan that is literally designed to last until payday. Here, you are borrowing a small amount of money with a high APR. But because you’re only borrowing for a short amount of time – less than a month often – that means that the high APR won’t add up to that much.

Payday loans are normally paid off in a single repayment too and that means that you know precisely what you’re going to pay and when. This means that the APR can be viewed more like a fee. And when you think you’re paying $15 to borrow a couple of hundred dollars, it suddenly becomes a more viable and sensible option.

A similar choice is to look for installment loans. These loans last a little longer but they can give you the same immediate decision and the same instant withdrawal. The difference is that you pay the amount over the course of several small installments – which means you can borrow more. The APR is also less.

How to be Smart

Some payday lenders and installment loans are fantastic options when you need desperate loans. For just a small fee, you can have the money in your account right away!

But in other circumstances, these loans can be a bad move and end up getting you into more difficulty. When you’re desperate, it’s easy to make that mistake.

So always compare the prices of different loans before making a decision – don’t take the first offer you can find. Likewise, always make sure that you have budgeted for the repayments and know exactly when you’ll have finished paying it off. This way, you’ll avoid being charged late payment fees and you’ll be able to improve your financial standing in the long run!

See How We Compare to Our Competitors

Loan amount
£500 - £20,000
Loan term
12 - 60 Months
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Loan amount
£500 - £100,000
Loan term
1 - 18 Months
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Loantra is a licensed credit broker and not a lender.

We will never charge you for our service and the lender will not increase the rate to cover our fee to them.

We work with over 40 different lenders to bring you the very best rates from across the UK market.

Representative 305.9% APR. Representative example: £400 borrowed for 90 days.

Total amount repayable is £561.92 in 3 monthly instalments of £187.31.

Interest charged is £161.92, interest rate 161.9% (variable)

Warning: Late repayment can cause you serious money problems. For help, go to moneyadvice.org.uk.

Do not borrow more than you can pay back as defaulting on payments can lead to serious monetary problems.

Any collateral you have against the amount may be at risk of repossession.

5 most recent personal loan reviews

Review of Natwest

My personal loan from NatWest was planned in advance because I like to do plenty of research before committing to something as important as a building extension. I wanted to make sure the loan would be possible and that it was at a competitive rate before I started employing architects and builders. I was in regular contact with our local branch’s loan adviser and they finally sorted out a very good loan for me and once that was agreed I got on to the job of planning this extension. We’d already had the go ahead from the local council so it was all systems go once that all important loan was finalised. Sometimes it’s best to deal with your own bank for such an important loan and I am pleased that I entrusted NatWest with my loan.

Review posted by Wayne Crouch, Plymouth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of U Switch

In our position your company treats us well. We have the income but unfortunately due to circumstances beyond our control our credit rating is bad. Thank you Uswitch for giving us a chance.

Review posted by Neil Morrison, Perth

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Wonga

Suprised at ease of application. Never wanted to use these kind of things but had a very tough month and needed a few pounds before payday. After checking different options I found the small amount to payback manageable and it’s all payed back 2 days after payday. Easy process with quick response.

Review posted by Anthony Bell, Chelmsford

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All reviews have been sourced from Trust Pilot to ensure authenticity of testimonials.