£500 Loan
Are you looking for a £500 loan? You’re in the right place. With Lending Stream you can apply from £50 to £800 if you are a new user and from £100 to £1500 if you are an existing customer. If approved, we’ll send the cash to your bank in 90 seconds*. We are a regulated direct lender and consider people with bad credit history.
Representative Example: Given a Representative APR of 1271%, if you borrow £300 over 6 months at 292% p.a. (fixed), you would owe 6 equal repayments of £96.39. You will repay £578.36 in total.
Not all applications will be approved for a loan. An offer of credit is subject to status and affordability checks.
Why choose Lending Stream for a £500 loan?
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Direct Lender
Lending Stream is a FCA authorised and regulated direct lender, offering short-term loans without any hidden fees.
No early repayment fees
Repay in 6 monthly instalments. We don’t charge for early repayment.
Fast
Apply online 24/7 with decisions in seconds. If approved, cash is sent to your bank in 90 seconds.*
What are £500 loans?
A £500 loan is a short term loan designed to help cover unexpected expenses or manage short term cash flow issues. These loans are suitable for covering costs like an unexpected bill, an emergency expense, or other immediate
financial needs. Typically offered by direct lenders, these loans are accessible to people with low credit scores.
With flexible repayment terms and straightforward processes, a 500 pound loan can act as a short term financial support and provide a convenient way to handle unexpected financial situations.
Eligibility checker for a £500 loan with Lending Stream
If you are looking to check your eligibility for a £500 loan with Lending Stream, then you need to:
- Be a UK resident.
- Have an active bank account.
- Have a valid debit card.
- Be at least 18 years old.
- Be in regular employment with a monthly income of at least £400.
During our application process, we might ask you to show proof of your income. As a responsible lender, we do this to ensure that you can comfortably afford the loan repayments.
Representative 1271%APR
Apply for a £500 loan with Lending Stream
If you’re looking for a 500 pound loan, Lending Stream is here to help. Our loan application process only takes a few minutes to complete. To apply with us, you need to fill in our online application form. We’ll ask you to tell us:
- Some personal details.
- The amount which you want to borrow with us.
- Your employment, salary, expenses, and banking details.
Once we receive your application, we’ll run a credit check and affordability check. This is to make sure you can comfortably afford the repayments. If approved, we’ll send the money to your bank within 90 seconds*.
Representative 1271%APR
How much can you borrow with us?
With Lending Stream, new customers can borrow between £50 and £800, while existing customers can borrow from £100 to £1,500. The exact loan amount depends on your financial situation and eligibility. If approved, we’ll send the money to your bank in under 90 seconds*. If you want to repay early, you can.
Our focus is on providing transparent services with no hidden fees. Whether it’s your first loan or you’ve borrowed before, the conditions for borrowing remain the same.
How long have you got to pay your £500 loan back?
At Lending Stream, you’ve got 6 months to pay back what you borrow. Our monthly repayments are designed to fit your financial situation, ensuring you can repay comfortably. We provide transparent information on the interest rate and the total repayment in your loan agreement.
If you want to repay your loan sooner, then that’s fine too! You can pay back as early as you want with no extra prepayment fees. Our loans are charged at a daily interest rate, and you’ll save money if you repay early.
What if my £500 loan application is rejected?
At Lending Stream, we don’t guarantee approval. We look at many different factors when you apply for a £500 loan. We approach each application separately, based on your ability to repay. We don’t want you to borrow money that you can’t afford to pay back.
Your application may be declined, even if you were accepted for a loan with us in the past. Our customer service representatives won’t have access to information about credit decisions. So, they won’t be able to tell why you weren’t approved.
If your application is rejected based on the information, we receive from one of the credit reference agencies then we’ll let you know the name of the credit reference agency by email. You can check your credit file with them directly.
What are the advantages of a £500 loan?
- Fast cash: If you have any unexpected expense or financial problem then a 500 pound loan can give you quick access to the money you need.
- No collateral required: When you apply for a £500 loan, you don’t have to mortgage your house, cars, or any other assets.
- You may be eligible for a £500 loan with bad credit: We will never pretend that your credit score isn’t important for us. But we do understand that your credit score doesn’t fully reflect your current situation which is why we consider all applications including those for bad credit loans.
- Repay in affordable amounts: If you take out a £500 loan with Lending Stream, we’ll give you 6 months to pay back. Unlike a payday loan you don’t have to pay it all back in one go.
What is the disadvantage of a £500 loan?
Short term loans for £500 will usually have a higher interest rate than a traditional high street bank. Is a 500 pounds loan what you need? Think carefully if this is the right amount to borrow to meet your needs.
FAQs – 500 pound loan
Will a 500 pound loan affect my credit file?
A 500 pound loan can impact your credit file positively or negatively. Making monthly repayments on time can improve your credit score. However, missed payments or late repayments may harm your credit report. At Lending Stream, we provide clear terms to help you manage repayments responsibly and avoid financial issues.
Can I borrow a loan of 500 today?
Yes, you can apply for a £500 loan today with Lending Stream. We provide an instant decision. If approved, we’ll send the approved loan amount directly to your bank account. We consider applications from people with bad or poor credit history.
What if I’m having financial problems?
If you have a loan with us and are facing financial difficulties, contact us immediately. We’re here to support you and help you by providing solutions. Ignoring your loan repayments can lead to additional costs and impact your credit profile, resulting in a low credit rating.