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Representative Example
Loan repayable over 18 Months
£1000.00
17 Months at
£88.15
Final payment
£88.15
Rate of interest
59.97% p.a. (fixed)
Representative
79.5% APR
Total amount repayable
£1586.70

Payday Loan Alternatives

  • Forget payday loans - explore ethical, credit-friendly payday loan alternatives, even with a low credit score
  • Easy application
  • Speedy funding
  • No credit score checks
  • Transparent and simple application process
  • No hidden fees
  • Reliable customer support
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Struggling with a sudden unexpected expense? Are last-minute bills destroying your financial balance? We’ve got you covered.

Rather than turning to traditional payday loans, we offer fair and affordable online payday loan alternatives. At Salad Money our More Than Your Score loans could be the solution to all your emergency cash needs.

If you’re struggling with immediate cash problems, you’re not alone. Millions of people across the UK struggle with their finances. And with increasing economic uncertainty and the cost of living crisis, more and more individuals are facing emergency expenses.

Leading to stress and anxiety, financial issues not only affect your quality of life but can also cause mental and physical health issues. Unfortunately, the added stress caused by spiralling debt through methods like payday loans, add to this. That’s why we offer the best online payday loan alternatives, to help you deal with everyday finance issues.

With a simple and transparent lending process, our payday loan alternatives are best suited to your needs. Providing a quick, simple approval process, straightforward lending terms and flexible repayment plans, our loans are the first choice for thousands of borrowers, every month.

Are you ready to face emergency expenses head on? Get in touch with us for payday loan alternatives now and take control of your finances..

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Key Facts

  • Salad Money is authorised and regulated by the FCA.
  • Only you can choose to share your data (you’ll be taken to your banking provider's site during the application process).
  • You can stop sharing your data at any time.
  • Open Banking is an FCA-regulated process.
  • Your banking data is protected in the same way as it is when you use your Internet banking.

What is a Payday Loan Alternative?

Payday loans can often be toxic and are generally known for their predatory lending terms.

That’s why at Salad Money, our payday loan alternatives allow you to swerve predatory lenders and get access to the finances you need, when you need them.

Specifically designed to help people manage their finances in the face of life’s unexpected expenses, our alternative to payday loans offer much-needed relief for dealing with emergencies and a poor credit score.

Also known as cash advances and wage advances, our alternative loans help you deal with immediate liquidity problems. Usually short-term, these loans are typically due on the borrower’s next payday.

However, Salad Money’s alternative to payday loans offers more flexibility with the terms of the loans, allowing you to pay over a period of 12 or 18 months.

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Understanding the Basics of Our Payday Loan Alternatives

Our payday loan alternatives are created for individuals who require quick access to cash and are unable to wait for their next paycheck. Commonly borrowed to deal with urgent expenses that can’t wait until payday, these loans have a repayment term that usually only ranges between two weeks to a month.

Unlike most lenders, however, at Salad Money, our borrowers are in control - able to borrow over a longer period of time as well as make early repayments. Unlike traditional loans, we offer our alternative to payday loans directly with no credit score checks.

How Do Payday Loan Alternatives Work and Who Qualifies

Accessing a Salad Money online payday loan alternative is simple. Just follow our straightforward application to find out if you’re eligible.

To be eligible you must have a regular paycheck or some form of steady income, be at least 18 years old and have a UK bank account. While these are the basic requirements for most online lenders, further eligibility requirements like credit checks vary for different lenders.

Payday loans have a bad reputation - and for good reason. That’s why Salad Money’s alternative to payday loans has your well-being at its core.

If you fulfil our eligibility criteria, you can submit your application and our team of experts will quickly give you a decision regarding its approval. Once approved, the money will be in your account usually within 4 hours.

From then on, you make repayments on a monthly basis depending upon the repayment plan created for you, over 12 or 18 months.

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Different Types of Payday Loan Alternatives and How to Choose the Right One

At Salad Money, it’s crucial that you find the right loan for your circumstances.

Ranging from online payday loan alternatives to cash advance loans, borrowers have a lot to choose from. That’s why it becomes essential to compare and find the best terms to suit you. Our online payday loan alternatives are convenient and simple, allowing you to apply from the comfort of your home and receive the money directly in your bank account.

Whilst same-day loans are available from other lenders, they often come with far less favourable terms and stringent checks.

Finally, cash advance loans can be provided by credit card companies and may have a relatively higher interest rate.

By effectively comparing loan options, interest rates, fees, terms and conditions, you can find the best option for you.

At Salad Money, our mission is to help people in employment access the cash they need, quickly and responsibly.

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Pros and Cons of Payday Loan Alternatives

A payday loan alternative can mean a number of different experiences for different individuals. That’s why it is always a good idea to weigh the pros and cons before applying.

Although these loans are specially designed to offer a quick and convenient way to deal with emergency situations, they can also come with some risks. It’s important you’re aware of the advantages and disadvantages of payday loan alternatives to help you make an informed decision.

Advantages of Payday Loan Alternatives

Accessibility: Our alternative loans are one of the most accessible loans available, with checks that use solely Open Banking for approval, without the need to assess your credit score. This makes it much easier for those who need to borrow money urgently.

Convenience: Getting access has become easier than ever. With quick access to funds when you need them, these loans are highly convenient for people with a low credit score, facing a time-sensitive expense.

No credit check required: Salad Money exists to provide credit to people who have been wronged by the credit score system. Our payday loan alternatives require no credit checks. Instead, we measure creditworthiness using our open banking software to assess eligibility.

Flexibility: Unlike traditional loans, our payday loan alternatives aren’t tied for use on one particular expense. Allowing you to use the money to deal with a variety of problems, these loans offer greater flexibility when you need cash quickly.

Disadvantages of Payday Loans

High Interest Rates: At Salad Money, we offer alternative loans to employees at a highly competitive interest rate, and with no additional fees. However, payday loans are typically accompanied by extremely high annual percentage rates (APRs) and heavy fees, making payday loans more expensive than traditional loans. Leading to significant increases in your current debt, not paying a payday loan in time can damage your credit score.

Short repayment terms: We’re proud to offer payday loan alternatives that offer flexibility and decrease the payment burden on our customers. With 12 and 18-month payment terms, we can take the stress out of borrowing. However, as the name suggests, many other payday loans are usually due on the borrower’s next payday. This can be incredibly challenging for borrowers, often leading to a cycle of debt that we at Salad Money are committed to solving.

Debt cycle: With flexible payment terms and competitive rates, we’re committed to breaking the debt cycle. That is preventing people from having to take new loans to pay off old debt. If not managed effectively, a payday loan can lead to a cycle of debt. Not only can this be difficult to break out of but also leave the borrower struggling to make ends meet.

Predatory lending practices: At Salad Money, you’ll never be offered a loan that hasn’t been correctly assessed from an affordability perspective. While most FCA-approved lenders are fair in their practices, some engage in predatory lending practices. This can involve charging excessive fees, exorbitant interest rates and aggressive collection strategies. Increasing stress and burden on a borrower, these practices defeat the purpose of the loan. That’s why it is important to research your lenders before taking out a loan and only getting in touch with a reputable lender like Salad Money.

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Frequently Asked Questions on Payday Loans

We’d always recommend a payday loan alternative, like Salad Money’s More Than Your Score loans, over a payday loan.

However, choosing the best payday loan completely depends on your needs and situation. Given the wide range of payday loans available online, it can be hard to choose the best payday loan. That’s why you need to consider factors such as interest rates, repayment terms, additional fees, the application process, and the lender's reputation.

With a Salad Money More Than Your Score loan, you’ll have more favourable terms and a more positive borrowing experience.

By simply filling out our online application form with your basic information such as your name, address and employment, you can apply for a payday loan alternative online. Once you complete your application, we will review it and let you know as soon as it is approved, usually you have the money in your account within 4 hours.

Yes, with Salad Money, you apply directly for a payday loan alternative online, a much better option than traditional payday loans.

As an FCA-approved lender, we offer you lending options based on your application. Moreover, as a direct lender, we process your loan application ourselves, instead of passing your application to a third-party lender. Offering greater reliability, no extra brokerage and quick approval time.

At Salad Money, we offer fair alternatives to payday loans ranging from £500 to £1,200. However, depending on your income, credit history and affordability, you can often borrow anything between £100 to £1,200 from other traditional payday loan lenders.

With our quick More Than Your Score application process, if successful your loan will be approved within 1-2 days. Once approved, most people receive their loan within 4 hours.

Most payday loans offer a repayment period that lasts until your next payday. At Salad Money, our alternative to payday loans offers flexible repayment options of either 12 or 18 months. Many other lenders expect payment, sometimes within less than a month.

At Salad Money, we believe that everyone deserves access to affordable credit regardless of their credit history. That’s why we created our More Than Your Score loan system. We offer the appropriate payday loan alternatives to individuals, regardless of their credit history. After conducting a quick affordability check that doesn’t rely on your credit score, we can offer you online loans in no time.

Why Choose Salad Money?

As one of the fairest, leading lenders in the UK, we stand out from the crowd, offering exceptional service to thousands of customers, just like you, every month.

Committed to offering fair and affordable payday loan alternatives to all our clients, we understand that the traditional credit score system can sometimes be unfair.

That’s why our More Than Your Score loans are designed to work for everyone who meets our criteria, regardless of their credit score. This allows us to offer fair personal loans to public and private sector employees who may have been turned down by traditional lenders.

At Salad Money, we believe that fair and affordable credit should be accessible to everyone. That’s why, our open banking based affordability assessment system is specifically developed to evaluate your creditworthiness using fairer influencing factors. This allows us to offer you the most suitable payday loan alternative regardless of a poor credit score.

Furthermore, as a regulated, fair and reputable lender, we understand the importance of quality customer service. That’s why our team is dedicated to helping you apply for loans and ensure a smooth borrowing process. Available to answer any questions you may have, we pride ourselves on our customer service.

What’s more, we deliver transparent communication in all our dealings with our clients. Providing you with clear and concise information regarding our loans, interest rates, fees and repayment terms, we are committed to transparency.

To learn more about our fair and affordable payday loan alternatives, click here or get in touch with us now!

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