• Drafty Logo
    • Flex
      • £50 Loan
      • £100 Loan
      • £200 Loan
      • £300 Loan
      • £500 Loan
      • Credit Builder Cards
      • Credit Cards for Bad Credit
    • Loans
      • Find the Right Loan
      • Short Term Loans
      • Bad Credit Loans
      • Same Day Loans
      • Emergency Loans
      • Quick Loans
      • Cash Loans
      • Small Loans
      • Borrow Money
      • Compare Us With Others
      • Lending Stream
      • Provident Loans
      • Safetynet Credit
      • Amigo Loans
      • Tappily
      • Wonga
      • £1000 Loans
      • £2000 Loans
      • £3000 Loans
    • Resources
      • About Drafty
      • Credit Line
      • Flex Pricing
      • Flex FAQs
      • Loan FAQs
      • Money Worries
      • Blog
    • Contact Us
    • Sign in
    • Flex
      • £50 Loan
      • £100 Loan
      • £200 Loan
      • £300 Loan
      • £500 Loan
      • Credit Builder Cards
      • Credit Cards for Bad Credit
    • Loans

      Loan Types

      • Find the Right Loan
      • Short Term Loans
      • Bad Credit Loans
      • Same Day Loans
      • Emergency Loans
      • Quick Loans
      • Cash Loans
      • Small Loans
      • Borrow Money

      Compare Loans

      • Compare Us With Others
      • Lending Stream
      • Provident Loans
      • Safetynet Credit
      • Amigo Loans
      • Tappily
      • Wonga

      Loan Amount

      • £1000 Loans
      • £2000 Loans
      • £3000 Loans
    • Resources
      • About Drafty
      • Credit Line
      • Flex Pricing
      • Flex FAQs
      • Loan FAQs
      • Money Worries
      • Blog
    • Contact Us
    Sign in

Small Loans

If you’re looking for a small loan to manage emergencies or unexpected bills, Drafty could help. We offer small personal loans from £1,000 to £3,000 with repayment terms of 12, 18, or 24 months. If approved, the money can be sent to your bank in just 90 seconds*.

Trustpilot + horizontal
£ 1000
£ 3000
Duration
  month
Amount borrowed
£  
Total interest
£  
Monthly repayable
£  

Representative 79.9%APR

Representative Example: Given a Representative APR of 79.9%, if you borrow £1000 over 18 months at 59.9% p.a. (fixed), you would owe 18 equal repayments of £85.56. You will repay £1,540.08 in total.

drafty

Not all applications will be approved for credit. An offer of credit is subject to status and affordability checks.

Trustpilot + carousel

Why choose Drafty for a small loan?

drafty

Fast

Cash sent to your bank in under 90 seconds, if approved. It may take longer to reach your account depending on your bank’s processes.

drafty

Varied repayment periods

Repay in 12, 18 or 24 months.

drafty

Convenient

Secure online application available 24/7. An instant decision.

What are small loans?

Small loans are short-term borrowing options designed to help cover unexpected bills or emergency expenses. Unlike a big loan, a small personal loan usually ranges from £1,000 to a few thousand pounds and is repaid in fixed monthly payments.

At Drafty, we offer unsecured loans, so you don’t need to secure the loan against an asset like a car or home. Whether you need a loan for unexpected emergencies or for your dental bill (if using private dentist), our small loan might help you.

Eligibility criteria for a Drafty small loan

Eligibility criteria for a Drafty small loan

To apply for a small personal loan with Drafty, you need to meet the following criteria:

  • Age: You must be at least 18 years old.
  • Residency: You must be a UK resident.
  • Income: Earn at least £1,250 a month.
  • Bank account: A valid UK bank account and debit card is required.

Once you apply, we’ll run credit and affordability checks. We do this to make sure that you can afford the monthly repayments.

Get started

Representative 79.9%APR

How to apply for a small loan online with Drafty

Once you have checked our eligibility criteria, you can apply:

drafty

Apply

Click on the apply now button and complete our online application process. Choose how much you want to borrow. Then, fill in your personal details as well as employment and banking information. It usually takes 15 minutes or so, but application completion time may vary.

drafty

Checks & approval

Once we receive your application, we’ll run affordability and credit checks. We do this to see if you can afford the repayments on top of your existing financial responsibilities. In most cases, we’ll give you an instant decision

drafty

Get your money

If approved, we will send the money to your bank in 90 seconds. It may take longer to reach your account, depending on your bank’s processes.

Get started

Representative 79.9%APR

What can I use a Drafty small loan for?

A small loan from Drafty can help cover your urgent unexpected expenses or planned spendings. Here is where a loan from Drafty can help:

Car repairs

Fix an unexpected breakdown without delay.

Home improvements

Upgrade your space with repairs or renovations.

Mobile phone replacement

Get a new phone if yours is lost or damaged.

Unexpected bills

Cover urgent expenses without stress.

Emergency expenses

Handle any sudden financial situation quickly.

How much money can I borrow with Drafty?

With Drafty, you can borrow money between £1,000 and £3,000 based on your credit rating and personal circumstances. The approved loan amount depends on factors like your monthly income, credit history, and ability to manage monthly repayments.

You can read our eligibility points and see if you are eligible for a loan with us or not. Being a direct lender, we offer fixed interest rates, so you’ll know exactly how much you’ll pay. There are no hidden fees. If eligible, you’ll receive an instant decision, and if approved, we’ll send the cash to your bank within 90 seconds*.

What is the repayment period for small loans?

The repayment period for a small personal loan depends on the loan amount and your agreed loan term. At Drafty, we offer flexible repayment periods, ensuring your monthly repayments fit your budget. You can choose the repayment period from 12, 18, or 24 months.

With fixed interest rates, you’ll know exactly how much you’ll pay each month. Making payments on time can improve your credit score, while missed payments may affect your credit file negatively. If you want to repay your loan early, it’s fine with us. We don’t charge extra for early repayment.

Can I get small loans with bad credit?

Yes, at Drafty, we consider people with bad credit. We believe your credit score shouldn’t define your financial future. We check your personal circumstances, monthly income, and ability to make monthly repayments, not just your credit history.

Unlike other lenders, we consider applicants with a poor credit score or very bad credit score too. If approved, making timely repayments can help you improve your credit rating. Before applying, check our eligibility points to check if you are eligible or not.

Types of Small Loans

drafty

Payday loans

A payday loan is a short term loan designed to be repaid by your next paycheck. These loans usually have higher interest rates and may lead to additional fees if not repaid on time.

drafty

Short term loans

Short term loans provide quick financial support for unexpected bills, car repairs, or emergencies. These loans usually have a fixed interest rate and are repaid over a few months.

drafty

Unsecured loans

Unsecured loans do not require you to secure your loan against assets like your home or car. These loans are based on your credit history, monthly income, and ability to make monthly repayments.

drafty

Bad credit loans

Bad credit loans are designed for people with a poor credit score or limited credit history. Many lenders may reject users with bad credit, but at Drafty, we consider your overall personal circumstances rather than just your credit rating.

FAQs – Small loans

Do small loans hurt your credit?

Taking out a small loan can impact your credit score, but whether it’s positive or negative depends on how you manage repayments. If you make monthly payments on time, your credit history may improve. However, missed payments or failing to repay the loan amount can lower your credit rating.

How to get an instant small loan?

We provide an instant decision to all applicants. If you want to apply then you need to complete our online application form, fill in the asked financial and other information, and submit. You’ll receive an instant decision. If approved, we’ll send the cash to your bank within 90 seconds*.

How quickly can I get a small amount loan with Drafty?

At Drafty, we process applications instantly to help you access funds when needed. Once you apply online, we assess your credit history, monthly income, and personal circumstances to provide an instant decision. If approved, we send the cash to your bank within 90 seconds*.

Please think carefully about whether Drafty is the right solution for you. This is even more important if you're in financial difficulty.  If we don't think you can afford to repay your credit, we won't be able to approve you. We'll look at your current finances and credit history before we decide whether to give you credit. Failure to repay could impact your credit file.

We are a lender and may pay commissions to credit brokers or other intermediaries who introduce customers to us. The amount of commission we pay can vary depending on the broker, the product offered, and the terms agreed with the broker. This commission is not charged to you and does not affect the total cost of your loan.

Please think carefully about whether Drafty is the right solution for you. This is even more important if you're in financial difficulty.  If we don't think you can afford to repay your credit, we won't be able to approve you. We'll look at your current finances and credit history before we decide whether to give you credit.

*We send cash to your bank in under 90 seconds if you are approved. It may take longer to reach your account depending on your bank’s processes.

#Call charges apply. Standard charges from landlines, mobiles and other providers may vary.

Drafty is a trading name of GAIN Credit LLC

Contact Address: PO Box 10756, Leicester, LE3 4GX, E-mail: info@drafty.co.uk | Registered Address: 251 Little Falls Drive, Wilmington, DE 19808, USA | Registered in the State of Delaware, USA | Registration Number: 4124111 | Authorised and Regulated by the Financial Conduct Authority. Registration Number 689378

PRODUCT

Loan
Flex
Flex FAQs
Loan FAQs

COMPANY

About Drafty
Credit line
Flex pricing
Sitemap

CONNECT

File a complaint
Blog

LEGAL

Terms of use
Privacy policy
Cookie policy

Manage cookies




