| Borrowing✝: | £300 for 3 months |
| Total Repayable: | £332.40 |
| Interest Rate: | 0.18% per day |
| Interest (amount): | £32.40 |
Representative Example:
Representative 96.2%APR. Based on drawing your full approved credit limit of
£1200 and repaying in 12 monthly payments at an
Annual Interest Rate of 65.7%(Fixed).
Total repayable is £1,601.40.
Looking for Quick Online Loans?
If you’re looking for a quicker online lender, Drafty might be the perfect solution for you even though it’s not a loan. With a line of credit from Drafty, you’ll get fast online decisions and speedy money transfers if you’re approved. Oh, and there are no fees.
We think borrowing money should be straightforward, so we keep the Drafty line of credit as simple as possible. You apply online, you get a decision online, and if you’re approved, you can borrow up to your agreed credit limit. And once you’ve repaid it, you can borrow up to your credit limit again any time you want, without ever having to reapply. It’s fast, too – in fact, we'll send the cash to your bank in under 90 seconds*.
We think this simplicity is part of why we have such good ratings from customers on sites like TrustPilot.
Obviously, there are other online lenders. Some of them might even suit you better. We want you to come to Drafty because you believe we’re the right option, based on what you need.
Quick loans online
We understand that speed is of the essence when you’re looking for quick loans online. Whether it’s the speed of the decision or how quickly funds are transferred to your bank, we know how important it is.
At Drafty, we offer decisions in seconds, so you’ll know what your credit limit is as quickly as possible. When you want to draw cash from your line of credit, you just go into your Drafty account, tell us how much you want to borrow from your approved credit limit, and we’ll send the cash to your bank. In most cases, we'll send the cash to your bank in under 90 seconds*.
Applying for online loans
Finding quick, online loans is still a relatively new approach to finance. Up until recently, documents had to be submitted with just about every loan application, which had to be faxed or emailed in. Not only was this not really that quick, but it was also restrictive – after all, not everyone had access to a fax machine or a scanner. This is one of the reasons why payday loan shops were more widespread.
However, the rise of online credit file companies and machine learning has allowed companies like Drafty to offer new, fast applications and decisions. The more data that lenders have access to, the easier it is for them to make the right decisions. And the more decisions that are made automatically, the more machine learning can refine those processes, allowing for faster, more reliable decisions than was possible in the past.
So if you’re looking for online loans or cash, why wait? A line of credit might suit you better. If so, you can apply right now and get a fast decision.
Quick online loans FAQs
Do you have to do a credit check for quick online loans?
You’ll have to do a credit check, as regulated lenders will have to check you can comfortably afford to repay the loan.
Do you need a guarantor for quick online loans?
There are quick online lenders who don’t require guarantors, even if your credit isn’t perfect. (Drafty offers line of credit rather than loans, and we don’t ask for guarantors either).
Are quick online loans safe to use?
If the lender has their FCA register number displayed on their website, that means they are authorised and regulated by the FCA and have agreed to treat customers fairly – you can check whether the number is genuine by searching the FCA website. It also means that there’s an authority you can complain to if you feel you haven’t been treated fairly.
How much would
you likedo you want to borrow?
Representative
96.2%APR
How Drafty Works
Apply
It only takes minutes and you’ll get a
quick decision.
Set a Credit Limit
If you’re approved, you’ll be given a credit limit up to £3,000. You can then use as much or as little as you want. Pay interest only on what you use.
Flexible repayments
You repay a minimum amount every month. Want to repay early? Cool! There’s no charge for that. And we make it easy to do with our app.
Faster cash transfer
Use Drafty whenever you need to. We'll send the cash to your bank in under 90 seconds.*