Affordable credit

If you need to borrow money but find it difficult to get credit from high street banks then have a look at the other options available to you.

What to consider when borrowing money

Loans, overdrafts, credit cards, store cards, catalogues and buying on credit, for example, furniture, are all forms of borrowing money and they will cost you different amounts.

Can you afford the repayments?

To work this out you need to know what your personal budget is and how much the loan repayments are each week.


Moneyline offer small, unsecured loans, often lending to people who struggle to borrow from banks, or who pay too much for their money with higher cost lenders.

Budgeting Loans

A Budgeting Loan can help pay for:

  • furniture or household items, for example, washing machines or other white goods
  • clothes or footwear
  • rent in advance
  • costs linked to moving house
  • maintenance, improvements or security for your home
  • travelling costs within the UK
  • costs linked to getting a new job
  • maternity costs
  • funeral costs
  • repaying hire purchase loans
  • repaying loans taken for the above item

You're only eligible for a Budgeting Loan if you've been on certain benefits for six months.

Credit unions

Credit unions offer an alternative to borrowing from, or saving with national banks. Credit unions are owned and democratically controlled by it's members and offer a range of financial services including loans and savings accounts.

Many Credit unions are willing to offer loans to members even when they have been turned down by banks. See the Credit Unions website for more information.

Loan sharks

Loan sharks are breaking the law when they lend money without a Consumer Credit Licence. They tend to lend money with no paperwork and high interest rates so you can never pay back the money and will always be in their debt. Remember you are not breaking the law by borrowing from loan sharks but they are breaking the law by lending money through this way.These loans are not enforceable without a court order which is why loan sharks often threaten and use intimidation to get you to pay. If you spot a loan shark or you’ve borrowed money from one you can report them anonymously:

Telephone: 0300 555 2222
24-hour service
Text a report to 07860 022 116

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