Pay day loans have received a lot of bad press recently; and rightly so. Predatory lenders charging exorbitant credit with some quoting 4 digit APR figures do nothing to support those who are hit by an emergency and cannot wait until pay day.
That’s why we are working to ensure short term credit is available without the need to charge excessive interest.
If you are in employment and looking for a small loan to help with an emergency see what we can do to help.
The maximum loan amount available is £300 and the longest period to repay in 2 months. We charge 3% per month on the loan which is equivalent to 42.6% APR (A bit different to 1,509% that others charge).
When emergencies hit, choose a cheaper loan alternative.
Our Loan Calculator
*Our minimum loan term period is three months.
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Membership is open to all who live and work in the Tyne and Wear, County Durham, Teesside or Northumberland region.
Joining Moneywise is free and all we ask is you save regularly to support our funds for lending. We only lend to members so you can be confident your savings are being used to support like-minded individuals.