£100 Payday Loans



489.4% APR

Representative Example: On an assumed loan amount of £750 over 12 months. Rate of interest 191.2% (fixed). Total repayment amount £1726.68 and total interest is £976.68. 12 monthly payments of £143.89. My Financial Broker is a broker, not a lender*.

* As a broker, we are unable to ascertain exactly how many customers take out a loan or the lender’s rate of interest particular to that customer, therefore our calculation is based on the mean APR of our panel of lenders.


We understand that not everyone is looking to borrow large amounts, but it’s handy to have a little extra help when you receive an unexpected bill or your car breaks down – especially if there are a few weeks till payday. With a loan from My Financial Broker, you can borrow as little as £100.

Why Might You Need a £100 Loan?

Unfortunately, there’s no way to account for the unexpected. Yet emergency expenses are something we all have to deal with at some point in our lives. Whether it’s a sudden small home repair or covering a one-off bill, a £100 loan can tie you over until your next payday.

Payday loans are a lot more flexible than traditional forms of credit. Typically banks and building societies don’t offer small loan amounts, meaning you may end up borrowing more than you need. With a little loan, you choose exactly how much you need.

So what is a payday loan? Unlike an instalment loan, where you’d make monthly payments towards the balance, a payday loan is repaid as a lump sum, typically when you next receive your wages.

Because payday loans are paid back in full, they are usually for smaller amounts – if you need to spread the cost of borrowing, you should consider an installment loan. £100 loans are small payday loans that can help you cover emergency expenses before your next payday.

What are the Benefits of a £100 Loan?

There are a number of benefits to taking out a hundred pound loan. Although it’s a relatively small amount of money, this amount can make all the difference when you need to cover an unforeseen cost before your next payday.

One of the reasons a lot of people borrow £100 rather than taking out a larger loan is that when you take out credit, you should only borrow what you need. That way you won’t end up paying back the loan for an extended period of time, which can mean you pay back more interest overall.

With a £100 payday loan, you will only be paying interest for the time the loan is open, and interest is calculated based on the loan amount. So if you borrow £100 for a week, you’d only be paying seven days worth of interest. This typically would not add up to too much, so a small loan can often mean less total interest.

We’ve listed a few of the other benefits of a £100 loan below:

Helps You Out of a Difficult Financial Spot

No guarantor loans are a speedy source of cash when you’re in a tight squeeze. Whether your car breaks down or your washing machine starts to play up, a short £100 loan can provide the money you need in a few hours.

It Can Help Boost Your Credit Score

A great way to boost your credit score is having a history of on-time payment. By keeping up with the loan repayment, you could start to see your credit score improving.

It Could Save You Money

If an unexpected expense leaves you without enough money until payday, unarranged overdraft fees and other charges can mount up quickly. By taking out a smaller £100 loan to cover the unexpected expense, you could reduce the amount you pay overall.

Colleagues outside

Can You Apply For a Loan of £100 With Bad Credit?

Even if you have a poor credit score, we can find you you a suitable lender who offers loans for bad credit to borrowers.

You might have poor credit if you made a few late payments in the past, or missed a repayment. As your credit history stays on your credit file for 6 years, these negative marks could be due to things that happened years ago, but could still affect your chances of taking out credit. Having a ‘thin credit file’ can also result in having a poor score – this is when you don’t have much of a credit history, so lenders are unable to assess your creditworthiness.

£100 Direct Lenders

At My Financial Broker, we’ll find the most suitable direct lender to fund your loan. You can use our online loan calculator to calculate how much you’d be repaying, depending on how long you’re looking to borrow the funds for. Interest is usually applied at 0.8% per day, so if you borrow £100, the interest would be 80 pence a day.

We work with a number of direct lenders who lend small amounts of money to those in need.

If you’re contemplating applying for a cash loan, it’s important to consider whether borrowing is the most suitable option. If you’re able to save for what you need, this is likely to be a better option as it’ll be interest-free. We don’t recommend borrowing credit to repay existing credit with other loan lenders as this can lead to serious money problems, lowering your credit score and potentially leading to a debt spiral. If you require help managing your debts, you can contact Step Change for free independent advice.

How to Apply for a £100 Loan

In order to be eligible to apply for a £100 loan you must:

  • Be aged 18 or over
  • Be a UK resident
  • Be in full-time or part-time employment
  • Hold a UK bank account and mobile number

As long as you meet the eligibility criteria, you can apply for loan at My Financial Broker – simply complete our one page application form with a few details about yourself. Once this has been submitted we’ll quickly get you accepted to apply with a direct lender.

Apply Now