Finding a short term loan provider can mean searching through many lenders online. If you were looking for loans like Provident, who are no longer able to lend, here at Fast Loan UK we have suitable options when you need them most. If you have an emergency expense to cover, apply with us today and get a fast decision on a loan of up to £2,000. We provide flexible repayments so you can choose the term that is ideal for you, whether weekly or monthly instalments are best. If approved, you’ll have the money in your account the same day to use how you need to. Apply today and choose Fast Loan as an alternative to loans like Provident. To find out more about our payday loans and how we compare to Provident, you’ll find further information below.
Who Are Provident?
Provident were a short term loan provider that ceased lending on 31 December 2021. Part of the Provident Financial Group, the lender also provided online loans through Satsuma who are also no longer lending. They provided cash loans to customers between £100 - £1,000 providing a range of repayment terms of up to 12 months, depending on affordability.
The company also provided Doorstep Loans, whereby a representative would visit customers face-to-face at home. Customers would start an application online, then be visited by a Provident loans representative to finalise the application. Here at Fast Loan UK, we provide a fully online service meaning there is no requirement to be visited at home to approve your loan. You can choose to borrow more through us than with loans like Provident too, if your affordability can match the repayments. We offer up to £2,000 rather than the maximum of £1,000 loans like Provident could lend.
The amount we can offer will depend on if you are a new customer, so if it’s your first loan through us, we can offer up to £800 and choose flexible repayment terms of up to 8 months. If you need cash quickly, this can still be ideal if you have no savings or available credit to resolve your short term position. If approved, you’ll have the cash in your account to use the same day.
Terms For Loans Like Provident
As a lender of high interest loans, Provident provided borrowing that was for short term use, offering repayments to help spread the cost of this. At Fast Loan UK, our loans are also designed to help with short term financial emergencies. As the interest rate can be high with any form of short term loan, it’s important to compare APR costs and how much interest you will actually repay, especially if you choose terms much shorter than 12 months. You can use our loan calculator to see how much the loan amount will cost against the repayment term you choose. With loans like Provident, depending on the term, the representative APR would differ. For example, a £500 loan over 13 weeks would have a representative APR of 1557.7% at Provident. Below is an example of a similar loan at Fast Loan UK:
Representative example:
Borrow: £500 over 16 weeks. 4 repayments of £183.59. Total amount payable £734.36. Interest rate: 151.4% pa (fixed). Representative 766.18.% APR.
At Fast Loan UK, we lend to customers who can afford the required repayments and are not in current financial difficulties. Our loans are not designed to cover long term financial issues, and you should always look to settle any emergency using existing savings or credit first. Carefully choosing the terms you are happy to pay before completing your application, and you’ll have an affordable loan option you can maintain.
Why Choose Fast Loan UK as an Alternative?
There are many online direct lenders to consider when you need money fast, but at Fast Loan, we have plenty of good reasons to choose us. We can provide:
- Fast application process
- Loans up to £2,000, maximum of £800 for new customers
- Flexible loan repayments of up to 12 months
- Transparent terms and no hidden fees
- Same day cash once approved
- No home visits like Provident does
- Fully online application and approval
- Options for bad credit applicants
- Customer focused service
- Dedicated Customer Care Manager for every applicant
When you need quick cash and you have exhausted other options, at Fast Loan UK we are ready to help and provide a streamlined service. Whether you used loans like Provident previously or require short term help for the first time, our service is available 24/7.
Eligibility for Alternative Loans Like Provident
To be eligible to apply today for a same day loan, you will need to meet the following requirements first:
- Aged 18 years or over
- Be a current UK Resident
- Be in Full-time, Part-time or Self-Employment
- Receive a Regular Income
- Be able to Provide Bank Account and Debit Card details.
Meeting the above means you can start your application today by clicking apply now. You’ll be given a decision in principle quickly and then be assigned a personal Customer Care Manager who will oversee your application. As FCA approved responsible lenders, we will need to carry out credit and affordability checks to ensure the loan is affordable for you. If you are someone with a bad credit history, you may still be successful if we can determine the loan repayments can be maintained and you are not in current difficulties. If we need to contact you, this shouldn’t take longer than 5 minutes. If everything is approved, you’ll receive your digital loan agreement to sign. Once complete, we can transfer the funds quickly to your account, usually within 15 minutes of signing.
Apply Now at Fast Loan UK
Ready to apply today? Start your application by clicking apply now. If you have any questions about loans like Provident, or need further information about our loan options at Fast Loan, please contact us with your query. We are happy to help you make the right choice for you when you need money urgently.
If you are experiencing financial difficulties, you should consider whether borrowing more money is the right option for you. Please visit Money Helper for more impartial financial advice to help.
FAQs - Loans Like Provident
Are Provident Still Lending?
Provident stopped lending on 31 December 2021 meaning no further loan applications can be processed. If you are looking for short term cash loans of up to £800 as a new customer, apply today through Fast Loan UK. We can help you get the loan you need in a hurry and provide flexible repayment terms suitable for you. If you can afford the loan you need, we welcome your application today.
Can I Get Approved Cash Quickly through Fast Loan?
Yes, if we can process your application and have all the information we need to approve, we can transfer the loan amount to your bank account the same day. On some occasions, your Customer Care Manager will need to call you to confirm details, but if so, this should take no longer than 5 minutes to complete. If your bank supports the Faster Payments System, we can transfer the funds within 15 minutes of signing your loan agreement.
How Do Repayments Work with Fast Loan?
We use a Continuous Payment Authority (CPA) to take the agreed loan repayments. This means all you will need to do is ensure there is enough credit in your bank account before the payment is due to debit. We will send a reminder to you at least 3 days before your repayment date. Your repayment schedule will be detailed in your loan agreement also.