Same Day Loans for Bad Credit

Funding in as little as 15 minutes*

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Rates from 49.9% APR to max 1333% APR. Minimum Loan Length is 1 month. Maximum Loan Length is 36 months. Representative Example: £250 borrowed for 30 days. Total amount repayable is £310.00. Interest charged is £60.00, annual interest rate of 292% (fixed).Representative 669.35% APR (variable).

Same Day Loans for Those With a Poor Credit Record


At some point in our lives, we will all undergo financial challenges and stresses. During these times, you may urgently require some fast cash to keep you afloat. Whether you are worried about money or are concerned about your credit score, Cobra Payday Loans can assist you in finding a quick and easy financial solution.

Bad credit history – what is it?

Lenders rely on credit scores to assess the affordability of a loan. Having a poor credit score makes it difficult for you to get a loan from conventional lenders. A number of factors contribute to your credit score, including:

Failure to pay your phone contract on time

Failure to manage your credit card

Failure to meet credit payments in the past

Lack of credit history

In the past, having a low credit score made it challenging to obtain a loan. However, things have changed, and at Cobra Payday Loans we strive to ensure financial inclusion even for those with poor credit history. It is now easier and quicker than ever to obtain a loan when you need it most.

I have bad credit – can I get a same day loan?

Established in 2014, Cobra Payday Loans have assisted thousands of people in securing loans via our quick and easy process. We are a loan introducer working with an independent and exclusive panel of lenders. Our partners are regulated and authorised by the Financial Conduct Authority. Our processing system is quick and efficient, and the application is 100% online.

We are available around the clock, and you can apply for your loan any day of the year. After receiving your application, several lenders consider it within minutes, increasing your chances of getting a loan offer. Our platform gives you a high acceptance rate and a wide range of payday loan solutions.

What will happen when I apply for a same day loan?

Initially, lenders perform a soft credit check to get a preview of your borrowing history. A soft check is a credit report search with no attachment to a loan application, meaning other lenders will not be able to see that a report has previously been run. Lenders only undertake a hard credit check after a client accepts a loan offer. It is a legal requirement for every authorised lender to establish the creditworthiness of clients through hard checks. Multiple hard checks negatively affect your credit score as lenders can see any declined applications.

If your application is successful, we redirect you to the lender offering you a loan at the best APR. You need to read and understand all the terms and conditions of the loan before accepting it. After signing the loan agreements, you fill in bank details and wait for the funds.

How long does it take for the funds to get to you, and how much can you borrow?

Most lenders utilise faster payments to wire the money to the borrower. You can get the funds in your bank in as little as 15 minutes. Dependant, of course, on your bank accepting faster payments. The amount you borrow and the period of payment dictate how soon the payment is approved. Small amounts that are payable within three months get instant approval.

Cobra Payday Loans gives you access to bad credit payday loans of up to £5,000 with repayment periods ranging from 3 months to 36 months. Our mainstream lenders are flexible, and they work together with you to offer the best solution for your unique circumstance.

Why choose Cobra Payday Loans for your bad credit loans?

We have your interest at heart as we endeavour to help you get on your feet. We believe that no one should be penalised because of a past financial mistake. We work with you to facilitate loans regardless of how low your credit score is.

Free service and no hassle

Our efficient market-leading services come at no cost to you. No matter the amount you borrow, we never charge or conduct follow up phone calls. Our communication is through email to help you track information about your loan and application.

How secure is my data?

We guarantee you the utmost confidentiality throughout the entire loan process. Any information shared is only used to match you with lenders. We keep the data in compliance with GDPR 2016. Furthermore, we secure all the data as per the regulations of the Information Commissioner’s Office.

What are the benefits of using payday bad credit loans?

Same day loans are an excellent way of boosting your credit rating score. By paying credit commitments in good time, you boost your credit score. Other ways to do this include:

• Closing down unused bank accounts

• Checking and correcting inaccurate information on credit reference bureau

• Closing down unutilised credit cards

Most lenders encourage borrowers to pay early and benefit from reduced loan interest depending on the loan agreement. Keeping up with repayments shows financial responsibility and management. If you are struggling with repayments, we advise you to talk to your lender in good time. Your lender may offer a repayment holiday or freeze interest and other charges.

What avenues are available if you are struggling with Debt?

National Debt Line – A charity organisation offering free and independent debt advice.

Stepchange – Offers free expert debt advice and solutions.

Money Advice Services – Government-funded service offering free financial education.

Get in touch today

Cobra Payday Loans are here to support you through financial difficulty. Consider applying for a bad credit loan today and be among thousands benefitting from our free service.