Representative 535%​ APR.

Warning: Late repayment can cause you serious money problems. For help, go to

The car needs repairs. The washing machine packs up. You have to pay for emergency dental work.

When the unexpected happens, short term loans can be a way of managing these situations without taking on long-term debt.

Try our loan calculator


Why choose Satsuma for a short term loan?

Money in 1 hour

If approved, in most cases hourly pay-outs between 6am-11pm

No hidden fees

Only ever pay back the amount we agree upfront

Our reviews

Our customers rate us 4.68 out of 5., July 2019

Applying with Satsuma

We check your info

It's not a full application so we only need a few details

Protect your credit score

No matter the result, it won't affect your credit score unless you choose to apply

Give you your result

You'll find out in 60 seconds and we'll tell you how much you could borrow. We'll need to check your details if you choose to apply*

What are short term loans?

Many types of loan, such as mortgages and car loans, are for large amounts of money that you pay back over a long period of time.

Short term loans are the opposite. The loan amount is smaller and the repayment time shorter and you will usually be able to get a decision on the same day. They are also available to people who may not have access to credit from banks and other high street lenders. 

Is a short term loan the best solution for me?

For many people, short term loans can be a useful type of finance for covering unplanned costs. For those with poor credit ratings and no access to credit cards or other mainstream credit, they can sometimes be the only option.

In an ideal world, we’d all have a pot of money set aside for emergencies. Sometimes we do, but the unexpected cost is larger than our savings. Other times, several bills or outlays land at the same time and are due before our next payday. In this instance, a short term loan might be the right solution.

What can short term loans be used for?

They shouldn't be used to repay other debt, but if you need a small lump sum, Satsuma short term loans are from £100 to £1,000 (subject to affordability). 

Imagine you’re looking to replace your fridge or washing machine. The most cost-effective way to go about it would be to pick one you like, save up the funds and buy the thing outright.

However, if an essential appliance packs up and you’re left without the luxury of time to save up for it, a short term loan could be the answer. You don't have the cash at the moment, but you could afford to pay back money you’ve borrowed over several months.

What’s the difference between short term loans and payday loans?

You might have heard about payday loans from companies advertising on TV and online. You might also have heard negative news reports in the media. Payday loans are quite different to the short term loans provided by lenders like Satsuma. 

As the name suggests, a payday loan is an amount of money advanced by a lender until the borrower’s next payday.  The lenders make a profit by charging a high rate of interest and having the borrower repay the loan in one go. With a payday loan, you can’t pay the money back in instalments.

By contrast, a short term loan can be taken over a longer term and repaid in monthly or weekly instalments. The option to choose a repayment schedule that suits your circumstances can make paying back this type of loan more manageable and affordable. 

The interest charged on a short term loan is typically lower than on a payday loan, although both types can carry penalties and charges if you don’t keep on top of your repayments.

At Satsuma, we don’t offer payday loans and, unlike other lenders, our short term loans always come with no hidden fees.

Will I qualify for a short term loan?

The answer to this question is dependent on a variety of factors. When you apply for a loan, you’ll be asked about, among other things, your income and outgoings, your age and your financial history. Lenders are also likely to check your credit score with national credit agencies.

If you’re looking for a loan and have a good credit rating, chances are you’ll be accepted by your bank, building society or another mainstream lender. If your credit rating is poor or you’re new to credit, you might have to approach a non-mainstream lender, like Satsuma.

Poor credit ratings and thin credit files present lenders with a risk. They suggest you’re either unproven or have a history of inconsistent repayment, which might mean the lender ultimately loses the money you’ve borrowed. To offset this risk, the cost of a loan (in terms of interest) is likely to be higher than that of a high-street bank lending to a low-risk customer.

The good news is this type of loan can help if you’ve had difficulties in the past and are looking to rebuild your credit rating. Smaller loan amounts can mean smaller repayment amounts. If a borrower can consistently pay back these manageable repayments, the consistency should be acknowledged by credit agencies and reflected in an improved credit score.

Do I need a guarantor?

Guarantor loans are different to short term loans in that they require borrowers to have the financial backing of a third party, usually a family member or friend. If the borrower misses a payment, the guarantor agrees to make the payment on their behalf.

Satsuma doesn’t currently offer guarantor loans, so you don’t need to find a willing third party before you apply for a Satsuma loan.

What happens if my circumstances change?

For better or worse, life is unpredictable. Every day, new situations arise and circumstances change. We know and understand this.

If a change in circumstances means you start to find it difficult to repay your loan, the best thing to do is talk to us about it. We don’t recommend ignoring the situation or hoping things will improve on their own. We treat every customer and every case on an individual basis, and try our best to present a solution that works for everyone.

There are lots of ways to get in touch. You can pick up the phone, send us an email or even drop us a text. One conversation could make all the difference.

How do I choose a short term loan provider? 

There are many short term lenders out there. A quick online search will give you a good idea of just how many, so it makes sense to shop around.

Pay particular attention to the additional fees charged, as well as the interest rate. Never sign up for any loan until you are fully aware of exactly how much you will be paying back.

Why should I choose Satsuma for my short term loan?

There are so many lenders out there offering so many types of loan, choosing the right one for you can be confusing. So, what’s the best way to decide on the right lender for you? Why should you choose Satsuma over all the other options?

There are several key points to consider. First, what’s the interest rate you’ll have to pay? With a Satsuma loan, the APR (annual percentage rate) is calculated before you submit your application. This means you can see exactly how much you need to repay and what your monthly repayments will be, all up front.

With Satsuma, it’s easy to see how much you’re borrowing because your loan is simply the lump sum you want to borrow plus the interest. It’s a simple calculation because, unlike other lenders, Satsuma’s short term loans come with absolutely no hidden fees.

Customers can borrow with confidence, safe in the knowledge that they only need to repay the amount they agreed upfront. With other lenders, this isn’t always the case.

We also pride ourselves on looking after customers throughout the life of their loan. Our Customer Care team is on hand to assist with all loan-related queries, and should be the first port of call for customers experiencing financial difficulties.

The Satsuma experience is very different from that of other lenders. We’re upfront, honest and transparent. We put our customers in control and take the uncertainty out of short term borrowing. We always try to help people, even when others don’t.

When you apply for a short term loan from Satsuma, you always know:

  • We’re a responsible lender. We never let you borrow more than you can afford to pay back.
  • We don’t apply any hidden fees. Ever.
  • Our customer service and payment teams are here to help
  • You won’t need to find a guarantor.
  • Subject to approval, you’ll get the money in your account within an hour (hourly payouts between 6am-11pm).

How long will I have to wait for a decision?

The decision process is normally quick. This is why short term loans are sometimes referred to as 'same day loans.' We realise our loans are often used for emergency situations, so we don't like to make you wait for a decision. Your application will usually be decided on the day you apply.

Are short term loans safe?

All loans carry risk, both for the lender and the borrower. At Satsuma, we take our responsibilities very seriously and won’t lend money to anyone who can't afford to repay it. The last thing we want is customers to take on debt they can't afford. To help us better understand a customer’s ability to repay, we carry out a credit check before making any decision on a loan application.

Are the stories I’ve heard about short term loan companies true?

We’ve all read or heard horror stories in the media about companies issuing small loans with high interest rates that trap borrowers in escalating mountains of debt.

These stories are usually associated with payday loans. Some of these companies have only been in business a few years. Their interest rates can be high and, at times, there can be all sorts of hidden fees and penalties for missing payments.

Satsuma short term loans are quite different. We're a part of Provident Financial Group, which has been in business since 1880 and has built a reputation of responsible lending we’re fiercely proud of. We believe our loans come with a realistic interest rate and reasonable repayment schedules. We also don’t believe in hidden fees.


What are the benefits of short term loans?

The biggest benefit is, of course, the ability to respond to an unexpected event with a lump sum of cash. But, compared to other types of credit, there are other benefits to a Satsuma loan. These include:

  • Money within an hour (hourly payouts between 6am-11pm)
  • Pay back your loan in manageable instalments
  • No guarantor needed
  • Borrow from £100 to £1000 (subject to affordability)
  • Can build up your credit rating if used appropriately

Can a short term loan be good for my credit rating?

Yes, if you stay up to date with your payments. Any type of credit you repay regularly and consistently will look good on your credit file. It’s all about managing your finances and demonstrating you’re not a risk to lenders.

If you do run into difficulties or need more information, we will do everything we can to help.

Should I apply for a Satsuma short term loan?

Depending on your circumstances, you should apply if:

  • You need a lump sum to pay an unexpected expense
  • You need a quick decision
  • You want an alternative to a payday loan
  • You want to repay your loan by instalments
  • You want to know exactly how much you will have to repay
  • You don't want to pay any hidden fees or charges

How do I apply?

Applying for a Satsuma loan is straightforward and can be done entirely online. Before you start, it’s best to get a few things ready, including:

  • A valid email address and mobile phone number
  • Your home address information for the past three years
  • Detail of your regular income and outgoings
  • Your bank account and debit card information

When you've gathered these together, visit this page to begin your application.

* Approval for a Satsuma Loan is subject to successful completion of affordability and identity checks. Satsuma Loans are only available to UK residents who are at least 18 years old and have a valid UK bank account and debit card.

**If approved, hourly pay-outs between 6am-11pm