£100 Loan: Find the Right Deal from 50+ Lenders
Sometimes you just need a small amount of cash to cover an unexpected cost. Whether it’s a car repair, an overdue bill, or a last-minute expense that can’t wait until payday, a £100 loan could be the quickest way to bridge the gap without borrowing more than you need.
At New Horizons, we search over 50 FCA-authorised lenders to find you a £100 loan that fits your circumstances. Our Soft Credit Match technology means you can check your eligibility without leaving any mark on your credit file. There are no fees, no obligation, and you could have an instant decision in minutes.
We’re a credit broker, not a lender, which means we do the searching so you don’t have to. One short application, and you’ll see matched offers from lenders across our panel, including those who specialise in loans for bad credit.
How a £100 Loan Works at New Horizons
Applying for a 100 pound loan through New Horizons is straightforward. Here’s how the process works, step by step:
- Complete our short online form with your personal and financial details
- We run a Soft Credit Match across our panel of over 50 FCA-authorised lenders
- You see your matched loan options instantly, with no impact on your credit score
- Choose the offer that works for you, or walk away with no obligation
- If you accept an offer, the lender completes a full affordability check
- Once approved, funds could be in your account within 15 minutes
The whole process takes just a few minutes, and you can apply 24 hours a day, 7 days a week. Because we use a soft search for the initial match, other lenders won’t be able to see it on your credit report. A hard credit check only happens if you choose to accept a loan offer.
New Horizons has been helping people find the right loan since 2017, and we process over 7,510 loan applications every day. Our loan approval criteria page explains exactly what lenders look for.
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What Can You Use a £100 Loan For?
A £100 loan is one of the smallest amounts you can borrow through our panel, making it a practical option when you need just enough to get through a tight spot. Common reasons people apply for a 100 loan include:
- Emergency car repairs or MOT costs
- An unexpected household bill or utility payment
- Vet bills or medical expenses
- Essential travel costs to get to work
- Replacing a broken appliance like a washing machine or boiler part
- Covering a shortfall before payday
Borrowing only what you need is always a sensible approach. If £100 covers the cost, there’s no reason to borrow more. That said, if you need a slightly larger amount, we also offer £200 loans and £500 loans through the same quick application process.
Eligibility Requirements for a £100 Loan
To apply for a £100 loan through New Horizons, you’ll need to meet some basic requirements. These are standard across most UK lenders:
- Be at least 18 years old
- Be a UK resident
- Have a regular source of income
- Have a valid UK bank account
- Provide accurate personal information
You don’t need a perfect credit score to apply. Many of the lenders in our panel specialise in working with people who have had credit difficulties in the past. What matters most is your current financial situation and whether you can comfortably afford the repayments.
Each lender sets their own specific criteria, so even if one lender can’t help, another might be able to. That’s one of the main advantages of using a broker with access to over 50 FCA-authorised lenders.
Understanding the Costs of a £100 Loan
Transparency about costs is something we take seriously. New Horizons never charges any fees to customers. Our service is completely free to use, and we’re paid by lenders, not by you.
The cost of borrowing £100 will depend on the lender you’re matched with, the repayment term you choose, and your individual circumstances. Here’s what you need to know:
- Our representative APR is 49.9%
- Rates across our lender panel range from 9.3% APR to a maximum of 1721% APR
- The rate you’re offered depends on your credit profile and the lender’s assessment
- Shorter repayment terms generally mean less interest overall
Representative example: Amount of credit: £1,200 for 18 months at £95.44 per month. Total amount repayable: £1,717.83. Interest: £517.83. Interest rate: 49% pa (fixed). Representative 49.9% APR.
With a small loan like £100, keeping the repayment term short is usually the most cost-effective approach. Spreading repayments over a longer period gives you smaller monthly amounts but increases the total interest you’ll pay. Our lender panel offers repayment terms from 3 to 36 months, so you can find a balance that suits your budget. The same applies whether you’re borrowing £100 or looking at a £1,500 loan or £3,000 loan for something bigger.
Some competitors charge significantly higher rates. For example, some direct lenders charge a representative APR of over 800%, which would make the same £100 loan considerably more expensive. By searching across 50+ lenders, we help you find more competitive options.
Can I Get a £100 Loan with Bad Credit?
Yes, you can apply for a £100 loan even if you have a poor credit history. Many of the lenders in our panel work specifically with people who have experienced credit difficulties, whether that’s missed payments, defaults, CCJs, or a low credit score.
Past credit problems don’t define your future. Our lenders look at your current circumstances, including your income and affordability, not just your credit history. While we can’t guarantee approval (that’s always the lender’s decision), we’ll search our full panel of over 50 FCA-authorised lenders to find your best possible match.
The key advantage of our Soft Credit Match is that checking your eligibility won’t affect your credit score. So if you’re worried about adding another hard search to your credit file after being turned down elsewhere, you can see your options here without any risk. Only if you choose to proceed with a lender will they carry out a full credit check.
If you’ve been refused a loan before, our guide offers practical tips on improving your chances of acceptance. You might also want to look at ways to improve your credit score over time.
Why Choose New Horizons for Your £100 Loan
There are plenty of places to look for a £100 loan online, so here’s why thousands of people choose New Horizons every day:
We search over 50 FCA-authorised lenders with one application, saving you time and protecting your credit file. Instead of applying to multiple lenders individually (each leaving a hard search on your record), you apply once with us and see all your matched options.
Our Feefo Gold Trusted Service rating reflects the experience our customers have. We’ve earned it by putting customers first since 2017, and by making three promises we’ve never broken:
- We never sell your data
- We never contact you to sell other products
- We never give consent to others to contact you
We never sell your data. We never spam you. We never share your details without permission. In an industry where data selling and aggressive follow-up calls have been common, our Customer Promise sets us apart.
Our representative APR of 49.9% is significantly lower than many direct lenders in the short-term loan market. Some charge over 800% representative APR for the same type of loan. By comparing across our panel, you’re more likely to find a deal that works for you.
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Borrowing should always be a considered decision, even for small amounts. Before taking out a 100 pound loan, it’s worth exploring whether there are other options available to you:
- Ask your employer for a salary advance if you just need to bridge the gap to payday
- Check whether your bank offers an arranged overdraft, which may be cheaper for very short-term borrowing
- Look into local credit unions, which often offer small loans at lower rates
- Speak to the company you owe money to about a payment plan or extension
- Check whether you’re entitled to any government support or benefits
If you’re finding it hard to keep up with bills or existing debts, free help is available. MoneyHelper offers impartial guidance, and charities like StepChange and Citizens Advice provide free debt advice. National Debtline also offers support over the phone and online.
If a £100 loan is the right choice for your situation, we’re here to help you find the best deal.
£100 Loan vs Direct Lender: What’s the Difference?
When searching for a £100 loan, you’ll come across both brokers (like New Horizons) and direct lenders. Understanding the difference can help you make a better decision.
A direct lender offers their own loan products with their own rates and terms. If you don’t meet their criteria, you’re declined and need to start again somewhere else, each time adding a hard search to your credit file.
As a broker, New Horizons searches over 50 lenders at once, giving you a much wider range of options from a single application. If one lender can’t help, there are dozens more who might. And because we use a soft search initially, your credit score stays protected while you explore your options.
For quick loans where you need a fast decision, our broker model is often more efficient. You’re not limited to one lender’s criteria, and you can compare offers side by side before committing to anything.
Do I Have to Repay a £100 Loan on My Next Payday?
No. Unlike traditional payday loans that required full repayment on your next pay date, a £100 loan through New Horizons can be repaid over a period that suits you.
Our lender panel offers repayment terms from 3 to 36 months. For a small loan of £100, a shorter term of 3 to 6 months will usually make more sense, as it keeps the total interest cost down. But the choice is yours.
If you can afford to repay the loan quickly, that’s generally the most cost-effective option. However, if spreading the cost over a few months makes the repayments more manageable, that’s perfectly fine too. The important thing is choosing a repayment plan you can comfortably afford without stretching your budget.
Need a larger amount with more flexible repayment options? You can also apply for a £1,000 loan, a £2,000 loan, or up to £5,000 through the same quick process. Visit our main borrow money page to see all available amounts.
Frequently Asked Questions About £100 Loans
How quickly can I get a £100 loan?
You could receive funds in your bank account within 15 minutes of being approved by a lender. Our online application takes just a few minutes to complete, and you’ll see matched offers instantly through our Soft Credit Match technology. The exact time funds arrive depends on your bank’s processing policies.
Will applying for a £100 loan affect my credit score?
No, checking your eligibility with New Horizons uses a soft search that won’t affect your credit score. Only you can see a soft search on your credit report. Other lenders and credit agencies can’t see it. A hard credit check only takes place if you accept a loan offer from a lender.
Are there any fees for using New Horizons?
New Horizons never charges any fees to customers. Our service is completely free to use. We’re paid a commission by lenders when a customer accepts a loan offer, so there’s no cost to you whether or not you proceed.
What happens if I’m not matched with a lender?
If we can’t find a match from our panel of over 50 lenders, we’ll let you know. This doesn’t mean you won’t find a loan elsewhere, as different lenders have different criteria. You may want to look at ways to fix your credit score or try again if your circumstances change.
Can I get a £100 loan with no credit check?
All legitimate UK lenders are required by the FCA to carry out credit checks before lending. Any lender claiming to offer a £100 loan with no credit check at all is either being misleading or isn’t properly authorised. However, our initial eligibility check uses a soft search that’s invisible to other lenders and won’t affect your score.
How do I repay a £100 loan?
Repayment terms are agreed between you and the lender. Most lenders set up a direct debit or continuous payment authority for regular repayments on agreed dates. You’ll know exactly how much you need to pay and when before you accept any offer.
Can I repay my £100 loan early?
Most lenders in our panel allow early repayment, and some may reduce the interest charged if you settle early. Check the specific terms of your loan agreement, as policies vary between lenders.
What if I can’t make a repayment?
Contact your lender as soon as possible if you think you’ll miss a payment. They may be able to arrange an alternative repayment plan. Late or missed payments can result in fees ranging from £1 to £100 depending on the lender, and could affect your credit record. For free debt advice, speak to MoneyHelper or StepChange.
Is New Horizons a lender or a broker?
New Horizons is a credit broker, not a lender. We’re an Appointed Representative of Flux Funding Limited (FRN 806333), which is authorised and regulated by the Financial Conduct Authority. We search lenders on your behalf and never lend money directly. New Horizons Finance Ltd, Company No. 11757330, FCA reference number: 834535.
Can I apply for a £100 loan if I’m on benefits?
You may be able to apply if you receive benefits as part of your income. Lenders will assess your overall financial situation, including all income sources, to determine affordability. See our dedicated page on loans for people on benefits for more information.
What documents do I need to apply?
Our online application asks for basic personal details, your employment information, income, and monthly outgoings. You don’t need to upload documents during the initial eligibility check. If a lender wants to proceed, they may ask for additional verification such as bank statements or proof of address.
Can I borrow more than £100 if I need to?
Yes, you can apply for any amount between £50 and £5,000 through New Horizons. If you’re unsure how much you need, it’s usually better to borrow only what’s necessary to keep costs down. But if your situation requires a larger amount, our £300 loan and £500 loan pages may be helpful.
Is my personal information safe with New Horizons?
Your data is protected and encrypted using the latest security measures. We never sell your personal data to third parties, and we never share your details without your permission. Our Customer Promise guarantees it. We’re also registered with the Information Commissioner’s Office (registration number ZA496853).
What’s the difference between APR and interest rate?
The interest rate is the basic cost of borrowing expressed as a percentage. APR (Annual Percentage Rate) includes the interest rate plus any other charges, giving you a more complete picture of the total cost. When comparing loans, APR is the more useful figure because it accounts for all costs, not just the interest.
Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk.
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