The Payday Loan Company

Good:
The whole service is done completely 100% online

Bad:
If you miss or do not make the repayment, you can incur a lot of extra charges

Verdict:
Longest running payday company in the UK and you don't even need to be employed to apply, you just need to have a regular income - make sure you can repay the loan when you say you will or you will end up paying extra charges

The PayDay Loan Company offer payday loans between £80 and £800. They do not lend to people who are currently in financial difficulty but they may still be able to help you if you have struggled in the past. This type of loan should only be seen as a loan up until your next payday because if you make payments late or if you miss payments then there will be huge charges incurred on your loan.

To apply, you will need to visit their website and complete their online application. It is only one page long and once you have submitted it, they will give you an instant decision. If you are provisionally accepted, they will contact you and inform you of their decision. They may also ask you to provide other documents to either prove your identity or your income. Once this is complete, you will need to sign the loan agreement - which is done electronically. After that, the money will be transferred into your account.

The PayDay Loan Company are one of the longest running payday loan companies in the UK and their rates are similar to what other payday lenders charge - £25 for every £100 you borrow. Ensure that you can make your repayments on the date agreed otherwise you will end up paying double, sometimes even triple what you originally owed due to extra charges.

Please be aware that The Payday Loan Company acts as a lender but also acts as an affiliate. This means that when you complete your application form, they will tell you if they are able to offer you a loan. If they aren't, they may recommend another company to you. Do not feel as if you have to apply with the suggested company as this may further impact your credit file.