How it Works

Purple Loans Online

Purple Loans' online loan application works in three simple steps to save our customers time and money. Keeping your loan search simple and straightforward we will search an entire panel of reputable and trusted lenders and brokers, to find credit that meets your individual situation.

After you have completed Step 1 and honestly filled in our one-page form, clicking the “Apply Now” button will pass your details to the lenders and brokers that sit on our market panel.

Purple Loans takes care of Step 2, which is when your application reaches the loan providers we work with. These lenders and brokers are ordered by cheapest APR for your personal situation, offering your application the best chance of being accepted at the lowest rate possible.

It is important to remember that the representative APR associated with short-term loans could seem higher, but it is calculated and expressed as an annual rate. Therefore, the RAPR might look as if it would make repayments less affordable; however, it is essential to take into consideration the repayment term, as that shows a more indicative figure of the APR%. Moreover, before accepting any loan, it is always advisable to ensure you fully understand the lenders' terms of business and the actual cost of borrowing, including any fees that the lender may charge due to late or missed payments.

In addition to the previous point, the RAPR % displayed by Purple Loans is a representative example taken as an average of our market panel. This means that the APR associated with your final loan agreement could be much more or less. Depending on the lender chosen to fund your loan, APR could be as much dependent on the individual applying for the loan as it is the amount and loan length.

Simply enter your details, click ‘Apply Now’ and we’ll do the hard work for you!

After only a few minutes of your time, we will clearly let you know if your application has been accepted. If this is the case our customers progress onto Step 3, where we will assist you to your chosen loan provider’s completion page. Once securely there you can check the fine print details of your agreement, any conditions or terms that are presented by the lender and electronically sign for your short term, Personal & Guarantor finance.

When completing your application, please remember that if your application is accepted before 3pm on a weekday, processing should allow your funds to be transferred on the same day as your application. Unfortunately after 3pm weekdays or during the weekend, due to lender, bank or building society processes; it is possible that you will not have your funds until the next working day after acceptance.

Repaying your cash advance couldn’t be easier as in most instances customers will arrange a repayment date with the lender directly, before signing your agreement and receiving funds. On this date the amount specified shall be automatically debited from the same amount the original loan was paid into. If you would like to re-arrange the date of repayment, or discuss further payment options before the date chosen; Purple Loans always recommends contacting your lender directly in the first instance.

Short Term Representative 305.9% APR

Personal Loans Representative 51.1% APR

Guarantor Loans Representative 49.9% APR

Short Term - Representative 305.9% APR
Personal Loans - Representative 51.1% APR
Guarantor Loans - Representative 49.9% APR