Direct Lenders

Direct Lenders - what are they? 

The term Direct Lenders refers to loan providers who fund the requested loans themselves i.e. they don't simply refer applications to other companies who would provide the finance. 

There are various products that fall within the scope of the direct lender, such as mortgage loans, guarantor loans, car finance and short-term and even 'payday loans'. 

Is it better to apply to Direct Lenders? 

This is actually subjective. Brokers used to get a bad reputation in the short-term loan service industry. This is because they charged a fee and didn't provide much value. Times have changed however and Brokers are regulated in the same way Direct Lenders are. Fee's are no longer charged and their services are generally free to applicants. 

The advantage to using a Broker nowadays is that your application is seen by several Direct Lenders. This saves time and energy and provides a better chance of having your loan request being seen and approved by a Lender. 

Applying to a Direct Lender can make the whole process faster. 

What do Direct Lenders see when they view an application? 

Direct Short-term Loan Lenders do not take a view on you as an individual; they are not interested in what a good, nice person you are. Their sole interest is whether you are able to repay the loan you have requested and the level of risk you attach to that. 

This means that they look into your credit file history. 

What data do Lenders use? 

Credit Score. This is very important. It is an instant reveal number that helps dictate your credit-worthiness. 

Residential status. Lenders want to see how stable your life is. How long at your current address. How long at your past addresses. 

Electoral Roll registration. This helps Lenders to confirm your identity, to avoid identity fraud among other things. 

Bankruptcy and/or CCJs. Lenders need to see if there are any defaults on previous credit. 

Credit utilisation. Percentage use of all the credit that banks and card providers have allocated. A lesser percentage is better. 

How many credit applications made in a short period of time. Fewer being better. 

Defaults or missed payments. 

Sharing financial responsibility with another; spouse, for example. Often Applicants have joint accounts with their Partners. 

Bank account details. Confirmation that an account exists in your name. 

Salary and other income, if applicable.

Employment status and the history thereof. How long have you been working? Previous employer history. 

Mortgage or rental commitments. 

Transportation costs. Car loan outgoings. 

Child support commitments. 

All other financial outgoings. Regular bills not in the above such as yoga classes etc. 

Making a decision

When Lenders have all the data that they need to make their decision, they will do so fairly quickly. The reason for this is due to advanced algorithms that they tweak according to their risk model. If your application falls within the green light zone of their risk algorithm the loan will be approved. 


The approving lender will make the payment of the approved loan directly into your chosen bank account. 

If you require a loan from a direct lender, you may apply with us for free appraisal and we offer two types of loans - 30 day short-term loans and instalment loans from 3 to 12 months. 

The Quick Loan Shop has two application forms: 

30 - day loans Apply Here 

Instalment loans Apply Here