How Much Can I Borrow?

What are short term loans?

Before applying for any kind of financing, it’s important that you know how loans work so you know which type is best for your situation.

Short term loans are any sort of borrowing with a short repayment period. Short term loans are different from other types of borrowing, such as mortgages or car loans, which are taken out for larger amounts and are paid back over several years.

Personal loans like those which we offer at Scotcash have an average repayment period of up to 12 months. We make repaying and applying for a loan both affordable and easy.

We work with you to pick a repayment plan that best suits your financial circumstances. With options to repay weekly, monthly, fortnightly and four weekly, you are in complete control.

How to find a short term loan that suits you

Choosing the right lender for your loan is important. With so many options available, looking for the right loan can be overwhelming. Search results may direct you to expensive forms of borrowing like payday loans, and the difference may not always be obvious.

Payday loans differ from short term loans in that they have extremely high interest rates, they need to be repaid in one lump sum and they may damage your credit score.

When you are applying for a loan, always pick a lender that is FCA (Financial Conduct Authority) approved and only ever borrow an amount that you are confident you can pay back.

Scotcash is an Independent Community Finance Organisation, our mission is to challenge financial exclusion and give our customers the advice, services and loans they need to put them in control of their finances. All of our loans are means tested and we only ever lend what we know you can afford, so you know you are in safe hands with a Scotcash loan.

How much can I borrow with a short term loan?

How much you can borrow with a short term loan will vary with each lender and it will depend on how long the loan is for, and what they think you can afford to repay. Most short term loan lenders will typically allow you to borrow between £100 and £5,000.

At Scotcash, we provide cost-effective loans starting from just £100 and go up to £2,000 or more with a maximum repayment period of 12 months.

Scotcash loans are an ethical alternative to payday loans and other high risk borrowing. We help you when a bank or building society cannot, providing you with affordable loans, financial support and guidance so you can make the most of your money.

Below are examples of popular loan amounts and the overall cost when borrowing from Scotcash.

Loan Amount

Borrow £250

Borrow £300

Borrow £500

Borrow £1,000

Loan Term

6 months

6 months

6 months

12 months

Total Costs
(admin & Interest)

£62.78

£75.34

£125.61

£544.83

Total Repayable

£312.78

£375.34

£625.61

£1,544.83

APR

176.2%

176.3%

176.3%

169.6%

*Monthly repayments

Apply for a Scotcash loan today

Applying for a Scotcash loan is simple, you can use our easy online application form, contact us here or pop by your local branch in Glasgow.

We aim to help as many people as possible with our affordable loan scheme. Once we have received your application we will assess it by looking at your income and expenditure and any existing debts you may have. If you are approved, together we will decide on a repayment plan that works for you.