A decade in lending
We've been in the lending industry since 2012. We are on a mission to improve financial well-being and productivity by providing ethical lending solutions and financial know-how to UK workers.
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There may be a desperate situation where you really need extra cash to see you through to payday, or you may want to change from high-cost debt to a potentially lower-cost loan, or perhaps you’ve been hit with a large, unexpected bill. Most of us have been there.
Our loans work much like salary advances or wage advances. If your loan application is approved, repayments will automatically be deducted from your salary or wages monthly. Our loans are paid back over a period of three months; but you also have the option of paying back the loan early, at no additional cost.
We want to help you cope with a financial emergency or get that much-needed extra cash to see you through to payday. However, it’s really important we help you in the right way. That's why we’ll perform an affordability check during your application to make sure you can afford repayments. We’re a responsible lender. We don't want to put you at risk or in a financially worse position by offering you something you cannot realistically afford. We put your interests first.
You’ll need to provide your contact details, some information about your work, and the card details of your main bank account where you receive your current salary. We will also require Open Banking – a secure connection to your bank account – to perform an affordability check and to generate your personal FinFit budget report.
Open Banking provides us with read-only access. It does not allow us to make changes to your bank account, and you can remove our access at any time. To find out more about how Open Banking can benefit you, see "What is Open Banking?”.
Other requirements include:
You can see how much you'll pay back on our loan application form or our loan calculator on the home page. We also provide you with a schedule, so you know precisely what needs to be paid back and when.
Repayments will come from your salary automatically. This means you’ll have less money going into your bank account and it can affect other payments coming out of your bank account. Or you can pay using your debit card; we will authorise the payment during your loan application, so you don't have to worry about remembering to contact us.
You can also login to your account to make manual or early repayments on your loan. Your account will show your loan status (including how much you still owe) and related documents. There is no penalty charge for early repayments.”
If you change jobs, you should still make loan repayments. You will be able to set up a recurring payment (similar to a standing order) via Open Banking. We will guide you through the process. However, we will still need your permission to set this up. You will also be able to pay back your outstanding loan amount by logging in to your WorkLoan account using the same repayments system.
It's important to let us know that you will be working elsewhere and you keep up with repayments. Late payments could harm your credit score and could adversely affect your ability to gain credit (including mortgages, car finance and mobile contracts) in the future. There is a one-off fee of £15 for late repayments.
We understand that sometimes events happen that are out of your control and could prevent you from making repayments on the specified dates. Or you may be worried about not being able to pay for essentials like utility bills. It's important that you inform us of any financial difficulties or changes in your circumstance that could affect repayments before the date they're due, or as soon as you know about them. We’ll discuss your current situation and agree on an alternative repayment plan. You should be aware that any changes made from your original agreement might have a negative impact on your credit file, and there’s a one-off £15 fee for late repayments.
Whether your loan application is accepted or not, we’ll provide you with a free personal budget report to help you understand your expenses. We believe that managing costs better is the first step towards saving and being prepared for a rainy day. You can also get a free FinFit budget report without applying for a loan.
Find out how our FinFit reports can help you.
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Yes. Whether your loan application is accepted or not, we'll provide you with a free personal budget report to help you understand your expenses. You can also get this free budget planner without applying for a loan.
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Your loan documents and loan balance can be viewed by logging into your WorkLoan Account. You can also make early loan payments when you log in. If you are experiencing difficulties logging in, please contact us. Your FinFit budget report will also be saved in your WorkLoan Account.
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To be eligible or to qualify to apply for a work loan: your employer must be signed up with us; you must have passed your current work probation period; you must be living in the UK, and you must be over 18 years of age.
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If your application is approved, you will have three months to pay back the loan. The loan repayments will be automatically collected from your salary in three equal amounts (also called instalments). Please remember you will have less money going into your bank account while paying off your salary advance loan.
View Making loan repayments FAQs.
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You can borrow between £200 to £1,000 from WorkLoan.