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*Borrow up to £995

*Rates from 278% to 1576%

*3-12 month repayment

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*From £1,000 to £25,000

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*3-36 month repayment

How We Can Help

Credit Card Debt

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Professional Loans

Why You Should Compare With Us

You Have Complete Control

A Massive Variety of Loan Types

Safe and Secure Online Process

The Most Reputable UK Lenders

By allowing you to take control of the plan it means that we will be able to find a plan to suit any individuals needs. It doesn’t matter what your circumstances are, we will be able to help you get the finance that you need without the usual hassle involved.

It is easy for you to find the loan that suits your needs best. By filling out one simple online form we will be able to determine exactly which kind of loan will suit your needs the most be it a payday loan, debt consolidation, emergency cash loan or a logbook loan.

In the modern age, our accounts and information are being collected every time we turn our heads. It is our company policy that we will not share any of your personal information with any third party company. We will never sell your data to anyone.

We only work with the most reputable lenders from across the UK. This means that you will never be taken advantage of with hidden fees or false promises. Only the very best and most suitable UK lenders will be put forward when you make your application.

Representative Example:
305.9% APR. £400 borrowed for 90 days.
Total amount repayable is £561.92 in 3 monthly instalments of £187.31.
Interest charged is £161.92, interest rate 161.9% (variable)

Please note:
LoanLingo is NOT a lender – we are a licensed broker working with the most popular direct lenders in the market to find you the most suitable short-term loan plan. Our FREE quoting service compares more than 40 lenders quickly and finds you a lender with the lowest rate that they are willing to lend to you today.

Rates from 45.3% APR to 1575% APR – we provide a no obligation quote, your APR will be based on your personal circumstances

Representative Examples from Competitive Companies

Loan amount
15000
Loan term
3 months
CUSTOMERSCORES
Good
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Loan amount
12000
Loan term
2 Months
CUSTOMERSCORES
Excellent
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Loan Sharks – The Truth Behind The Scare

It has long been the case that as soon as we hear the name ‘shark’ we instantly think of dodgy men lending cash to desperate characters with insane interest rates. Then comes the images of big muscle men being sent round to teach a lesson to someone that has defaulted on payments. This misconception often leaves a lot to be desired, after all, we do not live in a 1920’s gangster movie.

Here we will go through the history of the loan sharks industry and then explain what they represent now.

The Beginning

Loan sharks date all the way back to the 19th century were it was first called ‘salary lending’. In the late 19th century America interest rates were very low due to legal requirements which made small loans very unprofitable for the lenders. At the time the lending or borrowing of small loans was strongly frowned upon by society as borrowers were seen as irresponsible people who could not manage their funds efficiently. As a result of the low interest, the banks and large financial institutes stayed clear of this kind of lending.

There were, however, plenty of people that were willing to act illegally and offer people small loan but with law breakingly high-interest rates. These original loan sharks were confident in their practices, they would even operate out of offices to give an impression of legitimacy. They were also very picky with their clientele, they would not deal with illegitimate borrowers; gamblers, criminals and unemployed people were avoided. A respectable man would have a stable job with which to guarantee payments and would usually be married meaning that he wouldn’t skip town to try and avoid the interest. It also meant that they were open to being blackmailed for public humiliation as it would affect their standing in society by a large proportion.

Social Stigma & Blackmail

In order to get the money from a customer that had defaulted the lender would normally threaten legal action. This was, of course, a bluff as none of the practice was legal to begin with. The lender was hoping that the borrower was ignorant to the legalities involved.

As mentioned above, some lenders would resort to public shaming, this exploited the social stigma of being in debt to loan sharks. Often an agent would be assigned to stand outside their home loudly denouncing them. On some occasions, they would even vandalise their home and whether due to embarrassment, fear or gullibility, the borrower would usually succumb to paying the amount and often extra ‘fees’ for the trouble caused to the lender.

Another option was to threaten to tell the customers employer, many employers would fire an employee if they were in debt to such a disgraceful profession. The employers were worried that a person in debt is more likely to steal from them to pay the debts, or in cases where they worked in shop fronts, as it would affect customer relations greatly.

The End of Salary Lending

At the end of the 19th century and into the 20th, the eradication of salary lending became greatly desired by the people of America and a campaign of opposition began, spearheaded by social elites, businessmen and charity organisations. Business owners were encouraged not to fire people in debt to loan sharks as it unwillingly gave them leverage over the borrower due to blackmailing. Charities were asked to give aid to those suffering to get by due to increasing debts.

The end of this campaign resulted in the drafting of the Uniform Small Loan Law. This law first came into practice in 1917 and brought with it a new class of licensed lenders. The model statute mandated consumer protections and capped the interest rate on loans of $300 or less at 3.5% a month (42% a year), a profitable and legal level for small loans to become legitimate.

Lenders also had to give customers a signed copy of all documentation. All additional charges like ‘late fees’ became illegal and the lenders could no longer get legal power over the customer. As a culmination of these new laws, it became nearly impossible for the usurious lenders to pass themselves off as legal. Small loans also started to become socially accepted and the larger organisations like banks started offering them to the public.

The Rise of the Loan Sharks

Early 20th century saw the rise of bootlegging and organised crime and gun wielding mafia gangs. In the 20’s and 30’s a new breed of illegal lenders emerged from the shadows to fill the gap in the market. They were looking to target the disreputable members of the public that would never get approved by the large corporations due to their high risk. The main difference was the use of violence or the threatening of it instead of public shaming.

The Uniform Small Loan Law had made it almost impossible to intimidate customers with a veneer of legality. Public shaming was much less effective as well as it had become a lot more acceptable to borrow small amounts and many of the people borrowing now were already disreputable.

As a result of all this, violence became a necessary tool though not the only one. These loan sharks worked on a basis of discretion, far more informally than the old salary lenders. Due to the legitimate small loan business, many of the customers that loan sharks now saw were high-risk borrowers that the legal lenders would not work with. These threats of violence were rarely followed through, it is assumed that this is because if they injured their customer then they wouldn’t be able to work and would not be able to pay the instalments.

Another tactic they had was to refuse the borrower future loans. Many customers realised that the threats were not followed through and thus that they could get away with defaulting on payments. In response to this, the loans sharks realised that many of these people relied on monthly borrowing to get by, and so they would simply refuse the borrower future loans.

The Progression of the Mafia

One of the most prominent markets for the loan sharks was the illegal gambling operators as they could not get the law involved in order to collect debts legally. They cooperated with loan sharks against their punters to supply credit and collect payments. Often the loan sharks would act as fences as they dealt with a large number of criminals including thieves. The last of their high-risk customers were the small businessman that were desperate for funding but could not get accepted by legal loan lenders.

Although the reform law was intended to starve the loan sharks into extinction, this species of predatory lender thrived and evolved. The lenders moved from being run by greedy everyday men to being run by criminal syndicates such as the Mafia. Many of these lenders were former bootleggers. At the end of the Prohibition, there were many bootleggers that were in need of a new line of work. The loan sharks corner started to grow rapidly and became a huge underground industry.

Towards the 1960s, loan sharks grew ever more coordinated and could pool information on borrowers to better size up risks and ensure a borrower did not try to pay off one loan by borrowing from other loan sharks. The fearsome reputation of the Mafia or similarly large gangs made the loan shark’s threat of violence more credible and much more real.

The 1960’s Heyday to the Present

Gradually loan sharks drifted away from labour intensive target groups. By the 1960s, the preferred clientele were the small and medium-sized businessman and their owners. Business customers had the advantage of possessing assets that could be seized in cases of default. Additionally, they could be blackmailed into engaging in fraud or laundering money for the illegitimate loan sharks. Gamblers were one of the most lucrative markets, as were other criminals who needed funding for their operations. Once time got to the 1970s, mob loan sharks’ activities seemed to have dwindled away almost completely.

At its top in the 1960s, underworld loan sharks were estimated to be the second most lucrative franchise of organised crime in the United States, after only illegal gambling. The papers in the 1960s were continuously littered with stories of debtors beaten, harassed, and sometimes murdered by mob loan sharks.

The Difference in Modern Loan Sharks

Today the term ‘loan sharks’ is still used and simply refers to brokers of small term loans. Many things have changed about the market including the regulations involved, the legality, the interest rates and the caps. Nowadays we have the UK government run organisation called the FCA (Financial Conduct Authority – www.fca.org.uk) which is there to continuously check on the legitimacy of lenders, so never accept a plan from a lender that is not FCA approved. We also have the UK money advice service (www.moneyadviceservice.org.uk), an impartial organisation set up by the government to give impartial advice to the public.

What all this means is that although the name has stuck for over 100 years, it has very much changed its face. All the practices that we have are highly regulated and completely legitimate, with absolutely no Mafia involvement. But in all seriousness, the image portrayed by loan sharks now is very very different from their origin.

What We Actually Offer

Normally finding a reliable loan lender that fits all the right criteria can be a long and painstakingly difficult process. First, you would have to troll through hundreds of pages online to find reputable lenders. There are so many around that are not legitimate or do not offer what they are promising to do so. Once you have found real lenders you then need to take notes on each of their offers, making sure to find the best interest rates or most suitable plan terms to match what you are searching for. The extent of research required is quite extensive and a very long procedure.

Luckily for you, we have a team of experts that are continuously scrolling the internet to find you the very best lenders and deals. What we end up with is a list of the most reputable lenders from across the entire UK. There are only legitimate plans and official rates in our lists, all of which – including ourselves – are checked by the Government body called the FCA (mentioned above) to make sure that everything is fair and licenced. What this means is that you only need to fill out our application once and send it over to our experts. They will then compare your needs against all of the lenders that we have in our database and what they offer.

Once they have found you the lender that offers you what you want with the best rate available they will check with you first, and if you are ok with it, they will then pass you and your details over to them to finalise the plan. We can do all of this for you in just a few minutes and with absolutely no charge whatsoever and you can have cash in your account in just 15 minutes.

More Loan Shark Options

Here you will find links to more of our Loan Shark pages.

If you have decided that a Loan Shark is the way forward for you then these pages should help you make the right choice as to which kind would be best for you and your situation.

Just click on the other tabs to get a quick explanation as to what kind of page it is.

Licensed Online

Licensed Online

The loan market has been moving more and more online as time passes.

Now in the modern age, you can apply to so many legitimate lenders that are entirely internet based.

Loan Sharks

Loan Sharks

As there are now so many lenders online it can be easy to get confused as to which one to use.

We can help you make the right choice and understand what the differences are between them.

Need a Loan Shark

Need a Loan Shark?

If you have decided that a loan shark is the right option for you then why not take a look.

We can help you choose from over 40 different lenders that will be able to give you the very best rates on the market.

Need a Loan Today

Need a Loan Today?

Getting the cash you need in a hurry can be difficult. Especially when so many companies say it will only take a few minutes to get but they are actually talking about the time needed to fill out their forms.

We will have the money in your account in just 15 minutes from the time of approval, so once you have submitted your form and got approval for the plan.

STATEMENT OF COMMITMENT

  • We promise to do our absolute best to find you a plan that fits your particular circumstances.
  • We will do our utmost to make sure that you fully understand every step of the process and especially the payment plan.
  • We will not charge you for our service and we will never add any hidden charges to the plan.
  • We will always help you if you should need it, all you need to do is use our Contact Us Form if any issue should arise.
  • We only use reputable UK lenders that are, to the best of our knowledge, entirely trustworthy.
  • We will not accept applicants that we do not believe are entirely capable of repaying the amount borrowed.
  • We will never give out a loan to someone we feel will be unable to meet the requirements given by the lenders.
  • We are a broker, not a lender, and we will act as such in all circumstances.

Apply Today to Win!

If you apply for a loan with us between now and the end of summer then you will automatically be entered to win a brand new iPad Pro.
Multiple applications will result in multiple chances.

Competition ends 31st August, hurry and enter now.

Winner will be announced 3 working days after competition end.

3 most recent personal loan reviews

Review of HSBC

I can honestly say that my dealings with HSBC Loans has been easy, quick and efficient. The staff are always polite and courteous and if any problems arise with our account they deal with it very quickly.

Review posted by Mr Baskerville, Southport

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of Payday UK

A very easy process from start to finish, nice and polite team members that talk you through in terms that you can understand and added to that a super quick payout. Will definitely recommend to everyone. Thank you

Review posted by Neil Pattrick, Dunloy

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

Review of We Find Any Loan

Honesty, realistic and genuine. I can't say anymore than that. I had problems with credit in my past that were cleared but unfortunately my credit score was very poor but thankfully wefindanyloan gave me a chance to rebuild that. Thanks again for your support.

Review posted by Peter Watson, Abriachan

  • Customer Service
  • Flexibility
  • Ease Of Use
  • Value For Money

All Reviews have been acquired from uk.trustpilot.com to guarantee authenticity.

LOANLINGO IS A CREDIT BROKER AND NOT A LENDER. We pass your information to a lender once you have been accepted for a plan. We take a fee from the lender only, once you’re approved and we do not add charges to your plan in doing so.
YOU MUST MAKE ALL AGREED PAYMENTS TO AVOID LEGAL ACTION. If for any reason you will be unable to pay the agreed instalment then contact us immediately. Do not ignore the issue as a default payment will not solve itself.
NEVER BORROW MORE THAN YOU CAN AFFORD. Defaulting on payments can lead to serious and life changing financial issues. Make sure you only accept an agreement that is within your ability to repay.
LoanLingo.co.uk is a registered trading style of Serpable Ltd, which is an Introducer Appointed Representative of Quint Group Limited and is entered on the financial services register under the reference number 780328. Quint Group Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450. Serpable Ltd is registered in England and Wales (Company number: 10699069), Registered Office, 17 Collingbourne Avenue, Bournemouth, Dorset. BH6 5QR.