2229.8%
£100 - £1,000
Minimum Term 7 days
New customers up to £500 - 69 days
Existing customers up to £1,000 - 69 days
Deducted from your debit card
It could take up to 24 hours, but they aim to get your money to your within 2 hours
£3.50
If you are going to struggle to make your payment, email them 3 days before your payment due date and they will help you out
Transferred into your bank account
No
291st for APR of 423 loans in the UK (See Lender League Table By APR)
82nd for Customer Satisfaction (See Customer Reviews)
MicroLend will lend first time borrowers anything from £100 - £500. This can be increased to £1,000 if you borrow from them regularly and always pay your loans off on time. For every £100 you borrow, you must pay back £130, which is slightly more expensive compared to other lenders.
You can apply online with MicroLend or over the phone. To apply online, you need to complete the application form on their website. Once you have completed the form, they will contact you within 24 hours, via email, informing you of their decision. They can ask for you to provide them with certain documents but this is the exception rather than the rule. If not, they will send you a loan agreement which you must read, agree to and sign. This is your promise to say you will pay the loan back on the date quoted. They aim to get the funds into your account within 4 hours but it can take up to 24.
Make sure you can pay them back when you say you can or you will be charged extra. They have been known to debit the whole balance from your debit card without telling you, even if you have set up a payment plan. There are a few customer reviews on the web which say that they have been charged a registration fee of £3.50 even though they didn't take the loan out in the end, so be aware of this! But, if you are accepted for a loan, they will refund you £3.00.
Average Customer Review:
(42 customer reviews)
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Good Experience
George, London
4 months ago
Upfront, professional and human approach. Very helpful and courteous staff.
WARNING DO NOT TOUCH THEM WITH A BARGEPOLE!!!
Skint, My town
1 year ago
After being harrassed at work by this company, I agreed a payment plan with Micro Lend to pay off the balance of £160 over three months at £40 per month. They agreed to remove all interest and charges. They then took £800 from my debit card, leaving me with no money whatsoever. Enough said.
Really Good Lender
Tommy, East london
3 weeks ago
A good bunch, helpful, smart and honest. I love the below post "I lost my debit card!" and then "going through financial troubles" LOL LOL classic attempt to default. I actually spoke to David Greenspan when I took out my loan and really got on with him, interestingly enough I didn't loose my debit card or try to shaft them! :-) I'd rather not say.... save it.
David Greenspan and Microlend
I'd rather not say, I'd rather not say
1 month ago
Mr ***** at Microlend is possibly the most objectionable human being I've ever had the misfortune to deal with. He's rude, he's patronising and he's downright nasty! I know he's a money lender but really...! Having borrowed £200 I defaulted on my first payment because I lost my debit card and had to cancel it. Despite trying to explain the situation and how I would correct matters he proceeded to be verbally abusive and harass me at work by calling my colleagues. After several days of this treatment he suddenly change his attitude saying I could pay back the loan in £50 installments and he would even waive the interest. It was a relief! On my next payday Microlend took £50 from my account as agreed but my bank then informed me they were attempting £501, fortunately I was able to prevent that withdrawal. On contacting ***** he was again abusive and threatened further calls to work. He contradicted himself by saying he knew nothing of the £501 withdrawal and then said the additions were for 'hidden charges' for defaulting. I insisted that he provide a bank account and sort code so I could repay the loan that way and despite yet more abuse he agreed. I paid the loan in full with interest the next day. The whole incident was made much more stressful by feeling that ***** was actually goading and laughing at me. All quite bizarre! I had no intension of swindling Microlend of £200 and it's a real pity Mr ***** hadn't the decency to listen to me. My conclusion is - avoid payday loan companies and Microlend in particular, like the plague.
X
Best Company around...
Sharon, Edinburgh
2 months ago
I have used may payday loan companies and Microlend are by far, the best. I fell into difficulties about 18 months ago and together we set up a payment plan which i could afford. They never threatened or intimated my unlike other companies ! They have been nothing short of efficient, friendly and professional but most of all, human! I now use them regularly and i know they are there when i need them.
Micro Lend UK, PO BOX 48563, London, NW4 9BA
0845 116 8000
0845 116 8001
info@microlend.co.uk
