Top 10 Lists + Full Lender Lists (Linked in Brackets)

New Payday Loan Lenders 2016 (UK)

We have listed below all of the new payday loan lenders that launched in 2016. This was never going to be an extensive list since the payday niche has been in sharp decline since the industry regulator enforced price capping in early 2015. Soon after this occurred many companies closed whilst others adapted their products as instalment loans. As it stands, the known brand new companies to have launched in 2016 offering a month or less are Drafty, Sunshine Credit, The Money Platform and Vivus. Some extra info has been added below. We are currently in the process of adding full profiles for each as well as various other firms that readers may not be familiar with. The companies below are linked once profiled.

New Payday Loan Lenders 2016 (UK)


Drafty Loans

Drafty that arrived in July is the star of the pack (they did pilot since 2015 through Lending Stream). Draty delivers a competitively priced line of credit. This service works alike an overdraft facility. From a designated credit limit, small draws can be made 24/7. There is no determined term and so you can access funding for as long as you please. Interest is charged at just 0.18% per day. You’ll need a good score to get approved.

Response Funding

Response Funding Loans

This is a rebrand of Fancy a Payday who have been trading since 2009. The rebrand took place in March. The owner also operates as THL Direct. Through both sites you’ll receive a 3 month term.

Sunshine Credit

Sunshine Credit Loans

Quick Loan Shop’s Sunshine Credit followed not long after in April. This is a straight forward monthly offering of £100 up to £500. The site isn’t developed well (no login or SSL), but they do score very well in the pricing department. For £100 they charge just £12 over 30 days. At the other brands from the owner you’ll need to pay £24 and so there is a generous 50% saving offered here.

The Money Platform

The Money Platform Loans

The Money Platform is a fresh peer-to-peer platform from Gracombex Ltd. The terms of 3 and 4 weeks can be selected, with the longest repayment standing at 12 weeks (84 days). Customers aren’t offered much choice with the borrowing sums. The lowest amount offered is £250 that then rises up to £500. They are also seeking prime scored borrowers only who are aged at 20 or above. Investors see a potential return of 12%.


Vivus Loans
*Now Closed*

Through all of the listed companies above monthly loans can be accessed. For long term borrowing, Admiral also launched in 2016. The insurance giant offers a competitive rate of just 3.2% APR. If we become aware of any other firms then we’ll quickly get them listed. In a future list we’ll also look at 2015’s newcomers that included the likes of MyKredit, Pogo Loans, Square Today etc.

Data Last Updated: November 2016.