Frequently Asked Questions

Here are some of the most popular questions that our customers ask us. We’ve done our best to answer them for you

Does Growing Power offer no credit check loans?
No reputable lender or broker, whether they’re on the Internet or on the High Street, offers no credit check loans. To offer loans legally, lenders and brokers must be authorised and registered by the Financial Conduct Authority (FCA). And the FCA insists that, when a borrower makes a full application for a loan, that a credit search is done and an affordability check is carried out. The lenders on our panel run soft credit checks on borrowers. You can see these soft checks on your files but other lenders can't - and there's no effect on your credit rating. A hard search is only carried out with your permission from the lender we match you with.
If I have bad credit, can I apply for a loan?
Borrowers with bad credit can definitely apply through Growing Power. Many of the lenders on our panel are specialists and they work with people whose credit history is less than perfect or who have no credit history at all. There's no charge for bad credit borrowers to apply through us for a bad credit loan.
How fast will I receive my money?
If you've been approved for a loan, you'll be shown all the details you need to know before you decide whether you want to take it out or not. You’ll have information on the interest rate on your loan and how much your monthly repayments are going to be. If you then agree to the terms and conditions, there'll be a new financial agreement between you and the lender. Depending on your bank's policies and procedures, you could receive the money into your personal account within minutes*.
What are payday loans?
Payday loans are a type of loan designed to help borrowers meet unexpected bills or cover emergency payments when they need the money in a hurry. They're sometimes called payday cash loans or short-term loans. With a payday loan, you repay all the money you've borrowed plus the interest on top when you're paid your next wages (or within 35 days - whatever you agree with the lender). With a short-term loan, you have between 3 and 12 months to pay your lender back by monthly instalments.
When are you open for applications?
We're open 24 hours a day, 7 days a week including Bank Holidays, Christmas Day, and New Year's Day. You can make your application at any time you like. Many of our lenders are also open around the clock and your application will be considered straight away by their computer system so you get a super-fast answer. However, please bear in mind that some of our lenders process loan applications manually so a decision from those lenders will likely take a little longer.
How much can I borrow?
The lenders on our panel offer short term payday loans of between £100 and £10,000. How much you can borrow is up to the lenders we approach on your behalf and their decision is based on what's on your application form and your credit report. All authorised and regulated lenders must carry out affordability checks for all customers as part of their loan application. Our partners don't want to cause borrowers unnecessary stress by lending them an amount they can't afford to repay.
How is Growing Power different to other lenders?
Growing Power is not a lender - we're a broker. We have a panel of lenders we work with and our job is to match the right borrowers with the right lenders. When we receive your application, we then pair you with a lender on our panel likely to approve your application based upon the information you give us.

We can do this because each lender gives us a detailed idea of the type of borrower they like to work with. If we find a lender who has indicated that they're happy to work with you, we'll automatically redirect you to their website to complete your application.

When you've done that, your lender will come back to you with a firm offer if they approve your request. Please note that we can’t guarantee that we will be able to find a lender to help you.
How will Growing Power help me find the right lender?
When we admit a new finance company onto our panel of lenders, we ask them to tell us in detail about the types of borrowers they like to work with. Every lender is different and, to offer you the quickest and most accurate service, we need to know who our lending partners are happiest to work with.

We have over 40 lenders and brokers on our panel and, when you fill out our application form, we only approach those lenders where we can see a good match between you and what they're looking for. This speeds everything up for you meaning that the whole process only takes a few minutes for you to get your answer.
Why should I use a broker and not go direct to a lender?
We know our 40+ partner lenders and the types of borrowers they like to work with very well. We know as soon as you've completed the application form on our site which of our lenders are likely to seriously consider you as a borrower. It takes just 2-3 minutes to complete our application form.

However, if you went to each lender direct, it would take you a lot of time both to find the lenders’ websites and to fill out all of their application forms. And, because each lender would carry out a hard credit search on you when you make an application, your chances of being approved might decline with each new application because of the number of hard searches on your credit file.

With Growing Power, there’s only one hard search done on your file by the lender whose website we redirect you to. We can’t guarantee that we will find every applicant a potential lender.
Who is eligible for a loan?
So that we can match you up to a lender on our panel, we need you to be at least 18 years of age and a permanent UK resident. We'll need you to have a mobile phone number and an email address - you'll be asked to confirm these when you apply for a loan.

If we find you a loan, the lender will also use your email address to send your completed terms and conditions so you have them for your own records. You'll need to have a UK bank account - the lender will send your funds there and collect the repayments from it - which is linked to a debit card. You will also need to be in regular employment earning £750 a month or more.
What do I need to know about quick loans?
If you hear the term "quick loan", what does it mean? It means two things - first, that the process of applying for the loan is fast and you get your answer within a few minutes (normally but not always). There's no paperwork and, to save even more time, no loan agreement to sign and send back (you sign the loan agreement online instead).

Second, if you're approved and you accept the lender's terms and conditions online, you could receive the funds direct into your bank account within minutes*, depending on your bank's policies and procedures.
How do I pay back my payday loan?
Each lender on our panel has their own repayment arrangements and you'll be made aware of them if you receive an offer. Generally, most lenders will collect the repayments on your loan via direct debit or continuous payment authority from the bank account the loan was transferred into originally. You'll be made aware by email when each repayment is coming out and how much is being collected on each date.
Why use Growing Power?
  • Borrow between £100 and £10,000
  • User-friendly application form
  • No obligation on you to accept an offer
  • Cash transfer within minutes*
  • Loan details displayed clearly on screen
  • Bad credit applications possible
  • Use for a wide variety of purposes
  • Funds transferred to your bank account
  • No paperwork
  • Over 40 FCA-authorised and regulated lending partners
  • No fees or charges for our service
  • We take data protection very seriously
  • Around the clock 7-day service
  • Variety of loan repayment terms
  • British-owned and operated
Warning: Late repayment can cause you serious money problems. For help, go to moneyadviceservice.org.uk.