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The Quick Loan Shop Ltd (TheQuickLoanShopLtd) is a payday lender that entered the industry recently in 2012 at www.thequickloanshopltd.co.uk. You can apply for between £50 to £500 here with there being a fixed 25% interest charge (£25 per £100). It is good to see that they throw in a free Faster Payments Service transfer and so the 25% charge will be the only due cost that makes The Quick Loan Shop Ltd a competitive new lender on the scene. They have opted to lend over the full month, rather than offer flexible terms. I was only recently introduced to them from spotting their listing on a payday loan review site. It is of course early days for this lender, but they do send out great first impressions.

The www.thequickloanshopltd.co.uk site has a catchy design and is fully secure with an account login feature being integrated. There listed email contact is customercare@thequickloanshopltd.co.uk and they hold membership with the CCTA trade association today. From the recent comparison conducted here for monthly payday lenders, there was a few lenders that provided the same overall 25% charge such as for example Early Pay Day Loan (EPDL) and Speedy Cash. Only QuickQuid and Swift Sterling managed to provide improved rates over the month. 25% as an overall charge is actually competitive when you consider that it sits below 1% per day. Many monthly lenders tend to have a similar interest rates in place, but they then add on an expensive transfer fee, but you fortunately won’t find that here.

Category:
Payday Lenders (30 days)

Comparison:
Top 10 Cheapest Payday Loans: The Quick Loan Shop Ltd

Costs:
£25 per £100 (25%) = 0.833% daily (#7 for payday loans).