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Lending Stream: High-Cost Credit for Emergencies Only
Lending Stream offers loans from £50 to £1,500 at APRs up to 1333%. It's only suitable as a last resort when other options are unavailable.
The Quick Version
Lending Stream provides short-term loans from £50 to £1,500 with APRs ranging from 99.9% to a staggering 1333%. It's fast, with approval in minutes, but the high cost makes it a last resort option. Consider all alternatives before committing.
Rates shown are representative. Your actual rate depends on your credit profile. This is not financial advice.
Lending Stream Short-Term Loan
Lending Stream loans are a high-cost credit option for emergencies.
The Numbers
According to Lending Stream, new customers can borrow between £50 and £800, while repeat customers can access up to £1,500. The APR ranges from an eye-watering 99.9% to 1333%. A representative example: borrowing £300 over 6 months at 292% p.a. results in total repayment of £578.36.
What's Actually Good
Lending Stream offers quick access to cash, with applications processed in minutes. There's flexibility in repayment, as loans can be spread over 3 to 6 months. Plus, they consider applicants with bad credit, making it accessible for those in urgent financial need.
The Catch
The major downside is the exorbitant cost. With APRs reaching up to 1333%, this loan is one of the most expensive out there. It's intended purely for emergencies when no other options, like credit unions or low-interest credit cards, are available.
Who Benefits Most
This loan suits those with poor credit who need a small amount of money quickly and have exhausted other borrowing options. If you're unable to secure a loan from a credit union or need immediate funds for an emergency, this may be a fit despite the cost.
The Bottom Line
Lending Stream is only advisable as a last resort due to its high costs. If you're exploring debt consolidation options, consider alternatives like credit unions or lower-rate loans. For more on better options, see our Top Debt Consolidation Loans for September.
