Personal Loans
Moneyline Greater Manchester offers loans to people who find it difficult to get
credit elsewhere. If you have been turned away from your bank or building society,
we might be able to help you out.
We can provide loans for many different purposes, just tell us what you need the
money for and we will consider it. We can also direct you to dedicated counselling
services to help you manage short-term debt and offer you advice on access to income
and benefits.
Our loans are repayable for any term up to two years and we charge a fixed rate
of interest so your payments won't change as long as you keep up your repayments.
- How much can I borrow?
How much you can borrow depends on how much money you have coming in, how much you
are paying out, and what you need the money for. You can borrow between £50 and
£1,000. Just ask for the amount you require and we will assess if the repayments
are affordable. As a responsible lender, we will never lend more than you can afford
to repay.
- Who can apply?
You need to be over 18 and you need to have an income, either benefits or wages
and a bank account for us to pay the money into, and take the repayments from. We
don't usually help students, as there are alternative options available to them.
- What do I need to do?
You will need to provide the following:
• Your most recent bank statements covering a minimum of two months
• Wage slips or a benefits letter
• Recent utility bill as proof of address
• Signed identification - passport, driving license or tenancy agreement
We will make a decision on your application when you have provided all of this information.
- How soon will I get the money?
Once your application has been approved and you have signed a Credit Agreement, it takes three working days for the money to go into your account. We do not make payments in cash but we can send the money directly to a supplier if you prefer.
- How do I pay it back?
All our loans have to be paid back by direct debit and repayments can be made weekly or monthly. We do not have payment cards, and we won't come knocking on your door every week
- What if I struggle to pay it back?
If your circumstances change, or if there is a genuine emergency that means you are struggling to meet your repayments, you must contact us straight away. If your circumstances change permanently - for example you separate from your partner or lose your job - we may be able to re-schedule your loan, which means that your payments will be lower but for longer than you first agreed.
You need to let us know if you experience any problems because if you miss payments without contacting us, it may result in court action.