Lightning Loans is a 12 month loan lender that you will find located at www.lightningloans.co.uk. This company appears to have either been setup in 2010 (or much more recently). They did previously trade as Valour Loans and they are owned by the Valour Finance Group who were formed in 2003. They have a few other brands behind them such as Best4Loans that is a brokerage service. Lightning Loans on the other hand is a direct lending arm of the company. They primarily offer a 12 month loan service from £600 to £2000. They do also reference a short term product in their FAQ between £80 and £800.

This payday loan offering displays a term of a single month in the FAQ, however the application form is specific to 12 months and so it is unclear how you can access this smaller product. Anyway, for a £1000 loan over the year the charge would be £1199.96. This includes their payout and processing fee. The headed APR here stands at 427%. The www.lightningloans.co.uk website is encrypted and they even provide an account login facility to every customer that is good to see. It is not made clear when their support team operates across, but it does appear that they close over the weekend.

It is stated that if you fail their credit check then there may still be a chance of acceptance if you can provide a guarantor. No faxing is required and they state that the cash can be received quickly. In their representative example they do note that a payout fee is included. Strangely in the FAQ though it states that applicants may incur a small charge for the same day funding service. With this in mind, the costs may be higher than what has been quoted above. They are more expensive than Pounds to Pocket Loans who head 399% APR (and this is lowered further with their Promo Code).