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The Ethical Alternative to a Payday Loan


Here at CLEVR Money, we understand how difficult it can be to stretch your income from one payday to the next. This is especially true in January & February when the months seem so long after the expenses of Christmas, and December often means an early payday.

The trouble is, we’re also seeing a period of rising inflation, with spiralling energy bills and steep hikes in the cost of basic foodstuffs piling pressure onto the finances of virtually everyone. For many people, a payday loan seems like a quick and convenient answer to a temporary shortfall, but it’s important to understand just how quickly a payday loan can turn into a nightmare.


As a responsible lender which cares about the people in our local communities, we exist to offer an alternative to the high-interest payday loans, which often have eye-watering interest rates and scary stuff hidden in the small print.

It’s not difficult to understand the appeal of a payday loan, offering quick access to lending at a time when you need to borrow just to tide you over to the next payday. A payday loan could be used to pay an unexpected utility bill, for example, or just fund that last weekly food shop until the end of a long month. The downside of a payday loan, however, is that the companies providing them are looking for their own payback and maximising profits.


While the repayments on one payday loan can seem affordable, borrowers often find themselves having to take another payday loan out before too much longer, tying them in to ongoing debt. The interest rates can reach into the thousands which, together with those hidden fees and penalties, adds up to far more than you can repay.


Our responsible payday loan alternative, on the other hand, has affordability and convenience front and centre. We’re an ethical lender, and that means that we operate on a not-for-profit basis. You can also apply for our payday loan alternative just as easily online, with a few clicks and providing some information and the money can be in your account quickly.

Our interest rates are capped by the government, meaning they are as fair as possible and ensure it remains affordable for anyone who qualifies for one. When offering a payday loan alternative we also work with our members to make sure the loan works for them, not against them.


We undertake detailed affordability checks on every loan application, and we make sure our members understand exactly how much they’ll be repaying in total. People often think of borrowing money in terms of funding large scale purchases such as a new car, or a modernised kitchen, but a payday loan alternative can be anything from £200 which could make all the difference during a financially difficult month.


Once our members provide us with the information we need, we work to process each short term loan application as quickly as possible. If the payday loan alternative is approved we’ll transfer the money to our member, providing relief from a temporary cash shortfall from an ethical lender. Our responsible approach means that the payday loan alternative we offer is designed to help our members get by with the minimum of stress and the knowledge that they are not being taken advantage of.


Representative example. Borrowing £600 over 12 months requires repayments of £60.28pcm. Total amount repayable £723.36 including interest at 42.6% Representative APR, Annual interest rate (fixed) 36%. The figures given above are for illustrative purposes only. The actual interest rates and repayment amounts may vary subject to loan amount and status



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