Moneyboat

Moneyboat, short-term loans from a UK direct lender

Moneyboat is a short-term lending entity operating in the UK as a direct lender, meaning no intermediaries: it manages the entire process internally, from application to repayment. Its activity focuses on small-sum loans intended to cover unexpected expenses, and it presents itself as a considered alternative to payday loans.

The company behind the brand is Evergreen Finance London Limited, authorised and regulated by the Financial Conduct Authority (FCA) under register number 674154 to provide short-term loans in the UK.

Loan amounts, terms and conditions

The catalogue covers amounts from £200 to £1,500. New customers can apply for up to £800, while returning customers may be eligible for loans up to £1,500, always subject to affordability checks. Repayment is spread over instalments across a period of 2 to 6 months, with the option of early repayment at no extra charge. The first instalment cannot fall due before five days.

The stated daily interest rate is 0.79%, applied only to the outstanding balance. The company notes that this percentage is below the industry cap of 0.8%. The site shows a representative example: a £400 loan over 4 months, with three monthly repayments of £156.09 and a final repayment of £156.07, totals £624.34 to repay, with a fixed annual interest rate of 288.35% and a representative APR of 1,267.9%.

Requirements and application process

To apply for a loan, you must be over 18, reside in the UK and have a UK bank account, as well as a regular income of at least £1,000. Each application is assessed individually and not based solely on credit history, so the entity accepts applications from people with poor credit ratings or who have been declined elsewhere.

The procedure consists of three steps: the online application, the electronic signature of the loan agreement sent by email after the relevant checks, and the disbursement of the amount into the customer's UK bank account. The company states that the application can be completed in under five minutes and that, once verifications are passed, funds can be transferred in about 15 minutes, although additional documentation may be required.

Typical uses of the loan

The entity directs these products towards one-off, unavoidable expenses such as emergency dental care, car repairs, vet bills, or the replacement and repair of appliances. It expressly advises against using them for luxury items or holidays and recommends adjusting the application to genuine emergency needs. It also warns that a short-term loan is not a long-term financial solution and that it is advisable to review your budget before applying.

Customer service and transparency

Support is provided from the UK, with an in-house team available by phone and email. The entity emphasises that it does not apply broker fees or hidden costs, and that repayment terms are detailed in advance. On its website, it refers to free and independent support organisations such as StepChange, MoneyHelper and National Debtline, and warns that late payments can lead to serious financial problems.

Location and contact

Phone: 020 3818 7470 · Email: thecrew@moneyboat.co.uk