Pera Loans

Pera Loans, short-term loans for the Filipino community in the UK

Pera Loans is a short-term lending entity aimed specifically at the Filipino community living in the UK. It operates as a direct lender under the company name Western Circle Ltd, authorised and regulated by the UK Financial Conduct Authority (FCA), and its customer service is provided in Tagalog. The company presents itself as a member of the CCTA, an association that brings together businesses providing credit to consumers.

Loan products and conditions

Pera Loans' range covers amounts between £400 and £2,000, with terms ranging from 3 to 6 months depending on the amount requested. The firm states that it charges no application fee or fast payment fees, and that interest is calculated only for the days the customer keeps the money borrowed. Funding is provided the same day, with the money credited to the account within hours.

The representative example published by the entity describes a £1,000 loan over 6 months: a first payment of £212.55, four payments of £283.40 and a final payment of £141.75, with a total repayment amount of £1,487.90. The representative APR indicated is 336.15% (138.82% per annum fixed). The company notes that the maximum arrears fee is capped at £10 and that there is no card verification cost.

Application process and payment flexibility

Applications can be made online or by phone. The form collects loan details, personal information, monthly income, contribution to household expenses, employment details and bank details. Applicants can choose between weekly or monthly payments and select the repayment day. The entity mentions a feature called Easy-Start that extends the repayment term at no extra cost. Before approval, an affordability check is carried out through credit reference agencies, and applications with a poor credit history are accepted.

Customer profile and purpose of the loans

Pera Loans describes its users as Overseas Filipino Workers (OFW) employed in sectors such as nursing, care and childcare, among others. The entity lists the usual purposes of its loans: home refurbishment, travel, tuition fees and education, medical expenses, moving house, health and wellness, visa processing, and sending money to family in the Philippines (padala).

Affordability assessment and responsible approach

The company states that it receives and assesses thousands of short-term loan applications every month and maintains that it applies its own affordability test to adjust repayment to the applicant's real financial situation. Its public message insists on not granting loans the customer cannot afford and on ensuring applicants understand the product conditions. If an application does not meet its criteria, Pera Loans can act as an intermediary to find an FCA-authorised lender.

Customer testimonials

The website includes reviews from borrowers who highlight the speed of the process, the helpfulness of the staff and the usefulness of the service in situations of financial need. Among the testimonials are those of a nurse from Homerton University Hospital, who is grateful for the support received, and several customers from London who emphasise how easy the application is and how quickly the funds arrive. The reviews are referred to Trustpilot for full consultation.