Mon, Tue & Fri: 9:30am - 1:00pm
01376 516994
The Centre • Newland Street • Witham • CM8 1AH

Loans may be scheduled for up to three years and can be used for a variety of purposes.

Short Term Loans are our affordable alternative to payday loans from payday lenders who often charge very high rates of interest.   

Why our members love our loans:-  

  • Highly competitive interest rates. 
  • Repayments are tailored to individual circumstances. 
  • The interest charged varies from 2% - 3% per month on the reducing balance (unlike most lenders and equivalent to 26.7% - 36.8% APR).
  • Because you only pay interest on the declining balance, you pay a maximum total interest of 18.4% for the year. 
  • We're one of the best options for small loans. 
  • Most High Street banks don’t lend less than £2,500 and usually for a minimum of 12 months.  

We can help you to manage your loan sustainably.

  • We do not charge an arrangement fee.
  • We do not make you pay an early repayment penalty. If you repay early then you save interest.
  • Loan decisions are made quickly. 
  • You can pay flexibly - weekly, fortnightly or monthly.
  • Continue to save as you repay your loan.
  • Only members aged 18 or over are eligible to apply for a loan.
  • A member can apply for a loan after making six regular savings deposits.
  • If you wish to apply for a loan but are not currently a member please contact the office to discuss your options.
  • Loans within shares may be granted straight away, loans which exceed the amount of savings take a little longer and have to be discussed by the Credit Committee
  • All Loan decisions are based on your ability to repay.