£5,000 Loan Application

Taking out a £5,000 loan with Progressive Money

If you’re making plans for the future or need to fix up something in the home, you may find some financial assistance is the best way to get the job done. With a 5,000 pound loan from Progressive Money, you can take control. We’ll work with you to discuss a loan duration and monthly repayment plan that’s tailored to your current needs. Choose a long-term deal like a £5,000 loan over 5 years if you feel comfortable with such a loan period, or opt for a different timescale to pay back the money if you so wish.

It may be that you’ve got a poor credit history and don’t feel confident that you’ll get the help you want. We talk to people every day who are in the same boat. We want to help you make the most of your situation – that’s why we look beyond the numbers on a computer screen, so we can fairly assess your circumstances and make a decision based on your present, not your past.

As we offer unsecured loans, you don’t need to worry about tying your borrowing to your property or other assets, so there’s no risk of losing what means the most to you.

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Why take out a £5,000 loan?

There are many uses for a £5,000 loan. Perhaps you’re planning to embark on a home improvement project and are busy budgeting for the materials, parts and labour you’ll need to spend on. Whether you intend to bring in the professionals for a more complex home improvement job, or are planning on getting your own hands dirty, you may find that a £5,000 loan is just what you need to kick-start your plans.

Or maybe you’re in need of a new set of wheels? Whether you’re buying a used car outright or need to secure an initial deposit and a helping hand with the first repayments, borrowing £5,000 for a new car may be an option.

A £5,000 loan might even be used to consolidate your debts if you have a number of monthly outgoings. With different repayment amounts and dates, it can become confusing to keep track of what is being paid out and when. By taking out one loan to pay off all the others, you’ll be left with a single monthly repayment which will help you regain control of your finances.

Whatever your reason for taking out a £5,000 loan, you’ll benefit from our expertise and customer care, with access to your own personal loan account manager. They’re always just a phone call away and happy to deal with any questions you may have.

What a £5,000 loan means for you

If you’re approved for a loan, you’ll receive the funds direct into your bank account, ready for your planned purchase or improvement. Once that’s settled, you’ll begin repaying the loan at the amount and over the period of time that was agreed before your loan was approved.

If you’re worried about the impact of paying back the loan with bad credit, don’t be. Keeping up with monthly £5,000 loan repayments may improve your credit score, as it shows other lenders you’re managing your debts responsibly.

Do I qualify for a £5,000 loan?

As long as you meet the following requirements, you may be eligible for a personal loan from us:

• • Aged 18-70
  • A homeowner
  • Employed or self-employed
  • Living in England, Scotland or Wales
  • Able to afford monthly repayments comfortably from your regular income.

Although we offer unsecured loans, which aren’t tied into your car or home, we still require that you are a homeowner in order to borrow.
We cannot guarantee your personal loan until we have reviewed your current circumstances and the repayments you can afford.

If you’re flexible on the amount you wish to borrow, we offer loans from £1,000 to £15,000. Borrow money over a duration lasting from 18 months to 10 years, at a monthly rate you can afford.

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