A doorstep loan is a unique alternative to a payday loan. Doorstep loans have been popular here in the UK for many years now with Provident (Provident Financial plc) being the dominant provider commanding a 60% market share via their two doorstep loan companies (Greenwood Personal Credit and Provident Personal Credit). Doorstep loans (otherwise known as home credit loans) typically have between £50 and £500 loan amounts for new customers spread between 14 and 52 weeks. The process is simple in that you apply, a local agent drops off your cash and they will then return each week to collect your payment. These loan period terms are much longer than payday loans making them more manageable loans. As noted, Provident are dominant via their lenders Greenwood and Provident with the other major lender being Shopacheck Financial Services (by Welcome Financial Services).

Compare Doorstep Loan Lenders
Provident Personal Credit | £300 for 31 weeks paying £15 per week = £465 (55%)
Shopacheck Financial Services | £300 for 32 weeks paying £15 per week = £480 (60%)
Greenwood Personal Credit | £300 for 33 weeks paying £15 per week = £495 (65%)

Less Well Known Doorstep Lenders…
Loans at Home 4U | £300 for 32 weeks paying 15 per week = £480 (60%)
Morses Club | £300 for 33 weeks paying £15 per week = £495 (65%)

Rates were collected above for all doorstep loan lenders for a £300 loan paying £15 each week and with the payment periods known, the interest percentage that you would pay on the loan amount borrowed was easy to add. Noting APR rates here doesn’t make much sense, as APR is an annual calculation and these loans are for over several months; same thing goes with payday loans. With the payment terms, you can’t choose a specific number of weeks. Each featured lender has unique terms for example at Provident being 14, 23, 31 or 52 weeks. Greenwood allows only 14 or 33 weeks and Shopacheck don’t provide this data. Doorstep loans are not designed to be fast/instant alike payday loans. The cash is usually paid out within 48 hours. As the norm with subprime loans, these loans are designed for those with poor credit and so acceptances rates are always high.

Top Recommendation: Provident Personal Credit (10 Reasons Why)…



Age: Provident and Greenwood allow customers at 18. Shopacheck is 21 minimum.
Amounts: Provident and Greenwood allow returning customers to have £2500.
Cost: Provident stand tallest, being the cheapest doorstep lender of the bunch.
Company: With over 125 years experience, this is one of the old school lenders.
Coverage: Provident claims to have 11,000 agents, so they operate everywhere.
Ireland: Other than the impressive UK coverage, Provident also provide Ireland loans.
Leader: Provident (with Greenwood) command a 60% market share.
Payments: Flexible payments, you can usually for example make over payments at any time.
Poor Credit: All credit welcomed. Even act as no bank account loans and unemployed loans.
Terms: Provident stretch to 52 weeks for new customers (the longest period available).

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