Micro Lend use the term “Micro Lend UK” on their about page and so I have referenced them with this full name here. This is a newly featured payday lender at Payday Loan Companies, but they have in fact been operating since 2008 to my surprise. This London-based payday lender lends cash between the range of £100 and £1000, although I believe new customers are restricted to £500. When studying various Micro Lend UK reviews online, I spotted a number of responses from their team that stated that they do no carry out credit checks and I will be hoping to confirm this soon. Just to note regarding the application, you are charged £3.50 that is noted as a registration fee and £3 (rather than £3.50) will be refunded if you go ahead and take a loan out with them. For those declined, you will be £3.50 down for your troubles.

I am a litte confused with the reg fee for applicants that are turned down, but perhaps this is in place to make up for the free transfer cost that they promote. There is no online account management and the interest charge is set at £30 per £100, which is good since it includes that free transfer. If they are a no credit check payday lender, then they will be one of very few in the UK! This is not always clear with some lenders such as with WageDayAdvance who promote no credit check payday loans, when in fact a basic credit check is carried out for the purpose of verification. Micro Lend UK should be praised for having a great customer service team according to past customers. What goes against Micro Lend payday loans the most would be that £3.50 registration charge for declines, with frustration being raised since the details of this charge are only found on their privacy policy.

Charges for a £100 Loan:
Charges: £30/£100 interest + £3.50 reg fee (£3 refunded) = £30.50/£100

(tags: micro lend reviews, micro lend uk ltd, micro lending uk, payday lender microlend, payday loans with no credit check)