£2000 Loans?
Getting a credit line might be better for you.
Looking for a £2,000 loan? Try Drafty line of credit
Need a quick financial boost? You might look for a £2,000 loan. However, we believe we offer a superior alternative – a Drafty credit line. Never heard of a credit line? You’re not alone, so read on to see why we’re the crème de la crème.
Here’s what you get from a Drafty credit line:
- Speed - We offer a swift £2,000 loan alternative, meaning you could get cash into your bank in under 90 seconds, if you’re approved
- Borrow what you need – Unlike a £2,000 loan, you can access up to £3,000. You can apply for up to £3,000 and redraw what you need from your approved credit line
- Reuse - Think of Drafty as a pot of money from which you can use as much as you need within your approved credit limit , without reapplying. Yes, it really is that simple
- No fees – The cherry on top? There are no fees. What’s more, you only pay interest on what you use. If you don’t use any of your credit, it doesn’t cost you a thing
We’re fully regulated by the Financial Conduct Authority (FCA). We only offer our credit line to those we think can afford it. We take pride in our customer reviews, which you can read and discover why we’re rated ‘Great’ on Trustpilot.
Need some more convincing? Check out our ‘Compare Loans’ page. It shows you the benefits of our £2,000 loan alternative compared to some of our competitors. If that's not enough, it's easy to find out more about Drafty.
Apply in minutes to see why a Drafty line of credit is worth a closer look.
Representative 96.2% APR (variable)
Can I get a £2000 loan?
There are plenty of lenders willing to offer £2,000 loans, but it all comes down to your eligibility.
Borrowing £2,000 with bad credit could result in sky-high interest rates and repayments you struggle to keep up with. This is where a Drafty line of credit comes in.
We understand people are more than just a number. Yes, we must take all the expected details (we’re just doing our duties as a responsible lender), but we aim to make the process as painless as possible.
What is a Drafty line of credit?
If you’re looking to borrow £2,000, give Drafty a try.
We offer a credit line. It's an alternative to an overdraft or a credit card but, in our opinion, much better.
You’ll only ever pay interest on the cash you withdraw. If you don’t use the funds, you don’t pay – easy. If you do use the funds, it’s much cheaper than going to a £2,000 loan direct lender. A credit line is also cheaper than using most unarranged overdrafts. It’s even cheaper than some arranged overdrafts.
Time is of the essence, so we aim to send the cash to your bank in under 90 seconds* if you’re approved.
Getting Drafty, a £2,000 loan alternative
We're all about making your life as easy as possible.
A Drafty line of credit uses an unintrusive and straightforward application process, like or unlike a quick £2,000 loan. We’ll ask you all the expected questions such as the amount you wish to borrow, your employment details and monthly expenses – nothing too crazy!
We then ensure you pass our financial checks – we never offer anyone our £2,000 loan alternative unless we're confident they can pay it back. As soon as those checks are cleared, we'll send over some terms and conditions and you're good to go!
Apply for a Drafty line of credit
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
What can I use a £2,000 loan for?
£2,000 loans are typically used for unexpected, temporary, or one-off financial outgoings. For example, you could have urgent, unexpected house repairs and need some extra cash to help cover the costs.
A Drafty line of credit works similarly. You can use our quick and easy service the same way you’d use a £2,000 loan, just without the added complications. With us, you get rapid financial support safely and securely.
How do I apply for Drafty, a £2,000 loan alternative?
- Apply – We just need a few personal details to get to know the real you and begin the application process. Representative 96.2% APR (variable)
- Set a credit limit – If you’re approved, you’ll be given a credit limit of up to £3,000. You can then use as much or as little as you want, paying interest only on what you use
- Flexible payment – You repay a minimum amount every month. Want to repay early? That’s ace! It’s easy to make payments on our app
- Fast Cash transfer – Use Drafty whenever you need to and we’ll send the money to your bank in under 90 seconds, if you’re approved
Disadvantages of £2,000 loans
There are a few reasons we believe a Drafty line of credit is better than a £2,000 loan:
High interest rates - If you’re looking to borrow £2,000, lenders might pile on the interest as you’re borrowing over a short period.
Borrowing cycle – As £2,000 loans for bad credit often have higher interest rates, the repayments soon stack up. This could really affect your financial stability in the long term.
Benefits of £2,000 loans for people with bad credit
We can’t claim any benefits of £2,000 loans, as most people don’t choose to need extra cash. However, most £2,000 loans tend to be short term and available quickly, as they’re usually online.
Taking out a £2,000 loan can improve your credit file if you meet your minimum repayments. That’s not exclusive, though. Using a Drafty credit line responsibly will have the same effect and make you more reliable in the eyes of lenders in the future.
Am I eligible to apply for a Drafty line of credit?
We’ll consider you if you're:
- 18 or over and employed
- Earning at least £1,250 a month
- A UK resident with an active bank account and debit card
Once you’ve given us the full shebang, we can check your affordability and agree a credit limit with you if you pass. You will then have quick access to your cash.
Representative 96.2% APR (variable)
Subject to status. T&Cs apply.^
What if my credit line application gets rejected?
Don’t worry if your application gets rejected – it may be down to a factor that’s an easy fix.
Unfortunately, we can’t tell you why your application got rejected. However, if you applied online, we’ll email you with the name of the credit reference agency if you want to check your file.
If you can't see an issue, that doesn’t mean you’ll never get accepted. If your circumstances change for the better or your score goes up, there’s nothing stopping you from applying again in the future.
Contact Drafty today
- Live chat - Log in or create a new Drafty account to speak to our team through our live chat function
- Drop us a message - If you'd like to send us an email, checkout our contact us page and drop us a line. A member of our friendly team will answer your questions as soon as possible
- Give us a call - We're here to answer your calls on 0203 695 8072 from 9am to 6pm Monday to Friday, and 9am to 1pm every Saturday#
£2,000 loans FAQs
What credit score do I need for a £2,000 loan?
Looking for a £2,000 loan with bad credit isn't easy. A poor credit history may make it harder for you to borrow money than it would be for someone with a better credit score. Some lenders will also look at your overall financial situation along with credit checks. Do you know who else does that? Yep, you guessed it – we do!
What is the monthly repayment on a £2,000 loan?
There isn’t a one-size-fits-all approach to £2,000 loan repayments, it all depends on the length of the loan and the interest rate. Here at Drafty, as long as you meet your agreed minimum monthly repayments, you’ll know where you stand with no nasty surprises.
Where can I get a £2,000 loan with bad credit and no guarantor?
Yet again, each lender works differently. Some lenders insist you have a guarantor to ensure you can pay back the loan, others don’t. We aim to make life as simple as we can. You don’t need a guarantor to apply for a Drafty line of credit and we try to consider your personal situation to make things as fair as we can. We’re an extremely responsible lender. We won’t lend you more than you can afford to pay back. Also, our advanced computer underwriting systems will tell if you’re right for the line of credit.
Drafty is an FCA-authorised provider of a Revolving Line of Credit with a credit limit of up to £3000, available to borrow as and when you need it (subject to affordability checks). You only pay interest on what you draw/use.
Representative Example: Assumed credit limit: £1200. Representative 96.2% APR (variable). Annual interest rate 69.4% (variable).
There is no set minimum or maximum repayment term, so long as the minimum monthly repayment sum is met, however, you may repay back early without any fees and save on interest.