We're Fully Authorised

Long before the FCA announced rules on capping interest rates and fees and a much-needed shake up of short term loan providers, Smart-Pig.com was already ahead of the game.

We started Smart-Pig.com whist at university to give students who use short term loans in emergencies a much better deal. We recognised that there was a lot wrong with the industry, and we experienced it first hand when one of the founders took out a short term loan in their second year of uni.

In recognition of our founding ethos and drive to give students a better deal with advances of their student loan, Smart-Pig.com has become one of the first Short term loan companies (beating Wonga, Satsuma, Quick Quid and Sunny) to become fully authorised by the FCA to lend to students in receipt of Student Finance.

The assessors noted our excellent customer service and policies to safeguard customers from getting into further debt.

We are extremely pleased that our efforts for fairer, ethical short term loans has been recognised by the Financial Conduct Authority and should serve as reassurance to our customers that they are in safe hands and that we truly know student money.

Here is a recap of our founding policies that makes us that little bit different from the rest.

We were the first short term lender to introduce a 10-day grace period and we now have No Late Payment Fees – When other short term loan providers were charging upwards of £30 in late fees, Smart-Pig.com set a late fee to a sensible limit long before the FCA’s recommendation and now we’ve removed the late payment fees completely. Not only that, but you get 10 days’ grace to put things right without any late marks against your credit file

We were the first short term lender to introduce an interest cap – We go much further than the FCA’s new 100% cap. At Smart-Pig.com we don’t allow anyone to owe more than 50% of what they borrowed, regardless of duration and even if you get into financial difficulties. Our daily interest is 0.8% per day which means a loan of £100 will cost 80p per day and will never rise above £50 in interest, regardless of duration.

We were the first one among short term lenders to recognise student spending habits – We allow you to borrow right up until you get your next student loan, meaning you don’t have to keep rolling over loans and paying uncapped interest each month!

We’ve got sensible limits – We’re here to help; we were at uni, we understand all the finances you’ll have to juggle. So unlike other lenders, we do not keep upping your credit limit to the point where you’ll owe more than you’ll get.

We’ve got a community – We’ve had over 22,000 applicants use us so far, and we’re growing fast. Every term we give away a term’s rent in cash to one of our 13,000 lucky followers on Facebook. We’ve also given away a PS4, an XBOX One and shopping vouchers as well as providing top tips and advice on everything student.

No One Knows Student Money Like Smart-Pig