This will be dependent on the payday lender you are applying to at the time. A responsible financial lender will generally only allow for one loan at a time to be taken out by a lendee.

At Nimble, we only permit one active loan at a time. This is because whilst we understand our customers can find themselves in difficult financial situations. 

There are many reasons that we don’t allow you to have more than one - our policy is the first one. Our policy stipulates that when you’re in contract with one loan, you cannot be successful in the application for another. Once you have repaid your loan, you are welcome to apply for another Nimble loan once all repayments have been cleared. 

Another reason is that we genuinely care about your repayment schedule, which is why we work with you closely to decide how much you borrow and for how long. The ability to personalise your loan is not a common one, but when we started our Nimble journey back in 2004, we knew that we wanted to be different. We wanted to lend differently, and we knew that we had to offer something suitable to people who didn’t meet the traditional lending requirements.

However, whilst wanting to be different, we never want to encourage financial irresponsibility. We work closely with financial regulatory bodies to ensure we comply with the law and best practices around responsible lending. We work with you to make sure you understand your loan and, most importantly, you understand our Fee Statement. 

You should be wary of loan companies that will offer you more than one payday loan at a time. This is unlikely to be in the best interest of the customer. When choosing a lender, it’s a good idea to check out their online reviews and do some investigating. Look out for things like their score around customer service and transparency - these are important.