Starter loan

For people who receive government benefits and have never had a loan with us before.

A small first loan to get you started with us. Once we know you and you know us, you can borrow more.

A quote about a £500 loan being paid back with interest, displayed on a blue background with black and white decorative elements.

How do we compare?

 A loan with us - 36% APR

Cashfloat - 183% APR

LoanPig - 292% APR

Sunny Loans - 1226% APR

Lending Stream - 1333% APR

With every payment you make, we help you save for a rainy day. It’s called cashback.

Diagram showing two arrows pointing downwards labelled 'Loans' and 'Savings' diverging from a central box labelled 'Repayments'. Below, two boxes are labelled 'Loan Repaid' and 'Savings Pot'. This is the Wessex Community Bank Cashback Loan

Borrow money and when it’s paid back, you could have built up savings you’ve only dreamed about.

Important!

  • You must have at least one of your benefits paid into an account with us

  • You won't receive the loan until we receive your first benefit payment

  • The first loan is £500. Once we get to know you, you could borrow up to £1,800

  • Child benefit

    Child tax credits

    Working tax credits

    PIP or DLA

    Carers allowance

    Single universal credit

    Pension or Pension credit

    ESA

    Income support

  • Yes. You need to have a least one benefit paid into an account with us to make your regular loan repayments.

    Most people choose child benefit, but we accept almost any benefit.

  • That’s OK. We’ll take your loan repayment and send the difference back to your normal bank account the same day, or you can save the difference.

  • We want to help people build their savings.

    With every loan repayment you make, we put a little extra aside into a cashback savings account which you can access when your loan is cleared.

  • We will allocate your loan once we have received your first benefit into your account with us.

Apply