Starter Loan - Eastern Savings and Loans
Starter Loan

An affordable alternative for small loans

If you have a lower-than-average credit score, and you’re faced with high-interest options, our Credit Union Starter loan has been designed to help. You can borrow between £300 and £2,000 (42.6% APR on the reducing balance), for an unexpected emergency, a household purchase or a car repair. Apply today and once your application is received we aim to get a decision to you within 3 working days.

  • Open to members only
  • Apply for a loan the same day you join.
  • The quicker you repay, the less interest you pay
  • Loan paid directly into your bank account
  • Build your credit history
Not Available Online

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03336 000690

Monthly Repayment £00.00 *
Total Repayment £00.00 *
* Representative example.

Borrowing £00.00 over Months will cost £00.00/month. Total amount repayable is £00.00 which includes interest at 42.6% APR.

The figures given above are for illustrative purposes only and may not be the APR you receive. The actual interest rates and repayment amounts may vary subject to loan amount and status.

It is easy to apply

1. If you are not a member of ESLCU then you will need to complete an Online joining form, and pay your membership fee by PayPal or debit card by calling the office on 03336 000690, before applying for a loan.

2. Once you are a member, just answer a few short questions on our online loan form. We aim to have a decision for you within 3 working days. You can apply for a loan the same day you join our Credit Union.

3. Set up a standing order from your bank account for the amount you wish to repay.

You can join us online and apply for the loan the same day, all on our website. If you would prefer to do it on paper, you can call us on 03336 000690 and request forms in the post. Complete all the details then return the form to us. 

You may need to provide proof of your income

  1. Payslips/proof of benefits for the last three months
  2. Bank statements for the last three months
  3. Information on all existing loans, credit cards and other debts.

We may ask you to give us read-only access to your bank statements through our trusted partner Consents.Online, this allows our loan officer to see the past ninety days of your bank statement over a secure connection. Alternatively, you can provide printouts of your bank statements, but this will take a few days longer to process while we wait to receive these.

Note: Failure to make scheduled loan repayments will lead to arrears action and may affect your credit history.


It is a small loan from £300 – £2,000 designed to support people who may have a few issues with their credit files. 
Anyone who lives or works in North Essex, Norfolk, Suffolk or Cambridgeshire, or works for one of Payroll Partners like East Suffolk and North Essex NHS Foundation Trust or East of England Coop. (Full list of Partners) can join us and apply.
If your loan is approved, you will need to sign a loan agreement. We will release the funds the same day we received the confirmation of repayments and have the signed loan agreement back. 
You can top up your loan when you have paid ½ of your original loan. You can track the balance of your loan by registering for online banking, or calling us on 03336 000690
As a member of our Credit Union, you can apply for any of our loan products. The amount we lend you will depend on your income and expenditure and passing a credit check. Please see our other loans to find the right product for you. 
You can clear the balance of a loan at any time and we do not charge any fee for this.
We are unlikely to lend to someone currently subject to or recently exited from a DRO, IVA or bankruptcy. You are welcome to open an account and use it to save for a rainy day.

If you can’t find the answer here, please get in touch and we’ll be happy to help

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Members of ABCUL

Members of ABCUL

Your money is protected up to £85,000

Your money is protected up to £85,000

Authorised and Regulated by the Prudential Regulation Authority

Authorised and Regulated by the Prudential Regulation Authority

Members of ABCUL

Your money is protected up to £85,000

Authorised and Regulated by the Prudential Regulation Authority