Finio Loans (Now OakbrookAdvance): Types, Eligibility, Interest Rates & Repayment

Quick Take: Finio Loans (Now OakbrookAdvance)

• Finio Loans is a UK direct lender that rebranded to OakbrookAdvance in December 2025 if you're searching for "Finio Loans," you're now looking at the same company under its new name.

• Finio Loans was previously known as Likely Loans, rebranding to Finio Loans in September 2022, and is owned by Oakbrook Finance Limited.

• Loans are unsecured, no-guarantor products, meaning you don't need to be a homeowner to apply.

• The representative APR is 39.9%, though rates can range from 39.9% APR up to a maximum of 69.9% APR depending on your circumstances.

• This is educational content only, not personalized financial advice.

Introduction: Finio Loans (Now OakbrookAdvance)

If you've searched for "Finio Loans" recently and landed on a page telling you the brand no longer exists, you're not imagining things. The lender has changed its trading name but the underlying business, FCA authorisation, and loan products are the same. This guide covers what the company offers, who qualifies, what it costs, and how the application and repayment process works.

Finio Loans Is Now OakbrookAdvance: What Changed?

Finio Loans rebranded in December 2025 to OakbrookAdvance, and it is a trading style of Oakbrook Finance Limited, which can be verified on the FCA register. This isn't the first name change for this lender it previously operated as Likely Loans before becoming Finio Loans in September 2022. Finio Loans | Overview and Alternatives +2

What this means practically:

• If you have an existing Finio Loans account, your loan terms and repayment schedule are unaffected by the rebrand.

• If you're applying new, you'll now do so through the OakbrookAdvance name and website.

• The FCA authorisation, regulatory protections, and underlying lending criteria remain tied to the same registered entity.

Always confirm you're on the current official site before entering personal or banking details search directly for "OakbrookAdvance" rather than clicking older bookmarked links.

What Type of Loans Does It Offer?

The unsecured loans range from £500 up to £5,000, and loan terms run from 12 to 36 months.

• Unsecured personal loans no asset like your home is required as security

• Bad credit / no-guarantor loans designed for people with poor credit scores or a bad credit history, without requiring a guarantor Finio Loans

• Debt consolidation use commonly used to combine existing debts into a single monthly repayment (see our guide on debt consolidation loans for bad credit to compare this route)

Eligibility Requirements

To qualify, you generally need to be aged 18 to 73, a UK resident, have some UK credit history, and have a UK bank account. Applicants with a poor credit score can still apply, provided they haven't been made bankrupt in the last 12 months.

The lender also looks beyond your credit score. It may use Open Banking to connect to your bank account for a clearer view of your financial situation, helping assess affordability.

For a broader look at how affordability checks work across bad credit lenders generally, see our guide on very bad credit loans with no guarantor.

Interest Rates and What a Loan Actually Costs

This is the part worth reading closely before applying.

The representative APR the rate the FCA requires lenders to offer to at least 51% of accepted applicants is 39.9%. However, actual rates range from 39.9% APR up to a maximum of 69.9% APR, depending on your individual risk profile.

Illustrative example (not a personal quote):
Borrowing £2,000 over 24 months at a representative 39.9% APR works out to monthly repayments of £116.07, with a total amount payable of £2,785.68. On a smaller loan, borrowing £1,000 over 12 months at 79.5% APR would mean monthly repayments of £123.40 and a total repayable of £1,480.77 a useful reminder that your actual rate can sit well above the advertised representative figure if your credit profile is weaker.

To see the real cost of any offer you personally receive, run the figures through FinanceFlows' Loan Comparison Calculator rather than relying on advertised rates. For background on how interest is calculated more generally, see how personal loan interest works.

How to Apply

The online application form aims to take no more than around 10 minutes to complete, and typically asks for:

1. Personal and contact details

2. Employment and income information

3. Monthly outgoings

4. UK bank account details

Most lenders in this space, including this one, offer a soft-search eligibility check first. This lets you check your eligibility without affecting your credit score, before a full application triggers a hard search.

Approval and Repayment

If approved, funds are generally transferred directly into your UK bank account, often within 24 hours. Repayments are then collected by direct debit across your agreed term.

If you're weighing this loan against paying down multiple existing debts instead, compare strategies in our guide debt snowball vs. debt avalanche.

Risks and Limitations

• High APR range: With rates up to 69.9%, the total cost can be substantially more than the amount borrowed always check total repayable, not just the monthly figure.

• Credit impact of missed payments: Late or missed repayments can damage your credit file further. See does debt consolidation hurt your credit for how repayment behavior affects your score over time.

• Brand confusion during the rebrand: Double-check you're using the official OakbrookAdvance site, since old "Finio Loans" links may be outdated or, in worse cases, spoofed.

• Not the cheapest option available: While not the most expensive bad credit lender, the representative APR of 39.9% is still relatively high compared to mainstream lenders.

Alternatives Worth Comparing First

• Credit unions typically lower APR caps

• Guarantor loans can reduce your rate if someone co-signs

• Building an emergency fund reduces reliance on borrowing over time; see how to build an emergency fund fast and use the Savings Goal Calculator

• Tightening your monthly budget first our roundup of top budgeting tools & trackers can help free up cash before borrowing

Common Misconceptions: Finio Loans (Now OakbrookAdvance)

"Finio Loans has shut down."
Fact: The brand rebranded to OakbrookAdvance in December 2025 it's the same regulated lender under a new trading name, not a closure.

"The advertised 39.9% APR is what everyone gets."
Fact: That figure only has to apply to at least 51% of accepted applicants your actual rate could be as high as 69.9% APR depending on your credit profile.

"Checking eligibility will hurt my credit score."
Fact: Soft-search eligibility checks don't affect your credit score only a full application does.

Summary: Finio Loans (Now OakbrookAdvance)

Finio Loans hasn't disappeared it now operates as OakbrookAdvance, under the same FCA-regulated entity that previously traded as Likely Loans. The loan products, eligibility approach, and rate structure (39.9%–69.9% APR) remain broadly the same. Before applying, run your actual offered rate through a loan comparison calculator, confirm you're on the correct current site, and weigh cheaper alternatives like credit unions or a guarantor loan first.

Editorial Disclaimer

This content is educational only and not personalized financial, investment, or tax advice. Loan rates, fees, eligibility criteria, and brand names change over time figures in this article reflect information available at the time of publication and may change after publication. Readers should confirm current terms directly with the lender and consider speaking with a qualified financial adviser or free debt charity (such as MoneyHelper or StepChange) for guidance specific to their situation.

📊 Related Tools: Use our mortgage affordability calculator to find out how much house you can afford. Use our compound interest calculator to model how your savings compound over time.

📊 Related Tool: Use our Debt Payoff Calculator to understand how to manage your repayments effectively.

📊 Related Tool: Use our savings goal calculator to calculate the monthly deposit needed to reach your target.