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Frequently Asked Questions

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Who is Oakam?

Oakam provides straightforward and simple financial services for people who find it difficult to borrow from banks. We offer responsible access to credit and are dedicated to serving our customers respectfully and in their language.

Since our first store opening in 2007, we have opened 22 stores across London and the Midlands and serve the rest of the UK over the phone in our Virtual Store (until we open a store near you). Our over 260+ staff speak more than 20+ languages and even more dialects and are happy to help you! Just call or email us for more information or apply via our online application form.

We offer the following services:

  • Oakam Loan (£200-£1000 over 3 or 6 months)
  • Big Plus Loan (£1000-£5000 over 18-36 months)

I am new to the UK. Can Oakam help me with a loan?

Yes. We may be able to lend you money, subject to your financial status.

I don't speak English very well. Can I speak to someone in my own language?

Yes. We know how important it is for you to understand financial matters. Oakam staff come from all over the world and speak 20+ languages including English, Polish, Spanish, Portuguese, German, French, Lithuanian, Greek, Russian, Afrikaans, so if we have a member of staff that speaks your language we will connect you with them.

What does APR mean?

APR stands for Annual Percentage Rate.

The APR is a standard measure used across all credit products to help consumers compare the cost of loans. Because the APR reflects the annual rate of charge for a loan it is not always an easy measure to understand when comparing loans of different lengths.

The APR is, accordingly, an effective comparison tool for similar products but is not, in our view, the most effective way of comparing short term and longer term products. That is why, in addition to the APR, we always show you the total cost of a loan and the individual instalments, i.e. what you actually have to pay back in full. We believe this information gives you a fuller picture of the costs of our loans and should help you make an informed decision whether one of our loans is suitable for you.

I am self-employed. Can I get a loan?

Yes, subject to your financial status.

Can I have a joint application with my partner?


Why do I have to provide references?

We require references as part of our process of establishing your identity. Your references are not required to act as guarantors for your loan.

Can I bring someone to translate for me?

No. However our staff speak over 20 languages both in store and in the contact centre so it is very likely that you will be able to speak to someone in your language.