How long after sending acceptance for budgeting loan 2017 versus 2020

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In this blog post, titled: “How long after sending acceptance for budgeting loan 2017 versus 2020”, we discuss what is the DWP Budgeting loan timescale, eligibility criteria for budgeting loans and what can you do with the money if you receive it. 

How long after sending acceptance for budgeting loan 2017 versus 2020. Is there a difference? 

The process of receiving the budgeting loan in your bank account is quite lengthy. 

First, you fill in the form then you return it. Your form will go into a sorting center and from there it will be sent to the processing center.

Once it gets there it will get logged. 

Your form will then be placed into current work. It will then get assessed and an offer will be sent to you.

You are then expected to return the offer. Your offer will be sent to a sorting office and subsequently get sent to a processing office. An acceptance letter will then get logged.

Your acceptance will be put into current work. The acceptance is then processed and finally, the payment is issued.

Truth to be told, there aren’t many differences or improvements since 2017. In 2020, the Social Fund loan online process still takes around 3 weeks after applying for Budgeting Loan.

DWP usually replies with your acceptance after two (2) weeks of your application. It may take up to one more week for the money to clear in the bank and show in your account. 

More about DWP Budgeting Loan below.

DWP Budgeting Loans

DWP budget loans are interest-free, welfare crisis benefits for vulnerable claimants who are on a low income.

They are administered by the Department for Work and Pensions through the Social Fund.

They come in very useful to buy essentials at home as one continues the search for a job.

They can also be used to buy furniture, clothes, and footwear. Budget loans are also used to make advance rent payments and meet the cost of moving homes.

How to apply for Budgeting Loans

To apply for a budgeting loan you have to go through several stages: 

  1.  You fill in the form
  2. You return the form
  3. The form goes to a sorting center
  4. The form is sent to the processing office
  5. The form is logged
  6. The form is then placed into current work
  7. The form is assessed
  8. An offer is sent to you
  9. You return the offer
  10. The offer is sent to a sorting office
  11.   The offer is sent to the processing office
  12. The acceptance letter is logged
  13. The acceptance is put into current work
  14. The acceptance if processed
  15. Your payment is issued.

How long after sending acceptance for budgeting loan? Given that there are so many steps and you are relying on the Royal Mail at least twice during your application- it can take some time.

Budgeting Loan 2020 How Much Can I Get?

You must be claiming one of the qualifying benefits to apply through the Budgeting Loan process.

Certain other eligibility factors determine how much you can get from DWP loans for people on JSA.

Most cash advances must be repaid in full, and within two (2) years. But, they are not taxable.

The lowest amount you can borrow is £100 for this special job seeker benefit crisis loan.

The DWP Budgeting Loan is interest-free. That means you pay back the exact same amount that you borrow.

But, you usually need to pay back the full amount that you borrowed within 104 weeks.

How much Budgeting Loan can I get?

  • £348 (for a single person)
  • £464 (for claimants with a partner)
  • £812 (if you or your partner claim for Child Benefit)

The advance payments have upper limits. So, you cannot owe more than £1,500.

The threshold applies to all Social Security loans and grants.

Budgeting Loan Time Scale 2020

Waiting time for the DWP to consider your application begins from the actual day that they receive it.

It takes up to six (6) weeks to assess and then process a claim. The advance payments go straight into a bank or a building society account.

Budgeting Loan Eligibility

What is the eligibility criteria and how to get a Social Fund payment?

You may qualify and get accepted if either you or your partner, are getting income-related benefits such as:

  • Income Support
  • Income-based Jobseeker’s Allowance (for JSA loans)
  • Income-related Employment and Support Allowance (ESA loan)
  • Pension Credit
  • Universal Credit*

Budgeting Advance Loan Universal Credit

You might qualify for the Budgeting Advance payment if you get Universal Credit.

The eligibility for a Budgeting Advance is not the same as the qualifying criteria for Social Loans from DWP.

So, if you have income below a maximum threshold, and you are:

  • Single: Apply for a Budgeting Advance if your earnings in the 26 week qualifying period are £2,600 (or less).
  • Couples: Apply for a Budgeting Advance if your combined earnings in the 26 week qualifying period are £3,600 or less.

The final decision depends on:

  • Your circumstances and any existing Budgeting Loan or Advance that you may already owe money for.
  • Your personal savings and your ability to pay back the credit payment.

When You Cannot Get Social Security Loans

  • If you have involvement in industrial action at work (e.g. on strike, in a walkout, or in a lockout).
  • If you already owe more than £1,500 in total for Crisis Loans and Budgeting Loans.

What Can Budget Loans DWP Be Used For?

You can use the DWP Social Fund Budgeting Loan payment to help you pay for any of the following items and services.

  • Clothing, footwear, household furniture, or ‘white goods’ equipment (e.g. a washing machine).
  • Improving, maintaining, securing your home.
  • Removal expenses if you move to fresh accommodation.
  • Maternity costs.
  • Funeral expenses.
  • Certain traveling costs within the United Kingdom.
  • Covering advance rental payments.
  • Repaying hire purchase or other debts (to pay for any of the above).
  • Essential traveling expenses or things that help you search for a job or to start work.

How Many Budgeting Loans Can I Have in a Year?

The Social Fund does not stipulate how often you can apply. Even so, they have strict rules for taking out further loans.

But, ‘YES’ you can get another loan even if you already owe money from a previous arrangement.

But, they will consider your circumstances and the amount of debt that you already have.

They will want to know that you can afford to repay a further loan before agreeing to it.

After you apply 

You’ll get a letter telling you if you’ve been offered a loan within:

  • 21 working days if you apply online
  • 25 working days if you apply by post

Accepting the loan

You must sign page 4 of the acceptance letter and return it in the pre-paid envelope provided if you want to accept the loan.

Make sure the reply slip is folded so that the return address is fully visible in the envelope window.

Return it to the address on the letter.

Do not send it to your local Jobcentre Plus office as this may delay getting your loan.

Getting your money

You’ll then receive the money within 21 working days. It’ll be paid into your bank, building society or credit union account.

You’ll get a text message confirming this has been done (or a phone call if you cannot receive text messages).

Call the Social Fund if you have a question about the progress of your application.

Allow 20 working days before phoning if you return your form by post (it may not have been processed before then).

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In this blog post, titled: “How long after sending acceptance for budgeting loan 2017 versus 2020”, we discussed whether there is a difference between the DWP Budgeting loan timescale between 2020 and 2017. 

We also talked about the eligibility criteria for budgeting loans and what can you do with the money if you receive it. 

Please feel free to share your experience, any comments or questions you may have, in the comments section below. 

FAQ about How long after sending acceptance for a budgeting loan 2017

How long does it take for a budgeting loan to go into your account?

It takes around 3 weeks for a budgeting loan to go into your account.

The DWP usually replies with your acceptance after two weeks of your application.

It may take up to one more week for the money to clear in the bank and show in your account.

What time does budgeting loan go in?

Budgeting loans will usually be transferred into your bank account (or other selected place) at the same time as your other benefits are paid.

This is usually around midnight or a few hours after.

Can I get budgeting loan on universal credit?

On Universal Credit, you can get a  ‘budgeting advance’.

If you get a budgeting advance, you’ll get reduced Universal Credit payments until you’ve paid off the amount you borrow.

This will normally be over 12 months.

Can I get a budgeting loan if I already have one?

You can get a budgeting loan if you already have one.

However, the amount you can apply for will be of £300.

If you have no existing Budgeting Loan debt you may be able to have a Budgeting Loan up to your maximum allowable amount. 

Can you pay back a budgeting loan early?

You can pay back a budgeting loan out of your next benefit payment, and you have to pay it back within 12 months.

Can I get a crisis loan?

You can not get a crisis loan, as the system for emergency support is being tightened.

But there are various other funds that cover a fair amount of what crisis loans covered.

What you can get will depend on your situation, including whether you’re on benefits or not.


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