John Lewis is teaming up with specialist lender Zopa to offer customers personal loans of up to £35,000.
The department store chain and Waitrose owner has an estimated 23 million customers with the new loan offer to be included in its John Lewis Money website.
Quotes will be issued on request with no impact on credit scores and, once approved, the money will be available within two hours.
Loans will run from one year up to seven with a £1,000 minimum.
Andy Piggott, director of credit and banking at John Lewis Money, said: “Zopa Bank has been a trusted partner of ours for almost two years; we’re really excited by this next phase and the ability to offer their loans directly to our customers through our own John Lewis Money website.
“Whether it’s to help with home renovations, buy a car, or to help fund a once-in-a-lifetime trip, we hope that this additional finance option can help our customers turn their ambitions into reality.”
Zopa Bank has 1.3 million customers and was granted a full banking licence in 2020.
Tim Waterman, chief commercial officer at Zopa Bank, added: “Consumers have a long-held trust in John Lewis, and we’re pleased to be working with them to help more people access better-priced credit”.
John Lewis has been recovering rapidly from its problems of two years ago.
Losses have been reduced, while the group recently reported a surge in online traffic following the re-introduction of its ‘never knowingly undersold’ pledge.