About Cash4UNow Loans
Cash4UNow has been in business since early 2011. This is now the sole operation of Novaloans Ltd. Some time back they did also broker through WiseCash although this project has now ceased. This Leeds-based business has been moderately popular over the years. On a past check-up not that long ago they were Alexa unranked. However they have suddenly managed to jump all the way to #479,289. This is the current #2 rank at 6 months that highlights such a giant leap. It seems unusual that a lender would enjoy such a quick surge especially during the pandemic. They are clearly taking on much more business though as their Trustpilot reviews page has suddenly got much more active.
Cash4UNow’s product has historically been a little more flexible (1m-6m). As it stands today, you can choose either a 4 or a 6 month repayment. Amounts of £150 to £600 are available at first with a future advance maxing at £1000. They’ve done a great job with their loan calculator that rapidly throws up price estimates as you choose your specific payday. The instalment charge of £300 over 6 months came in at £298.86 and so this is just an average sector charge. There is a £5 fee imposed for a late payment. As many as x3 (=£15) could be charged for reference. This lender’s Trustpilot currently hits 88%, but with increasing support this may soon surpass 90%.
About Conduit Loans
The Five Lamps Organisation is an FCA-regulated charity based in Stockton on Tees that was formed in 1985. Five Lamps Trading Ltd was established in 2012, but Conduit which is the active trading arm didn’t spring up until 2017. There was some initial confusion between this featured company and the Scottish version at www.conduitscotland.com. That appears to be composed for mere targeting as they have a Dunfermline office over there. The prices on that side are higher and so we’d advised applying here at www.conduit.org.uk that is open to all UK residents. There had until recently been a pause placed on lending during the pandemic. This has remained, but now based strangely on a high volume of applications.
One of the main gripes with this provider is the conflicting information that they provide on their service. Within the FAQ it states in one section that paperwork must be sent through the post whilst on the same page they state that you can e-sign and complete the process online. There is also a noted £7 faster payments fee listed here. They don’t however reference this on their homepage and so we have added it with the presented costs. Regardless of this fee, they do still pitch the cheapest 6 month loan whether you have good or bad credit. There are different prices in place depending on whether you choose to repay monthly or weekly.
About Creditstar Loans
The Creditstar Group that was established by Aaro Sosaar has been in operation since 2006. They operate today in 8 countries that includes Czech Republic, Denmark, Estonia, Finland, Poland, Spain, Sweden and the UK. Current Alexa data shows that their best visibility is seen in Finland, then Estonia (founder’s home) and then Spain. The brand name in focus is central, but there is also Monefit that is expected to launch in the UK soon. Globally, the Group’s customer base has surpassed 1 million users and there are now 135 staff within the organisation. Local performance hasn’t been great thus far, but with such an impressive global reach there is less reliance on this particular market served.
Creditstar’s site is stylishly designed with just a minor issue being that their calculator freezes once you have entered a few details in. The only workaround for this was to delete the browser’s cache. Moving to the product, amounts of £100 to £600 are accessible to first time borrowers and then the reloan cap rises slightly to £700. A nice touch is that the amounts rise in small £5 increments. Any month can be taken up between 1 and 6. A simple capped £24 per £100 is charged over 30 days. The £300 instalment prices worked out at £157.88 (3m) and £295.90 (6m). Standard working hours are now in place, but they did previously operate 7/7 (9am-8pm).
About WageMe Loans
WageMe was formed in 2012 when they started out as a payday lender. This has remained a single project of the Group. There is a related company called SelectFinance although this is catered towards mortgages. WageMe’s popularity was notable in their early days. This was a company that quickly achieved competitive traffic ranks for all of the major payday related terms in Google search. Offline promotion was also of note. We can for instance recall their logo sitting on the side of many taxis across London. This firm’s progress has however waned to the extent where they are now Alexa unranked. General user feedback isn’t great also by the looks of their Trustpilot listing.
It can be confusing reading through the pages of their site where there is conflicting information on the available amounts, the terms etc. On the homepage they for instance list 1 to 12 months at the top and then 1 to 18 months below. £50 to £5000 is headed as the available amount span. If you run through the main application form both £50 and £80 are however marked out with £100+ only being there to select. On the same form 3 to 18 months are only there (not 1 or 2). There is no loan calculator, with just the single example presented of £144.06 per £300 for a 3 month period. The value here is quite competitive.
About Chloe Brooke Loans
Chloe Brooke Loans (logo branded with Finance) is a Leicester-based lender that has been active since 2016. This is the sole operation of Divine Securities Services Ltd. Whilst this service is targeted at low-income borrowers across Leicester and the Shires counties, anyone from across the UK may qualify. Brooke’s service is competitively priced and flexible, but this company doesn’t have great visibility online as evident from the site being Alexa unranked. There is also no active social media that would surely aid them. As it stands, they appear to be collecting much of their business across their local region where much of their focus has been directed since arriving around 5 years back.
There are 2 products pitched at www.chloebrooke-loans.co.uk. Firstly there is a payday loan packaged as Purple One that runs from £200 up to £500. Interest is charged competitively here at 15% and so if £100 were available over 30 days this would equate as a £15 charge. Since the minimum borrowing sum is however £200 you’d need to access this and pay £30. We then move to instalments with the Aubergine loan. This varies from £200 to £1000 for first time borrowers and there will be a potential future limit of £2000. Terms change in monthly blocks up to 6 months max. There is only an example for this end term at £150 for £300.
About Savvy Loans
Stockport’s Valour Group references operating in FinTech and LegalTech. We aren’t familiar with everything that they have been working on, but their Savvy personal loan product has been central. There was a time when they were brokering under Best4Loans and Money Hotshot, although this is no longer the case. Savvy’s roots head back to 2013, but they had originally used both the Valour and Lightning names for a short period. To date they’ve paid out just over 92,000 loans. They do seem to be doing well as a local business, but have evidently struggled across the wider UK being unranked at Alexa. This is surprising as we can recall them running a TV ad campaign in late 2016.
On a past check this lender offered a starting term of 6 months, but they now offer 4 available selections of 8, 12, 15 and 24 months. Various amounts are assigned to these fixed terms that are £300 to £500 (8m), £501 to £1200 (12m), £1201 to £2000 (15m) and £2001 to £3000 (24m). The rates of interest lower as you climb up the levels. For a year, a charge of £999.92 would apply for £1000. At 2 years, £2999.90 would come in for £3000 that is equivalent of £999.97 for £1k. You could always access £2001, but for display purposes we compare full figures. The Savvy reviews are supportive on Feefo and Trustpilot is good at 88%.
About MyKredit Loans
Global Kapital Group has enjoyed tremendous growth since their formation in 2010. They’ve gone on to employ 2000 staff across 18 countries. A range of sectors have been took on including alternative finance, brokerage, corporate banking and digital banking. Short term lending is an avenue that they have operated in since the year 2015 under MyKredit. This brand has been rolled out across multiple locations worldwide. This has included Australia, Indonesia and Vietnam, but these projects don’t appear to be active today. We are just aware that they are now operating locally and also in Spain. Their Spanish site is currently performing competitively whilst the progress of www.mykredit.com has been more mixed although local competition is much greater.
The MyKredit loans are available over 2, 3 or 4 months. The amounts of £100 to £400 are open to first time applicants moving to a reloan limit of £1000. Pricing over 3 months is £146.43 for £300. As part of the application process you’ll need to verify your salary via Connect-Secure. To touch on late payments, there is no initial fee charged across an extended grace period. £10 would be charged if the payment isn’t collected by the next repayment. It would be possible that this could come sooner though if they were unable to contact you for clarification. When unable, a 2nd CPA attempt would be made after 10 days that if failed would trigger the fee.
About Anico Finance Loans
Anico Finance is a London-based instalment loan provider. There is some uncertainty on the background launch of this firm. Anico Financial Services Ltd was incorporated in 2010. It wasn’t until late 2014 that www.anicofinance.com was composed though and they later began building their social media properties across 2015. When reaching the site you’ll see a clear focus on the Filipino community. This is a popular niche that we’ve seen targeted elsewhere by Kabayan Finance and Pera Loans. The standout feature here is competitive pricing, whilst the main drawback is the inability to apply online. You’ll either need to give them a call or if you’re based locally then you can pop into their London office.
As part of the application process documents will need to be issued, but they state that there is an easy way of getting them across. Anico’s product delivers between £300 and £1000 to first time borrowers whilst reloaning extends to £2000. The term range is 3 to 12 months, but it isn’t made clear if full monthly selections can be made. Pricing is competitive with a fixed rate of 98% that is applied on an annual basis rather than against a reducing balance. When accessing £300 you’d pay £73.50 (3m) or £147 (6m). They don’t charge late payment fees. All applicants must be aged 21 or above. External reviews are lacking and unfortunately their operational hours aren’t shared.
About The Money Platform Loans
The Money Platform is a short term structured peer-to-peer platform targeting credit-worthy individuals. This service was launched by Gracombex Ltd back in 2016. Their growth since has been gradual across this time. Breaking through would have surely come easier if they went down the subprime route. This has been working well recently with Fund Ourselves and GuarantorMyLoan. TMP’s service could also do with some tinkering on the flexibility side. As it stands, those borrowing are only granted 4 amount picks across select weekly terms. There is firstly £250 over 8 or 12 weeks and then £500 covers 6, 8 and 12 weeks. Both £750 and £1000 open up all available choices of 4, 6, 8 and 12 weeks.
As a result of these restrictions, we had to compare the 4 week price at £750 and the 12 week option at £250. The £750 4w charge sits at £147. If £100 were available then this would calculate as £19.60 that is over 28 days equating to 0.7% daily interest. Pricing is variable since lenders can lend at 0.7% or 0.8%. When charged at the cap rate of 0.8% you’d pay £168 for £750 that translates as £22.40 per £100. The cost would be £24 for a full month of 30 days, but 28 days is set here. A lender receives 50% of the interest paid and the other 50% is assigned as the TMP loan administration fee.
About MoneyBoat Loans
MoneyBoat was launched by Evergreen Finance London Ltd several years back in 2014. To date they’ve helped close to 103,000 customers across the UK. MoneyBoat’s traffic ranks continue to impress with a big improvement evident across 2021. Today they’ve managed to develop impressive search engine visibility for key niche terms and there is an extra push coming from Google ads. This has helped them to compete as a top 5 brand in the competitive 3 and 6 month instalment sectors. MoneyBoat’s service enables any monthly selection between 2 and 6. Amounts of £200 up to £800 are open to first time applicants. With trust earned, reloan customers see a level increase as high as £1500.
For pricing examples, our past checks per £300 showed £136.30 (3m) and £259.64 (6m). It’s tricky to confirm these now as their calculator shows fixed examples based on the current date when you are paid on the last working day of the month. Bad credit is considered and speedy payouts are promised at www.moneyboat.co.uk that has a smooth looking design. The MoneyBoat loans come with a 3 day grace period on late payments before any fee is applied (a £15 fee is charge failing this period). There is to note a minimum required monthly income of £1000 in your pay packet. MoneyBoat’s review feedback at Trustpilot scores well at 92% from soon approaching 5000 reviews.