Adam Freeman was accepted to appear on 2008’s The Apprentice show. This entrepreneur however took the decision to withdraw from the process at the last minute that caused a bit of a media storm when Alan Sugar hit out that he had bottled it. Alan Sugar had a point, but this decision would lay the foundations for a thriving new payday loan venture to come to fruition. PDL Finance Ltd would be incorporated on Halloween 2008 and Mr Lender followed in February 2009. Stretch forward to 2014 and this firm would enjoy £8.4 million PBT. They later faced issues when industry capping came into force and so would adapt to restructure their product to cater instalments.
Brand: Mr Lender (aka: MrLender).
Company: PDL Finance Ltd.
Founder: Adam Freeman.
Opening Hours: Monday to Friday (8am-6.30pm), Saturday to Sunday (8am-3.30pm).
Other Projects: Non.
Capfin is another industry newcomer for 2017 although they had been planning a local launch since 2015. This team has been trading in South Africa since April 2011. They would in time also spread out to Australia. Their South African ties relate to the owner (Steinhoff International Holdings NV). Their German/African switch went ahead when Claas Daun and Markus Jooste came together and fused GommaGomma/Steinhoff. If you are unfamiliar with Steinhoff International, this furniture and household giant controls Bensons for Beds and Harveys Furniture as well as Poundland that was acquired for £610 million back in 2016. Financial services isn’t their area of expertise, but this project has worked out well for them so far.
Brand: Capfin (aka: Cap Fin).
Company: Capfin Ltd (subsidiary of Steinhoff International Holdings NV).
Opening Hours: Monday to Friday (9am-5.30pm).
Other Projects: Non.
Street (UK) Cic was formed back in 1999. Cic refers to their business structure as a community interest company. The initial project unleashed was Street UK that was in September 2000. They went on to build out 5 branches across the West Midlands. 2 of which are located in Birmingham and then there is a single branch in Walsall, West Bromwich and Wolverhampton. Whilst becoming quite popular, coverage has been restricted to within 15 miles of a branch. Track Loans arrived recently in 2017 and enjoyed swift early growth. Whilst they too had started localised, they have now become nationwide that is great news for those seeking a low rate loan with bad credit.
Brand: Track Loans (aka: TrackLoans).
Company: Street (UK) Cic.
Opening Hours: Monday to Friday (9.30am-5pm).
Other Projects: Street UK.
Lending Stream is one of the UK’s major instalment loan providers established in 2008. The owner (Global Analytics) operates locally through this company and also Drafty, collectively serving 370,000+ customers. This lender is considered as being the first big name to target the 6 month loan niche. Most companies back then were short term specialised. The FCA’s payday loan cap in 2015 would of course quickly push many of these companies on to instalments where this company had already become firmly established. Those profits generated helped to drive significant ad spends. You would have likely seen their most recent advert (Tight Spot) that features the character Lenny who is played by Christopher Tembey.
Brand: Lending Stream (aka: LendingStream).
Company: Gain Credit Llc (subsidiary of Global Analytics Holdings Inc).
Founder: Krishna Gopinathan.
Opening Hours: Monday to Sunday (8am-8pm).
Other Projects: Drafty.