As a member of the Consumer Credit Association the Business operates under the rules of the Consumer Credit Act 1974.
The business offers weekly loan terms available at varying rates of interest. The business in general offers interest rates of between 846.5% and 1276.1% APR for home collected credit and between 2-3.5% per month for the higher value loans.
The business operates in two Essex towns with the right kind of demographics and has a widespread, loyal customer base.
The collector calls on the customers on a weekly basis, to collect payments and to provide customers with on-going credit facilities as required. The vast majority of payments are collected face to face, on the door.
The business enjoys a 98% retention rate amongst its clients and a collection ratio of 80%.
Most loans are currently between £200 and £800.
Number of Employees: The business employs one collector.
Location Details: There is no property associated with this sale.
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