Pay Day Loan and Guarantor Term Loan Book – Sold.
Offered for sale on behalf of the proposed Administrator.
An opportunity exists to purchase the existing loan books of the Company which comprises two loan books:
- Payday loan book – net loan value £18,721,581.25; 60951 individual loans
- Guarantor term loan book – net loan value £426,812.79; 228 individual loans
The purchase will be executed at the earliest opportunity. All interested parties will be requested to sign a non-disclosure agreement and specifically deal with the Vendor. All interested parties will be required to demonstrate FCA compliance.
- Exiting Pay day loan book and guarantor term loan books of FCA regulated lender;
- UK based loans;
- Assignable loans with rights of data usage presenting significant cross selling opportunities;
- Additional data sets in relation to settled and completed loan customers available;
- Current collections averaging circa £50,000 per month from only circa 3000 customers;
- Huge potential to enhance rate of collection;
- Customer telephone details recently validated;
- Immediately available.
High Level Financial Information:
Book 1: Pay Day Loan Book:
Net Loan Value: £18,721,581
Number of Customers: 60,951
Average Monthly Collection (circ. 3,000 customers): £42,000
Book 2: Guarantor Loan Book
Net Loan Value: £426,812.25
Number of Customers: 228
Average monthly collection: £8,000
Deadline for Offers:
Indicative offers including proof of funding should be submitted at the earliest opportunity.
Please contact Damian Short on 0161 359 4332 or by email [email protected]