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Finance Company For Sale
Location United Kingdom
Asking Price Range < $250K
Gross Revenues $0
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 2000
Number of Employees 1 - 3
Relocatable Not Disclosed
Number of Employees 1 - 3
Real Estate Leased
Training All necessary training and a full handover are available to ensure continuity of trading.
Reason for Sale The owner is seeking to take retirement.
Description Finance Company Specialising in Unsecured, Personal Loans confidentially offered for sale.
Location: East Sussex
Asking price: 95,000
This business specialises in the provision of home collected credit unsecured personal cash loans made available over a selection of weekly terms.
The business operates in the highly localised and very suitable area of East Sussex, with exactly the right kind of demographics the business has built up a widespread, loyal customer base. The collector call on their customers on a weekly basis, to collect payments and to provide customers with on-going credit facilities as required. Customers can pay by cheque delivered by post to the companyys registered address but the vast majority of payments are collected face to face, on the door by a long standing, self employed collector.
Bound by the rules of the Consumer Credit Act 1974( the business is a member of the Consumer Credit Association) and the Data Protection Acts of 1984 and 1998, the business offers weekly loan terms available at varying rates of interest. The business also offers consolidation loan refinance facilities. The business in general offers interest rates of between 365% and 433% APR.
A large proportion of the loans made are higher margin shorter term overlappingg loans whereby a remaining small balance on an existing loan is cleared from a new loan given, with the customer receiving the balance of the new loan less the amount needed to clear the previous loan.
The business enjoys a 98% retention rate amongst its clients and a collection ration of 85%, compared with an industry average of 65%.
The majority of clients are mums with children, many of which are single mums. Many clients are on benefits and thus have a lower credit limit.
Most loans are currently between 200--800.
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