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Unsecured Loans Finance Company For Sale
Location United Kingdom
Asking Price Range < $250K
Gross Revenues $0
Net Profit / Cash Flow $105719
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 Unsecured Loans Finance Company
Ref No: CG066
Location: Essex
Asking price: 95,000
This business provides home collected credit and unsecured personal cash loans made available over a selection of weekly terms. With over 150 clients the loan book value is œ98,500, and annual profits of œ65,000.
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 also offers consolidation loan refinance facilities. The business in general offers interest rates of between 365% and 433% APR.
The business operates in an Essex town 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.
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%,
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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