After several years of success in the payday loans market, Western Circle Limited has expanded to begin offering bigger and cheaper personal loans online.
Western Circle Limited has made a name for itself by offering responsible payday loans online. Their decision to branch out into the personal loans market through the new brand PersonalLoansNow.co.uk was well received by their customers.
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Western Circle reveals new website, Personal Loans Now, offering bigger and longer instalment loans. (Photo: Business Wire)
- Rather than just extending payday loans over a few months or years, WCL created a whole new product
- Their experience as a payday lender gives their new product a unique edge over other personal loans.
Personal Loans Now: A Whole New Product
In response to the growing demand for bigger and longer instalment loans, WCL has created a new brand: Personal Loans Now. Rather than just offering larger payday loans, they opted to start from scratch with a completely new business model. Jeremy Lloyd, Western Circle's CEO, explains why:
"One of the main reasons for a payday loan's high interest rate is the short loan term and small loan amount. By starting with a much longer and bigger loan, we were able to totally redesign the way our charges work, enabling us to create a far more affordable long term credit option with all the benefits of our online loans."
Making Responsible Credit More Available
As a payday lender, Western Circle developed and fine-tuned their decision process to enable them to determine with a high level of accuracy whether the applicant will benefit from the loan and afford the repayments.
Applying this high-tech decision system to the personal loan market will open up a whole new range of options for an entire population. Thousands of people who would be declined by traditional banks may still be eligible for credit from Personal Loans Now.
Of course, their strict affordability assessment protocol will still be in place, ensuring that the loan repayments will be affordable and help the applicant in their current situation.
Western Circle Limited continues making waves in the online loan market, as it combines far-reaching vision with advanced technology to produce better and safer credit options for UK citizens.
About Western Circle Limited
As a new generation payday lender, Western Circle Limited has approached the market from an entirely new perspective. Combining powerful technology with strong visions, they've re-invented the science of affordable online loans to make them more accessible and safer than ever before. Western Circle Limited is a fully FCA-compliant lender who has already helped over 50,000 people in the UK alone. For them, this is just the beginning.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190327005726/en/
Contacts:
Western Circle Ltd
Kelly Richard, 020-3757-1933
kelly.richard@cashfloat.co.uk
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