2014 Lender Lists:

Quid Market @ www.quidmarket.com

Stagemount Ltd’s Quid Market brand reached the sector back in 2009 at www.quidmarket.com. These monthly payday loans have tended to fly under the radar since this launch, with there being little coverage of them across the web. Some popular brokers do attach them to their lending panel though that will be a good business channel. To highlight the product info as it stands, £150 to £225 is set as the first time restriction and £400 was there for those returning, but they have now increased this to £550. The £150 minimum sum does stand on the high side, with perhaps a more ideal starting point being £100.

On the payment calculator they do display a range of terms, but this fits around when your next payday takes place. A fixed interest charge applies over the full month of 30 days. This comes in at £65 per £200 and so this would work out as £32.50 per £100. If applicants are happy to wait on a slow transfer then this is all they’ll need to pay, but for quick transfers there is a £15 charge to be added (this is reduced from the cash sent out). If you wish to choose this then you’ll need to apply before 5pm throughout the week (the Saturday cut-off time is likely to be 2pm).

The Quid Market loans site at www.quidmarket.com enables all customers to control their loan via the secure login page. During Monday to Thursday they are live from 8am to 6.30pm, with Friday being 8am to 6pm and Saturday is 9am to 4pm. Membership is held with the popular CCTA trade association. The Nottingham-based owner (Stagemount) appears to be trading from this sole brand only. This product isn’t too recognisable across the industry, since they aren’t promoted much. The reviews out there are supportive though and that CCTA seal is beneficial. As with many lenders, it is the fast transfer fee that is a major factor impacting the service value.