2014 Lender Lists:

Short Term Loans | Payday Loans | Instalment Loans | 12 Month Loans
Doorstep Loans | Guarantor Loans | Logbook Loans

Cash Float is our 3rd introduced payday lender for the 2014 year (the others are Laura Lends and Pixie Loans). Outside of the payday sector, other new entries have included George Banco and On Stride. Cash Float loans is the creation of Western Circle Ltd who are based in Highfield Avenue, London. They can be found at www.cashfloat.co.uk that was setup in April 2014. They offer monthly loans and grant between £100 and £500 to new applicants. In time £1000 is a possible sum for trusted customers. The product cost includes interest, a card validation fee and if same day funding is selected then this attracts a further charge.

The monthly interest is set at £30 per £100 borrowed and the card verification comes in at £0.51. To keep the costs down you may wish to choose their slow transfer option. Otherwise, same day funding is priced at £5. I spotted that this fee was originally pitched at £15, but they have brought it down to the realistic price that you should be paying for an FPS transfer. Each application is securely taken at www.cashfloat.co.uk, but there is currently no login facility handed to the customers. Their times of operation are also restricted to Monday to Friday through the times of 9am until 5pm.

Cash Float has ambitions to become a major player in the local payday sector. Since launching they have already received listings on a wide range of comparison/review websites and so they have started out well. The problem as I see it is that there are already plenty of established lenders charging less than 30% over the month (including speedy funding). Many of the emerging short term loan brands (Peachy, Sunny etc) are also open over the weekend. We are really looking for newcomers that can bring something new to the table that you will won’t find elsewhere. They are of course new and so they may well later adapt.