Two Millionth Pound Loaned

Two Millionth Pound Loaned

27 April 2017
A not for profit charity set up to help those who may have suffered at the hands of pay day lenders has loaned it's two millionth pound.
 
Laura Briggs, 24 from Shipley in West Yorkshire was the borrower who took the County Durham based Smarterbuys Store to it's two millionth pound milestone when she secured a new television and tumble dryer through the organisations website.
 
Established in 2013 to offer credit and provide new household goods to housing association tenants across the length and breadth of the country. Smarterbuys Store currently works with 14 housing associations and local authorities and has helped almost 3000 customers.
 
A real alternative to existing companies such as Brighthouse, Buy As You View and Perfect Home. Smarterbuys can provide a far cheaper and more responsible credit alternative because of it's not for profit charitable status.
 
For example, with Smarterbuys the interest rate is 24.19% while well known pay day lenders can charge 66.9% or more on some ranges and even as much as 99% on others.
 
Therefore, it can be up to 40% cheaper to use Smarterbuys than other high street alternatives. The interest which Smarterbuys charges is ploughed back into providing more reasonably priced goods and services to it's customers.
 
Laura Briggs said; "I needed a new TV and a tumble dryer but knew I would have to buy these on finance. I found out about Smarterbuys via a local council website and after some research I realised it was a great option for me."
 
Laura then continued to say; "The payments are smaller and much more manageable than other lenders and they were able to offer a good range of products at a better price and interest rate. It was a really quick and easy online process and I received a decision within a day, my items were delivered shortly after."
 
Finally Laura added: "As an added bonus, a small proportion of each of my monthly repayments is put into a savings account meaning I get a nice cash back surprise after I make my final payment. I'd certainly recommend Smarterbuys as a sensible way to buy essential items and avoid lenders with high charges."
 
Vicky McCourt, Chief Executive with Smarterbuys said; "When cash can be really tight, people who are already financially struggling will often turn to incredibly expensive lending options. We can offer a real and much cheaper alternative. Our team will talk through people's concerns and issues giving honest and direct help and support."
 
Vicky continued by saying; "Lending our two millionth pound shows that awareness is growing but there are still a lot of people who remain unaware that this option could be available to them. We have plans in place to start working with four more housing associations with a further 64,500 tenants."  
 
Fore more information about Smarterbuys and the offers check out www.sbstore.org you can also phone 0300 5000975 or email us at into@sbstore.org
Back