With an enviable track record of growth and profitability, S&U sought to diversify their lending providers and work with a finance partner who understood their sector and would take a long-term lending view matched to the length of the consumer loans offered.
S&U trades under the brand names Loansathome4u and Advantage Finance. Loansathome4u provides valued home credit facilities to over 85,000 households in the UK via small unsecured personal loans. Advantage Finance has provided motor finance facilities to over 60,000 customers in the UK via hire purchase loans.
With rapid growth in the car finance offering and an average loan duration of four years, M&G’s ability to lend over seven years provided the perfect partnership to fuel growth.
Anthony Coombs, Executive Chairman, S&U plc, said; “M&G was the perfect choice for us. Professional, friendly and insightful, they took the time to really understand our business. It is clear that they invest in building long-term relationships with the businesses they support.”
James Pearce, Head of Direct Lending, M&G Investments, commented; “We are delighted to be supporting S&U, who are a great British success story in personal finance. This is yet another example of the trend we are seeing in lending diversification and how non bank providers like ourselves are meeting business needs.”