FLM Loans looking to boost lending to brokers

Bournemouth based sub-prime loan lender FLM Loans, part of the Richmond Group is looking to bolster its distribution through secured loan brokers.

The lender says it is in a unique position to offer unsecured loans up to £3.000 to clients on a low income or with bad credit history problems, on the condition they can offer a guarantor.

Nick Fletcher, brand manager at FLM Loans says it already has a number of intermediaries on its distribution list but is looking to increase this.

He says: “We have a niche product to match the client’s needs and are able to offer loans to those that wouldn’t normally be eligible and have been refused elsewhere. The loan will be paid to the guarantor who will pass it on to the applicant.

“A guarantor will normally be a family member or friend, as long as they are a homeowner earning a net income of £800 per month or more.”

If the loan is outside this criteria The Richmond group also has an unsecured Loan brokerage Advantage loans & Tennant Loans which specialise in placing clients with an adverse history.