National loans packager V Loans has launched a loans package with Link Loans which allows customers to borrow smaller amounts.
Known as ’baby’ loans, the loans package offers loans between £3,000 and £10,000 with a maximum LTV of 60% including fees and a rate of 13.9%.
Dave Pinnington, business development manager at V Loans, says: “While there has been a shortage of funding generally, it has been difficult to borrow small amounts as lenders have not seen it as economical.
“We are pleased that Link Loans have understood the problem and introduced this product.
“Clients we are dealing with have specific reasons for borrowing, and not every client wants to take on larger amounts than they really need.”
Maeve Ward, head of sales at Link Loans, says: “We are delighted to launch this product and look forward to increasing our business levels in the months to come.”