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Progressive Money

Progressive money is a direct loan lender. They are also a credit broker and have the advantage of helping their customers to seek out other options by referring them to a third party if for some reasons they can’t offer the needed financial assistance.

As part of their uniqueness, Progressive Money lends money to people who have been turned down somewhere else.

Loan Requirements

  • The borrower must be aged 21 to 70.
  • He must be a homeowner.
  • A UK resident.
  • A normal income that is enough to meet monthly repayment.
  • Over £1,000 monthly income.
  • Must not be bankrupt currently.
  • He must not be registered on any Debt Management Plan or an IVA.

Services rendered

Progressive money offered two loan options for their customers. These are:

Homeowner personal loans:  This is a loan given to homeowner after he has proved that he owns a home. However, the loan is not a security for the loan. This gives homeowners who are in need of some extra buck but don’t want to risk their property to a platform for achieving their dream. This company allows the borrower to use the loan for whatever he or she likes such as home improvement, purchasing a new motorcycle or car, to consolidate other debts or a to finance a wedding. As a homeowner, you can borrow up to £15,000 with a flexible payment plan that allows you to spread your payment over 15 years.

Bad credit personal loans: Customers with bad credit score can also have access to a good loan here. The company lends these people money based on their financial situation, and not on their credit history.

For their loans, the company charges an acceptance fee which is 10% of the money borrowed. Apart from this fee, the company also charges £295.00 as the administration charge.

You may decide to pay the two charges upfront or add them to your loan.

Other resources

For the purpose of helping customers to get through the applications without hitches, the company provides some vital resources such as:

  • Frequently Asked Questions: As usual, this section is designed to answer questions that prospective customers always ask. The page will help you answer some of your questions too. The section answers questions such as what a particular loan mean, the information you need to qualify for a loan, and what you need to consider before applying for the loan.
  • Loan calculator: You can use this tool to calculate your monthly payment before you apply for a loan. This knowledge is very important as it will help a prospective customer consider his budget if he has enough money to make his monthly repayment after settling all his bills.
  • Help: You can use the help page to ask for assistance if you find yourself stuck somewhere or you are in doubt about the company or its services.

You can contact them via their website or other communication options such as giving them a call by using their official phone number.

CreditPoor does not charge any fees. If you are contacted by anyone saying they are calling from CreditPoor requesting you make them a payment you should contact the Financial Conduct Authority (FCA) as we are aware that there is currently a scam using the CreditPoor brand. This has nothing to do with our company.