Provident Loans Alternative
Looking for Provident Loans? Provident Personal Credit are no longer lending, but Lending Stream are. We are a short term loan direct lender, offering instant decisions. If approved, we’ll send the cash to your bank within 90 seconds.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Why choose Lending Stream as a Provident Loans Alternative?
Fast
Cash sent to your bank in under 90 seconds, once approved.
Convenient
24/7 simple & online application. Instant decision. Direct lender since 2008.
Affordable
Repay in 6 monthly repayments. Pay early with no extra fees and save on interest.
Warning: Late repayment can cause you serious money
problems. For help go to moneyhelper.org.uk.
About Provident Loans
Provident Personal Credit, also known as PPC or Provident Loans, was a short term lender that offered cash loans online and doorstep loans between £100 and £1000. Their repayment terms used to vary between 13, 26 and 52 weeks, depending on the loan amount.
On the 31st of Dec 2021, the company announced that it was shutting down its lending business due to an increase in customer complaints and a decline in demand for their loans. All of their collections have since stopped and any outstanding balances have been cleared.
If you need loans which are better than Provident you can consider Lending Stream for short term loans.
Are Provident still giving out loans?
No, Provident Personal Credit, which also traded as Provident, Satsuma, and Glo went into administration in December 2021.
Having gone into administration, the companies were no longer able to trade, and their assets were sold off to repay the creditors.
What happened with Provident Loans?
Provident Personal Credit closed their lending business after 141 years on the 31st of December 2021. The reason they stopped their lending business was due to “increasing affordability complaints, changing industry and regulatory dynamics”.
If you used to borrow from Provident, then Lending Stream might help you with quick loans or instalment loans.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How is Lending Stream different from (or better than) Provident Loans?
Lending Stream offers short term loans, which is what Provident used to offer but there are some key differences which make us better.
| Lending Stream | Provident Loans |
|---|---|
| Lending Stream offer loans of up to £1500 | Provident Loans offered loans of up to £1000 |
| Lending Stream is completely online, which means you can apply for our loans online and get an almost instant decision. If approved, we’ll send the cash to your bank within 90 seconds | Provident used to offer doorstep loans. This means that instead of online applications a representative of Provident used to visit the applicants home for verification |
| We give 6 months to our customers to repay their loan in monthly instalments | The repayment terms offered by Provident Loans used to depend on the loan amount and based on that 13, 26 or 52 week time period was given to the customers |
| We are still lending and are one of the most reputed direct lenders in the UK | Provident Loans stopped their lending on 31st December 2021 |
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How to check my eligibility for a Lending Stream loan?
If you want to check your eligibility to apply for a short term loan with Lending Stream, then you must:
- Have an active bank account
- Have a valid debit card
- Be at least 18 years old
- Be a UK resident
- Should be in regular employment with a monthly income of at least £400
Rather than just relying on your credit score, we’ll look at all your information. A bad credit score won’t give us a complete view of what your current financial situation is.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How to apply with Lending Stream?
If you have checked the above points and think that you are eligible for a loan with us, then you should apply online on our website. All you need to do is fill out our online loan application form and provide us with the following information:
- Fill all your personal details
- Choose the amount which you want to borrow with us
- Provide us with your employment, salary, expenses, and banking details
Once your application is received, we will do an affordability and credit check to see if you can afford the repayments. If approved, we will send the amount to your bank within 90 seconds.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Contact us - Lending Stream
If you already have an account with us, you can log in and chat with us through there. Otherwise, you can get in touch on our contact us page.
If you prefer you can give us a call on 0203 808 4440#. We’re open from 9am to 6pm Monday to Fridays, and 9am to 1pm Saturdays.
FAQs - Provident Loans
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Is Satsuma Loans part of Provident Loans?
Yes, Satsuma Loans was another product which was owned by the Provident Financial Group. Satsuma Loans was a short term loan lender, but they too stopped lending on 31st December 2021.
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Has Provident loans gone bust?
Yes. Provident Loans have gone bust and stopped lending on the 31st of December 2021.
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Can I claim back from Provident Loans?
You would have had until the 28th of February 2022 to claim back from Provident. But you can no longer do this.
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Was Provident a payday loan lender?
Provident used to provide short term cash loans and doorstep loans. They used to refer themselves as an alternative to payday loans.
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Can I still apply for a Provident Loan?
No. Provident Personal Credit is no longer offering new loans, so it is not possible for you to apply for a Provident Loan now.
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Can I consider Lending Stream as loans like Provident?
You can consider Lending Stream as loans a bit like Provident although we are better than them as they have stopped lending, but we are still there in the market helping our customers.
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Can I still get doorstep loans like Provident?
While Provident Loans are no longer offering doorstep loans, there may be other lenders in the UK who can provide similar loans. However, at Lending Stream, you can apply for a loan online and get a decision in seconds by sitting at the comfort of your home.
We don't offer loans under 60 days. We offer 6 or 12 month loans. The maximum repayment period is 12 months. Maximum APR 1721%.
Representative Example: Given a Representative APR of 1333%, if you borrow £200 over 6 months at 292.0% p.a. (fixed), you would owe 6 equal repayments of £64.44. You will repay £386.61 in total.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk