Satsuma Loans Alternative
Are you looking for a Satsuma Loan? They're no longer lending...but we are! And you might find that we suit you better. Apply for our short-term loans online and 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.
Excellent
4.79 based on 27,209 reviews
Why choose Lending Stream as your Satsuma 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 Satsuma Loans
Satsuma Loans was a British financial services company that provided short-term, guarantor and doorstep loans, to individuals who may have struggled to access standard credit. In 2021, Satsuma Loans (a trading name of Provident Personal Credit Limited), announced they were withdrawing from the market and no longer offering loans to new or existing customers.
They may no longer be lending, but we are. At Lending Stream, we offer short-term loans up to £1,500 that are both fair and transparent.
Have Satsuma Loans gone bust?
Yes, in 2021, Satsuma Loans went into administration. This decision was driven by a high number of customer complaints over the mis-selling of short-term, high-cost loans.
Satsuma Loans was one of a series of high-profile payday lenders to have collapsed for its lending practices.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
Who owns Satsuma Loans?
Satsuma Loans were owned by Provident Personal Credit and part of the Provident Financial Group which had been operating for over 100 years. In December 2021, they ceased trading.
Is Satsuma Loans a direct lender?
Yes, Satsuma Loans was a direct lender. Borrowers could apply for loans directly through their website and if approved, they would receive the funds directly from Satsuma Loans.
How is Lending Stream different from (or better than) Satsuma loans?
| Lending Stream | Satsuma Loans |
|---|---|
| Apply online for an instant decision. And if you’re approved, we’ll send the cash to your bank in under 90 seconds. | If you were approved by Satsuma, they would have sent the cash to your bank within an hour, as long as it was between 6am and 11pm. If it was outside of those hours, you had to wait for the next day. |
| We continue to be transparent in our lending processes, providing borrowers with flexible options, no hidden fees and clear terms and conditions for loans. | They faced regulatory challenges and customer complaints related to irresponsible lending and inadequate affordability assessments. |
| We're still here, offering new loans and operating within the short-term lending industry. | They went into administration in 2021 and stopped trading. |
I need a loan from Lending Stream. How do I check my eligibility?
When you apply for a short term loan with Lending Stream, you must meet the following eligibility criteria:
- Be a UK resident
- Be at least 18 years old
- Have a valid debit card
- Have an active UK bank account
- Be in regular employment with a monthly income of at least £400
During our online application process, we might ask you for proof of your income. As a responsible lender, it's important for us to see if you can make repayments on time.
Warning: Late repayment can cause you serious money problems. For help go to moneyhelper.org.uk.
How can I apply for a loan with Lending Stream?
If it's your first loan with Lending Stream, you can apply for up to £800. Existing customers can apply for up to £1,500.
To apply, complete the online application form and give us the following details:
- A few personal details
- The amount you want to borrow
- Your employment, salary, expenses, and banking details
We will run credit and affordability checks as part of the loan application process. If you're approved, we'll send the terms and agreement for you to review and sign. This will include the total loan amounts, repayment terms, the representative APR etc.
Once you've signed, we'll send the approved amount to your bank within 90 seconds.
Worried about having a bad credit score? Don't be! At Lending Stream, we consider loans for bad credit too. We understand that each person has a different financial situation, and this is why we treat every customer with the care and individuality that they deserve.
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 - Satsuma loans
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How to find a good Satsuma Loan alternative?
To find a good alternative to Satsuma Loans, assess your financial situation, borrowing needs and research online for lenders offering short-term loans. Check your eligibility, compare terms, rates, and customer reviews, and take your time to make an informed decision.
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Can I get a loan like Satsuma Loans?
Yes, you may be able to find an alternative to Satsuma Loans. There are many options available, for example, Lending Stream. Remember to find a lender that's suitable for you.
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