Amigo Loans: Mid-Year Update - June 2016
23rd June 2016
Amigo Loans, the UK’s largest guarantor lender, has secured full authorisation from the Financial Conduct Authority (FCA) following a rigorous assessment process.
Confirmation of authorisation from the FCA means Amigo Loans is now the only dedicated guarantor lender in the UK alternative loan market to have completed the full authorisation process.
Glen Crawford, CEO of Amigo Loans, commented; "The FCA sets the bar very high in terms of the standards required to secure full authorisation. We are proud of our business, our people and our unique focus on providing our customers with the simple, transparent and speedy money solutions they want. We are delighted that the FCA has granted Amigo its seal of approval. As the market leader, we will continue to set the industry standard and aim to consistently exceed the FCA’s expectations in all areas of our business."
News of Amigo’s authorisation comes as the business announces it has lent a total of one billion pounds to hundreds of thousands of responsible customers turned away by mainstream lenders.
Crawford added; "2016 has been a busy year for Amigo. In addition to securing authorisation from our regulator, we have successfully refinanced the business with the full support of our parent, Richmond Group, and our banking partners, providing significant working capital for our ambitious growth targets. We are now lending at a rate of £30 million per month and our customers can be reassured that we will continue to be there when they need us. Our goal is to offer even more new ways of helping customers solve their financial problems, enabling them to build or rebuild their credit files."