Satsuma Loans was a UK-based online lending company that provided short-term loans to consumers. The company was established in 2013 and was part of the Provident Financial Group, which is a UK-based financial services company.
Satsuma Loans offered loans of up to £1,000 to customers, which could be repaid in weekly or monthly installments over a period of up to 12 months. The loans were designed to be flexible, and the company did not charge any fees for late payments or early repayments.
However, in February 2021, Provident Financial Group announced that it was closing down Satsuma Loans as part of a strategic review of its business. The company stated that it was no longer profitable to continue operating Satsuma Loans, and that it would focus instead on its other lending brands, including Vanquis Bank and Moneybarn.
Provident Financial Group
Provident Financial Group is a UK-based financial services company that specializes in consumer credit products. The company was founded in 1880 and is headquartered in Bradford, England.
Provident Financial Group operates a number of brands, including Vanquis Bank, Moneybarn, and Provident Personal Credit. Vanquis Bank provides credit cards to people with limited credit histories, while Moneybarn provides car finance to people with poor credit ratings. Provident Personal Credit provides home credit loans to customers who may have difficulty accessing credit through other channels.
In addition to its lending businesses, Provident Financial Group also operates a credit reference agency called Central Trust. The company’s products and services are primarily targeted at people with lower incomes or who may have difficulty accessing credit through traditional channels.
Provident Financial Group has faced a number of challenges in recent years, including regulatory fines and customer compensation payments related to its lending practices. In 2021, the company announced that it was closing down its Satsuma Loans brand as part of a strategic review of its business.
Satsuma Contact (Provident Financial Group Head Office Address)
The head office of Provident Financial Group which owned the brand ‘Satsuma Loans’ is the following:
No.1 Godwin St, Bradford BD1 2SU