Saturday, 01 August 2015 09:59

Quick Loans is for sale

We have decided to call it a day and sell our Quick Loans brand. We are taking offers for the whole company "Quick Loans Ltd" which would include this site and several other lending brands.

The reason we are selling is that we no longer see the UK as a market an attractive environment that warrants our time and effort in developing any further. We have other areas that we want to focus on and that is the way we will be heading now.

For those wondering specifically why we are selling, we are leaving due to the FCA allowing individuals who work there to make up new rules at will and then issue unlawful threats that they won't ever enforce, nor will can we appeal which would give us access to due process. 

Basically we have been threatened that they may take action at any point if they feel like it. We have urged them to take action several times, this would allow us to have access to due process and show a court or independent body why what they are saying is plain wrong. The FCA never take action, they instead just issue threats, they simply continue to reiterate "do as we say or we might just take action". 

One of those rules seems to be that we must have our contact details on the home page because our customers are just too stupid to click "contact us" and go to our contact us page. This is the nonsense we have to put up with now, there are other examples. One of the funnier ones is that we were threatened when we said "smaller short term loans were harder to obtain now due to the FCA". Until we pointed out that it was the FCA's own Chief that said it several times in the media.

Think we are lying or making this up? We have the emails, we have also found out that this is not uncommon of the FCA when dealing with others in the industry. We won't continue with these threats any longer. We won't put money into developing our sites when random people of unknown qualifications or background are issuing threats on behalf of a regulator.

For those wanting to buy the company, please use the contact us page to discuss it further.