Last Updated: 31.05.2018.
|Effective APR charged to borrowers:||12%-30%|
|Loans Outstanding on Mintos:||€ 173 199|
1pm plc is based in the United Kingdom and was founded in 2000. The company is an FCA accredited, non-bank finance provider to the British small business sector. The company listed on the AIM market of the London Stock Exchange in 2006. 1pm offers the full range of finance products required by small to medium enterprises (SMEs), including asset and vehicle financing, loans and invoice financing.
1pm operates as a hybrid model which includes funding on its own balance sheet to generate interest income and brokering to other lenders to generate commission income. 1pm’s own balance sheet lending is all to small businesses; any consumer business originated is brokered-on to other lenders. 1pm currently operates from eight sites across the UK and employs 170 people. The company has over 16 000 SMEs as customers.
|Risk category||Interest rate||Est. annual bad debt rate|
|Very low risk (71-100)||0.09%|
|Low risk (51-70)||0.30%|
|Moderate risk (30-50)||0.46%|
|High risk (21-29)||2.32%|
|Very high risk (1-20)||8.37%|