Last Updated: 04.06.2019.
|Joined Mintos:||June 2019|
|Effective APR charged to borrowers:||1314%|
|Loans Outstanding on Mintos:||€ 1 882 577|
Established in 2012, Novaloans is authorised and regulated by the Financial Conduct Authority (FCA) and offers loans in the high-cost short-term credit market.
In the UK, the high-cost short-term credit market is highly regulated. However, Novaloans maintains that it has always been committed to responsible lending before market regulators imposed rate caps. This has allowed the company to continue to grow despite a more restrictive environment.