Following the success of the ‘’Employer backed Loan’’ product which was launched in December 2014, SubMe Limited – a responsible credit facility provider, has announced the launch of its brand new product – “Self-Employed Loans (SEL)”.
SubMe is a Limited Company and part of the dynamic OBK Group, established in 2009, comprises of four well established, complimentary and specialist companies, SubMe Limited, OBK Tax LLP, Sprite Technical Services UK LLP and Boss Projects LLP.
As the name suggests, SubMe’s new product is available exclusively to the self-employed market and has been designed to provide easy access to short-term credit for self-employed individuals.
Greg Kitchen, Chief Executive of the Surrey based Lender said: “A lot of self-employed people may find themselves in a situation where they need help with their finances to deal with unexpected expenses, but find they are ignored by traditional lenders.”
“The more we looked at their predicament and understood the needs and pressures faced by cash and credit constrained self-employed people, the more we realised the need for a flexible solution and hence came up with a product tailored for this market.”
“As a responsible, compliant and ethical lender (authorised and regulated by the Financial Conduct Authority), we provide credit in accordance with strict underwriting criteria and based upon the Individual’s current year to date earnings and affordability. As a result, we invested in product research, technical infrastructure and dedicated Underwriting, Operations, Debt recovery, Sales and customer service departments to ensure the successful launch and ongoing delivery of SEL.”
SubMe are launching “self-employed loans” with specialist sub-contractors and fellow OBK Group members - Boss Projects LLP and Sprite Technical Services UK LLP.
‘’We work with a lot of self-employed individuals within the construction Industry and working with an entity such as SubMe will allow us to enhance our offering to contractors and clients. In case of an emergency or an unexpected bill, operatives can avoid falling into the trap of pay day loans.”
“I’m certain our operatives will appreciate this new facility that they will have access to” said Lorraine Crinson, Managing Director of Sprite Technical Services UK LLP.
On being asked [about future plans], Greg added: “We feel that the new (SEL) credit facility we are launching on the 1st of July will become a national success within the self – employed CIS market. I worked in the construction trade for over 20 years so know how hard it was to get credit being self-employed. We always found it very difficult to get credit, solely because of the risk of not being in work, or having 3 years of consistent accounts, that were favourable to main stream lenders.”
‘’With utilising our group accountancy services we are now able to offer tradesmen an all year round credit facility that they can call on whenever needed.”
SubMe Limited is authorised and regulated by the Financial Conduct Authority (FCA Licence No. 654597). To find out more about SubMe, visit www.sub-me.com.