Payday Power Add Mr Lender to Approved Lender List

March 30, 2011 - PRLog -- Borrowers using the payday loan broker service from Payday Power will now be able to get a same day loan from Mr Lender.

Having already helped thousands of borrowers to secure quick finance through their own website, Mr Lender has joined a list that includes many of the leading payday loan providers. As a consequence, Payday Power customers should now enjoy greater value and competition when seeking the very best rates for their payday loan.

Simon, the Managing Director of Payday Power, explained why it was so important that they continue to add to the 21 approved lenders now being used “As a broker it is vital that we offer customers variety and value. The more lenders we have providing quotes for applicants, the more competitive prices will become.

“With Mr Lender coming on board, Payday Power now has 21 payday loan providers on our books, which gives our customers greater choice,” Simon continued. “As with any new lender, we have to make sure that new lenders meet our strict requirements and that they fit in with our system. In the case of Mr Lender, they have proven that they are competitive and offer great service, which is exactly what we’re looking for.”

Explaining the brokerage side of the business further, Simon said “Essentially we use an applicant’s details to get the best quotes for their particular situation. We approach the lenders within our database, get their most competitive rate and then, if successful, return this to the consumer. They will then have to choose which quote to accept – if any. It is as simple as that. Therefore companies who offer poor value are unlikely to get much traffic through Payday Power, which is why we always look to find the best available – such as Mr Lender.”

About Payday Power:
Founded in 2008, Payday Power is a leading broker of online payday loans. Part of the Reset Finance group, they enjoy the backing of a number of major lenders to help get the best deal for customers. Payday Power offer payday loans of up to £1,200 at a typical representative APR of 1,737% - equating to around £25 per £100 borrowed or 25% of the total amount – and are committed to responsible lending.

For more information please visit http://www.paydaypower.co.uk/