Introduction
Sprout Loan App is an instant loan service in the UK. We offer different types of loans to help you with your financial needs.
Whether you need money for unexpected bills or want to combine your debts, Sprout can help. You can borrow between £1,500 and £7,500, even if you have a poor credit history.
One of the best things about them is that we make borrowing clear and easy. We offer fixed repayments, which means your monthly payments will stay the same throughout the loan.
There are no hidden fees, so you will know exactly how much you need to pay each month. This helps you plan your budget without worrying about surprises.
Our interest rates are competitive, which means they are fair compared to other lenders.
As a direct lender, we work directly with you. This makes the application process faster and simpler. You won’t have to deal with middlemen, which can slow things down.
If you are in an Individual Voluntary Arrangement (IVA), they can help you settle it early with an unsecured loan.
If you’re ready to move on from this stage in your life, we can show you how this option might work for you. Getting an unsecured loan can help you regain control of your finances and improve your future.
To give you an idea of how borrowing works with them, here is an example: if you borrow £2,000 over 24 months at a representative APR of 39.9%, your interest rate will also be 39.9% per year.
This means your monthly payment will be £116.06, and you will repay a total of £2,785.50. If you need to borrow more than £7,500, please contact us, and we can discuss your options.
In summary, it is here to provide simple and flexible loans for everyone. Our easy application process, fixed repayments, and no hidden fees make borrowing stress-free.
We want to help you take charge of your finances. Explore your options with them today and find out how we can assist you in reaching your financial goals.
History and overview
Sprout Loan is a new loan company that started in 2024 in the UK. It operates under the names Sprout and Sprout Loans and is part of Asgard Financial Services Limited.
The company is registered in Northern Ireland, with its office located at the Lanyon Building in Belfast.
They aims to provide easy and flexible loan options for customers. It offers loans even to people with poor credit histories, helping those who may have trouble getting money from other lenders.
This focus on accessibility is an important part of the company’s mission.
Asgard Financial Services is a legitimate business, registered with Company No. NI624908. It is authorized and regulated by the Financial Conduct Authority (FCA), which ensures that it follows important rules to protect customers. The FCA Firm Reference Number is 680043. This means Sprout Loan operates responsibly and treats its customers fairly.
The company is also registered with the Information Commissioner’s Office, which protects customer data and privacy. Additionally, it is a member of the Consumer Credit Trade Association, showing its commitment to good business practices and customer care.
The CEO of Sprout Loan is Michael Strauss, who leads the company with a goal to make borrowing simple and clear for everyone. Since its launch, Sprout Loan has focused on helping people manage their financial needs easily. The company aims to build trust with its customers by being open about its services.
As it continues to grow, it hopes to be a reliable name in the UK loan market, helping more people find the financial support they need.
Requirements
Country of residence
To use Sprout Loan, you must be over 18 years old and a resident of the UK. This requirement ensures that all borrowers are legally adults who can enter into financial agreements. Being a UK resident means you have a permanent address in the country, which helps the lender assess your application and understand your financial background. This helps ensure responsible lending and protects both you and the company.
No pending debt
To qualify for a loan with Sprout Loan, you should have no County Court Judgments (CCJs), defaults, or debt management plans in the past 12 months. This requirement is important because it indicates that you have managed your debts responsibly.
Having a clean credit history shows that you are less likely to have financial issues, which helps Sprout assess your ability to repay the loan. By ensuring that applicants meet this criterion, Sprout aims to lend to individuals who are in a stable financial position, reducing the risk of non-repayment
Bank account
To apply for a loan with Sprout Loan, you must have a bank or building society account. This requirement is essential because it allows the lender to deposit your loan funds directly into your account.
Having a bank account also helps Sprout verify your identity and track your financial history. This information is important for assessing your ability to repay the loan. It ensures a smooth transaction process and makes it easier for you to manage your loan repayments.
Regular income
To qualify for a loan with Sprout Loan, you need to receive a regular income. This requirement is crucial because it demonstrates your ability to make consistent loan repayments.
Having a steady income shows that you can manage your finances and meet your payment obligations. This can come from various sources, such as a salary from a job, self-employment income, or benefits.