Member Article

Latvian loans firm establishes Stockton headquarters

Online lender, 4finance Ltd will open a UK headquarters in Stockton-on-Tees, creating 20 new jobs.

The Latvian firm are set to provide loans to the UK market under their ‘Vivus’ brand, and will operate a customer service call centre from the Stockton base.

Alberts Pole, CEO of 4finance Group said: “We have grown substantially in just five years. The UK is an important part of our ambitious expansion plans. We liked what the North East of England had to offer and the people of Stockton-on-Tees have made us very welcome.

“We have worked closely with all the relevant regulatory authorities in the UK to ensure we comply with the industry code of practice.”

Tom Newbould, managing director of 4finance Ltd, will be running the UK business. He said: “I’m born and bred in the North East and am delighted Vivus is coming to the UK with a workforce rooted in the North East helping make the brand grow and flourish. We have created over 20 jobs and plan to expand to over 100 within the next 18 months.

“We will evolve the extremely successful business model applied by the group in Europe. We have established principles and values and now want to apply a more innovative and fresh approach to the short term loan market in this country.”

4finance Group is an international company with 550 staff, and provides loans throughout Europe, Canada and the US.

The company said it wants to be an “exemplar of transparency” and is hoping to repair the image of the unsecured lending sector.

This was posted in Bdaily's Members' News section by Tom Keighley .