Credit Excellence Awards 2019

Nominator’s Details

Name: Nitin Singhal

Job title: Lead Communications and Public Relations
Company: GAIN Credit
Full contact details: nitin.singhal@gaincredit.com (0091 9873917446)

Which Credit Excellence Award are you applying for?

Credit Excellence Award for Alternative Lender of the Year.

DRAFT SUBMISSION - 500 words

Who we are

GAIN Credit operates two products in the UK, Lending Stream and Drafty.

Established in 2003, the company has been growing steadily since inception, despite the
slowdown which hit the consumer lending sector since 2014.

Key Milestones

Innovation – Staying ahead of the curve:

• Among the first movers in the HCSTC sector to implement Open Banking to affordability checks,
thus ensuring that customers are lent responsibly and in accordance with their unique financial
situations.

• Launched the industry’s first-ever ‘virtual’ credit line with no fees - allowings people access to
short-term cash at a lower rate than payday loans/unauthorized overdraft fees.

• Created an innovative and affordable alternative to payday loans, unauthorized overdrafts and
sub-prime credit cards.

• One of the first to offer a six-month instalment product with a lower APR (compared to payday
loans) in 2008.

Ensuring Customer Delight:

Our customers are at the heart of everything we do. And that commitment is underlined by the
appreciation we’ve received from them.

With more than 12,000 reviews on Trustpilot, Lending Stream has been assigned a 5* rating and
an overall Trustscore of 9.1. While Drafty’s also received a 5* rating and a TrustScore of 9.2 based
on more than 8,000 reviews (as on July 30).
Also, rereviews.co.uk, one of the UK’s most trusted review sites, states that 98% of customers
recommend Lending Stream. It has received an overall customer rating of 4.82/5 based on more
than 21,000 independent reviews.

Impressive Business Performance:

• Growing fast with an annual turnover of $136.6 million (FY 2018-19).

• $9.26 million EBITDA for FY 2018-19.

• Double digit growth YoY against industry trends.

• Provided over 3.26 million loans and credit lines since inception (as on 30 June).

• More than 783,554 customers (as on 30 June).

• Responsible lending: We reject nearly 95% of applicants that apply via Drafty and over 95% of
those who apply via Lending Stream. This aptly demonstrates our stringent criteria in terms of
affordability checks and ensuring that customers are lent to responsibly.

Industry Accolades

• Awarded ‘Best Marketing Campaign’ for Drafty at Credit Strategy’s Credit Awards 2019.

• Recognized as ‘Best Brand’ at the inaugural edition of the Lending Awards (in 2018).

• Drafty awarded ‘Innovation of the Year’ for the second year in succession at the 2018 Consumer
Credit Awards.

• Lending Stream awarded Consumer Credit Team of the Year at the 2018 CICM British Credit
Awards.

Voice of Customers – Our Testimonials

“Lending Stream are taking an extremely advanced and dynamic approach to lending. Their team
is excellent, and our software enables them to grow and change at their own pace.”
Steve Hadaway, General Manager for FICO in Europe, the Middle East and Africa.

Fantastic loan company to get you out of everyday household worries when you need financial
help. Highly recommended!! ⭐⭐⭐⭐⭐
Mitchell – Trustpilot

Great service, quick and simple application process, easy to use website and it was great that
there was no early payback fee. Overall it was much better than money lenders I have used in the
past.
SRushworth – Trustpilot (for Drafty)
Quick and easy to use. Money transferred instantly. Repayments are easy to make as reminders
sent before due date. Highly recommended.
Joan – Trustpilot (for Drafty)