Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
That's why investment is hard. The market of people to lend to post the situation with Amigo (and before than many other sub prime lenders) is people with very bad credit for whom a new lend of money will not materially worsen their circumstances.
Always will be market but the regulations limit profit margins and so increase the risk for companies thinking of getting involved in funding. New companies will probably come along with variations on the old model I am sure
More appealing if we forget regulations, direction of travel on sub prime, and Amigos recent history. What has happened (to an extent) with the sub prime market is a sort of catch 22. If you can only borrow sub prime it's likely that a sub prime loan will make your situation worse therefore it's difficult for a subprime company to loan to you (given the levels of due diligence) the market is those that have bad credit BUT will soon be in a position to have enough surplus cash to pay Amigo comfortably. It's kinda absurd!
Base rates, regulatory issues, an incoming Labour gov are some issues. Of course there is a market for sub prime loans but as Amigo found out loaning in the way they did to as wide a market isn't possible anymore.
https://www.financial-ombudsman.org.uk/data-insight/half-yearly-complaints-data can find data there.
Very, very few cases against Amigo where not upheld especially post 2019