MEM Consumer Finance Ltd help you to “Hunt For It”

MEM Consumer Finance Ltd have joined forces with innovative "Search and Auction" Site, to provide a brand new service to online consumers.

Payday UK, sister company of My Payday Loan who appear often in these pages, has created a new "ability to spend" system for users of the new Hunt For It site. This system allows people bidding on the exciting auction items available through "Hunt For It" to apply directly for a short term cash advance (repayable on their next payday) without leaving the bid site – invaluable if you need that extra £100 to secure the item of your dreams.

Nick Auchincloss, Head of Corporate Development for MEM says, "Both MEM with our payday loan products and "Hunt For It" with their revolutionary search and bid system are growing businesses with a great technological set up. By working together, we can open avenues to the consumer that previously would have been non-existent. Making a time restricted offer on the internet is one thing many people are unable to do. Using a payday loan to secure the necessary funds allows you to grasp opportunities while they’re hot, rather than rueing them when they’ve gone.

"The technology behind our payday loan approval system means that customers are normally approved and have their funds deposited on the same day of application. This gives them peace of mind that they can make that additional purchase without it impacting their existing financial arrangements. With the short duration of the loan meaning it gets paid back in full on their next pay day, they’re not still paying for their item three years later like a credit card!"

"Hunt For It" is the brainchild of young entrepreneur, Martin Hunt, 16. "The idea Behind "Hunt For It" was to provide a one stop website where people could search for goods and services and also take advantage of an online auction system. "Hunt For It" has developed a cross digital platform, which allows users to receive outbid alerts to their mobile phone and text a bid back instantly, this means users can get on with everyday life, stopping them being chained to their PC’s to ensure they have the winning the bid.

When we first met with the team at MEM, whose brands include both PaydayUK and My Payday Loan, we were excited about the synergies of two consumer focused companies in relatively new industries. By offering easy access to their payday loan application form through our site, we are providing a new service to customers which is yet another point of differentiation between us and other "search and bid" sites."

Although young, Martin comes from a successful business family background, dad, Rikki works along side him. Rikki Hunt was previously CEO of Burmah Petroleum and Fuelforce Ltd respectively. He is also a keen adventurer planning to scale the dizzy heights of Mount Everest in 2007.

The two companies are confident that this "exclusive" service will fulfil the needs of both, and look forward to developing this new relationship to their benefit, and, most importantly, that of the consumer.

Notes to editors:

My Payday Loans offers loans between £80 and £1000 (subject to status) repayable on the customer’s next payday. Payday loans are helpful to people to bridge unexpected financial shortfalls or provide additional funds from time to time as the need arises.

Applying for a payday loan could not be easier – anyone finding themselves caught unexpectedly short before payday just needs to go online to My Payday Loans and fill out the bespoke application form which is then automatically processed. The customer is immediately given an indication of whether or not they qualify for a loan and provisionally and for how much they would be approved. They are can then send the necessary documentation across quickly and, if approved, have their funds deposited the same day.

Existing customers have it even easier – in most cases they can complete loan renewals online, always helpful in the event they need that little extra cash.

My Payday Loan is a trading name of MEM Consumer Finance Ltd, a wholly owned subsidiary of MEM Capital plc.

Hunt For It is the next generation of online auction sites and has improved the user experience for both buyer and seller. Hunt For It offers improved business terms to all sellers including free listings and reduced commission charges whilst buyers enjoy the convenience of bidding remotely via SMS ensuring that no bids are missed. Hunt For It was established in 2005 by father and son team Rikki and Martin Hunt.

For more information contact:

Kirsty Auchincloss, COO, MEM Consumer Finance Ltd
Tel: 0871 550 0072. Email: kirsty.auchincloss@memcapital.com