Menu

Payday lender Oakam Loans looking to open store on Friargate

Posted on - 18th December, 2013 - 7:00am | Author - | Posted in - Business, Friargate, News, Preston City Centre
The top end of Friargate could see Oakam Loans take up residence

The top end of Friargate could see Oakam Loans take up residence

A new payday loan lender will be opening on one of Preston’s main streets.

Advertisement

The former Foot Locker store on Friargate, just up from Cafe Nero and by McDonalds, could become a branch of Oakam Loans.

The Croydon-based firm provides money on short term deals to people with interest rates reaching 676.6% APR.

Until now Oakam has only operated in London and the Midlands, but is now branching out into the North West.

Oakam propose to operate the store from 9am to 7pm Monday to Saturday and 10am to 5pm on Sundays and Bank Holidays.

The video below explains how Oakam operates

Tim Spencer Associates, acting on behalf of Oakam, have applied to Preston City Council to convert the former shoe store into an A2 use allowing financial and professional services.

A spokeswoman for Oakam said: “We are currently reviewing a number of potential store locations and sites across the country in line with plans to expand our successful London- and Midland based brand nationally.

“However, at this point in the process I am not able to comment on specific towns or cities yet.”

Anyone wishing to comment on the application can do so via the council website or email [email protected] quoting application number 06/2013/0820 by Friday 27 December.

You can view the full plans on the council website.

What do you think? Does Preston need another moneylender on its streets? Let us know in the comments below

Share
Preston in pictures Ivy Bridge at Avenham/Miller Park PrestonCanal side at Tulketh, PrestonBoat on the canal at Preston271/366 - Sir Tom Finney statue45600Lancashire Encounter Procession of Light - 20Lancashire Encounter Procession of Light - 21Lancashire Encounter Procession of Light - 16 View more Advertisement Subscribe to the newsletter

Sign up below to receive Blog Preston's weekly newsletter. It wings its way into inboxes every Sunday rounding up our best content from the last week and a look ahead to what's happening.

Advertisement News by location

Find news by location, select an area of your choice to be kept up to date with the latest goings on.

Advertisement Categories

Find news by category, select an category of your choice to be kept up to date with the latest goings on.