CashLady is UK-based

financial service Financial services are service (economics), economic services tied to finance provided by financial institutions. Financial services encompass a broad range of tertiary sector of the economy, service sector activities, especially as concerns finan ...

s company and a short-term loan

broker A broker is a person or entity that arranges transactions between a buyer and a seller. This may be done for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither ...

. The company works with various

payday loan A payday loan (also called a payday advance, salary loan, payroll loan, small dollar loan, short term, or cash advance loan) is a short-term unsecured loan, often characterized by high interest rates. These loans are typically designed to cover ...

providers, matching applicants with lenders. CashLady acts as an intermediary in this capacity.

History

Founded in 2008, by Money Gap Limited in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

under the brand name CashLady. CashLady was acquired by ''Digitonomy Limited'' around 2020 and continued to operate under the new owner as CashLady. The original founding company, Money Gap Limited went into insolvency on the 8 September 2020 and was dissolved on 9 March 2022.

Regulatory action

In 2013 Cash Lady was heavily criticised over an advertising campaign featuring

Kerry Katona Kerry Katona (born 6 September 1980) is an English television personality and former singer. She was an original member of the pop girl group Atomic Kitten between 1998 and 2001, leaving before the group's success. Katona has appeared on va ...

. Following complaints to the

Advertising Standards Authority (United Kingdom) The Advertising Standards Authority (ASA) is the self-regulatory organisation of the advertising industry in the United Kingdom. The ASA is a non-statutory organisation and so cannot interpret or enforce legislation. However, its code of adve ...

, CashLady advertisements were re-edited to remove the phrase 'Fast Cash for Fast Lives'. The ASA believed that this phrase implied that a payday loan would ‘help fund a high-flying celebrity lifestyle’. In July 2013, (one month later) Kerry Katona declared bankruptcy for the second time and was subsequently dropped by Cash Lady after the ASA ruled that Cash Lady could no longer use Katona in adverts due to heavy associations with personal debt. In 2014 Money Gap Group Limited was one of the companies helping the

Competition and Markets Authority The Competition and Markets Authority (CMA) is the principal competition regulator in the United Kingdom. It is a non-ministerial government department in the United Kingdom, responsible for promoting competitive markets and tackling unfair beh ...

in the payday lending market investigation.

References

{{Reflist Privately held companies based in London British companies established in 2008 2008 establishments in England Payday loan companies Online financial services companies of the United Kingdom