Money lending firm has 100,000 clients

The number of families turning to moneylenders for instant cash loans is soaring, with the biggest firm Provident now lending to 100,000 customers.

With more than 40 licensed moneylenders operating across the country, and countless illegal agents, the numbers forced to borrow at exorbitant rates could be closer to 200,000.

Provident Personal Credit, which makes unsecured loans of up to €500, is the largest moneylender in Ireland and Britain. An Irish Examiner investigation in 2009 revealed Provident had 75,000 customers here. This rose to 88,000 in 2010 and the firm now lends to 100,000 people.