Investors Central, a newish unlisted public company centred on the sub-prime business of lender Finance One, saw its net profit jump 78 per cent to A$1.27 million over the year. The loan book increased by 57 per cent to A$20.5 million, a sign of one niche lender doing well in a banking sector crying out for competition.Finance One put its bad debt levels in two ways: between three per cent and seven per cent of revenue, while bad debts written off for 2014 were stated as $211,000.The average number of new loan applications  FinOne received each month reached 357, an increase of 37 per cent on the monthly average in 2013."The network's core business has been predominantly in Queensland and we are increasing our presence in the other states," directors wrote in their 2014 annual report."The first half of the year was focused on personally meeting new referrers and promoting the advantages of utilising our range of loan products."Twenty-five million dollars is the fund raising goal under a new offer document for Investors Central.Under the heading of infrastructure, directors said "the expansion of our loan processing team including verification, approval (credit analysts) and collections has been completed. "Finance One now has the infrastructure to meet the demands of growing the business." The report provides a short history of the firm."Investors Central Ltd transitioned from a proprietary limited company to an unlisted public company in December 2013."From May 2013 Investors Central acquired 100 per cent control of Fin One Pty Ltd (Finance One). "Prior to the consolidation of Investors Central and Fin One Pty Ltd, Investors Central Ltd's function was purely for the capital raising arm of the two separate companies and as such relied upon Finance One (the automotive lending business) to generate profits for the payment of interest to investors of Investors Central Ltd." Investors Central Ltd "will still be used as the capital raising arm of the business with the subsidiary Finance One being the core of the business to generate revenue for the group," the report said.