Short-term loans with a difference
June 19th, 2008
When we open our doors to the first Wonga customers in the coming weeks, we’ll not be the first company in the land to offer small, short-term loans. But we’ll certainly be doing it with a difference.
There’s been some murmerings in the press of ‘payday’ loan companies from America offering month-long loans which come with a fixed fee per £100 borrowed. Sometimes up to £30 or more.
But that’s way too rigid for Wonga. We’ll be the limbo dancer of the small loan world, thanks to our startling flexibility. Not only will you be able to choose exactly how much cash you want to borrow - literally down to the last quid - but also the exact number of the days you need it for (between five and thirty).
That way you also control the cost of the loan, which we’ll show you before you apply. Why borrow £100 for month if you only need £75 for two weeks? Prepare for short-term loans YOU control.
June 19th, 2008 at 10:40 am
[...] â?? Low Vision Solution wrote an interesting post today onHere’s a quick excerpt When we open our doors to the first Wonga customers in the coming weeks, we’ll not be the first company in
July 10th, 2008 at 2:58 pm
Well i faced the problem, means i have taken the short term loan and on that they charged big amount of interest.So i am seeking for a company who could resolve my problem.I am looking debt at lower rate…
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jasso
Credit Card Debt
July 11th, 2008 at 4:39 pm
We charge a higher rate of interest than traditional loans, but we’re not a traditional lender. Our service is unique because you can select exactly how much cash you want to borrow and how long you need it for. Both those factors can reduce the cost, so you can make adjustments until you’re happy to apply.
October 17th, 2008 at 1:17 pm
If you are looking for a lower debt rate, you will need to approach some of the high street banks and lenders for a more long term arrangement. These larger, longer loans will take some time for you to set up (a week or so) but will help you get on top of things. Your rates will certainly be lower. You have to be careful though to be disciplined and make sure that you actually pay off your debts. People tend to be irresponsible and pop in that flat screen TV and an ipod
Wonga is simply a way of funding immediate cash flow issues - it is by no means a way of getting on top of your bigger debt troubles.