SmallBizPod, a podcast, blog, news and community site for small businesses, start-ups and entrepreneurs, has written a piece about Wonga and our sophisticated decision-making system. Read the blog, or here’s a brief extract:

Wonga is clear they are responsible, transparent lenders and for each loan taken out with them, they give a £1 interest free loan to Kiva, the micro-finance initiative which helps grass roots entrepreneurs in developing nations.

They are not offering a service to desperate individuals. They are lending to people who judge paying for the convenience of cash now, rather than later, is worth the price.

As Errol says:

It’s not dissimilar to catching a black cab. Of course the tube or bus will be cheaper, but every-now-and-then a taxi’s more convenient, if considerably more expensive.

Not a bad metaphor.

This entry was posted on Friday, February 13th, 2009 at 11:44 am and is filed under Wonga.