by Brian B Smith
Of all the short term lenders now available in the UK market, Wonga is the one that is being talked about the most. This is because they have created a significant online presence as well as their TV adverts being shown at prime time during the day. By going through this Wonga review you can learn more about what this company has to offer.
There are other things that they get right as well, though. Their business model is a completely new system that they have come up with and this is a strong benefit that they have which the other lenders don't.
They have a good and strong reputation as they have a track record of around 3 years. The company was started by Errol Damelin and Jonty Hurwitz who both have also been involved with various investment capital companies.
They have spent a considerable amount of time before the launch of the company in 2007 to create a very user friendly website. Unlike any others you find today when it comes to Wonga choosing how much you can borrow is through using their loan slider tool". Simply move the bar on the slider along to not only decide how much you want to borrow but also how long you wish to borrow it for.
When you're done entering the data, the Wonga website will perform a short calculation. After this, you will find out your exact repayment schedule and the amount you have to repay.
As is usual in this industry, the loan amount available for first-time borrowers is actually lower than for regular customers. This number is 200 pounds with Wonga, placing it among the more conservative lenders. They do need to see some trustworthiness before they give you access to the maximum amount, which is 1000.
Yet another feature which is different than is usual with other lenders is the fact their interest rate are calculated daily. For each 100 borrowed, your interest will be 1 for each day. So for example with a 30 day loan term, the total repayable will be 136.
This review was a Wonga review composed by our team over at Which Payday Lender. Hopefully you will have gained a better understanding of this short term lender. - 41115
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New Unique Article!
Title: Wonga Review - Read This To Understand The Benefits Of This Reputable Quick Cash Lending Company
Author: Brian B Smith
Email: m_niccoli@hotmail.com
Keywords: wonga review,short term loan reviews,personal loans reviews,loan reviews,short term loans,personal loans,online loans,instant loans,same day loans,loans,consumer credit,credit,finance,money,business
Word Count: 368
Category: Finance:Credit
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