With so many lenders for short-term, timely cash available today on the marketplace, it can be hard to pick. Wonga is one of these lenders which is among the most visible ones with a very strong marketing campaign. This Wonga review is going to treat each of the points you need to know about this company.
Being very visible isn't the only reason why they are so popular as a lender. They are also operating on a novel business model which immediately distinguishes them from the competition.
Wonga have been operating a short term loans business for over three years now. It was founded by two men called Jonty Hurwitz and Errol Damelin. This means this company has strong leadership as these men have been working with Dawn Capital and Balderton Capital in the past.
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.
Like with any other short term lender, they have a maximum loan amount, and for first time borrowers, this is lower than usual. Wonga sets the first-time amount to a quite low 200, so if you are not a regular borrower and need a larger amount, you might be better off looking at other lenders. The maximum amount for regular users is 1000.
Another thing separating them from the norms of short term lenders is that their interest calculations are daily. So for every 100 that you borrow, the interest will figure out to be around 1 per day. So with a 30-day term you will have to repay 136.
Having read this Wonga review, you will probably now have a better idea of what this loan company is about. This article is sponsored by the Which Payday Lender site.
Being very visible isn't the only reason why they are so popular as a lender. They are also operating on a novel business model which immediately distinguishes them from the competition.
Wonga have been operating a short term loans business for over three years now. It was founded by two men called Jonty Hurwitz and Errol Damelin. This means this company has strong leadership as these men have been working with Dawn Capital and Balderton Capital in the past.
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.
Like with any other short term lender, they have a maximum loan amount, and for first time borrowers, this is lower than usual. Wonga sets the first-time amount to a quite low 200, so if you are not a regular borrower and need a larger amount, you might be better off looking at other lenders. The maximum amount for regular users is 1000.
Another thing separating them from the norms of short term lenders is that their interest calculations are daily. So for every 100 that you borrow, the interest will figure out to be around 1 per day. So with a 30-day term you will have to repay 136.
Having read this Wonga review, you will probably now have a better idea of what this loan company is about. This article is sponsored by the Which Payday Lender site.
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Wished You Could Read More About Short-Term Finance? If So, Then Read Through This Wonga Review. The Wonga Review Will Give You An Insight Of This Particular Loan Provider.
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