Wonga digital finance
Following failed efforts by the government at getting UK banks to be more willing to loan money to small businesses, Wonga is coming to the rescue by lending eligible businesses up to £10,000 through its online lending system. Not new to this game, Wonga has been shelling out small loans of less than £1,000 to individual borrowers since 2007. The short-term loans are paid back within 30 days and 92% of the borrowers are very pleased with the way the digital finance company operates. The loan information, which includes data on public record, is digitally processed and if approved, the deal is finalized within minutes.

 



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