Wonga is a household business brand in South Africa and beyond. Wonga which is a loose slang word meaning cash or money was established by two ambitious South Africans who were on a mission to penetrate and influence the UK credit market.
This micro lender has set itself apart by offering small, short term loans on-line in a different, quick and responsible manner. Wonga is different because they have a sophisticated risk and decision technology which means the application and approval takes minutes.This firm is quick because applicants simply ask how much they want to borrow, for how many days and the interest as well as total cost is calculated in real time before proceeding. Credit is also provided in a responsible manner with consideration of the applicants affordability ability.
The Wonga loan process works in a very simple manner, once a client is very sure about how much money is needed and applies, feedback is instantly provided and if approved the loan is sent straight to the bank. On the agreed repayment date a single payment is collected through a debit order. A customer is allowed to make an initial application of R2,500 and should a customer borrow from Wonga more than once in a responsible manner, trust rating is upgraded providing room for a higher borrowing limit.
This reputable lender can be contacted on various on-line platforms.