Wonga Extends Its Payday Loans To Small Businesses In UK

Wonga.com, the successful but controversial payday loans provider, is extending its credit service to small businesses in the UK. The move is a smart one given the current economic climate. Banks have been lambasted for not lending to small businesses - Wonga is simply going to try and fill in the gap - and take advantage. Needless to say this could end up being a huge business for Wonga. Despite attracting the ire of financial journalists - including the Daily Telegraph, which prevented it from winning its Startup 100 awards - Wonga has made as many as 4 million short-term loans to consumers since its launch in 2007.

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