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100Pounds is a direct text loan lender that was formed in late 2012 at www.100pounds.co.uk. Despite being a fresh name on the scene, this brand created by Sunny Marketing Ltd has been growing quickly across the industry. This is evident through their impressive search engine presence for all “Text Loan” related keywords. They are also making frequent updates to their Facebook page that is building up well each time I check it out. This company didn’t get off to the best start though after being ticked off by The Advertising Standards Authority. From glancing over this complaint, this was a minor issue surrounding the use of an image of a woman carrying several shopping bags.

This is a simplified service that grants fixed £100 loans that are taken over the period of 10 days. The interest is fixed at 1% daily, but the daily rate heads up to 1.5% through the addition of the required fast funding fee of £5 (the total cost is £15). This is a limited term duration, but you can select their extension option for another 10 days if required although this does carry a £20 fee. This would be an expensive thing to do at 2% daily and so it would be advised to repay the funds on the first occasion and then request more cash once you have paid them back.

Customer logins are equipped to www.100pounds.co.uk and this site uses encryption. As with many text lenders, this company unfortunately has limited trading times. This sits between 9am and 6pm from Monday to Friday. This is when any new loan requests will be processed since they update their system during these hours only. The 100Pounds loan brand has as noted been progressing quickly. The 1.5% rate is high, but this is caused by the transfer fee with the 1% daily interest itself being the average rate charged by top short term lenders. The apply by text messages cost £1 and so requesting from your computer would be advised.