2014 Lender Lists:

Short Term Loans | Payday Loans | Instalment Loans | 12 Month Loans
Doorstep Loans | Guarantor Loans | Logbook Loans

BongaLoans has been operational at www.bongaloans.com since the year 2011. The brand owner that is based in London is BB Credit Ltd that is part of the BB Finance Group (who also trade across Europe). This text loan service initially started out simple whereby the applicant could only receive £100 over a period of 7 days. This term range was fortunately enhanced at a later stage. You can only select £100 in the 7 day section, but 14 or 30 days are now additionally available that each reach as high as £1000. New clients are restricted to £200. The pricing levels in place have recently been raised.

They did charge per £100 either £10, £14 or £20 (7/14/30) and there was £5 charge covering text registration. Their new costs are £12, £18 or £30 (7/14/30). Their registration fee is now charged for verification at the same £5 cost. This is a one-time charge, but you pay this even when declined. The total charges should now stand at £17, £23 or £35. Small SMS charges would also apply each time requests are made with them, but you can avoid paying these by requesting from your computer. The www.bongaloans.com website is vibrant in its design and comes equipped with secure logins.

Once an applicant has been approved, the cash should typically reach a bank account within a few hours time. One issue at hand here is that they do close at the weekends and so loans are only processed throughout their opening times from Monday to Friday between 8.30am and 5pm. BongaLoans has always aimed to become the market leading text loan lender. Major rivals to them in this niche has included TxtLoan (now MyJar.com) and also Quid24.com. What this lender had going for them was pricing, but due to the hike, this is no longer the case. This will change once the cap comes in force.