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Bonga Loans (BongaLoans) arrived in 2011 and is a brand from BB Marketing Ltd. This London-based text loan lender operates via www.bongaloans.com that has already seen some upgrades in its early days. When they launched, you could at the time receive set loans of £100 with a set term of 7 days. This has changed now with a £100 loan still being available for 7 days. The change comes from them moving up in increments of £100 that goes up to a maximum of £1000. 14 day or 30 day terms are available for these higher figures. For the £100, the interest would stand for 7 days at £10, for 14 days at £14 or for 30 days at £20. It is unusual to see more competitive pricing as the terms increase.

What goes against this lender is that there is a £5 admin fee listed in the FAQ that charges on registration (this looks to be reduced from the funds sent). This isn’t a transfer fee cost though and so as a returning customer you will just have to pay the interest costs. The www.bongaloans.com domain has a catchy design and includes account login integration and SSL security. The Bonga contacts are support@bongaloans.com for email and 0871 986 0220 to contact by phone, but do be aware that they operate throughout Monday to Friday. The ability to control the loan via text provides quick operations, although it does appear that all loans will have to be validated. This would work much better if they were open over the weekend.