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Pogo Loans @ www.pogoloans.co.uk
Pogo Loans is under control from Fire Capital Ltd who are based in Liverpool. This brand is still a fresh face on the scene having launched at www.pogoloans.co.uk back in June 2015. This lender operates in the UK and they are also licensed in the Isle of Man (similar to Pixie Loans). On initial arrival they did offer a payday term, but have since updated to stick with the instalment options of 2 and 3 months. New and returning customers all have access to the same funding levels of £200 to £600. The pricing is competitively pitched here. If you were to opt with £300 over their 3 month term then the charge due is £115.59.
This low price ranks them within the top of all UK lenders. Back when a payday term could be opted for they charged £37.20 per £200 that translates as £18.60 per £100. It is a shame that they dumped this repayment that I’m sure would have been a popular choice. There was also a promo code released early on, but the box for this has now been removed from their form. Applications are processed by this lender between Monday and Friday from 9am to 5pm. A Pogo Loans login is there for all who give them a try. Whilst not being overly strict with lending decisions, they have made an update to require full time employment.
At launch they were willing to consider the self-employed. As before they have an age limit of 65. Pogo’s growth in the sector has come along well, but there was a few impressive companies that launched in the same year of 2015. We saw the flexible services from H&T Finance and Square Today. Then there was also MyKredit who stand out for their 24/7 payouts for existing customers. There is unfortunately no weekend funding here. Their choice to distance themselves from the payday space was surprising… they could have perhaps extended to 6 or 12 months. There is at least good value on that 3 month term (they are cheaper than such major firms as QuickQuid and Wonga).
£115.59 /£300 (3)
Data Taken from www.pogoloans.co.uk: January 2017.