The Payday Loans sector is one of the fastest growing online services in 2012. In tough economic times and when Traditional High Street Banks are not lending to consumers, there becomes a market for alternative forms of short term lending. Payday Loans fill the gap between traditional types of lending and alternative lending.
Payday Lenders are regulated by The Office of Fair Trading and must have a Consumer Credit License as well as a responsible lending policy and absolute transparency in regard to fees and repayments. Lenders in the Payday sector should be clear about the Terms & Conditions and their Privacy Policy should clearly explain how they deal with your personal information and what steps they take to protect your privacy.
Moola a New Payday Loans service does exactly that, with clear loan examples and a cost breakdown, you know exactly what you are borrowing for how long and what it costs to the penny. New loan applications take only a few minutes and payments can be deposited into your account within 15mins if your bank supports faster payments. Moola offers customer loyalty schemes and trust ratings for borrowers who keep their promise to pay back on the agreed repayment date.
Moola is changing the way the payday loans market operates and brings a refreshing new transparent approach to short term lending. It will be nice to see other payday lenders adopting these principles.
Moola – Payday Loans