The article mentions ezbob, another player in that space. I was surprised that, although the home page shows an example loan repayment amount, it does <i>not</i> include the interest rate, display of which, I understand, is required by the law[0].<p>The Office of Fair Trading (OFT) states[1]:
"In particular, the regulations provide that - if an advertisement includes an interest rate or any amount relating to the cost of the credit - this triggers a 'representative example' including a 'representative APR'. This must be representative of agreements expected to be entered into as a result of the advertisement, and at least 51 per cent of borrowers must be expected to get the advertised APR or better. The representative APR is also triggered by a non-status or comparative indication or incentive."<p>At first, I thought that perhaps ezbob isn't offering 'consumer' loans, but business loans, but the footer on their web site[2] clearly states their consumer credit licence number (647816).<p>For reference, their example[3] works out to an APR of about 43% (3% per month, compounding: 1.03^12-1 = 0.425...).<p>[0] Consumer Credit (Advertisements) Regulations 2010 (<a href="http://www.legislation.gov.uk/all?title=Consumer%20Credit%20%28Advertisements%29%20Regulations%202010" rel="nofollow">http://www.legislation.gov.uk/all?title=Consumer%20Credit%20...</a>)<p>[1] <a href="http://oft.gov.uk/about-the-oft/legal-powers/legal/cca/guidance" rel="nofollow">http://oft.gov.uk/about-the-oft/legal-powers/legal/cca/guida...</a><p>[2] <a href="http://www.ezbob.com/" rel="nofollow">http://www.ezbob.com/</a><p>[3] <a href="http://www.ezbob.com/our-loans/repayment-examples/" rel="nofollow">http://www.ezbob.com/our-loans/repayment-examples/</a>