You could have read the small print?
Quote:
You will be charged £9 per week per £100 borrowed. You can only borrow in minimum periods of 2 weeks after which the entire sum including borrowing charges becomes due. If you fail to pay after 2 weeks a new loan may be re-issued for a further 2 weeks at the same cost, £9 per £100 per week. So have you got how much it costs ;-) £9 per £100 per week.
Example:
So, if you borrow £100 you should pay £118 in 2 weeks time. If this is not paid after 2 weeks your loan will be re-issued at a slightly cheaper rate and £136 will be due in 4 weeks.
The costs of a micro loan from Toothfairy are as follows:
Loan value
14 Day Fee
Total payable
£100 £18 £118
£200 £36 £236
£300 £54 £354
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As it does not give a indication for 28 days?
http://www.toothfairyfinance.com/APR.php