The service is still in BETA and available to previous customers of Mr Lender only but early trials are proving extremely successful.To use the service, all a customer has to do is send a text message to a short code number (only available to existing customers at present) stating how much money they wish to borrow and when the next pay date is.
For example, if someone wanted to borrow £300 and they next get paid on the 30th July, they would text '300 3007'. Once the loan has been approved the money will be instantly transferred into the customers bank account.
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