I’m looking for a quick unsecured loan. This website says they charge £25 for each £100 borrowed, so I assumed this would mean the APR is 25 % which I am ok with. On looking further at the site they say the APR is 1845 %, is that the same as interest, surely if I borrowed £100, I’m not going to have to pay back 1845 % interest!?!? please look at the site (click on ‘I dont understand your APR) and explain to me in simple terms, many thanks.
Also if anyone else can recommend a company, I’m a student, private tennant, need cash fast!