There was a huge upset at the 2011 Credit Today awards as wonga.com, widely expected to retain the title won in 2010, lost out to self-styled independent businessman ‘Big John’ from Liverpool.
Big John was praised for his easy to understand terms and conditions for borrowers, his hands-on approach and the fact that his loans are accessible to anybody who has a pair of legs to use as collateral. The interest rates John charges are also considerably lower than those at wonga.com.
Despite not being able to accept his award in person due to ‘having some business to attend to with a fella who owes me a few quid’, a spokesman declared that he was delighted. ‘As a mentally unstable, unemployed bodybuilder with a history of steroid abuse and violent outbursts John was repeatedly told that his employment prospects were not good. However his success here today just goes to show that given the right market to work in and the right motivation, anybody can find a way to exploit people struggling to make ends meet, using just the natural skills that they have. And a 9lb lump hammer.’
Surgeons at Royal Liverpool University Hospital have also expressed admiration for how quickly Big John has honed his talents. ‘When we first came across one of John’s customers there were bits of shin bone floating about all over his leg’ said one orthopaedic surgeon ‘but now, just 1 year on, the breaks are much, much neater and easier to operate on. I can only commend him on how fast his technique has improved.’
The Bank of Dad was disappointed to be overlooked for the award once again, but accepted that a continued failure to charge any interest on loans, or to set out firm repayment plans, could lead to fears that it was not operating a stable business model with potential for future growth.