Wonga, a UK company, has launched a microloan program offering instant loans between £50-200 repayable within 30 days. The program is unique in that it provides an instant snapshot of loan terms and repayment amounts including interest. It also rewards good customers with points for more favorable terms on future loans. Wonga takes the concept of microloans out of developing countries and puts it into a local banking relationship in developed nations like the UK.