The founder of Amigo loans, James Benamor, has taken to Twitter to defend the business from the founder of Money Saving Expert Martin Lewis, the Bournemouth Echo reported.
Lewis, of the consumer finance information website, said: “Feel slightly sick having just seen an Amigo loans ad saying ‘unlike others’ we’re affordable, at a long term 49.9 per cent APR. Things need 2 change.”
Replying, Benamor said: “Surprised to hear that Martin. Would love to meet you to chat about what we do.
“Amigo is flexible, no charges only daily interest so can be used exactly as a payday loan, but around 100th of the APR.”
Lewis however retorted: “I know what u do. 50 per cent APR on longer term loans is awful. Comparing urself with the market’s dirtiest doesn’t make u clean.”
Amigo Loans has lent to more than 100,000 people and 20,000 small businesses.