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It would be repaid over one or two years.
Wonga typically lends sums of about £200 to £400 to consumers, repaid over a few weeks.
Take the example of a £100 loan to be repaid over 52 weeks.
The money would have to be repaid over 15 years in equal installments.
The council met yesterday to agree to the loan, which must be repaid over 15 years.
One is for $2 million, to be repaid over five years with no interest.
In 2000, the bank gave Enron $150 million to be repaid over two years.
The loan must be repaid over 3 to 10 years, he said.
At the end of 2008, roughly five times more was scheduled to be repaid over a comparable period.
He again proposed funding some of those projects with borrowed bond money that would be repaid over 15 years.
Finally, the last third comes from future income, in the form of loans that will be repaid over time.
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