As a sensible(ish) person I wouldn’t touch payday lenders like Wonga with any category of pole but I do like the idea of community-driven micro-loans on the basis that the loan you get is proportional to the money you put in.

US micro-funding site Puddle works on this basis: you sign up, stick in $10 to get started and can borrow five times the amount you've added to the community pool.

Although it’s US-based it works here. There is no interest; you simply pay back what you’ve taken out within three or six months.

The only caveat is that you must build up a ‘trust network’ to increase the amount available to you. https://www.puddle.com/