Know a three-year-old who’s stuck for cash? Perhaps they need a loan to tide them over before their pocket money comes through.

If so, they’re in luck because this week sees the launch of pocketmoneyloans.com, a new online payday loan shop for kids.

It offers an advance on pocket money at “eye-watering interest rates” of 5,000 per cent APR but kids over the age of three can get money only three minutes after approval and the website says getting a pocket money advance from Pocket Money Loans is “easy peasey”.

It goes on to ask “Why wait? We offer quick, cheap loans to kids aged 3+ at competitive rates.

“Whatever you need it for, Pocket Money Loans allows you to live beyond your means.

“From computer games to ice lollies, dolls houses to iPads, Pokemon cards to football.”

It goes on to add, helpfully: “But some adults don’t want you to have everything you want. They want to stop you having fun and make you ‘save up’ and be ‘responsible’. Well, we say bum to that. Tomorrow can get lost.

“We help you buy the things you can’t afford.

“If you’re unable to make your payment on time, don’t worry.

“Each missed repayment only adds a late charge to your bill plus compound interest on the total amount (I know, boring, right?).

“As an added bonus, three consecutive missed repayments means you also qualify for a free toy.”

It also promises to loan kids “just a little bit more than you can afford to repay”.

Are you outraged by now?

Don’t be. The person behind this is not a loan shark, targeting our toddlers. It’s top artist Darren Cullen and this is a brilliant, thought-provoking spoof which is the core of his latest art exhibition in London.

His artwork mimics the way many payday loan companies use brightly coloured graphics and writing which appeal to children. And he’s making the point that we’re sending out signals to young people that it’s OK to take on masses of debt from an early age. Latest figures show the average student takes out a student loan aged just 18.

And by the time most of them graduate, aged 21, they will be saddled with £40,000-£50,000 of debt.

Since anyone who started at uni since 1990 has been eligible to pay fees, people who left uni 20 years ago could still have student loans outstanding.

Add in sky-high property prices – in Oxford, the average rent is £1,113 per month which eats up half of the average wage of £26,500 – and anyone under 30 could be forgiven for feeling hard done by.

The pocketmoneyloans.com website also goes on to encourage kids to apply for a bouncy castle mortgage, although it warns “your bouncy castle may be repossessed if you do not keep up loan repayments”.

It’s funny but it’s also just a little scary because it’s not such a stretch to believe this could actually happen, is it?

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