In Bloemfontein, you can find a great number of credit lending companies and numerous types of loans. This might be confusing at times. How to know which one is more convenient in your specific situation? In this article we will show you the different options, and we will let you know how to get them fast.
What are the Best Personal Cash Loans in Bloemfontein?
There are many reasons people need to ask for personal loans. It may be that they need the money to buy something they always fancied, or to make that trip they always wished they could make. However, personal cash loans are sometimes used to cope with an emergency situation.
Whatever the reason you are considering to take a personal loan, we would like to introduce you to a company that you can easily find in Bloemfontein. This company is called Letsatsi and here you can find either short-term or long-term loans.
Whit a short-term loan you can borrow up to R8 000. You can repay the loan in up to 6 months. A short-term loan, allows you to take out up to R100 000, and you can choose to pay installments of 9, 13, 24, or 36 months. For both types of loans you will need to provide Letsatsi with your latest two payslips and your 3 last bank statements. Also, you can apply either online, over the phone or in person.
Can you Find Bridging Loans in Bloemfontein?
Bridging loans are short-term loans that are designed to fill in the gap between two things. For instance if you sold your house to buy another one, but your money will be available at the bank in a month or so, a bridging loan company will provide you with the money for you to finish the transaction for your new house. When the money from the property you sold is at your bank account you will be ready to pay off the loan.
A similar scenario takes place with pension bridging loans, for instance. If you are to cash a payment from your pension fund but you urgently need the money and cannot wait for it to happen, a bridging loan can help you with an advance.
Marlin Credit Services is a company that works in this niche under the rules and regulations set by the NCR. For you to apply for these loans, you should contact them since no online application is available.
What is the Best option for Payday Loans in Bloemfontein?
Payday loans are also meant to help you out if you are experiencing an emergency. It can be a minor emergency such as your car needing fixing or a serious one like having one of your children sick. When these kinds of emergencies take place nearly at the end of the month, it can catch you off your guard. Fortunately, there are various financial companies that offer money advances that you will have to pay back when you cash your salary. These advances are called payday loans.
Little Loans provides payday loans of a maximum figure of R8 000. They are super easy to apply to; all you need to do is fill out an online application with your personal and financial information. The best thing about Little Loans is that loan applications are processed quickly and that you will only have to provide your ID, proof of residency and being able to confirm that you are employed and that you will be employed during the loan term.
2 Types of Business Loans you can Find in Bloemfontein
If you own a business you will know for sure that finding finance that will allow your company to grow is not that simple. First, you might be a little uncertain as to what type of loan is more convenient for the purposes you have in mind.
There are two main types of Business Loans in the credit market: a regular business loan and a Business Revolving Loan. The former is an amount of money you borrow for a specific period of time. For example, you could ask for R400 000 and pay it back in four years. A Business Revolving Loan, on the other hand, is a loan that allows you to borrow a certain amount, and once you’ve repaid a percentage of this amount, you can borrow again the original amount.
First National Bank offers both of these credit facilities. You can apply for these loans no matter if you are a customer of FNB or not. However, if you are not a client of the bank you will have to contact the bank if you want to ask for a Business Revolving Loan.
How to Apply for Student Loans in Bloemfontein?
We all know that obtaining a higher education degree gives you some advantages. People who graduated from universities tend to have higher salaries and enjoy certain job stability. However, not everybody can afford the costs that come with attending a college or university. You have to think about tuition fees, accommodation expenses, reading material, food, just to name the most basic items.
In Bloemfontein there are many banks that offer student loans. We will talk about Absa Student Loans in this article. In order to apply to an Absa Student Loan or any other loan in the market, you need to know the qualifying criteria. In the case of Absa Bank you will need to meet the following ones:
- Be a South African Resident
- Earn more than R3 000
- The loan must be under the name of one of the parents, a tutor or a student with a full-time or part-time job
If you meet the above requirements, you are ready to start your application with Absa Bank. For this, you need to visit an Absa branch or an Absa Student Bureau or call Absa Bank.
Are there Private Loan Lenders in Bloemfontein?
The reason we take the time to write these articles is for you to find the best loans that are convenient and safe. We make our investigation having your financial security in mind. That said, we would not recommend any private lender that is not registered with the NCR. We believe that it is always in your best interest to enter into credit agreements with companies that have a history, that run their business on the basis of the rules established by the NCA, and that if you have a problem you have somewhere to turn to.
Bloemfontein is a big city with many opportunities. This is also true when it comes to credit lending companies. We wanted to show you the main types of loans you can find in Bloemfontein and how to get them. Also, we needed to urge you to stay away from loan lenders that are not registered with the NCR.
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Preguntas Frecuentes
Can I choose the bank to work with?
Of course! Once you decide you contact the bank you've chosen.
Can I decide the rate?
Depending on the bank, you may discuss it with them.
Can I apply for a loan if I work part time?
Yes! As long as you can afford it with your salary.
Please, I need a loan of R100,000. I must pay the High Court before 15th August 2022. Otherwise, I'll lose my money.
To obtain such a big sum of money, 100,000 rand, to pay the High Court, you can resort to a private company like Letsatsi, for example. With this entity, you can obtain a short term loan with a repayment period of 9,13,24 or 36 months. You will need to provide your two latest payslips and your three last bank statements.