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What Loan is Best in George, Western Cape? - Quick Application

There are hundreds of options for loans in George, Western Cape; and this might make it hard for you to make a decision. This is our aim today: that you are able to know the most reliable credit lending companies for personal loans, consolidation loans, payday loans and business loans for micro and small companies.

How to Find the Best Personal Loans in George, Western Cape?

When you need to borrow money from a lender you need to figure out what is your situation:

  • You need a considerable amount of money
  • You need a small loan but fast
  • You need to borrow money but you don’t meet the general requirements for personal loans

On the basis of these three scenarios, we will show you what the best options are. Let’s start with the first one. Personal loans are usually unsecured and can have a repayment period that ranges from medium to long. When you need to borrow large amounts of money, usually the best options are regular banks. In George you will find the following bank to ask your personal loan:

Absa Bank: you can borrow up to R350 000 and pay it back in up to 84 months.

However, if you don’t need a lot of money but you need it as fast as possible, you could consider taking out a short-term loan at online platforms such as Wonga loans. This company offers loans that are processed in a matter of minutes and you could have the money super quickly.

The problem with the options mentioned above is that you need to meet certain requirements to qualify. Usually, you need to provide the lender your ID, proof or residence and your last payslips and bank statements. If, for instance, you are unemployed and cannot prove your income, you could think about a loan against your valuables. In George, you will find an excellent pawn house called Cash Crusaders.

1 easy Way to Compare Consolidation Loans in George, Western Cape

If you have more than two or three loans taken out at different credit lending providers and this is causing you inconveniences, maybe it’s time to do something about it. The best thing you can do is take out a consolidation loan to pay off all of your other loans and keep only one loan that will be more manageable. With this new loan you even might be able to save some money since you might get a better interest rate.

Ok, you know how these loans work but you might get a bit frustrated since when you start your search you find out that there are many options. How to choose? One of the easiest ways to do this search is doing it through Hippo. This is an online company that on the basis of the information you provide (how much money you need, your income, etc.) searches it data base to find the best match.

You will be offered many options and you will be able to choose the one you like the most because it is cheaper or because it offers more installments. You need to take into consideration that Hippo is not a lender; you will be contacted by the lender after you choose a loan.

What are the Requirements for Payday Loans in George, Western Cape?

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Payday loans can be real life savers in those moments when we just cannot make ends meet. These loans are short term and usually have to be paid back in a single installment when you receive the money from your salary. For example, you can request a payday loan because you need to cover for an expense you did not foresee, such as buying medication or fixing something at your house.

Konga is an online platform that specializes in providing payday loans to South Africans. You can borrow a maximum amount of R5 000 and you choose when to repay it (from 4 to 35 days). The application has to be performed online and is super quickly. Konga makes approval decisions in seconds and the money can be transferred into your bank account almost immediately.  

Konga is a legitimate and reliable credit lender. They are registered with the NCR and strictly comply with all its rules and regulations. Since it is a reputable company that meets the standards enforced by this governmental institution, they will ask some documentation to see if you will be able to afford the loan without running into financial trouble.

These are the requirements you need to meet:

  • South African ID
  • Being 18 or older
  • Having a valid bank account
  • Bank statements

3 Requirements to Get an Asset Loan for Micro and Small Business at SEFA

Small companies can have a hard time finding finance to operate and grow their business. SEFA stands for the Small Enterprise Finance Agency and since 2012 it has been providing financial solutions for SMMEs and cooperatives in South Africa.

With SEFA your company can finally ask for a loan to buy machinery or equipment you need for your operations. These assets can be either used or new and the repayment period can be up to 60 months. In order to qualify for any of SEFA’s loan your company needs to be a registered entity in South Africa.

To request a loan at SEFA, you will be requested the following 3 documents:

  1. Business plan
  2. Cash flow estimations
  3. Lease or franchise agreement (if applicable)

These three requirements are specific for asset loans; there are other documents that you will need to give SEFA, such as:

  • Application form
  • Surety form
  • A copy of ID and the ID of spouse
  • Resume for all members of the company
  • Bank Statements

In this short article we tried to help you narrow down your search for loans in George, Western Cape. We talked about options for personal loans depending on your specific needs. We also recommended a company to ask for payday loans, and we introduced you to a company that helps you find for the best consolidation loans. Finally, we listed the most important requirements for accessing to an asset loan at SEFA for micro and small companies. 

Leave your question

Questions and answers

My annuity payout is due in April. Where can I apply for cash until then?

If your annuity payment is due in April and you need money, you can, for example, resort to Absa Bank where you can obtain up to 350,000 rand with a repayment period of 84 months. However, if you are in a hurry to borrow some cash, you can apply for a Wonga loan. The application can be done quickly, and you can get the money within minutes. 

I have a non-profit organization. Can we request an asset loan at SEFA?

To be eligible for a SEFA loan you must be a resident of South Africa and the company must be a registered entity. Unfortunately, your organization will not be able to apply for this loan since this credit lending organization does not offer any type of loans to non-profit organization or political organizations.

How do I send my document to Konga to get a payday loan?

Konga uses a highly automated process and all steps are performed through the Internet. All you need to do is scan or take a picture of the documents and upload them to the online form provided by Konga. This is the reason Konga is able to process application in few minutes.

Hippo charges fees for its service?

The service that this company provides is completely free for users. You will not have to pay anything to use their platform and find the best loan for you. However, the lender that you choose might charge service fees that will be informed to you before you accept the loan offer.

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