Short-term loan approval is there to help you with your cash flow problems.
Whether it be for a business or your individual needs, short-term loan approval is there to get you out of trouble when you least expect it but need it most. No matter how sound your financial status might be, or how well structured your budget is, unexpected cash flow problems can arise.
When these particular scenarios occur, which by the way can happen to anyone, it’s time to take control of your finances before you land yourself in a position where you might need more than just a quick fix loan.
It’s important when considering applying for a short-term loan that you consider the reasons you need it in the first place. This will quickly identify whether a short-term loan is the best option for your newly found cash flow problem. What this loan type offers, is access to funds, typically not a massive amount, that caters to a cash flow problem that can be solved over a short period and won’t necessarily be needed again. Meaning that this form of quick loan approval isn’t something you continue to apply for each and every month.
Will I qualify if I have current debt?
If your credit profile shows that you’re in debt or have an outstanding credit on your name, it will be looked at and analysed when making the decision to approve your loan. In saying that though, you are not exempt from approval since an affordability assessment is performed and should your disposable income allow for the repayments monthly, then qualifying for the loan won’t be a problem. Go through your finances and use the online tools to establish a monthly repayment figure to determine whether you can afford the repayment prior to going through the process of applying.
What amount am I allowed to borrow?
These loans cater to amounts of as little as R500 and up to R4000 and are the same as what you would get when seeking payday loan approval. When making your repayments, if you meet them every month on the specified date as agreed upon, lenders will gradually increase your risk profile with them and provide a more flexible solution where you are able to apply for a second loan or more funds when you need it in the future. Determining the amount you can borrow from the lender, will depend on the information that you provide them with.
The tools online with sliders for borrowed amounts and terms of repayment will easily assist in knowing what you’ll be liable for each month from your monthly budget. Choose the lender that you know can cater to the amount you need to borrow and make sure that you only borrow what you need. You have approximately 6 months to repay short-term loans, however, you can settle early if you’re in a position to do so. Less interest is a bonus and early settlement is always encouraged if you can manage it.
What are the qualifying requirements?
In order to get personal loan approval in Pretoria you need to have a valid cell phone number, a South African ID number, bank statements for the last three months, and proof of income. Your income should be a stable and regular income to ensure your budget doesn’t fail your financial commitments. Freelancers are welcome!
How do I apply for a loan if I’m from Pretoria?
The first step is to decide on the amount of money you need and when you see yourself settling the loan. Go online and toggle the sliders on any of the lenders’ websites that offer it to determine the instalment amount and decide whether you can afford it or not. If you’re happy with what you see, click apply where it’s available.
The next step is to complete an online application form which is super easy and quick considering the task at hand. Offer up all your personal information that is required of you, including the documents mentioned earlier that you will be requested to upload.
Next, your income and particulars are all checked and if everything turns out to qualify you for the loan, you’ll receive instant communication verifying that your request for a short term loan approval in Pretoria has gone through smoothly. Lastly, the money is transferred into your bank account that you use in Pretoria and monthly instalments are collected each month via debit order!