Moola Loans – Finance for Blacklisted Individuals
If you are a blacklisted individual, you have without a doubt experienced a challenging time with getting access to personal loans. Banking institutions are not willing to extend credit to you with a blemished credit record.
Micro finance institutions such as Moola Loans have stepped up and identified a segment of the market that has been underserved for a long period of time. With the amendments made to the National Credit Act in 2005, more micro lending institutions have entered the industry. Companies such as Moola Loans are catering to a niche market that are blacklisted and are unable to access credit from traditional lenders.
What Moola Loans does is that it works with several blacklisted lending brokers to source finance for individuals.
Moola Loans realises that the chances of having your blacklisted loan applications accepted using this method are much higher than if you were to approach one lender at a time. Lenders that Moola Loans is associated with are registered with the National Credit Regulator (NCR).
Various lenders within the Moola Loans network offer personal loans of up to R250 000.
The loans are unsecured, so individuals don’t have to worry about putting any assets up as collateral.
What are the qualifying criteria?
- Be a South African citizen
- Have a valid South African ID
- Have an active bank account with debit order facilities
- Earn a minimum salary of R3000 per month
To apply for a personal loan from Moola Loans, call: 074 123 8235 or send an email to finance@financeturtle.co.za
After you apply for a loan, Moola Loans will do the hard work for you by forwarding your information to loan providers who are offering the type of loan that you are looking for. The lenders will grant the loan at their discretion based on your affordability.
