Secured loans in Port Elizabeth
If you are looking for secured loans in Port Elizabeth, Easy Loans Online may be a worthwhile solution. Living outside Port Elizabeth doesn’t exclude you from the benefits offered by this institution either, as it has offices at major cities nationwide. If you are the owner of a property either with a bond or fully paid, you can use your property as security.
The harsh economic environment has driven many people towards finding alternative solutions to their financial dilemmas. While borrowing money from family and friends is an option for some people, this isn’t always an option.
The micro lending industry has grown at a fast rate in South Africa – giving more people opportunities for getting access to credit.
What are secured loans?
Secured loans are credit agreements in which the borrower pledges one of their assets as collateral for the loan.
They are usually available to people who have been denied unsecured loans. These loans are quite risky, because if you miss payments or default on the loan, then the bank or lending institution can collect the collateral.
Secured loans generally have a lower interest rate and can be a good way to build credit.
A financial institution that offers secured loans in Port Elizabeth is Easy Loans Online.
The loans amount you may qualify for is up to 70% of the value of your asset. Short-term in nature, these secured loans are repayable within 3 to 6 months.
Applying is simple and can be completed online. After you apply, a consultant will contact you to discuss the details of the loan. If your application is approved, the money will be paid to you shortly afterwards.
Assets which your loan can be secured against include property, boats, motorcycles, cars, yachts, jewellery, gold, luxury watches, art, antiques or anything of value.