Bridge Loans Lifeline Eases Financial Burdens
February 19, 2015
A good credit record opens doors for you when you want to buy a car or property. What can you do if you need a loan but your name has been put on a blacklist? What happens when credit providers won’t give you credit?
Bridge loans throw you a life-line because they provide a bridge from your financial worries to your financial freedom. With bridge loan financing you get to choose different repayment methods. With Bridge Loan lenders, you can choose to pay your loan off in a month or a year by way of a debit order. This takes the money automatically out of your bank account each month.
There are many people in South Africa who are blacklisted, who need cash loans desperately and who can’t get a loan. No matter what your financial situation is, even if you are blacklisted, you will be able to get debt consolidation loans from Bridge Loans. They specialise in helping South Africans with a poor credit history get accepted for a consolidation loan.
Under the Microfinance Regulatory Council (MFRC), many South Africans have been able to start a businesses or get personal loans for other reasons. Look out for reputable microlenders who are registered and accredited with MFRC.
What is Bridge Loans?
Bridge Loans is a registered credit provider. They were established in 1994. Their loans for bad credit are a life line to people who find themselves in financial difficulties and who can’t get financial aid. As a credit provider you enter into an agreement with them to borrow money. This agreement will tell Bridge Loans how much money you want to borrow, how much you will pay back each month and how long you have to repay your loan. Bridge Loans will also explain to you what will happen if either party doesn’t abide by the loan agreement.
With their head offices in Pretoria and more than 100 Bridge loans branches in South Africa, this payday loans lender is a leading credit provider of short-term unsecured loans. Bridge Loans will keep your application complete confidential and none of your friends or family will even know about your application. With their competitive rates and easy repayment terms, you’ll be able to handle your financial responsibility with ease.
You simply complete the application online and they get back to you within 48 hours. They have created different loan products for South Africans which are affordable and which are offered in 4 categories – AdvanceONE, AdvanceFOUR, AdvanceSIX and AdvanceTWELVE. Where AdvanceONE offers a cash amount with a repayment period of 1 month, AdvanceTWELVE offers offers the maximum amount of R15,000 and a repayment period of 12 months.
Loans for bad credit
Bridge Loans have helped many South Africans out of their financial pit of despair and assisted them towards financial freedom. Loans for bad credit are a reality at Bridge Loans because they are a credit provider who looks at your future potential rather than looking at your past. Within minutes you can apply for a bad credit loan. Because they offer unsecured loans, it means there is no collateral associated with the loan. Most of South Africa’s banks want you to be at least 21 years of age before you can borrow money from them. With Bridge Loans, you need to be 18. You must have a full time job.
Who can borrow from Bridge?
When applying for a personal loan from Bridge, you will need to be:
- 18 years of age or older
- a South African citizen
- permanently employed with a valid and active bank account
- not under debt review or administration. When you apply to Bridge Loans for a loan for the first time, they will require the following documentation from you:
- your ID document
- your latest bank statements going back 3 months
- payslips. Bridge Loans can’t give you a loan if you aren’t working or you can’t afford it. They check out all your details to make sure everything is real and not fake. They will check with your job to make sure you work there and they will also do a credit check. To avoid being disappointed and having your loan turned down, make sure you you meet with all the requirements of Bridge Loans.
All info was correct at time of publishing