Margate, KwaZulu-Natal: LittleLoans has been so efficient finding loans for South Africans that they’ve decided to increase their limit to R8 000! Deciding what short-term loan to choose can be extremely tricky when you consider the varied players in the financial game, reputations of loan institutions, and numerous repayment options (hidden in the fine print) – making huge differences when it comes time to pay it back.
As a financial profiling tool LittleLoans has been incredibly successful. Sifting through hundreds of options and compiling them into one comprehensive list of short-term loans to review (if you’ve been honest with the questionnaire online). Once you’ve made your informed choice you can apply for the loan with deposits (cash) being made into your account on the same day – without any paperwork.
LittleLoans – understands that simple and understandable financial advice is worth it’s weight in gold. According to a report compiled by the Southern Africa Labour and Development Research Unit, Measuring and Profiling Financial Literacy in South Africa 2016, only 48.4% of South Africans understood financial terminology and were literate in the subject. It’s for this reason that reports generated by the online short-term loan compiler are informative, uncomplicated (without serious jargon), compact, and directly displayed on your mobile or computer. This simplification means that more local customers are using the service – with 2,500 people using it on a daily basis.
With such a large amount of traffic to the site, and a broader wealth demographic logging on, the company decided that it was in the best interest of the consumers to up the old LittleLoan.co.za limit of R2 500 to R8 000. The same programming algorithm is still in play to help compare the best financial institutions and inform applicants of all the options when expanding their spending reach.
So if you’ve had a very unfortunate month where you’ve had series of small mishaps like:
- a flat car tyre;
- a surprise visit to the medical specialist;
- or a leaky roof;
You can now select a bigger little loan to fix your problems quickly while being fully informed.