Peer-to-peer lending is an increasingly popular system of credit that allows for credit agreements to be extended between people instead of just people and banks. It’s also called P2P lending, and it’s usually administrated by a third-party company that’s there to make sure the process goes smoothly and the loan gets paid back. One can sign up to peer-to-peer lending websites either as a lender or credit provider. ...

People applying for loans today tell stories that those who applied ten years ago find unfathomable. There is a lot more to a loan application today than there was back then. The number of financial hoops applicants need to jump through before being approved has become seemingly insurmountable. So, why is it getting harder to get loan approval in South Africa? ...

Did you know that despite a good credit score your personal loan application can be denied? Don’t be fooled by what the credit score adverts on TV tell you. They make it sound as if a high credit score is all you need to secure a loan. In truth, there are other factors a financial institution considers when deciding if you qualify for a personal loan. ...

Nowadays, in a tough economic climate, many people are struggling with little to no savings, a low income, and poor credit. This becomes a problem when unexpected costs pop up like medical bills or car repairs and there is no extra cash to spare.When the time comes, you might want to apply for a loan to tide over your finances when an emergency pops up. But what about your credit score? If you don’t yet have a credit score or ...

Borrowing money has become commonplace for many South Africans trying to make ends meet in a tough economic climate. There are various loans available, all with their terms, qualifying criteria and interest rates. Two very popular loans are personal loans and payday loans. Both of these options involve borrowing money for personal reasons but with very different terms and rates of interest. Let’s break it down: ...

Desperate times call for desperate measures. When you are in a pickle and need money, your first inclination is to approach the bank for a loan. However, when you find yourself in a tight spot with money, the chances of a loan being approved by the bank are quite slim. This leaves you no choice but to borrow money from another source, like loan sharks. ...