3 Good Ways to Secure Cash Loans

23 Jun 3 Good Ways to Secure Cash Loans

You could be struggling to reach the end of the month with the high price of food, rent, bills and more, or alternatively you may need cash loans to buy more business assets in order to secure more business. Either way it can be quite a daunting task to ask for cash loans and usually there is quite a stigma attached, BUT there really needn’t be. According to Fin24.com, 86% of South Africans borrowed money either through banks or via cash loans in 2014 and most of these were to cover day-to-day costs such as education and healthcare. So you are definitely not in the minority of South Africans should you be wanting to secure cash loans.

cash loans

Secure Cash Loans

So here are the 3 best ways to secure a cash loan:

1. Banks or Financial Institutions
Receiving cash loans from the bank are probably the most secure way of accessing cash. The process however is quite long and the paperwork quite cumbersome. However banks will offer the best interest rate and assist where they can. Unfortunately however a bank usually won’t offer cash loans to those who have been black listed or sequestrated.

2. Cash Loans from Family and Friends
If you’re struggling to secure cash loans from the bank the next port of call would probably be asking friends and family for a loan. Although this is probably the quickest route it can also lead to conflict and difficulties within the relationship if you’re unable to pay back the loan or a family member cannot loan money to you. If you are going to loan money from family or friends make sure that you sign an agreement and make a point to repay the loan according to the agreement, promptly and without complaint.

3. Cash loans from Pawn Brokers
One of the most popular ways to secure cash loans quickly is to use a pawn broker. Pawnbrokers usually lend cash against assets such as cars, jewellery, motorbikes, business assets and more. They will generally offer you what they feel your asset is worth and keep your asset until you can repay the loan. If you are unable to repay the loan they will sell your asset and recoup the cash. Pawn brokers are popular because you are able to receive instant cash against your loan even if you are blacklisted of sequestrated.

For more on this read What you Need to Know Before you Pawn your Car and How to Pawn your Car.

Remember however that saving money instead of taking out loans is always a better option. Try to avoid living paycheck to paycheck and save a little money each month (even if this means cutting back on your lifestyle) so that when you need money for an emergency it is there and you can avoid using a pawn broker altogether.

Good Fellows Pawn Brokers are one of South Africa’s leading cash loans companies. With a ridiculously low 0.7% interest rate per day and many years’ experience in helping you get your asset back, Good Fellows Pawn Brokers offers instant cash loans on all assets such as cars, bikes, jewelry, business assets and more. Contact Good Fellows Pawn Brokers today to pawn your asset for cash.

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