Secure loans in Cape Town: a life saver for business owners

Secure loans in Cape Town provide for affordable and accessible alternatives to the more conventional overdrafts and business loans in Cape Town.

No doubt, the health and subsequent economic crisis situations in South Africa have been felt throughout the hospitality and tourism industries. Everyone from hair stylists to restaurants, tour operators, and the accommodation providers have been unable to operate in part or full capacity for several months.

With financial institutions reluctant to lend money to businesses in sectors considered as high-risk, many business owners in Cape Town are struggling to resume operations. They need money to keep afloat or to kick-start their operations. Fortunately, not all is lost for these business operators. We make it possible for them to put up assets as security for short-term loans.

Security Loans in Cape Town

How the process works

The applicant completes the short application form and submits the required documentation. We assess the vehicle’s value at one of our six branches and based on the assessment and trade value of the vehicle, offer a loan amount. Our consultants explain the repayment terms and interest payable. If the applicant approves, the agreement is signed, and the money is paid to their bank account.

Types of vehicles accepted

We accept everything from cars and motorcycles to boats, caravans, and trucks as security.

Benefits of pawning vehicles for cash

The applicant does not have to complete a lengthy application form. The application process can be completed within 30 minutes. The money is paid over to their bank account immediately after approval. It is a quick and straightforward process. With no credit checks, background assessments, or proof of income required, small business owners can get the cash they need fast even if their businesses have not been operational for the past few months.

Other benefits include:

  • No need to provide reasons for borrowing money.
  • Ability to extend the repayment period if all the interest is paid in full.
  • No effect on the applicant’s credit record.
  • Safe and secure storage of the vehicle during the repayment period.

Documents needed

As the vehicles are the security for money borrowed through our branches across South Africa, the vehicles must be paid in full. As such, the applicant must provide the original registration papers for the vehicle, their SA ID, and valid South African driver’s licence. If the vehicle is registered in a business’ name, the applicant must provide the original vehicle registration papers, ID documents for all the directors, and the company registration documents.

Amount to borrow

Unlike with other types of finance solutions for businesses, the amount for which the applicant can qualify is not based on their credit profile or income. Instead, it is based on the assessed value of the vehicle and the vehicle’s trade value. Everything from R5 000 to R250 000 can be borrowed based on the assessed vehicle value.

Safe storage of the vehicle

We store the vehicle in a safe and secure storage facility for the duration of the repayment period. It is insured as well. The facility has 24-hour security that includes surveillance cameras, access control, and electric perimeter fencing.

Where can a person apply for one of the security loans in Cape Town?

Simply complete the online form or SMS “Quick Cash” to 41235 to start the process.

Apply For a Loan