The process of applying for a loan can be sometimes a lengthy one, sitting in an office and signing different pages. However Loan Masters have an easy way that is fast and convenient.
About Loan Masters
Loan Masters are a credit lender that specializes in consolidation loans, bridging finance, debt consolidation for home owners and a wide range of financial products. It’s an online platform that allows borrowers to apply in the comfort of their home. Click here to apply online today !
The term blacklisted is a dreaded one, when you get blacklisted, your capacity to borrow money freezes, especially with big banks and established financial institutions. Banks will not even look at your application and your ability to pay back the loan.
Blacklisted Loan Defined
- Micro lending companies often use this term to describe credit customers who are blacklisted and have a negative credit profile.
- It means the person has failed to settle their loans in time, or have lots of credit they can’t handle, they sometimes skip payments, this bad credit is on their credit record.
- In South Africa there are companies that are not adverse to credit seekers with bad credit record; you can find such companies online that have a niche market on this sector of the industry.
- Every company that offers credit to blacklisted individuals have their own systems of checks they put every credit seeker through. Interest is usually high because of taking bad credit consumers.
Loan Masters – Consolidation loans Defined
Consolidation loans are basically one large amount you borrow from a bank or credit provider with the sole purpose of closing off all small debts. Then you will only have one big loan to settle. Consolidation loans are a form of financial discretion when you cannot cope with numerous debts or even forget to pay them. It happens that you could have a credit card, multiple fashion clothing credit, furniture, school fees, utility bills, car payments, appliances credit and you name it. All these small credit come with interest. So at the end of the month you may be paying 5 to 10 interests on different debts. The advantage of debt consolidation is that you will only have one interest to pay off, which can save you money in the long run.
Loan Masters – Bridging loans Defined
Bridging loans is a type of a financial product that is designed to cover your financial needs till you get money or funds that you are expecting in the near future. Bridge loans are perfect when you know an investment will pay off, a pension fund will be made available to you or any payment that is under contractual obligation to give you money in the near future. Bridge loans also extend to companies who have contract to work but lack funds, they can request the loan and carry out the work and when the contract pays the company, then the loan is settled in full. Most popular bridge loans are for pension funds, road accident fund claim, property sales, property commission.
Pension funds: You can wait up to 6 months before documentation is fully processed and receive the pension fund. During this period you can request a pension fund bridge loan that will cover you till you have funds transferred to your account.
Road accident fund claims Sometimes you may have to wait for full 12 months before you can have payout by the RAF. The bridge loan based on accident fund will allow you to have cash while you wait and you can take care of your medical expenses and daily cost of living.
Sale of property: when your property is sold, you can wait for 6 months before you see any money transfer into your account. You can access bridge loan for property that will see you through the months and when the funds come, you can pay off the loan.
Property agent commission: Agents when they sell a property are entitled to a commission. It also can take months to process; you can use the loan to cover your needs till you get the commission money.
You can use our finance calculator or apply for a loan.