Lending money from a national bank comes with many prerequisites. An incredibly good credit score not only grants you access to the money but also the potential to lower the exorbitantly-high interest rate that comes with paying it off. While borrowing from the bank can always seem like the safest option, many consumers do not qualify for a loan. Those that do meet the requirements, end up paying a lump sum on top of a small loan amount. This is where micro-loans become a blessing to your financial situation.
A micro loan is essentially a small amount of money issued by individuals/businesses rather than a traditional bank or credit union. What makes these micro-loans so enticing is the fact that, even with a bad credit score, indebted consumers can make use of these loans without any penalty. The only requirement normally is; a set minimum income to gauge if the borrower can repay the loan. This has led to the rise of many struggling consumers being able to utilize loans to better their financial and living situations.
A micro loan is typically associated with small sums of money being borrowed at a reasonable rate or looking to borrow less than what the bank has to offer. This is normally done by consumers who are struggling with bad credit and cannot make use of the bank. While many deem borrowing from anywhere other than a national bank to be a risky procedure; rest assured that Dot Loans provides you with the best possible loans at an incredibly low rate.
At Dot Loans, we strive to provide our clients with excellent service delivery, incredible rates and a loan service that can cater to every South African consumer that has been blacklisted. Our micro loans have made a definitive impact on many of our clients’ lives; what’s stopping you from doing the same? If you are struggling with indebtedness and a bad credit score, let us provide you with the means to improve your life, one small loan at a time.
If you have any further questions about dotLoans and its micro loan services, feel free to complete the form today!