Little Loans

Little Loans was launched in 2014 to provide you with the ability to find multiple loan options in one application.

They realised that searching for a loan is time-consuming and wanted to offer a convenient solution.

Avoid multiple credit checks

When you apply for a loan, the company will do a credit check to establish your repayment habits and decide, among other factors, if you’re eligible for a loan.

Applying to multiple lenders for financing means that you’ll undergo multiple credit checks which might reflect negatively on your credit record.

This is where Little Loans makes life a little easier. They only do one credit check and then source the market for all lenders that can offer you financing. Next, you’re presented with multiple loan options to choose from.

What is a payday loan?

The name is self-explanatory but to break it down simply, a payday loan is a short-term loan that is paid back over three or fewer instalments.

Payday loans are good for those mid-month crises or that unexpected bill. Since they are paid out so quickly, they can be referred to as quick loans.

A quick loan could be the answer

One of the main reasons for the popularity of payday loans is accessibility. There are no lengthy queues, no reams of paperwork, and no extra long waiting periods. The process is simple and hassle-free so you get your loan fast.

As opposed to a personal loan, a quick loan will give you access to funding in 24 to 48 hours. It’s essentially the fastest way to solve your cash flow problems.

Little Loans has made sure that its loan process saves you time and is available at your convenience.

Obtaining a quick loan is a great way of building a good credit record.

If your loan is paid on time it reflects on your credit record. A good credit record in turn makes it easier when you’re ready to purchase your first home or need financing for a vehicle.

What a quick loan can offer you

With a quick loan from Little Loans, you could enjoy cash amounts ranging from R500 up to R8,000. The chosen loan amount is repaid in one instalment on your next salary date.

Little Loans acts as a loan comparison site and they don’t charge for their service. They use innovative and up-to-date technology to search through a network of lenders to find you a suitable loan.

Access affordable quick loans

The interest, costs, and fees related to the loan you choose depend on the loan amount you apply for. You can however expect to pay up to 5% interest per month. If, for example, you choose to apply for funding of R2,000, you can expect the following scenario:

• Loan term – 20 days
• Total interest – R45.30
• A service fee – R40
• Value-added tax – R42.70
• Initiation fee – R265

Thus, adding all of the above-mentioned costs and fees to your initial loan amount, you can expect to repay a total amount of R2,393.

How to know if a quick loan is right for you

There are numerous reasons why people opt for quick or payday loans. The most popular reasons are cash flow problems or unexpected emergencies. Irrespective of the reason, how do you know that it’s the right option for you?

Due to the convenience and ease of the loan process, it’s the fastest and easiest way to obtain the credit you need. Always bear in mind that this is not an addition to your salary but instead an aid to make life simpler and that you’ll need to repay.