I would like to apply for a loan of R300 000 and have property to the value of R1.2 million as well as two other businesses and a farm. How do I go about securing a loan? I only need the money for about 18 months until my pension is paid out to me. From: Andre
It depends on the type of loan you are looking for and the purpose of the loan. All credit providers require that you are able to prove affordability through servicing of the debt on a monthly basis. The different loan types carry different application costs, interest rates and termination/cancellation costs - as you need the finance for 18 months you have to bear this in mind.
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