Micro Loans SA or Micro loans South Africa are loan that are offered at a lower interest rate and at a lower amount compared to the loans that are offered or granted at through SA banks.
Why Micro Loans
Loans that are offered at the banks are mainly for people who are stable when it comes to an income as they are employed or have the potential to establish themselves through a good background in education.
Micro loans on the other hand are for people who have had it rough in life. Those individuals who are not well settled and struggle to meet even the most basic expenses are the ones who can make the most out of micro loans. This is because these loans have lower principals that are sufficient for the target market. Also, the interest rate is also very modest as the objective behind the loan is to establish the person taking the loan through either providing them financing for a small business set up, or to receive education or build a house, etc
Micro Loan SA:
- Thuthukani Financial Services Pty Ltd – Believes that it can empower South Africa through fuelling growth in the suppressed segments of the society
- Kadima Loans – This company is an agent of the ever popular SA Multi Loans and provides micro loans on their behalf
- Blue Financial Services – This is a company established in 12 other African countries and brings with itself a diversity of experience and expertise
- IZWE Loans – IZWE loans is also a recognized company and has been providing micro loans in South Africa for a number of years
- FinBond – FinBond specializes in providing low cost finance to under-represented segments of the society