Lamna is proud to be leading the way as South Africa’s most trusted, high-end online pawn shop.
Since 2015, we’ve provided funding – ranging from R20,000 to several million rands – to thousands of South Africans, offering a much-needed alternative to traditional funding providers.
Article at a glance:
- what is a high-end online pawn shop?
- growth in high-end pawn shops
- needs served by high-end online pawn shops
- what makes Lamna a leading high-end online pawn shop?
What is a high-end online pawn shop?
High-end online pawn shops provide funds to people who put up luxury items such as vehicles, jewellery, watches, art and other fine goods as collateral.
These loans are fast, discreet and can be applied for online.
Worldwide growth in high-end online pawn shops
All around the world, high-end online pawn shops have been seeing massive growth and a rise in popularity for well over a decade.
As early as 2014, online platforms like Borro were already attracting over US$100 million in funding, allowing them to lend millions to individuals putting up luxury goods as collateral.
Smart investors have been using these platforms for years to leverage the value of physical assets without risking their ownership and keeping their investment portfolio intact.
What need is served by a high-end online pawn shop in SA?
High-end online pawn shops are completely confidential. This makes them attractive to high-net-worth individuals who don’t want their information shared with credit bureaus.
This type of lending allows owners of luxury goods to access the inherent value of their luxury items without resorting to selling them.
With asset-based lending, the loan amount is dictated by the value of the luxury asset. This means you don’t need to disclose your income or submit a lot of supporting documentation.
A loan from a high-end online pawn shop is often quicker and simpler than a traditional bank loan.
What makes us SA’s leading high-end online pawn shop?
Lamna is a registered credit provider with the National Credit Regulator (NCR) and a trusted provider of asset-based funding. We’re also a licenced financial services provider. We’re registered with SAPS in terms of Section 3(3) of the Second-Hand Goods Act 6 of 2009.
Other benefits of securing funding through Lamna include:
- easy and transparent online application process
- competitive NCR-compliant interest rates
- no hidden fees or early settlement penalties
- physical branches in most major South African cities
- no sharing of information with credit bureaus.
Lamna has been operating in South Africa since 2015 and has supplied millions in funding to individuals with luxury goods to offer as collateral.
We offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or artwork.
Contact us on 086 111 2866 for more information about our services as South Africa’s high-end online pawn shop or start your application online.
ILLUSTRATIVE EXAMPLE
Client borrows R10,000 for 90 days.
Loan Amount | Repayment Period | Monthly Interest | Total Cost of Loan | Initiation Fee | Monthly Fee | APR |
|---|---|---|---|---|---|---|
R10 000 | 3 months | R500.00 | R2 914.50 | R1 207.50 | R569.00 | 60% |
Fixed rates range from 36% to 60% APR and payment options range from minimum 3 to maximum 24 months. Apart from the initiation and monthly fees shown below, the only additional fee is credit life insurance if the borrower does not have this already.