If you need some cash in a flash, but you’ve exhausted your more traditional capital sources, local short-term asset-based lender Lamna Financial may have the answer:
The company will give you a cash loan, using your car as collateral provided it has no outstanding finance in place.
“As an asset class, a motor vehicle or fleet of vehicles can suddenly become a potential route to financial salvation, as it enables the individual or business to immediately access the value of the asset,” says Charles Meyerowitz, co-founder of Lamna.
Meyerowitz says the process is confidential and efficient, offering a solution within 24 hours.
Clients apply online and an indicative offer is made, subject to an inspection and valuation of the vehicle offered as collateral.
Once the value has been confirmed, funds are immediately transferred to the client and the vehicle is stored in a high security off-site location.
Interest on the loan is payable monthly and the loan is repayable at the end of the agreed term. Interest is within the guidelines of the National Credit Act and depends on the size and nature of the asset.
Once the interest and loan are repaid, the vehicle is returned to the owner.
“The process is free of cumbersome documentation, payslips, budgets, and forecasts, and the service is discreet, swift and efficient,” says Meyerowitz.
See www.lamna.co.za for more information or to apply for a loan.
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