ONE ON ONE WITH A LAMNA CLIENT
Robert Lots, repeat client talks to us and tells us why when he needs funding for his business, Lamna has become one his preferred business partners.
Robert Lots owns a successful construction company and has found it impossible to get funding from the banks.
LAMNA: What business are you in?
RL: I own a construction company.
LAMNA: What made you come to us in the first place?
RL: I have 4 -5 jobs on the go all the time. Due to the nature of the industry, payments from my customers are highly erratic, yet I still have constant overheads with staff, and I often need to buy materials before my clients have paid me. I am under constant cash flow pressure. I have tried getting an increased overdraft at my bank, but it’s proved to be impossible. I found you on the internet and made contact with you. I had the funds in my account the same day. It was amazing.
LAMNA: And you’ve used our service again since then?
RL: Yes. It’s become easy and convenient for me. I’ve got your number in my phone. You’ve already vetted my assets, so I drive in and leave with the funds in 5 mins. It works for me.
LAMNA: Robert, thank you for your time. We’re really glad we can be partners in your journey.
LAMNA PRIDES ITSELF ON ITS CONFIDENTIAL OFFERING. THIS INTERVIEW WAS DONE WITH THE CONSENT OF THE CLIENT IN ORDER TO EDUCATE CLIENTS ABOUT OUR OFFERING.
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.