loans against business vehicles in Gqeberha

Lamna offers loans against business vehicles in Gqeberha and elsewhere in South Africa.

Releasing the capital embedded in one or more company vehicles is a quick way to boost commercial cash flow. Funds are available within 24 hours.

How short-term loans against business vehicles work

Loans against business vehicles in Gqeberha are asset-based loans. Lamna holds the vehicle as collateral and stores it securely for the duration of the agreed term.

Funds, based on the appraised re-sale value of the car, truck or bakkie, are made available on the same day. Once the loan is re-paid in full, the vehicle is available for collection.

Lamna’s vehicle-backed loan application process is quick, easy and intuitive.

It involves making a call or sending a WhatsApp to the Lamna call centre on 086 112 2866. Alternatively, an application form is available online.

Based on information provided on the vehicle, an initial offer of a loan is made over the phone.

An appointment is set up for a physical vehicle appraisal at the Lamna Gqeberha branch.

A loan agreement is drawn up and signed. The required documents are handed over, along with the vehicle. The funds are transferred into the SME’s business account.

When to consider a vehicle-backed loan for your business

Loans against business vehicles are useful when there are sufficient funds in the business to repay the loan.

Getting a loan against a business vehicle in Gqeberha is a low-risk financing solution, ideal for:

  • pursing business opportunities
  • maximising profitability
  • driving expansion
  • managing company cash flow
  • investing in inventory and equipment.

Where to get loans against business vehicles in Gqeberha

Lamna appraises the value of business vehicles and completes the administrative side of loan applications at the Gqeberha branch.

We’re at 6A Gecko Business Park, 9 Buffelsfontein Road, Mount Pleasant. Our offices are at the intersection of High Street and Melsetter Road.

At this branch, you can bring your vehicle in for a final evaluation or pop in to apply for a loan.

Why use Lamna as an asset-based loans provider

Lamna is a registered finance provider, with branches across South Africa and Botswana.

We offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or artwork.

We charge a flat monthly interest on loans. Transactions are transparent and fair, and loan agreements are 100% compliant with the National Credit Act.

As funds are secured by the asset, we don’t conduct creditworthiness or affordability checks. Agreements are kept strictly confidential and details are not shared with credit agencies.

Getting a loan against a business vehicle through Lamna has no impact on an SME’s ability to raise capital again in the future.

For more information about using an asset to secure a short-term loan, contact us on 086 111 2866 or simply complete and submit our online application form.

Illustrative example

Client borrows R10,000 for 90 days.

Loan Amount Repay Terms Monthly Repayment Total Repayment Initiation Fee Monthly Fee
(Interest + Service charge)
APR
R10 000 3 months R568.40 R12 902.20 R1 197 R560 60%

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APR & Loan repayment period

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.

Renewals

All accounts may be renewed if they are up to date.

Collection

All payments are made via EFT or direct deposits into Lamna’s bank account. There are no debit orders.

Non-payment

Non-payments may result in the matters being escalated.

Illustrative example

Client borrows R10,000 for 90 days.

Loan Amount Repayment Period Monthly Repayment Total Cost of Loan Initiation Fee Monthly Fee
(Interest + Service charge)
APR
R10 000 3 months R568.40 R12 902.20 R1 197 R560 60%