Looking to the primary income stream of international stores, in 2004 we began offering pawnbroking services and by 2007 the National Credit Act (NCA) allowed personal loans not based on credit to get more heavily into lending.
The landing of the global recession in 2008 exacerbated banks lending reluctance and demonstrated our brand was recession-proof: We provide access to cash, and the more difficult it is to get bank loans, the more business we get. Cash Converters offers a number of micro-lending products: Pawnbroking and payday advances (PDAs), which are reflected in the store-level model.
We make lending small values of cash easy for customers which banks are reluctant to give because theyre so risk-averse. In-store, the average sale is R250, the average pawn is R500 and the average micro-loan is R1 200 over 30 days. And because our stores are franchisee owned and operated, the loan experience is face-to-face and franchisees are emperors of their own empire. They can give and decline loans in five to 15 minutes, says Mukheibir.
Tribal lenders are subject to tribal and certain federal laws while being immune from state law including usury caps. If you personal loans not based on credit connected to a tribal lender, please understand that the tribal lenders rates and fees may be higher than state-licensed lenders. Additionally, tribal lenders may require you to agree to resolve any disputes in a tribal jurisdiction.
You are urged to read and understand the terms of any loan offered by any lender, whether tribal or state-licensed, and to reject any particular loan offer that you cannot afford to repay or that includes terms that are not acceptable to you.
The purpose of shorter duration loans is to provide the borrower temporary financial relief. Such loans are not a long-term financial solution. Persons facing serious financial difficulties should consider other alternatives or should seek out professional financial advice. This website is not an offer to lend.
Award winning service. Our multi-award winning Customer Service team was voted 'highly commended' in the Most Trusted Loans Provider category at the Moneywise Customer Service Awards - for the third year in a row. What our customers say. Every stage of personal loans not based on credit application from applying to receiving the cash was extremely straightforward. The staff are so professional and offer a truly personal service. Frequently Asked Questions.
What can I borrow money for. You can borrow money for most things, including: - A car or vehicle - Home improvements cash advance republic mo Debt consolidation - A special event such as a wedding or holiday - Any other reasonable purpose. Will applying for a loan affect my credit score.