The Debt review process is designed to help over-indebted consumers get back on their feet. It protects your assets, and gets creditors off your back.
Under debt review, you’ll benefit from the extended terms and lower interest rates negotiated on your behalf. You’ll also only have to repay the consolidated debt in one affordable monthly instalment.
What about life’s little emergencies?
A properly restructured debt repayment plan ensures your family’s essential expenses are covered. But what happens when you need funds to pay for life’s little emergencies?
With your credit rating in tatters, and the Non-Bank Financial Institutions Regulatory Authority (NBFIRA) breathing down your neck, applying for an unsecured bank loan is not an option.
So, how do you find the money to pay for the medical or dental specialist your medical aid does not cover? Where do you find the funds for that unexpected school outing? Or, how do you pay for the repairs to essential business tools and equipment, your car or your home?
If you can’t borrow money from a bank or building society in Botswana, and your family and friends are flat broke, what’s the alternative? This is when an asset-based loan from lamna Botswana is a financial lifeline.
Asset-based debt review loans
When you’re under debt review, asset-based loans are the one legal means of borrowing money in Botswana over the short-term. They’re a safe, discreet and affordable way of accessing funds, without raising the ire of the NBFIRA.
lamna Botswana provides instant cash loans using a wide variety of high value items as collateral. A well-maintained car, boat, jewellery, luxury watch, art work, or any other luxury item you own, can be used to unlock emergency fund within 24 hours.
Entrepreneurs, startups and small business owners in Botswana can leverage their wholly owned commercial property to secure short-term business loans from lamna.
The amount of money you can borrow is dependent upon the appraised value of your luxury asset. Repayment terms are flexible, and range from three to 24 months. Interest rates comply with industry standards.
Once you’ve signed the loan agreement, your asset is held in a lock-up facility, and the funds are electronically transferred into your bank account. When you’ve paid back the loan at the agreed interest rate, your luxury item is returned to you.
Benefits of asset-based loans
As asset-based loans are a type of secured loan, the risk to the lender is negligible. As a result, you don’t have to support your loan application with bank statements or payslips, and the lender does not take your credit score or financial history into account when processing the loan.
That means any Botswana citizen who owns an expensive, high-value item is pre-approved for a short-term asset-based loan from lamna Botswana – whether they’re under debt review or not.
Why use lamna Botswana as your debt review loan provider?
- Fixed fees
- No credit checks
- Flexible repayment terms
- Competitive interest rates
- No supporting documents
- Same day loans processing
- No early settlement penalties
- No impact on the debt review process
- Office conveniently located in Gaborone
- Accredited lender compliant with the NBFIRA
At lamna, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles or artwork. 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.