As a small business owner with a fully paid-up truck or bakkie, you can use your vehicle as security for an instant cash loan.
This means you can access funds for your business immediately – without having to sell your vehicle, prove your financial status or take unnecessary risks with dodgy lenders.
Generally, you can expect the loaned funds to be available to you within 24 hours of when you apply.
How vehicle loans in Gaborone work
Based in Gaborone, lamna Botswana provides short-term, asset-based loans for a range of assets, including vehicles such as cars, bakkies, motorbikes and trucks. In other words, we grant loans based on assets of value that our clients choose to offer as collateral.
We base our initial offer of a loan on the information you provide about your vehicle’s make and model, online or over the telephone. You can then choose whether or not to proceed.
An independent appraiser will inspect your vehicle at our Gaborone branch. Provided you own the vehicle and it’s fully paid for, we’ll then make a final loan offer. The only documents we’ll need are the vehicle’s original car registration (which must be in your name), and your ID and proof of address.
When an agreement is signed, we move your vehicle to a highly secure, access-controlled facility and transfer the funds into your account.
Once the loan is paid and agreed interest are paid back, the vehicle is returned in the same condition you left it. Nobody else will drive it or have access to it before then.
Who should apply for a loan against a truck or bakkie in Gaborone?
Vehicle backed loans are tailor-made for individual service providers, start-ups and SMEs that haven’t had time to build up a credit history.
They are also a viable option for small businesses in distress. Builders, plumbers, farmers, electricians and any other emerging business, can use an existing asset to improve cash flow.
In fact, anyone who cannot borrow money through the traditional channels, like banks and building societies, are virtually pre-approved for short-term asset-based loans from lamna.
Why consider a truck or bakkie loan for your business?
Vehicle-backed loans can provide liquidity for small businesses, serving as a financial lifeline. They’re also often available even if you’d struggle to secure an equivalent bank loan – for example, because your business is a startup.
The loan approval process is quick and easy. Because the loan is secured by the value of your vehicle, there’s no need to submit balance sheets, cash flow statements or profit or loss statements.
The only supporting documents you’ll be asked to provide are the vehicle’s original registration papers (which must be in your name), and your ID and proof of residence.
Terms are clearly outlined and straightforward. And with a loan from lamna, you won’t be putting your other business and personal assets at risk.
A loan from lamna also won’t affect your or your business’s credit rating.
Why choose lamna as your small business loan provider in Botswana?
lamna is a reputable, well-established financial services provider. We’ve been providing asset-based loans across South Africa since 2013, and have multiple physical branches. Now we’ve expanded our operations into Gaborone, too.
Our loans model is fully compliant with the NBFIRA, and our interest rates are competitive. Our process is confidential and transparent, and we don’t charge any hidden fees or penalties.
At lamna Botswana, we offer fast, discreet loans against the value of a wide range of assets, from luxury watches and jewellery to vehicles. For more information about using an asset to secure a short-term loan, contact us on 71 388 088 or simply complete and submit our online application form.