Loans Against Business Vehicles in Gaborone

Loans against business vehicles in Gaborone can provide businesses with the working capital they need.

This capital may help businesses leverage important opportunities for business growth. It can also help businesses stay afloat in the event of temporary cash-flow problems.

2022 challenges for Gaborone businesses

2022 is looking positive in terms of economic growth in Botswana. Nonetheless, many businesses are still struggling in the aftermath of lockdowns and travel restrictions. Last year, the arrival of the new coronavirus variant took a toll on the economic recovery seen in earlier months.

There are 6,234 businesses registered in Gaborone. Consistent cash flow is a challenge for most of them. Even well-established businesses find themselves struggling to cover costs under certain circumstances.

Why small businesses in Gaborone should consider asset-based loans

When a small business encounters cash-flow issues, a short-term loan is the quickest and easiest way to bridge the financial gap.

With Lamna, businesses can bypass complicated bank loans and use a business-owned asset, such as a vehicle, to secure a loan.

These are some of the reasons a small business might need an asset-based loan:

• unexpected expenses such as equipment repairs
• sudden increase in the cost of stock or materials
• reduced turnover due to supply chain delays
• to complete a project in order to secure the final payment from the client
• to cover a large tax payment that’s due immediately
• temporary cash-flow issues.

What are asset-based loans against business vehicles?

Asset-based loans use a business asset like a paid-off business vehicle to secure a short-term loan. This means the loan amount is based on the resale value of the car and not on the business’ value or turnover.

Once the loan and the interest are repaid, the vehicle is returned and the business retains ownership of it. This makes an asset-based loan a low-risk option because it can’t affect the business’ other assets or its credit rating.

How the application process works

To apply for a loan against a business vehicle, start your application process online. Based on the information you provide, we’ll give you a provisional quote on the loan. If you’re happy to go ahead, you’ll bring the vehicle to us for an appraisal.

Based on this appraisal, we give you a final loan offer. If you’re happy with the offer, you sign the loan agreement, provide supporting documents and surrender the vehicle to us for safe and secure storage.

Interest is payable monthly and the short-term loan is repayable at the end of the agreed loan term. The vehicle remains in storage until the loan and interest are repaid in full.

Other benefits of loans against business vehicles

Asset-based loans have several benefits that make them preferable to traditional bank loans, especially for small businesses.

• no credit checks
• no unnecessary paperwork
• fast access to funds
• transparent and discreet
• no hidden fees or penalties
• competitive interest rates.

Where to find loans against business vehicles in Gaborone

Our Gaborone branch is located in Carramba Business Park. To organise an appraisal or to find out more about loans against business vehicles in Gaborone, you can contact this branch directly on 71 388 088. Alternatively, email info@lamna.co.bw for more info.

To ensure the best possible loan offer, ensure your vehicle is clean, in good condition and well maintained. You must have all the correct licencing paperwork. A full service history and a spare key can both improve the loan offer.

Why consider a business loan from Lamna Botswana

Lamna Botswana is an established and trusted financial services provider, with physical branches across South Africa and in Gaborone.

We offer fast, discreet loans against vehicles, including delivery vans, cars, bakkies, trucks and motorcycles. We also offer loans against other assets of value.

For more information about our loans against business vehicles in Gaborone, contact us online or call us on 71 388 088.