Pawning a Company Car in Gaborone

With Lamna, pawning a company car in Gaborone is a fast, straightforward and low-risk way to secure funds for your business.

What does pawning a company vehicle involve?

The pawn process is similar to that of a secured loan. In this instance, a company vehicle is the asset used as collateral to back the funding.

During the repayment period, the company car is insured and safely stored at our cost. Once the loan and interest are settled in full, the vehicle is returned to you.

The funding is fully secured by the vehicle, so there’s no risk to any other company asset or account, even if the business defaults on repayments.

Examples of how our loans help Gaborone businesses

Over the years, we have helped several SMEs in Gaborone achieve their dreams. Here’s a snapshot of a few recent successes attributed to our loans.

Kgosie, an owner of a rapidly growing retail outlet, handed over a delivery van as security for a short-term loan. The funding was used to expand operations to a second location closer to his target market – and it proved to be a masterstroke.

An early-stage tech company leveraged the company car as a debt consolidation tool. It used the borrowed funds to settle more expensive debt, and helped save the business money on interest and fees.

A small-time furniture business was battling to stay afloat due to outdated manufacturing methods. The owner raised finance against the company bakkie. It transitioned to a streamlined and efficient production process, more than trebling monthly turnover.

When to consider pawning a company car

If your business needs a cash injection over the short-term, pawning a company car is a viable option.

The only caveat is the borrowed funds must be used to drive business growth and not cover day to day costs. That is an unsustainable way of running a business.

You must be in a position to repay the loan in the months ahead. In the worst case scenario, we would be forced to sell the company vehicle to recover the losses incurred.

The importance of using a trusted lender

Lamna is a registered finance provider with an unblemished track record. We have provided asset-based loans to individuals and businesses since 2016.

Here’s why you should use Lamna to fund your business in Gaborone:

• fair and transparent loan terms
• accredited and legally compliant
• no hidden fees or early settlement penalties
• vehicles insured and stored at our cost
• zero impact on credit rating
• branches across South Africa and in London, UK.

Next steps: how to apply online

Acquiring business funding through Lamna is as easy as completing our online application form. Alternatively, you can call us on 71 388 088 and we’ll talk you through the process.

Once we have the details of the company car you intend using as collateral, we’ll make an initial offer of funding.

We then set up an appointment to have the vehicle appraised and to complete all the relevant paperwork.

You hand the car to us and we transfer the funds into the company bank account. You can start growing your business right away.