Quick Loans in Botswana: Apply and Get Funds in 24 Hours

quick loans in botswana

At lamna, we offer quick loans in Botswana, in the form of loans against personal assets of value.

How fast you can access a loan

Typically, you can get a loan on the same day you apply.

Because the loans we offer are secured by assets, there’s no need for lengthy approval processes or background checks. This enables us to offer exceptionally fast loan payouts.

As soon as we conclude a loan agreement, we transfer funds into your account via EFT.

How our loans work

At lamna, we offer asset-based short-term loans.

In other words, you provide a fully paid-up asset of value as collateral for a loan. Once the loan is repaid, this asset is returned to you, in the same condition you left it.

Simply tell us a bit about an asset you’d like to secure a loan. You can do this through our call centre or online. We’ll make an initial loan offer straight away.

We’ll then arrange a meeting at our Gaborone branch. An independent appraiser will assess the asset and we’ll make a final loan offer.

If you choose to proceed, we’ll finalise the paperwork then and there and transfer the funds to your account.

When it makes sense to get a quick loan

A loan from lamna can alleviate financial pressure on a household or business, and help provide peace of mind.

However, the same principle applies as for any type of short-term loan. It’s a suitable choice provided you’ll be in a position to repay the funds over coming months.

For example, a loan could help tide a small business over a cash flow crisis while you’re waiting for a project to be completed or for late payments to come in.

A loan can also help you cover unexpected, once-off expenses, when you need to. Examples are medical costs, necessary repairs or funeral costs.

Other fast loan options in Botswana

There are other ways to get quick loans in Botswana. However, always deal only with reputable lenders.

Also, make sure you fully understand what you’re getting into. Clarify repayment terms, ask for details of any extra “administrative” or penalty charges and ask about the full, total cost of the loan. If terms aren’t clear or you get a bad feeling, walk away.

Pay-day loans are usually processed quickly but have to be paid back in one lump sum the following pay day. They’re a type of unsecured loan, so the interest charged is high and hefty penalties are incurred for late payment.

Personal bank loans are widely available. However, loans (especially for larger sums) can take weeks to process and come with strict qualifying criteria. Only permanently employed people with a favourable credit score and stable credit history should apply.

Credit cards can help you through a tight spot. That said, card applications can take a month or more to process. They’re heavily dependent on your financial track record. The only time a credit card is a good alternative is if you’re able to pay the full balance owing at the end of each month.

Advantages of a short-term loan from lamna

An asset-based loan from lamna is a straightforward, transparent type of loan. This is because the loan amount we offer depends purely on the assessed value of the asset – not on guesswork, credit ratings or other factors.

lamna is a trustworthy, properly accredited lender with physical branches in Gaborone and across South Africa.

A few other advantages:

  • no hidden fees or early settlement penalties
  • competitive interest rates and full compliance with national credit regulation
  • completely discreet – we don’t share information with third parties
  • no impact on your credit rating
  • loan amounts paid out fast (typically within 24 hours).

For more information about using an asset to secure a quick loan in Botswana, contact us on 71 388 088 or simply complete and submit our online application form.

Complete our Online Application Form