The consequences for blacklisted individuals are heavy and severe. These individuals are denied credit by traditional banking institutions due to their bad credit, which often leaves them in the lurch. Banks don’t want to borrow to people they view as high risk clients. These individuals now have alternate options to traditional lending institutions. One such firm is Global Finance. This is a firm that has a core focus on servicing the needs of this market. This micro lending firm was established in 2000 with the core mandate of being a specialist in providing loans for blacklisted people or those with bad credit.
Global Finance offers unsecured personal loans of up to R100 000, with repayment extended to 60 months. There is no security needed and there are no annual fees. Global Finance endorses responsible lending, so individuals’ ability to repay the loan amount will be assessed. This loan could be useful for paying for studies, buying furniture, debt consolidation, starting a business etc. With Global Finance, individuals are given another chance, and their individual needs are considered. Individuals considered should not be under debt counselling or administration. To qualify, a client needs to be older than 20 years, earn a regular income of at least R1500 per month, be permanently employed and show proof of income. He/she also needs to own a South African identity document and have a bank account with debit order facilities. Serving clients nationwide, Global Finance has options for online applications or via telephone. Prospective clients should simply call 021 981 9754 or 074 187 7812.