There are many ways to get a loan if you don’t have bad credit, but if you are blacklisted it gets a little more complicated. There are hundreds of lenders out there that you can choose from when you need to borrow money, and you can even apply online for many of them, whether you need the money for your business or personal reasons. If you have a clean finance record and you aren’t in any bad debt, you can contact one of the banks in your area to apply for finance, but if you are blacklisted or have any other type of bad credit, you should avoid the banks as they will deny your application for a loan without thinking twice.
The best way for you to apply for a loan is to look for the legit and well known lenders, as the other ways to get a loan include applying at a lender that is advertised in a newspaper that you have never heard of before. These are the companies that claim to “approve your loan in five minutes” and the likes. In some cases this statement might be true, but it is more advisable to use a bank or a lender that is well known or recommended to you by someone you know and trust. For a business loan, it is likely to be quite a large amount, so go to the places that borrow money solely for business purposes.
Once you have the name of the companies you can use, you can see if they are listed on the Internet and then you should be able to apply online as this is always the easiest thing to do. Many places offer personal loans from any amount right up to R100 000, and as appealing as this sounds, be sure to first ask them what their interest rates are before you accept anything. Choose one of the many ways to get a loan and do what you have to to apply, which is normally submitting documents and signing papers.