Loose Asset Bridging

When you need cash fast, you can use your loose assets or movable assets as security for short term asset loan finance. Funding assets using loans against assets, is a quick way to secure an asset loan.

Short term loans using loose assets i.e. non-property assets, such as gold, diamonds, cars, trucks, insurance policies (with savings), aeroplanes, excess stock, machinery and equipment, valued over
R 75 000 up to R 50 million (or more), can be secured for bridging finance and a loan against an asset, within a few days.

Loans against assets or asset based loan financing is a quick and secure way to finance assets. This is also known as asset backed lending or asset backed loans, which assist clients to extract equity from an asset and convert it to cash.

The asset is stored in the asset based lenders secure warehouse or vault for the duration of the loan.

Costs

10 % per month plus 1,5 % Initiation fee.

Duration

Average of 30 days and longer if you are able to service the interest at 10 % per month.

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Loan Conditions

Loan Term: 6 months ( 26 weeks )
Minimum Loan: R 50 000
Maximum Loan: R 1 500 000
Interest: 25 % for 6 months term
Business Age: Minimum 1 year old
Business Turnover: R 1 million per annum or more
Premises: If leased, then leased for minimum of 1 year. If owned, then at least one year old
Start Ups: NO START UP business applications will be considered

Documents required
  • Your ID
  • Proof of residence
  • Proof of employment/income
  • Proof of ownership.
  • Where vehicles are provided as security, the registration documents are required, and transfer of ownership papers signed by you (transfer would take place only in the event of a default).
  • Insurance Policies used as security need to be ceded to the lender.

Cost Schedule

  • Minimum Term – 3 months
  • Maximum Term – 12 months
  • Minimum APR – 120 %
  • Maximum APR – 150 %

Example :

  • Loan                        R 100 000
  • Term                        3 months
  • APR                          36 %
  • Repayment             R 136 000

Subject to lenders Terms and Conditions at time of quote.