Little Loans Payday Loans Full Review
Little Payday Loans provides personal loans ranging up to R8,000, featuring diverse repayment choices and an expedited application procedure.
Get Fast Loans up to R8,000 with Same-Day Transfers
Little Loans provides fast loans of up to R8,000 through a panel of lenders. Once your credit is approved, you can expect same-day deposits into your account.
It’s important to note that Little Loans acts as a credit broker, not a direct credit provider. Their role is to connect borrowers with potential lenders who can offer suitable loans based on their own terms and conditions.
If you’re interested in learning more about this service, continue reading below.
Who is Payday Little Loans?
Payday Little Loans is a South African credit broker that was established in 2014. The company’s main objective is to connect individuals seeking fast loans with available lenders who can offer personalized terms and conditions.
The aim of Payday Little Loans is to simplify the loan application process and save borrowers time that would otherwise be spent searching for the best lender option. They provide their service through a convenient and user-friendly platform without charging any fees.
According to their website, Payday Little Loans has processed over 100,000 loan requests, with an average of 2,500 requests processed daily. The company has also received a 4.8-star rating on social media platforms based on customer feedback.
How Do Payday Little Loans Work?
As a credit broker, Payday Little Loans receives the loan request from the customer and presents it to their panel of lenders, which includes over 10 options. Little Loans offers fast loans ranging from R500 to R8,000, similar to other loan companies.
To apply for a loan, borrowers need to complete the application form on the Little Loans website.
It’s important to note that Little Loans’ application form is also linked to Myloan.co.za, another company within the group that offers loans up to R350,000. Loan requests up to R8,000 are sent to Little Loans’ platform, while higher loan amounts are directed to Myloan.
Payday Little Loans’ loans can be used for various purposes, such as medical emergencies, vehicle purchases, and home renovations. The loan application form asks for the reason for the loan to better match borrowers with suitable lenders.
Little Loans does not charge any fees for their brokerage service. Once the credit assessment is completed, borrowers will receive a loan proposal from a partner lender. The fees and interest rates associated with the loan will depend on the specific lending company.
Benefits of Applying for a Loan at Payday Little Loans
- Variety of lenders: Little Loans offers a wide panel of lenders, providing borrowers with options to choose from that cater to their specific needs.
- Fast processing: Little Loans promises a quick response regarding loan possibilities. In many cases, the money can be deposited into the borrower’s account on the same day as approval.
- No paperwork: Little Loans aims to make the loan application process hassle-free. By completing a simple application form on their platform, borrowers can receive their funds swiftly, provided all the information is correctly provided.
Possible Drawbacks
While being a loan broker is advantageous for some borrowers, it may be a drawback for others. This is because applicants won’t know the exact terms of the loan until they are contacted by the partner lender, rather than directly by Little Loans.
However, Payday Little Loans ensures that all partner lenders are verified and comply with the credit regulations set by the NCR, the governing body for the lending sector in South Africa.
How to Apply for a Loan at Payday Little Loans
If you believe that Little Loans’ fast loan financial services can help with your emergency needs, you can learn more about the application process on their website.
