
Raising business funding to stimulate growth, take advantage of a once-off opportunity or cover a payment shortfall isn’t as difficult as it might seem.
LoanAgainst offers cash loans against paid-off company cars, utility vehicles, bakkies and trucks in Johannesburg, and elsewhere in South Africa.
The average turnaround time, from application to funds in the bank, is less than 24 hours.
Why get a loan against a business vehicle in Johannesburg?
A loan against a business vehicle is a quick, easy and confidential way to raise working capital. It allows for the monetisation of a key business asset, but only over the short term.
Once the loan is repaid, the vehicle is reclaimed and can be used countless times to secure funding in the future.
Loans against business vehicles in Johannesburg ensure small to medium enterprises always have access to finance to get started, drive expansion and boost profitability.
What are the advantages of borrowing against a business vehicle?
Borrowing money against a business vehicle is a type of secured loan. The risk is covered by the collateral.
As a result, no credit checks or affordability assessments are conducted. No information is shared with credit agencies.
Short-term business loans of this type have no impact whatsoever on a company’s credit record.
In the case of a loan default, the vehicle is sold and the proceeds used to cover the debt. The rest of the business assets are exempt from claims.
How loans against business vehicles work
Funds are released against the appraised resale value of the vehicle.
The car, bakkie, van or truck is held as collateral in a secure storage facility in Johannesburg.
Once the loan is repaid in full, and according to the terms of the signed agreement, the vehicle is returned to the registered owner.
Practicalities of getting a loan against a business vehicle in Johannesburg
Getting a vehicle-backed business loan through LoanAgainst is as easy as completing an online application form.
An initial offer of an instant business loan is conveyed to you, which you can accept or reject.
If the offer is satisfactory, the vehicle is physically examined by our in-house appraisal expert and the deal is formalised.
The vehicle, the original registration papers and copies of the applicant’s ID and proof of address are handed over.
The funds are transferred into the business bank account.
Where to get a loan against a business vehicle in Johannesburg
LoanAgainst has two easily accessible branches in Johannesburg – LoanAgainst Sandton and LoanAgainst Florida.
Both are contactable via a centralised telephone number, on 079 726 4690. Vehicle appraisals are handled by appointment.
Why use LoanAgainst to provide short-term funding for your business
LoanAgainst is an established institution with branches all over South Africa. These are some of the reasons you should choose us to get a loan against a business vehicle in Johannesburg:
- NCR compliant
- registered financial services provider
- established business
- competitive interest rates
- no hidden fees or early cancellation penalties
- fast and discreet loans.
For more information about how to get a loan against a business vehicle in Johannesburg, contact us on 079 726 4690 or simply submit our online application form.