Sandton, Johannesburg, August 25 2020: Times are tough for a lot of people and businesses and for a lot of people that never before had any cash flow issues… times are going to get even tougher.
There are various ways to get cash inflows to help your situation until things rectify themselves. The best and cheapest way is obviously the bank. They have the means to always give you the best deal, as they borrow money from the Reserve bank a lot cheaper than any business like mine which deals with you the public.
Problem with banks is they are very fussy about who they chose to do business with. They expect they’re clients to have faultless credit score cards, and lots of stable income on a monthly basis. Which most people especially in these times DON’T! They also love it if you are an employee of a large blue-chip company. Which most people also AREN’T!
So, if your property is paid up and preferably in a company or Trusts name you do have options. A bank can keep you holding for months before they make a decision, and by that time the extreme need for it is often over! Of course, the one option is to sell the property. This is a good idea if you can find a buyer in this current market. It also might mean you have to sell at a mighty discount, which I’m sure you don’t want. Trouble is it might in the long run be the best way to get the most cash flow into your life.
If you don’t want to sell, there are companies like First Advance that will give you a loan against your property. The rates are dependent on the risk we are taking by giving you the loan. This means we need to assess what risk there is of you not paying us our interest every month. Once we establish this and we have all the relevant paperwork from you it’s a matter of days before you will get your loan. And this is what makes us an attractive option. It all happens quickly!!
You might be interested in asset lending or pawning of your assets.
Property is and always has been a stable investment. A property will always increase in value. Yes, it does have downswings when the markets are bad for selling and conversely good for buying, however you should always win on property in the long run. Which is why if you can, you should always hang on to your properties.
This Covid-19 Pandemic has brought a complete meltdown in the economy which means everyone needs to adjust in some or other way. A lot of people have been damaged economically by it, a few have grown and profited. Now is the time to assess what Covid is going to do to you in the future financially, and then be pro active about creating a plan to keep cash coming in on a monthly basis. If you need us for short term help (3 months to 1 year) we are here to help. If you are going to need cash for longer, we suggest you use us as a stopgap, which means you use us but are looking for cheaper options whilst you do.
Read more: How to pawn your car and still drive it
The trick is not to bury your head in the sand and do nothing. Things have changed and they won’t be getting back to normal for a long time or perhaps never. This change in the economy could be the jumpstart you need to change and prosper in this New economy.
Be positive and embrace the change. Look for an opportunity and go for it. We are all in the same boat. If you fail its not that you didn’t try. Don’t feel a failure. You’re a success for having tried!
So, get out there and make things happen for yourself. We, at First Advance are here for your short-term financing if you need us!
Video: How Property Loans can Ease Up Your Cashflow
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More Info on How Property Loans can Ease Up Your Cashflow here: https://firstadvance.co.za/
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