Mashonisa Loans Whatsapp Number – people who find themselves in a corner financially often look for short cuts to getting cash much quicker. Mashonisa Whatsap number provides a quicker and easier way to communicate with the lender. Most if not all mashonisa lenders are not registered with the NCR.
Mashonisa Loans Whatsapp Number
Some lenders understand that people who are looking for quick cash loans are always in a hurry. Whatsapp offers a better and easier platform to communicate. You can even exchange required documents via whatsapp.
When applying for a personal loan via whatsapp, you will need the same documents that are commonly needed when applying for a loan. These are often your ID document, proof of income (payslip) and your 3 months bank statement.
Why Are Mashonisa Loans Sharks On Whatsapp?
WhatsApp provides a better platform for both mashonisa and borrowers to communicate. This communication done on WhatsApp is right in your finger tips.
Many loan sharks have their numbers readily available in order to spread the word of mouth to their prospective clients. This saves time for customers to avoid travelling or setting up meetings before their know whether they qualify for a loan. WhatsApp allows exchange of documents should the lender need them. These are for verification and sometime filing purposes
Mashonisa whatsapp number always has an agent or agents who are dedicated to attend to all queries. You are able to see if your inquiry has reached the lender. You are always able to see if it has been read.
Whatsapp platform offers those who wish to apply for loans the following:
Growth of mashonisas in South Africa
There’s no shortage of mashonisas in South Africa. Conservative estimates put the number at 40,000 active mashonisas. In Khayelitsha alone, there are 1,350 mashonisas in operation serving approximately 135,000 households.
Research suggests that up to 80% of South Africans have used a mashonisa. It’s easy to see why.
Despite the lack of regulation, mashonisas fill a gap in the lending market with very small loans that aren’t available from banks and other short-term lenders.
It would be easy to assume mashonisas are always unscrupulous loans sharks preying on desperate people. In fact, many borrowers prefer to use them.
The convenience and ubiquity of these informal loans means they’re growing in popularity. As a result, meaningful regulation is virtually impossible.
It’s not only poor people who take loans from mashonisas in South Africa. As far back as 2017, a Mail & Guardian article noted how middle-class South Africans were turning to mashonisas. An informal lender in Sandton noted that he “often finds himself lending money to people who earn quadruple or seven times his salary”.
What’s driving the popularity of mashonisas
There are a few factors driving the popularity of mashonisas in South Africa:
Convenience – borrowing at your finger tips as you simply use your gadget to communicate
Speed – responses are much quicker and you get your answer while you are busy with your activities
No credit checks – mashonisa do not always need to perform credit checks when you apply
Simplicity – the process is straight forward