In South Africa, private borrowing consists of an alternative financing solution set up by a South African private lender to serve the needs of a South African consumer who can not provide proof of income.
In South Africa, the private loan has the purpose to open access to fresh money to a borrower who has problems obtaining financing from South African banks because of a bad credit score.
In South Africa, private financing is obtained by applying a loan to authorized South African peer-to-peer loan platforms or by searching potential South African private lenders on the internet.
In South Africa, all private lenders are to be assessed for their reliability because of the growing number of frauds in the context applying through this special type of financing.
PRIVATE LENDING IN SOUTH-AFRICA