L Financial Terms

Loan Application

Loans

You want a loan, so you ask for one. The lender needs proof you're not a fraud, that you actually earn, and that you won't blow the money on nonsense....

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Loan Shark (Mashonisa)

General

Illegal money lender — unregistered, operates in shadows, charges insane interest (sometimes 50% per month). In SA we call them mashonisas. They're cr...

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Loan Term

Loans

How long you've got to pay back the loan — measured in months. Longer terms mean smaller monthly payments but way more total interest. A R50,000 loan ...

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