M
Loans
Micro-Lender
Small lenders who give you quick cash, usually R500 to R8,000, and usually at prices that make you wince. They exist for people the banks say no to. Legal ones are NCR-registered. Dodgy ones are just criminals with WhatsApp.
Usage Examples
"Zanele needed R2,000 for emergency school fees before her grant came through. A micro-lender got her the cash the same day. Interest was hectic, but she paid it back in two weeks and moved on."
"Always check the NCR register before you borrow from a micro-lender. Sipho ignored that step and borrowed from a guy in Soweto who turned out to be unregistered. When things went wrong, he had zero protection."
"Micro-lenders approve faster than banks because they do less checking, but you'll pay for that speed with higher interest. Choose one only if you're desperate."