The only time you should take out one loan while paying off another
We all know loans. You’ve probably taken one before or are paying for one now. However, most of the time when you have a loan that you are still repaying, you cannot take out a new one, as is the case with many financial institutions. Letshego, on the other hand, provides you with the opportunity to top up your loan to meet your urgent emerging financial needs.
Existing customers with loans may be eligible to top up their current loan based on their financial capacity.
Take the case of Amani for example; He is a high performing mid-level employee in an insurance company with a bright future ahead of him. He took out a personal loan from his bank to buy his first car. Knowing that he would receive his monthly salary, he believed that repaying the loan would not be a problem.
Unfortunately, the COVID 19 pandemic led to a downsizing of his office, which resulted in him losing his job and being left with a huge unpaid loan. Not one to stick around for long, Amani has since started her own consulting business while finally realizing her dream of starting her own farm. This story would have ended here, however, Amani’s new challenge was to raise capital for much-needed inputs for his farm, while repaying the loan he took out.
Amani would have been in a better situation if he had obtained his first loan from an institution offering an additional loan option. Letshego’s payday loan offers customers the convenience and benefit of getting a top-up loan when needed.
Why a Letshego top-up can save your life:
Respond to emergency needs with ease
The Letshego top-up is perfect for emergencies because you don’t need to start a new loan application. You can also provide minimal documentation and in some countries no documentation to complete your loan. This is because your existing information is used to process your second loan.
Letshego makes the process of disbursing your top-up funds much faster since you have already met the KYC requirements.
Easy to repay
To better manage your loan and ensure a good credit history, the payday loan takes the worry out of having to remember your monthly repayments. Your employer sends the reimbursement amount directly to Letshego on a monthly basis.
Visit www.letsgo.letshego.com to learn more about how to top up your existing loan and other great products designed to meet your financial needs!