Note: Yes, all mandates for a loan must be authorised before the loan will be granted.

• Click on the ‘Apply now!’ button which will take you to our product page. Select your product and Apply!
• For new customers:
• You will be prompted to enter your personal details once you've entered your Identity Number.
• For existing customers:
• You will be prompted for your password.
• Follow the online application process.
• The application process is entirely self-service.

We have carefully considered your financial position and your ability to meet any additional loan repayments, based on your income, monthly credit obligations and living expenses. Our assessment shows that you may struggle to pay any additional credit instalment/s and therefore your application has been declined.

We will always act responsibly and never offer you more credit than you can afford to comfortably repay. Taking out additional credit should only result in positive outcomes, not a prolonged financial burden.

We suggest waiting another 30 days before applying again. Multiple inquiries at the Credit Bureau in a brief period of time may negatively impact your credit score.

We pay you as soon as your application is approved and all the DebiCheck mandate(s) have been authorised by you, but it can take up to 48hrs for the funds to reflect in your bank account, depending on your bank

• It all depends on how far you are in the debt review process.

  We can assist under the below provisions:

  Exceptions and Conditions

  Debt Consolidation Loan:

  In some cases, a micro lender might provide a consolidation loan to help the client manage their existing debt more effectively. This loan would be used to pay off other debts, simplifying the repayment process.

  Approval from Debt Counsellor:

  Any loan provided to a client under debt review must be approved by the debt counsellor overseeing the client's debt review process. The debt counsellor will assess whether the loan is in the client's best interest and aligns with their repayment plan.

  Strict Guidelines:

  The loan must adhere to strict guidelines to ensure it does not exacerbate the client's financial situation. This includes ensuring the loan terms are manageable within the client's budget and that the client is not overburdened with additional debt.

  Short-Term Emergency Loans:

  Some micro lenders may offer short-term emergency loans for unexpected expenses, such as medical bills or urgent repairs. These loans are typically small and have a clear repayment plan to avoid further financial strain.

  Compliance with Regulations:

  The micro lender must comply with all relevant regulations and ensure that the loan does not violate any terms of the debt review process.

Under the National Credit Act (NCA) regulations in South Africa, being blacklisted does not automatically disqualify someone from applying for a micro loan. However, credit providers are required to conduct a thorough assessment of the applicant's creditworthiness before granting any loan. This includes reviewing the applicant's credit history, income, and overall financial situation to ensure that they can afford the loan and are not over-indebted.

• At Presto Loans, we are committed to responsible lending practices that prioritize our customers' financial well-being. Our approach to responsible lending is built on the principles of integrity, transparency, and fairness. Our key steps:

   

  Thorough Credit Assessment: Before approving any loan application, we conduct a comprehensive credit assessment to evaluate the applicant's creditworthiness. This includes reviewing their credit history, income, and overall financial situation to ensure they can afford the loan and are not over-indebted.

   

  Affordability Checks: We perform affordability checks to determine whether the applicant can comfortably meet the repayment obligations without compromising their financial stability. This helps us prevent over-indebtedness and ensure that our customers can manage their loans responsibly.

   

  Transparent Communication: We believe in clear and transparent communication with our customers. We provide detailed information about the loan terms, interest rates, fees, and repayment schedules, ensuring that our customers fully understand their obligations before entering into a loan agreement.

   

  Ethical Practices: Our lending practices are guided by ethical principles. We do not engage in predatory lending or exploitative practices. Instead, we focus on providing credit that is affordable, sustainable, and suitable for our customers' needs.

   

  Compliance with Regulations: Presto Loans adheres to all relevant regulations and guidelines set forth by the National Credit Regulator (NCR) and other regulatory bodies. We ensure that our lending practices comply with the National Credit Act (NCA) and other applicable laws to protect our customers' rights and interests.

The approval process for a micro loan is typically quick, with many applications being processed within 24 to 48 hours. However, the exact time frame may vary depending on the lender and the completeness of your application.

Note: Yes, all mandates for a loan must be authorised before the loan will be granted.

• Click on the "Apply now!" button which will take you to our product page. Select your package and Apply!
• For new customers:
• You will be prompted to enter your personal details once you've entered your Identity Number.
• For existing customers:
• You will be prompted for your password.
• Follow the online application process.
• The application process is entirely self-service.

We have carefully considered your financial position and your ability to meet any additional loan repayments, based on your income, monthly credit obligations and living expenses. Our assessment shows that you may struggle to pay any additional credit instalment/s and therefore your application has been declined.

We will always act responsibly and never offer you more credit than you can afford to comfortably repay. Taking out additional credit should only result in positive outcomes, not a prolonged financial burden.

We suggest waiting another 30 days before applying again. Multiple inquiries at the Credit Bureau in a brief period of time may negatively impact your credit score.

We pay you as soon as your application is approved and all the DebiCheck mandate(s) have been authorised by you, but it can take up to 48hrs for the funds to reflect in your bank account, depending on your bank

• It all depends on how far you are in the debt review process.

  We can assist under the below provisions:

  Exceptions and Conditions

  Debt Consolidation Loan:

  In some cases, a micro lender might provide a consolidation loan to help the client manage their existing debt more effectively. This loan would be used to pay off other debts, simplifying the repayment process.

  Approval from Debt Counsellor:

  Any loan provided to a client under debt review must be approved by the debt counsellor overseeing the client's debt review process. The debt counsellor will assess whether the loan is in the client's best interest and aligns with their repayment plan.

  Strict Guidelines:

  The loan must adhere to strict guidelines to ensure it does not exacerbate the client's financial situation. This includes ensuring the loan terms are manageable within the client's budget and that the client is not overburdened with additional debt.

  Short-Term Emergency Loans:

  Some micro lenders may offer short-term emergency loans for unexpected expenses, such as medical bills or urgent repairs. These loans are typically small and have a clear repayment plan to avoid further financial strain.

  Compliance with Regulations:

  The micro lender must comply with all relevant regulations and ensure that the loan does not violate any terms of the debt review process.

Under the National Credit Act (NCA) regulations in South Africa, being blacklisted does not automatically disqualify someone from applying for a micro loan. However, credit providers are required to conduct a thorough assessment of the applicant's creditworthiness before granting any loan. This includes reviewing the applicant's credit history, income, and overall financial situation to ensure that they can afford the loan and are not over-indebted.

• At Presto Loans, we are committed to responsible lending practices that prioritize our customers' financial well-being. Our approach to responsible lending is built on the principles of integrity, transparency, and fairness. Our key steps:

   

  Thorough Credit Assessment: Before approving any loan application, we conduct a comprehensive credit assessment to evaluate the applicant's creditworthiness. This includes reviewing their credit history, income, and overall financial situation to ensure they can afford the loan and are not over-indebted.

   

  Affordability Checks: We perform affordability checks to determine whether the applicant can comfortably meet the repayment obligations without compromising their financial stability. This helps us prevent over-indebtedness and ensure that our customers can manage their loans responsibly.

   

  Transparent Communication: We believe in clear and transparent communication with our customers. We provide detailed information about the loan terms, interest rates, fees, and repayment schedules, ensuring that our customers fully understand their obligations before entering into a loan agreement.

   

  Ethical Practices: Our lending practices are guided by ethical principles. We do not engage in predatory lending or exploitative practices. Instead, we focus on providing credit that is affordable, sustainable, and suitable for our customers' needs.

   

  Compliance with Regulations: Presto Loans adheres to all relevant regulations and guidelines set forth by the National Credit Regulator (NCR) and other regulatory bodies. We ensure that our lending practices comply with the National Credit Act (NCA) and other applicable laws to protect our customers' rights and interests.

The approval process for a micro loan is typically quick, with many applications being processed within 24 to 48 hours. However, the exact time frame may vary depending on the lender and the completeness of your application.