Common Loan FAQs

 

Taking out a loan can feel overwhelming, and you may have some questions about the process and how to proceed. Knowing what to expect is the best first step to getting the loan you need. Here, Ayoba Loans answers a few common Loan FAQs to give you confidence and empower your loan application.

What types of loans does Ayoba Loans offer?

As loan experts dedicated to your financial well-being, we offer many different types of loans. A 30-day loan, 60 day loans and a 90-day loan are both considered payday loans, which can be repaid over one month or three months, depending on which you choose. We also offer blacklisted loans for individuals with poor credit, as well as personal loans, long-term loans, and consolidation loans.

What is a payday loan, and how does it work?

Payday loans are small, short-term loans meant to help you through a difficult month. Typically, payday loans are taken out over 30 days, but we also offer 90-day payday loans with an extended repayment plan, which is ideal for larger loan amounts that can’t be repaid in just one month. Payday loans can be helpful if you don’t want long-term credit commitments and are seeking short-term financial solutions.

How do I apply for a loan?

Applying for a loan with Ayoba Loans is easy and convenient. Our loan application process is completely online – all you need to do is complete our loan application form and submit it. We will then assess your affordability and get back to you as soon as possible.

Do you do credit checks?

As part of the loan application process, we request your permission to originate a credit report. This helps us to establish your credit score and ensure your creditworthiness. If you apply for a blacklisted loan, this is available as secure finance backed by collateral, which means we do not need to assess your credit report or do a credit check.

How much can I borrow?

There are many factors that affect the amount you can borrow. Before we approve your loan, we ensure that you can afford the repayments. The larger the loan, the higher the monthly repayments, and the better your income will need to be. If you have a tight budget, it is better to apply for a smaller loan that can be easily managed.

Why Ayoba Loans?

Ayoba Loans are expert lenders, with extensive experience and a qualified team. All our lenders are registered with the National Credit Regulator (NCR), meaning you are in good hands and can expect transparency and professionalism. We can also assist with ITC Clearance and Debt Review Removal.

Are you ready to apply for a loan with Ayoba Loans? Fill in your application to get started!