In Tembisa, loan sharks are often known as “mashonisas”. They typically operate out of small shops or homes, and they may advertise their services through word-of-mouth or flyers. Mashonisas typically offer loans of up to R1,000, and they may charge interest rates of up to 50% per month.
Loan Sharks In Tembisa
Mashonisa is not that hard to find in Tembisa. After all, townships have a higher concentration of small-scale lenders. Simply make sure you work with a reliable and legitimate person.
Borrowing money from a loan shark can be a very risky proposition. The high interest rates and fees can make it difficult to repay the loan, and loan sharks may use aggressive or threatening tactics to collect their debts.
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List of Loan Sharks In Tembisa
1. Motemo Cash Loans Shark:
Loans are available from R200 to R15,000 at Motemo Cash Loans. To lower the danger of default, they cooperate with outside guarantors. Contact them if you’re looking for quick loans without security.
Motemo Cash Loans Shark Contact Details:
+27 11 027 1790
25 Kakongo Street, Leboeng, Tembisa.
2. Mapaya Investments Loan Sharks:
Loan amounts offered by Mapaya range from R150 to R10,000. They don’t demand income documentation or a credit check. All you need to do is apply online. A bank statement and an ID card are the required documents. To apply click the link below:
Mapaya Investments Loan Sharks Contact Details:
Telephone Number :
+2711 051 5986
430 Rev RTJ Namane St, Office Five, Third floor, Summore Building Tlamatlama,Tembisa .
3.Finapital Cash Loans Shark:
This mashonisa offers quick cash loans secured by your car. There is no need for a credit check, and they authorise in a matter of minutes. Please be aware that each quote will only cost you R400.
Finapital Cash Loans Shark Contact Details:
+27 730 920 946
Corner Angle Fish Rd, Ebony Park, Tembisa, 1685.
4. PIP Cash Loan Mashonisa in Tembisa:
PIP provides loans ranging from $300 to $45,000. You do not need to be employed, and the repayment schedule is flexible.
PIP Cash Loan Mashonisa in Tembisa Contact Details:
+27 61 313 8973
1747 BP Teanong, 537 Reverend R.T.J. Namane Drive, Tlamatlama, Tembisa.
5. Zikalala financial Providings Loan Shark:
Loans are available at Zikalala Mashonisa in Tembisa starting at R300. Within an hour of receiving your application, they usually award loans. Your ID is the only thing required.
Zikalala financial Providings Loan Shark Contact Details:
+27 763 434 920
6775 Winnie Mandela zone two, Riverside Street,Tembisa.
6. Xikovela Financial Loan Shark:
People with bad credit histories can get quick cash loans from Xikovela Financial Mashonisa in Tembisa. They are open from 8 a.m. to 13 p.m. and from 15 p.m. to 18 p.m. on Monday through Friday. You can anticipate receiving your money in an hour if accepted.
Xikovela Financial Loan Shark Contact Details:
+27 78 545 0154
R Mabena Street, Tembisa.
7. Cash Crusaders Tembisa Loan Shark:
This shop serves as both a lender and a merchant of used goods. The proprietor has more than 30 years of experience as a licenced moneylender in South Africa. Loans ranging from R1,000 to R70,000 are available.
Cash Crusaders Tembisa Loan Shark Contact Details:
+27 67 782 0575
Shop number 26, Mega Mart, Corner Olifantsfontein and Algeria Road, Tswelopele, Tembisa.
Frequently Asked Questions:
What are loan sharks, and how do they operate in Tembisa?
Loan sharks are illegal lenders who offer loans with extremely high interest rates and often engage in unethical collection practices. In Tembisa, they target vulnerable individuals in need of quick cash and operate outside of the formal financial system.
Are loan sharks legal in Tembisa?
No, loan sharks are not legal in Tembisa or anywhere in South Africa. Lending money without a licence and charging excessive interest rates is illegal and subject to penalties.
What risks are associated with borrowing from loan sharks in Tembisa?
Borrowing from loan sharks in Tembisa can lead to a cycle of debt due to the exorbitant interest rates. Additionally, borrowers may face intimidation, harassment, or physical harm if they fail to repay the loan.
How can I identify a loan shark in Tembisa?
Loan sharks often operate discreetly and may not provide proper documentation. They avoid regulatory oversight. Signs of a loan shark may include a lack of a licence, exorbitant interest rates, and the use of threats and intimidation.
What should I do if I’ve borrowed from a loan shark in Tembisa?
Seek legal advice immediately. Reporting loan sharks to local authorities is essential to protect your rights and hold illegal lenders accountable.
Loan sharks operating in Tembisa pose a notable danger to residents seeking swift financial relief. These unlicensed lenders employ predatory practices by extending loans with exorbitant interest rates and resorting to intimidating collection methods. Protecting the welfare of the Tembisa community requires unwavering vigilance, financial literacy, and a commitment to exploring lawful financial alternatives.