Loans for bad credit applicants in South Africa and those who may have been blacklisted by a company or financial service provider are available although it has to be said, much easier to get if a person has some kind of property to sign as security against the money to be borrowed. You see once you have been blacklisted or it is on your credit record that you are a slow or bad payer after borrowing money from a company it marks you as a high risk to lend cash to.
This may seem unfair in some cases and loans for bad credit applicants in South Africa may seem impossible to get for some but it usually depends on the financial company you are dealing with and just how poor your credit rating really is. If you are listed as a slow payer and only from one company in the past then there is a good chance you will have no problems in getting finance from most registered financial service providers in the country. If your credit rating is very poor there is still a possibility that you can borrow money from a credit provider but then it will need to be secured.
Secured finance is simply having to sign a valuable item against the cash borrowed. You are basically agreeing that the lender can take your house or valuable car or whatever it is you use in the event that you end up not being able to pay the borrowed money back to them. It can be a high risk, especially if you have a family to think about and should only be considered if you are absolutely 100% certain that you will be able to pay back the company that lends you the cash. If you have been denied an application by banks in South Africa such as ABSA, FNB, Nedbank or Standard bank then do not lose heart, there is still a possibility if you really need it that you can get loans for bad credit from another financial service provider even if you are blacklisted.