Case study #1: Rhys
The need
Rhys, a homeowner from Auckland, needed to get some minor renovation work done on his house.
He reckoned $20,000 would be enough, so he started to consider his options.
One possibility was applying for a mortgage top up through his bank, but was going to take longer than a week to get sorted.
Even applying for a personal loan with the bank was going to take a few days, and he wanted to get onto it as soon as possible.
After learning about Loansmart’s super quick approval times, he applied for a loan with us.
The challenge
One of the most difficult things about renovating is you never quite know how much it’s going to cost.
Rhys’ estimate of $20,000 certainly seemed reasonable, but if you’ve ever watched a home renovation show on TV you’ll know that these things always seem to go over budget.
Once tradespeople get to work it’s almost inevitable that some complication will arise that requires more time and materials to fix.
With that in mind, the savvy Loansmart team came up with a great solution for Rhys.
The outcome
Anticipating that Rhys’ renovations would probably end up costing more than the initial $20,000 he estimated, Loansmart’s loan advisors secured his approval of an unsecured loan of up to $75,000.
By securing the largest amount possible, Rhys could go back and double check his estimates with his tradespeople to make sure he was going to have enough.
In the end, he reworked his figures and eventually decided to borrow $35,000.
This was a smart move, because it gave him wiggle room in case the renovations ended up costing more.
If that happened and he’d borrowed the smaller amount, he might have had to look for additional loans elsewhere.
This is a great example of why Loansmart is the smarter choice. Our loan advisors take the time to understand what our customers need and offer them clever solutions.
With same day payouts on lending up to $75,000 unsecured, Loansmart is the fast, low-cost option.
Case study #2: Donna
The need
Donna wanted to get a job that paid better, but to do that she needed to improve her qualifications.
She needed $20,000 to pay for a course that would further her education and improve her earning power.
The challenge
Donna applied for a loan through several providers but got declined because of past problems paying power and phone bills on time.
While these providers simply declined Donna outright, the friendly team at Loansmart took the time to listen to her story.
They found out that the unpaid bills were due to her living with an ex partner who was meant to pay the bills, but often didn’t.
This left her credit score in a bad state, making it very hard for her to borrow the money she so desperately needed.
The outcome
Loansmart was able to use Donna’s car as security and get her approval for the loan the same day she applied.
She was stoked that she could immediately enroll in her course and get started furthering her education.
With Loansmart, we talk with our clients so we can understand their situation, helping us provide them with better solutions.
There’s no one-size-fits-all approach to lending, which is why our solutions are tailored to suit our clients’ unique needs.
