Loans of the month – August 2023

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Case study #1: Clayton*

The Need

Getting the whānau together for a celebration is one of life’s great joys, but it can also be expensive.

Whether it’s a wedding or a family reunion, these events can quickly run into the thousands of dollars.

Having this amount of money on hand can be a big ask if you haven’t been planning ahead.

This is the situation Clayton was in when he came to Loansmart for a $5,000 loan for his family function.

The Challenge

A Loansmart advisor assessed Clayton’s situation and found he was behind in his mortgage payments, and had been working with his bank to refinance.

The bank was taking a long time to resolve this, leaving Clayton in a tricky situation because he urgently needed the $5,000 loan.

Fortunately for Clayton, quick solutions are Loansmart’s specialty.

The Solution

Loansmart consolidated his debts – including the mortgage arrears – into a new loan, allowing him to get up to date on his mortgage and also borrow the $5,000 he needed for his family function.

The advisor also set Clayton up with a mortgage broker who could help him refinance his home loan later in the year.

Clayton’s story is just one example of how Loansmart does more than just dish out loans: we care about our customers and we work hard to find fast solutions that work for them.

Case study #2: Kylee*

The Need

Kylee contacted Loansmart to apply for a top up to an existing $5,000 loan she took out through us in 2022.

The Challenge

In addition to the previous $5,000 loan, Kylee also had other debts she needed to pay. She was paying $271 per week on her loans.

The Solution

A Loansmart advisor looked at Kylee’s financial situation and saw an opportunity to save her money on her loan payments.

The advisor consolidated Kylee’s debts into one easy loan payment at an excellent interest rate of 14.95%, lower than her existing rates.

Kylee’s weekly loan repayments were now $189 per week, $82 less than she was paying before.

She also received an extra $4,000 cash.

Smart thinking from a Loansmart advisor saw Kylee not only receive the money she needed, but left her in a better financial position than before.

Tailored solutions with Loansmart

Do you have a tricky financial situation you need sorting out?

Talk to the experts at Loansmart. We specialise in finding quick, smart solutions to complex problems.

Get in touch to talk with one of our advisors today – it’s free to chat!

*Names changed to protect privacy.