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  1. Bond Guy
    Bond Guy is offline Senior Member
    Join Date
    Oct 2007
    Posts
    179

    Loan Repayment in South Africa?

    My wife owens her own Hair Salon in Cape Towm S.A. We bought the hair salon
    For R115000.000, took a loan from ABSA through her mom, and we were suppose to pay R1500.00 per month
    Over 5 years but we were not preperd to pay that, so we paid R5000.00 a month and managed to finish the loan in
    One year. When we bought the Hair Salon we could only get R75000.00 so we had to put everything that we had
    Saved up into the salon, which affected our personal profile with the banks, so it is very hard for us to get a bond in
    South Africa.
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  2. Surety Queen
    Surety Queen is offline Surety Professional
    Join Date
    Oct 2007
    Posts
    558

    Other Contract Bonds

    Quote Originally Posted by Bond Guy
    My wife owens her own Hair Salon in Cape Towm S.A. We bought the hair salon
    For R115000.000, took a loan from ABSA through her mom, and we were suppose to pay R1500.00 per month
    Over 5 years but we were not preperd to pay that, so we paid R5000.00 a month and managed to finish the loan in
    One year. When we bought the Hair Salon we could only get R75000.00 so we had to put everything that we had
    Saved up into the salon, which affected our personal profile with the banks, so it is very hard for us to get a bond in
    South Africa.
    Not sure what you are asking here - but regardless, we can't help you with anything in South Africa.
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