How Crester Credit Helps Kiwis
During the tough times the country has recently experienced, it’s not only been the big banks keeping New Zealanders afloat. Loan companies have a crucial place in the community as well. In a National Business Review article, it stated that Dion Jones of Instant Finance thought that this should be a consideration for the incoming government this year. Here at Crester Credit, we completely agree.
The government needs to start looking past banks as the main support for people who need a loan. With loans starting from interest rates as low as 13.95%, our rates are certainly competitive with the large banks. Not only that, but we charge far less than many lending companies. With a headline rate of 29.05%, Instant Finance is not alone in its high lending rates. QuickCash Finance offers loans with interest rates set at 26% per annum. Payday Advance, meanwhile, offers loans at a rate of a whopping 44.95% per annum.
The Need for Loans
Unfortunately, the Covid-19 crisis has caused cash flow issues for many companies nationwide. With the entertainment and hospitality industry hit especially hard by level 4 and social distancing rules, this has caused lay-offs for many people.
Due to the unforeseen nature of these events, many people have lost their previously secure jobs. With no savings and no equity, taking out a loan provides a way to cover costs in the short-term until people get back on their feet. A loan can offer the security of money in the bank and food in the fridge for New Zealanders who would otherwise not have these privileges.
We support the need for more financial literacy programs in the community. This will enable people to make better decisions when it comes to money and debt. However, some circumstances, such as redundancy, are unavoidable.
Why People Turn to Crester
While banks are often the go-to when someone needs a loan, it’s common for people to be turned away. Banks are known for their inflexible lending criteria based on a set of rules, not on your unique situation. So, you could be turned away because you have lost your job, but that’s why you need money in the first place! Loaning to those without income is seen as a risk, but how else are these people supposed to get back on their feet? Turning to one of those high-interest loan companies is certainly not the answer.
That’s where Crester Credit comes in. We offer a viable alternative to a bank loan with our competitive interest rates and willingness to lend to people who just need someone to give them a chance. We base our loans on your situation and whether we think you can repay a loan, and don’t make hard and fast rules for lending, as each person is different.
Getting a loan approved by a bank can take up to a month. From the time you contact them to ask about a loan, submit the paperwork, and then the long time they take to make a decision, it all adds up. If you’re suffering because you’ve lost income, your car has broken down, or your child needs new shoes, you need the money much sooner than that.
Crester Credit understands the urgency of your situation. So, we aim to have the money in your account within 24 hours of approving your loan.
Rather than aiming to keep you in a cycle of debt like many credit companies do, Crester Credit is dedicated to the practice of responsible lending. We commit to only lending to those who we believe can realistically pay back the loan in the given timeframe. Rather than encouraging you to consistently depend on a loan, we aim to help you out when you’re in a tricky situation and get you back on your feet.
Part of this includes transparency around our fees. From the start of the process, we are upfront about what we charge our customers, which consists of not only the interest but the total amount we charge. This includes the fees associated with setting up credit with us. Don’t get caught out by hidden costs, as you will know about these well in advance. If you want to see the total amount you will repay when you borrow from us, take a look at our loan calculator.
Get in Touch
Contact Crester Credit to speak to one of our friendly and experienced team members. They will listen to your situation and help you to decide which type of loan is right for you. Rather than treating you like just another number; they will make a decision based on your circumstances and not an arbitrary set of rules.
So, if you’re struggling to get food on the table or are facing unexpected bills, get in touch today. A loan could be just the thing you need to stay afloat in these tough times.
by Ash Horton
September 27, 2020