A personal loan is a great way to solve short and long term cash flow problems. Personal loans can help consolidate debt, pay bills and/or can help you out of an unexpected financial dilemma. With any agreement however, you need to understand exactly what you are signing up for. At Linsa Finance, one of their many missions is to provide you, their customer(s) with full transparency on all aspects of your loan.

Whether small or large, we have put together a summary of tips so that you will have a clearer understanding of what to do when taking out a personal loan.

Check your credit rating

Unfortunately a lot of time and energy can be wasted if you do not know or even have an idea about what your credit rating is. In some cases this is the deciding factor for obtaining a loan. So check out yours early so there are no surprises!actor for obtaining a loan. So check out yours early so there are no surprises!


Know the risks

Borrowing anything off anyone can be risky, that’s why at Linsa Finance they make sure you can realistically afford the repayments. Linsa Finance will assess from your current bank statements the ability to prepare a straightforward budget for you.


First and foremost they have your best interests at heart, thus keeping you in a positive financial position. If by doing the budget Linsa Finance finds that your repayments just don’t quite fit, they are happy to negotiate and talk through an amount that you can afford.

Check the fine print

When signing any documents, Linsa Finance will allow you the time and space to be able to read through anything and everything before signing. It is important to the team that they are open and upfront with you about the agreement, and that you fully understand what your responsibilities are.


Know Your Loan Repayment Period

At Linsa Finance, they offer repayment terms of up to three months.

Secured/ Guarantor/ Unsecured Security


As with all things, the need to have security against your loan will depend purely on your individual circumstances. At Linsa Finance, they will lend money on motor vehicles. However, with any security put forward as an option, there must not be any outstanding monies owing on that item.


Guarantor Security

If you are unable to provide your own security, but are able to arrange a Guarantor who has suitable security, then they will consider this as an option on your application.



In particular situations, Linsa Finance has the ability to offer you an unsecured loan up to the value of $1000.

Decide on what you can afford

If the purpose of obtaining a loan is to help consolidate debt or to buy something new, make sure that you have room in your current budget to afford the likely repayments. If there is not enough room in your budget then your finances can quickly spiral out of control, leaving you in a rather sticky situation!

The team at Linsa Finance can coach you through this process so you are aware of what you should be borrowing.


Loan Repayment Protection

At Linsa Finance, as part of their Loan Agreements, they offer their clients a comprehensive Repayment Waiver Plan. This means that in the event of an accident, sickness or death the payments to your loan will be covered and that you will not be charged penalties. For the small extra amount that it may cost, this will save you a lot of stress and extra worry if something untoward should happen in the future.

Be Ready

At Linsa Finance, they will do their utmost to help you with your financial situation. Therefore prior to your one-on-one interview make sure you gather the following documentation:

  • Photo ID (e.g. passport or drivers licence)
  • Proof of your address
  • Current bank statements for the last three months

If you do not have a form of photo identification issued by the NZ Government, please provide your birth certificate and one other form of photo I.D. e.g. University I.D card.

Having these items ready and waiting when applying for your loan will ensure that the process runs smoothly and quickly as possible for you.

Applying for a loan can be a stressful situation, but having a better understanding of all the ‘bells and whistles’ of what a personal loan involves, will help you breeze through the process in no time!


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