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Spot a Loan in South Africa: how to Apply

By Oluchukwu Ikemefuna

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Since July 2014, Spot a Loan has been effectively assisting South Africans in obtaining financing.

For their “pre-approved” clients, they provide a special service that helps them locate only trustworthy credit providers and money lenders. Their high standard of service is open, honest, and equitable all the way through the application process. (Credit providers’ terms and conditions are applicable.)

Their goal is to provide credit to every South African through a simple, fast application procedure that may be completed online, through email, Whatsapp, or by fax. The application approach eliminates awkward questions and in-person interviews, saves time, and eliminates the headache of individually visiting the various credit providers.

In this article, we will examine the spot a loan, how to apply and get it in 2024. Let’s get right in.

see also: Shika Loan App: How to Apply

What is Spot a loan?

Spot A Loan is an African company that says it can assist its people with all of their financial issues. In order to assist South Africans in locating a trustworthy money lender or credit provider for themselves, it was started back in July 2014. Despite the company’s claims to alleviate all of your troubles, the reviews appear to indicate otherwise.

It feels like they bring another financial burden into your life. The application cost you paid will never be refunded, even though the process could be simple and quick. Additionally, when they follow up with you in two or three weeks, they will inform you that they were unable to locate a lender or creditor.

They receive an incredibly low rating of 1.5 out of 5. You won’t find a single satisfied customer if you ever try to locate reviews about this business. People are angry and advise against using them to get a loan or creditor.

Spot A Loan asserts that they locate creditors for all of their clients with a high success rate. The website’s slogan, “If we can’t find a loan, nobody can,” is humorous because it contradicts the service that the company offers. They have very negative ratings, and some have even called them scammers.

Is Spotloan and Spot a Loan the same?

Spotloan is frequently mistaken with Spot A Loan. There is a significant disparity in the quality of service offered by these two distinct businesses. BlueChip Financial is the owner of the company Spotloan.

They promise to give you the greatest loan experience of your life and have offices in several places. Spotloan is regarded as a crucial component of development and has an effect on the community. They assist those in need and have given over 1,385,000 loans to hundreds of deserving persons.

see also – Step by Step Guide to Applying for the UP Scholarship 2024

How to apply for a loan an the spot a loan app

To apply for a loan using an instant loan app, follow these steps:

1. Download the App

Start by downloading the On The Spot (OTS) loan app from your smartphone’s app store. Ensure you download the official app from a reputable source.

2. Create an Account

Once the app is installed, open it and create a user account. Provide the required information, including your name, email address, phone number, and any other details requested.

3. Complete Profile

After creating an account, complete your profile by providing additional personal and financial information as requested by the app. This information helps the lender assess your eligibility for a loan.

4. Select Loan Amount

Choose the loan amount you wish to apply for. Instant loan apps typically offer various loan amounts based on your eligibility and creditworthiness.

5. Set Loan Terms

Specify the loan repayment term, including the duration of the loan and the repayment frequency (e.g., weekly, bi-weekly, or monthly).

6. Upload Documents

Instant loan apps may require you to upload certain documents to verify your identity and income. Common documents include a valid ID (such as a driver’s license or passport), proof of income (such as pay stubs or bank statements), and proof of address.

7. Submit Application

Once you’ve provided all required information and documents, submit your loan application through the app. The app will typically process your application instantly or within a short period.

8. Review Loan Terms

After your application is processed, review the loan terms and conditions, including the interest rate, repayment schedule, and any applicable fees.

9. Accept Loan Offer

 If you’re satisfied with the loan terms, accept the loan offer through the app. By accepting the offer, you agree to the terms and conditions outlined by the lender.

10. Receive Funds

Upon acceptance, the loan amount will be disbursed directly to your bank account linked to the app. Depending on the lender and your bank’s processing time, funds may be available immediately or within a few hours.

It’s essential to carefully review the terms and conditions of the loan before accepting the offer. Additionally, ensure you borrow responsibly and only take out a loan amount that you can comfortably repay within the specified timeframe.

see also – Easy Loan: How to Easily Apply

Spot a loan Reviews/Experiences

Review 1:

After paying an application fee of R650 and failing to get him a lender, a disgruntled consumer recently complained about his experience online, branding them looters. He continued by saying he didn’t even want to give them a single star. In response, the Spot A Loan team justified their fee-based system by saying that it allows the application to be processed more thoroughly.

Review 2

In January 2023, a client complained that she had applied for a loan even though her family had opposed it. She made the R650 application fee payment. She had to wait for months because her request was not further processed.

Six months later, the Spot A Loan team took her to five other institutions. Six months had passed since her initial application; therefore, she was required to pay the amount once more.

This time, the application price was R750 because the business reviews its service fees every few months. She was unemployed and had to use all of her resources to obtain a loan, so they left her in a terrible situation. You’ll be stunned to learn that she was held accountable by the corporation for giving false information.

They gave her a pretty callous response, accusing her of failing to disclose her unemployment when she initially sought a loan.

Moreover, the company said that it was impossible to get her a loan because she is unemployed and unable to repay the loan payment. That is extremely frustrating and sad at the same time. No professional company will ever scam or loot their citizens by pretending to help them in the first place.

see also: Loan Calculator and How to Use it

These reviews or experiences are the most recent ones. Even if you go back to the days when Spot a Loan was started, it had the same kind of reviews. People were furious and extremely unhappy about the service and called them looters or scammers of all time.

Review 3

A consumer called Lucille complained about Spot A Loan three years ago, stating that the staff is good up until they receive the charge. They keep you waiting for months after you file, promising you calls from the creditors or lenders. They will inform you that your application has been denied after a while without giving you a good explanation.

As a result, there are hundreds of reviews on the internet for Spot A Loan’s services, and it’s rare to find a positive one. Customers only give them one rating, which is really dishonorable for a business that makes such grandiose claims in its advertising.

see also – How to Check Your JAMB Mock Result for 2024

Spot a loan contract Number

Contact them at Spot a Loan by dialing 0716386360 or emailing at info@spotaloan.co.za. They are here to assist you with your loan needs and inquiries. Whether you’re looking to apply for a loan, have questions about their services, or need assistance with an existing loan contract, our dedicated team is ready to help. 

At Spot a Loan, they prioritize customer satisfaction and strive to provide prompt and efficient service to all our clients. Feel free to reach out for any assistance you may require, and they’ll ensure that your concerns are addressed promptly and professionally. 

Your financial well-being is their top priority, and they’re committed to supporting you every step of the way. Contact Spot a Loan today for reliable and convenient loan solutions tailored to your needs.


What is spot a loan?

 Spot a Loan is a mobile application that facilitates quick and convenient access to short-term loans, typically available for immediate use.

How does spot a loan app work?

Users can apply for a loan through the app by providing the necessary information and documents. Once approved, funds are disbursed directly to the user’s bank account, usually within a short timeframe.

Who can apply for a loan through the spot a loan app?

Eligibility criteria vary among lenders, but generally, applicants must be of legal age, have a valid bank account, and meet income requirements.

What documents are required to apply for a loan through the spot a loan app?

Required documents typically include identification (e.g., driver’s license), proof of income (e.g., pay stubs or bank statements), and proof of address.

How long does it take to receive a loan decision through the spot a loan app?

Loan decisions are usually made instantly, or within a few minutes, after submitting the application through the spot a loan app.

What loan amounts are available through spot a loan app?

Loan amounts vary depending on the lender and the user’s creditworthiness, but generally range from a few hundred to several thousand dollars.

Is there a credit check required to apply for a loan through spot a loan app?

Some lenders may perform a soft credit check during the application process to assess creditworthiness, but this typically does not impact the user’s credit score.

What are the repayment terms for loans obtained through spot a loan app?

Repayment terms vary depending on the loan amount and lender, but loans obtained through the spot a loan app usually have short repayment periods ranging from a few weeks to a few months.


In conclusion, whether you need to apply for a loan, inquire about our services, or seek assistance with an existing contract, Spot a Loan is readily available to serve you. With our dedicated team, prompt response, and commitment to customer satisfaction, we prioritize your financial needs and aim to provide efficient and reliable solutions. 

Contact us at 0716386360 or email info@spotaloan.co.za for personalized assistance tailored to your requirements. At Spot a Loan, we’re here to support you every step of the way, ensuring a smooth and hassle-free experience with your loan needs.

Interact with us via our social media platforms:

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Twitter: @siliconafritech

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Oluwatobi Olowe
Oluwatobi Olowe

Tobi Olowe has over 3 years of experience as a content writer specializing in Tech discoveries, site optimization, building content that rank well and boosting overall site performance.

Articles: 101

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