Marlin Credit: Approval Guide and Review

If you are expecting a lump sum payout in the near future, but need cash urgently, you may be interested in Marlin Credit. Marlin Credit is a national bridging finance company that specializes in providing bridging loans for people awaiting lump sum payouts.

Bridging finance is a short-term loan that bridges the gap between your current financial situation and your future payout. It can help you improve your cash flow, settle your debts, and maintain your standard of living while you wait for your payout.

Marlin Credit can assist you with various types of payouts, such as pension, provident, package, property, divorce, death, disability, retirement annuity, investment, or policy payouts . Whether you are retiring, selling your property, getting divorced, or receiving an insurance claim, Marlin Credit can offer you a bridging loan to ease your financial burden.

How to Apply for a Bridging Loan from Marlin Credit?

Applying for a bridging loan from Marlin Credit is simple and easy. You just need to follow these 6 steps:

Apply online: Fill out the online application form on the Marlin Credit website and submit it.

Receive a call from Marlin Credit: A friendly consultant from Marlin Credit will call you to discuss your bridging loan needs and requirements.

Submit your documents: You will need to provide some documents to verify your identity, income, and payout details. You can upload them online or send them via email, fax, or WhatsApp.

Undergo a credit check and verification: Marlin Credit will conduct a credit check and verify your information to assess your eligibility and affordability for the bridging loan.

Sign and approve the loan agreement: Once your bridging loan is approved, you will receive a loan agreement that outlines the terms and conditions of the loan. You will need to sign and approve it online or via email.

Get your money: After you sign and approve the loan agreement, Marlin Credit will transfer the money to your bank account within 24 hours.

By applying for a bridging loan from Marlin Credit, you can enjoy the following benefits:

No upfront fees: Marlin Credit does not charge any application, initiation, or administration fees for the bridging loan.

Low interest rates: Marlin Credit offers competitive interest rates that are lower than most banks and other lenders.

Quick and easy: Marlin Credit has a fast and simple online application process that can be completed in minutes. You can also get your money within 24 hours of approval.

Tailor-made solutions: Marlin Credit can customize your bridging loan according to your specific needs and preferences. You can choose the loan amount, repayment period, and repayment method that suit you best.

National offices and support: Marlin Credit has offices and consultants across the country who can assist you with your bridging loan. You can also contact them via phone, email, or WhatsApp for any queries or feedback.

Over 60 years of financial experience: Marlin Credit has been in the financial industry since 1962 and has helped thousands of South Africans with their bridging finance needs. You can trust Marlin Credit to provide you with professional and reliable service.

What are the fees and interest rates for a bridging loan from Marlin Credit?

Marlin Credit charges interest and fees for the bridging loan as prescribed by the National Credit Act and regulated by the National Credit Regulator. The interest and fees depend on the type, amount, and duration of the bridging loan.

Here is an example of the interest and fees for a short-term transaction and an unsecured transaction:

Short-term transaction: This is a bridging loan for a payout that is expected within 6 months, such as a pension, provident, or package payout. The interest rate for this type of loan is 5% per month and the service fee is R69 per month. For example, if you borrow R10,000 for 3 months, you will pay back R11,707, which includes R1,500 interest and R207 service fee.

Unsecured transaction: This is a bridging loan for a payout that is not guaranteed or secured, such as a divorce, death, disability, retirement annuity, investment, or policy payout. The interest rate for this type of loan is 27.75% per annum and the service fee is R69 per month. For example, if you borrow R10,000 for 12 months, you will pay back R13,230, which includes R2,775 interest and R828 service fee.

Please note that these are only illustrative examples and the actual interest and fees may vary depending on your individual circumstances. For more information on the fees and interest rates for your specific bridging loan, please contact Marlin Credit.

Marlin Credit Services Complaints

This company does have complaints listed on various sites such as HelloPeter and other established complaint sites.

Most people have complaints regarding poor customer service, the delayed or missing referral fees, the multiple debit orders, and the rude staff.

It is therefore important you do your due diligence and research.

How Does Marlin Credit Verify My Creditworthiness

They conduct a credit check and verification to assess your eligibility and affordability for the bridging loan. They will need some documents from you, such as your ID, bank statements, proof of income, and payout details.

They will also check your credit history, income, expenses, and debt obligations. They will then determine the amount and duration of the bridging loan that you can afford to repay. If you have any questions about the credit check and verification process.