Learn How to Apply for the Hoopla Personal Loans

What to know before applying?

Hoopla is a technology company that offers a good variety of personal loans with amounts up to R250,000 to the public. 

Hoopla is a financial company that operates as a credit brokerage service, connecting the South African public with available lenders in the country. 

In this regard, Hoopla has connections with banks, credit unions, and other private lenders to offer accessible personal loan terms. 

Overall, Hoopla’s main personal loan plan offers amounts up to R250,000, with repayment terms ranging from 3 to 60 months. However, the final decision depends on the chosen lender, as each one may set its own rules. 

Thus, even through other formats, it is possible to request amounts starting from R100.

When it comes to interest rates, they also vary depending on the lender and the conditions, with rates going up to the NCA limit, along with an origination fee and a monthly maintenance fee. 

Hoopla’s personal loans can be used for a variety of needs, such as paying for a wedding, renovating a home, buying a car, or even funding your next vacation. 

In this sense, the money doesn’t come directly from Hoopla but rather from one of the brand’s partner lenders. Therefore, the company’s service is precisely to make this connection between the two parties. 

In this way, Hoopla Loans is a completely free service, meaning you don’t pay anything to get a credit quote. The money will be instantly deposited into your bank account.

Thus, one of Hoopla’s great benefits is its quick and easy activation, with a simple application form and fast review, along with the ability to deposit the money on the same business day. 

Learn more about Hoopla. 

Who can Apply?

Hoopla clearly defines the general conditions for accessing its personal loan plans, such as:

• Being a citizen over 18 years old
• Having a permanent job with a monthly income of at least R4,000
• Not being under debt review
• Being a citizen or resident of South Africa with a valid ID number

The exact conditions will depend on each lender, but Hoopla provides a general overview. Here are some documents you may need to present:

• A copy of your South African ID
• Proof of residence
• Proof of income with recent payslips

How do I Apply for the Hoopla Personal Loans?

To apply for financial assistance, you can access Hoopla’s website and look for the application form. 

When selecting the option to get a quote, you need to provide the amount you wish to borrow.

Additionally, you’ll need to submit:

• Full name, email, date of birth, ID number, cell phone number, complete address with postal code, employment status (permanent, temporary, contract, or self-employed), and employer details.

You’ll also need to present your monthly income, including bank account details and post-tax income.

After submitting your information, Hoopla will conduct a thorough credit check and send you a response. 

If you have any questions, you can contact Hoopla’s customer service. 

More Details

Personal loans are just one of Hoopla’s services, as the credit brokerage company offers a wide variety of other formats. 

In this regard, here are some of the services offered by Hoopla:

• Payday loans
• Short-term loans
• Payday Western loans
• Bad credit loans
• Debt consolidation loans
• Urgent online cash loans

Hoopla promises a high approval rate, especially when you meet the key conditions requested by the major partner lenders in the country.

This includes credit options for people with poor credit histories, although the loan terms may come with higher interest rates.

This way, Hoopla provides good options to assist at any stage of life.

Want to learn another option?

Hippo is a company that offers partnerships with South African lenders, similar to Hoopla, providing personal loan options of up to R350,000. 

In this regard, Hippo offers repayment terms of up to 72 months, the convenience of an online application, an intuitive platform, and quick decisions; see how to apply. 

Written by

Gabriel Gonçalves