RedDirect, an official credit provider, funds Udu loans, allowing the platform to function 24 hours a day, seven days a week.
Udu (pronounced “You Do”) is a self-service internet tool designed to expedite the processing of personal loan applications.
Udu loans range in size from R4 000 to R150 000 loans and are available with your choice of flexible payback options.
Udu is a Direct Axis business partner and their collaboration centers around loan administration.
Hoopla Loans on the other hand is one of the fastest growing online loan dealers in South Africa. They run their business entirely online, using sophisticated online loan application processes.
It’s vital to note that they are not a lender, but rather an internet broker who assists customers in applying for loans swiftly and securely using a single straightforward loan application form.
You may quickly access several different lenders in South Africa by filling out one application on their website. Their lending partners examine your loan application in seconds after you submit it on their website, boosting your chances of loan acceptance.
Udu Loans Benefits
Credibility
Because of their association with Direct Axis you can be assured that you will get reliable credit loans from a reputable company.
There are many fly by night lenders who offer unscrupulous loans that have a hefty interest, by with Udu you will get loans from a credible lender.
Higher Loan Amounts
Udu offers personal loans of up to R150 000 in cash which you can use for any of your financial obligations.
Flexible Repayment Terms
Udu Loans come with flexible repayment terms which will be tailored around your individual financial affordability.
Hoopla Loans Benefits
Higher Loan Approval Chance
With Hoopla you stand a higher chance of getting approved for personal loans because they will send your loan application to various lenders, thereby increasing your chances of getting approved.
Higher Loan Amounts
Because they work with various lending institutions, you have the ability to borrow higher loan amounts of up to R250 000 with favorable repayment terms which where negotiated on your behalf.
You don’t Pay Any Fees
Hoopla doesn’t charge you any fees for using their service which is great, they however earn a referral commission from the lender who ultimately approves your application, which works out great for all parties involved.
Conclusion
Both Udu and Hoopla offer benefits for loan seekers, but at the end of the day it will solely depend on your individual requirements and budget, as this will determine which one will be best suited for you.
