Rosabon Financial Service has launched a new fi nancial solution, Asset Cash Loan (ACL), which aimed at increasing people’s access to credit facilities without losing their assets. Th e new product allows customers to pledge their cars as collateral to access a loan facility without actually losing them. A statement by the company said once a customer applies for and gets a loan based on the value of the individual’s car, the customer would automatically regains access to the required capital that was once tied up in owning that car, whilst continuing to use the car all through the loan tenor. However, the product comes with lower interest rates than the regular loans and is customized to suit the needs of individual customers, just like its other loan solutions, it is quick and aff ordable, the fi rm said.
Communications Manager, Kehinde Ruth Onasoga, said the fi rm resolved to off er the loan solution because of its desire to assist many secure facilities without being subjected to undue hassle. “Many a times, the need for money arises without warning, especially when revenue expectations fail to turn out as initially planned. Unfortunately, expenses keep piling and some need to be attended to urgently. “To meet these pressing fi nancial needs crying for attention, many people resort to taking out loans while using some of their asset such as cars, as collateral and in an event of a bad loan, there is a possibility of losing these assets. “With the new Asset Cash Loan, ACL, from Rosabon Financial Services, this is an entirely avoidable situation as the ACL was introduced to increase people’s access to credit facilities without losing their assets,” she said stressing once all documentations are approved, the customer gets credited within 48 hours.
