Bonus Buddy / SanFen Financial Services loans- providing simple access to bonus loan products
About SanFen Financial Services loans
Bonus Buddy is a division of SanFen Financial Services and specialises in an online bonus loan product. Registered in 1997, Bonus Buddy is a registered credit provider and is a provider of unsecured loans.
Unsecured loans often provide some welcome relief when individuals need access to extra cash. Applying for these loans is generally easy, as you get access to the loans without a need to provide collateral. As long as you can prove that you will be able to afford to repay the loan and that you have a good credit record, Bonus Buddy may be the ideal solution for you.
Services provided by Bonus Buddy / SanFen Financial Services loans:
Bonus Buddy is a financial institution that specialises in providing unsecured loans that allow you to borrow within 2 months (60 days) of receiving your bonus.
To qualify for this type of loan, individuals need to be aged between 18 and 65 years and they must have a good credit profile.
You need to be able to guarantee that you will be getting a bonus at the end of the year and that you will ultimately be able to repay the loan.
Benefits of choosing Bonus Buddy:
Bonus Buddy is essentially a unique short term loan service, whereby you borrow on your annual bonus. You can apply for a bonus loan up to 2 months before your bonus month. It’s a bridging loan on your bonus. A bridge finance facility such as that offered by Bonus Buddy is a type of short term loan. It may be used by individuals, businesses or for mortgage reasons.
Essentially, it is a loan that is advanced in order to cover the period between the termination of one loan and the start of another. It is commonly used to complete a purchase (such as a new house) before the borrower receives payment. It may also be used to give individuals access to an advance of finance that they may be waiting for.
What are the advantages offered by bridging loans offered by Bonus Buddy?
- It is a short-term finance facility, so the loan is usually for 6 to 12 months. This way, you don’t have to worry about having to pay a loan off over a long period of time.
- It provides immediate cash flow
One the negative side, interest rates vary quite significantly and are usually dependent on the individual credit rating of the borrower. They do tend to be higher than other forms of financing. Rates typically increase over the term of the loan.
You have the benefit of being able to pay the loan back on your bonus month as a once-off payment.
Once you have been approved for a loan, you have the freedom to use the loan however you please. Whether you need to pay for study fees or if you’d like to use the money to renovate your home, the choice is yours. Bonus Buddy places no limitations on how you can use the loan.