Hoopla Loans Review | Borrowing Money in South Africa

Online platforms like Hoopla Loans are gaining popularity in an already indebted South Africa. The reason: traditional moneylenders tend to reject applications from clients with bad credit scores or inconsistent repayment behaviours. As a result, many South Africans in need of financial help are turning to alternative FinTech companies.

Hoopla Loans: A Safe and Easy Loan Service

As we move through this time of crisis, we are reminded of a famous Winston Churchill quote: “If you’re going through hell, keep moving.” While South Africa is not fighting a physical war, it is battling the COVID-19 crisis with full force. 

Hoopla Loans
Hoopla Loans (hooplaloans.co.za) is an online loan matching service that provides safe, secure, and easy loan options.


The pandemic has highlighted the country´s biggest problem, its job market, pushing many families into further financial difficulty. However, companies like Hoopla Loans are willing to give South Africans with bad credit score a deserved second chance.

Hoopla Loans | Overview

Hoopla Loans (hooplaloans.co.za) is an online loan matching service that provides safe, secure, and easy loan options. Unlike other websites, they genuinely compare different creditors and match the applicants with the platforms that are likely to approve their requests. The company helps South Africans obtain fast loans that range from R100 to R250,000. 

Customers can choose between different products, such as payday loans (R100-R8,000), personal loans (R8,001-R20,000), and long term loans (R20,001 – R250,000). The interest rates charged start as low as 20% APR. 

However, the APR will be determined by the client’s credit profile and personal circumstances. Some of the lenders the company works with may add an initiation fee to the loan amount, but never beforehand. In most cases, Hoopla’s associated creditors will allow the customers to settle their debt early with a small or no penalty charge.

About Hoopla Loans

Hoopla serves as a bridge between the customer and the lender. This means they are not creditors, but loan matching brokers. They will present you with different payday loan providers, so the interest rate will depend on your selection. However, it will not change along the loan term. The company also works under the NCA control, so the interest rates are guaranteed to be fair. 

Hoopla Loans, registered with the National Credit Regulator, is 100% legit. Your details will only be passed on to trusted, South African licensed creditors who trade ethically and comply with the regulations. In addition, your personal details will remain private and safe.

Hoopla Loans: Am I Eligible?

In order to qualify for one of their products, applicants must be South African citizens over 18 years of age. To be eligible, they also need to be permanently employed and earn a monthly income greater than R4000. 

. Additionally, the company will ask for information about their:

  • Identity: full name, ID, address, phone number, etc. 
  • Profession: type of job, earning, workplace, etc.

Clients will also be asked about the amount of money they need to borrow. Then, the company will run a credit check on them. The good news is that, according to their website, 84% of their applicants get approved each day.

A Fast Application Process

The application process is done 100% online, and it takes less than 5 minutes. In most cases, customers get an instant response from one or more of their lenders or associated loan brokers. Generally, clients receive an email, SMS or a telephone call within 1- 4 hours (during office hours).

Hoopla: Reviews

The company is incredibly well rated online. Their average rating is 4.8 out of 5 on Google. Nevertheless, we encourage all South Africans who are interested in taking out a loan to run a background check on the final creditor they will be borrowing from, as Hoopla only serves as a platform between the client and the lender. 

Borrowing from Alternative Creditors

The pandemic has taken its toll on the economy of the nation. Many South Africans are not eligible to borrow money from traditional moneylenders, which has led to the mushrooming of alternative creditors. However, not all of them are legit. Thanks to platforms like Hoopla, clients can take out payday loans safely. Their offices are located in Century City (Cape Town), and clients can contact them at 087 724 6110 from Monday to Friday during regular business hours. 

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