J'cans taking big loans to get big butts
With the demand for cosmetic surgeries, including Brazilian butt lifts, swelling in Jamaica, some persons are turning to loan agencies to help finance their procedures.
CEO of Sprint Financial Services, Christopher Barrett, said that for the past three years, his company has been offering up to $300,000 in loans to persons who would like to have alterations done to their bodies.
“For these cosmetic surgery loans they get a discount off the interest rate ... they have roughly about eight months to pay back. They get one per cent off our normal rate and that's standard for them,” he told THE WEEKEND STAR.
Barrett said that his company decided to offer the loan because of the popularity of cosmetic surgeries, plus they are always coming up with unique types of loans such as party or recreation loans.
With 15 to 20 persons coming in to apply for a cosmetic loan monthly, he said it is one of their most highly sought-after loans.
While he noted that both males and females aged between 25 and 45 come in to borrow money, some persons tend to keep the type of surgery confidential, while others will share what they want the money for.
“The majority of persons who come in, it is not necessarily for major cosmetic surgery; it is for things that are relatively small like liposuction, some people doing things like contouring,” Barrett explained.
However, he said before persons are granted loans, their risk tolerance is assessed to determine whether or not they can pay back the loan and in some cases, they recommend medical facilities where the person can get a discount.
Meanwhile, plastic surgeon Dr Jan Hochtritt of Prosurgicare said most of his patients do not use the loan option to pay.
Brazilian butt lifts, tummy tucks, and breast lifts are the most popular surgeries that patients request. He said he consults the bank to determine whether a client would be able to cover the cost.
Hochtritt, who said he has consultation with at least eight persons weekly, and does about two Brazilian butt lifts, which cost US$4,500 to $5,000 for the cheapest option, noted that the balance must be paid before the surgery is done.
“No doctor will be able to provide a post operation payment plan because the risk is too high even if the patient wants to pay. It could be that something happens to the person and those are debts we cannot have,” he explained.