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The target group here is enterprising persons that reside in marginalized communities who either have good jobs outside the communities or do legitimate business within the communities such as shop-keepers and other enterprise.
Because of the volatile nature of these communities bailifing is not an option. However collection can be effected when borrowers become delinquent, usually by threat of reference to the Residence Magistrate Court as a claim on ALL the borrower and guarantors.
(a) Two co-borrowers (no collateral ) required must join on the loan with primary
(b) Four (4) reliable references required that when contracted they can offer a stamp of approval
as to the reputable and trustworthy character of the primary borrower and that of the
(c) Must demonstrate a feasible plan with ability to make payment
(d) Requires Head Office scrutiny and prior approval before a cheque is issued
(e) Bank Standing Order if applicants holds a bank account
borrower (guarantors) in these communities is mandatory before the grant of a
loan to ensure level of risk and prevent fraud.
go-ahead granted before granting.
deductions for the persons employed.
business and up to 10% of annual salary to applicants who are steadily employed
in a reputable and long standing company.
considered for up to 24 weeks; however the weekly interest must be paid
always on time.