
About
We are always thinking about how we offer more options to our clients. As home is a place where we all feel safe, we believe that you should have access to solutions that are data intelligent driven and are also risk profile dependent to ensure that you have resources to help you along.
What
We offer short term loans on easy terms to qualifying landlords and tenants to assist with immediate cash needs based on a lease agreement in place. The loans we offer are on:
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The rental income that is due to you as a Landlord; OR
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The rent that you have to pay as a Tenant.
The minimum & maximum loan limits are fixed at R2,500 and R 50,000 respectively. The lessees can be of any category (Residential and Commercial) including individuals. The application of the loan can be considered for different purposes, i.e. for all lawful economic activities; also, for personal needs (medical, repairs, school fees etc.) of either lessors (landlord) and or lease (tenant); however, this facility should not be extended to any speculative/investment purposes.
Who
For property owners: we offer a short-term cash advance against the future monthly rental income to be generated from a property that is currently being leased.
For tenants: We offer a short-term cash advance to assist with paying your monthly rental to a landlord based on the level of affordability.
When
The loan is paid out to you within 4 hours following approval following a credit risk assessment and signing of the terms of the loan agreement.
How
Eligibility:
Property Owner
Landlords: (Including residential flat/houses leased to tenants.) You must the sole owner of property (Commercial/Residential) and you must have leased the property to tenants.
Tenant
A qualifying person/company who has a lease agreement for Commercial/Residential propert
Quantum of Finance:
Property Owner: we offer up to 85% of the gross monthly rental income for residual/effective per lease period.
Tenant: we offer up to 75% of the monthly rental /lease amount payable to the landlord.
Repayment & Finance Charges:
Loan is repayable up to 3 months and the applicable finance and administration charges per month
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For loans from R1.00 up to R5,000 : 10.5% + R119,90 administration fees
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For loans from R5,001 up to R10,000 : 9.25% + R129,90 administration fees
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For loans from R10,001 up to R20,000 : 8.50% + R169,90 administration fees
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For loans from R20,001 up to R50,000 : 7.50% + R239,90 administration fees
Moratorium:
No moratorium is allowed. Repayment will start from the next month of disbursement
Requirements:
Property Owner
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Proof of ownership: title deeds, mortgage bond agreement
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Signed of Lease agreement with tenant
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Copy of Identity Document -Property owner
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Copy of Identity Document -Tenant
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Proof of address
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3 months Bank Statements
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Completed Debit order instruction for collection of loan advanced
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Completed authorization for credit check
Tenant
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Signed of Lease agreement with property owner
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Copy of Identity Document -Property owner
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Copy of Identity Document -Tenant
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Proof of address
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3 months Bank Statements
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Proof of employment
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3 months latest payslips
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Completed Debit order instruction for collection of loan advanced
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Completed authorisation for credit check