Individual Loans - New Clients

• Small businesses and sole traders with proper business records, bills and receipts of sales and purchases, registration documents for business (if available) and a business plan, can apply for a first time individual loan.
• Clients must provide a Guarantor who is willing to co- sign on his/her behalf (The Guarantor must be employed, and is required to provide one passport sized photograph, two recent pay slips, a valid ID and copy of TRN, reference letter and job letter).
• First time individual borrowers requesting loan amount in excess of $30,000 must deposit savings of 15% and in excess of %50,000 must deposit savings of 25% of principal requested in order to qualify (conditions apply).

 Loan amount and loan terms

• Loans range from $10,000 to $500,000 per client or business.
• Loan terms vary between 12 and 104 weeks (2 years).

Loans are disbursed under a graduating system, where the first loan can start from $10,000 to $50,000 per person and can grow, as the client’s business grows. Payments can be made on a weekly or fortnightly basis and after the third loanon a monthly basis.

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