BORROW 500, IN AN INSTANT, FROM MCDAAN MICROFINANCE SOLUTIONS

TERMS AND CONDITIONS

Loan Amount

ü  Loan is up to a maximum of £500

ü  Actual amount given is upon lender’s discretion

Loan Term

ü  Maximum loan period of ONE CALENDAR MONTH.

ü  Loan period may be extended for another month if the borrower requests at least 3 WORKING DAYS before the loan repayment date, but any interest accrued must be paid before a loan extension is accepted.

ü  Loan extensions can be up to a maximum of 2 MONTHLY TERMS after which the total balance remaining must be paid in full.

ü  The lender reserves the right to refuse any requests for loan extension and in which case the full amount due must be paid at the end of the loan term.

Interest

ü  The loan incurs a monthly interest 14% in london

ü  The principle and the interest accrued must be paid in full within 3 DAYS of the end of the loan term.

ü  Failure to make full repayment within the stipulated time frame will result into further default compound interest of 6% of the outstanding balance accruing weekly.

REQUIREMENTS

The following documents (at least one from each category) must be provided before the loan can be processed. These documents must be originals and valid.

Proof of identity

ü  Passport

ü  UK drivers’ licence

Proof of address (dated within 3months)

ü  Utility bill

ü  Correspondence letter from a government agency

Proof of income for the last 3months

ü  Payslips

ü  Bank statements