Our goal at Dricks & Ach Micro Finance is to provide you with access to personal loans in the most convenient way possible to you.
We are here to help you with urgent and unexpected financial events. Whether you would like to consolidate your debt, or just want a quick personal loan to help with a financial emergency will tailor a solution to meet your need.
We offer predictable monthly payments, competitive loan cost and interest rates and even more so, we will consider your loan application even if your credit score is not perfect.
Can you get a loan if your credit score is low?
The easiest way for you to find out whether you will qualify or not, is to complete our online application form and let us assist you through the process. Applying for a loan with us won’t cost you anything, it is free, so even if you are unsuccessful the first time, try again within a month or so, as conditions change and applying next month could get you a better answer.
You can also walk into one of our branches where we will do the necessary checks and give you feedback whether you qualify or not.
Dricks & Ach Micro Finance supports responsible lending. This means that in processing your application for a loan, we will check your credit record and do an affordability assessment. It is not our intention to provide you with credit that will get you into a debt spiral, by just providing you with credit that you are unable to repay.
The checks we do as approved by the National Credit Regulator are to protect you as the consumer and to estimate your ability to repay the loan. We also protect ourselves as a registered financial service provider by not lending irresponsibly. We do not make promises that we cannot fullfill.
What to expect in the loan application process.
Once you have applied online, we will conduct a credit check as the first step of the application process. We will then contact you with feedback. If you qualify, you will be asked for your supporting documents, which can emailed to us or taken in person to one of our offices. After that a full affordability assessment and employment confirmation will be conducted by our credit assessment team. Should you pass these steps your loan will be approved and you will enter into a contract with us to repay the money on the terms agreed upon. The money will then be paid into your bank account.You will not need to come to our offices to pay cash as the repayment will be deducted from your account on the terms agreed to in the contract
What to consider when applying
- You need to be permanently employed and must have been with your current employer for at least 3 months prior to applying
- You need to have a bank account in your name into which your salary is paid.
- If you are under debt review, or administration or sequestration, we will not be able to assist you.
- If your credit score is not good, you may still apply but we do not guarantee that you application will be successful as your application will be assessed based on the reasons for a low credit score. Your credit record gives an indication of your previous credit behavior and is considered by credit providers when assessing your application.
Basic Criteria for Loan Application
- You have to be permanently employed for at least three (3) consecutive months at the same company.
- You have to be a South African citizen or have a legal resident status in South Africa.
- Your loan application will be subject to a credit check and an affordability assessment as required by the NCR (National Credit Regulator).
- You need to receive your salary into a valid South African Bank account, which is in the name of the applicant.
- You need to be between the ages of 18 – 60 years.
- We cannot assist you if you are under administration, debt review or sequestration.
- You need to be able to either fax or email the required documents to us when asked to do so.
- You need to earn more than R3,000.00 per month.
- You need to be able to afford the loan installment. This means that we will check your income against your expenses.
- We will not assist you if you are self-employed.
- By completing our online application form, Dricks & Ach Micro Finance does not guarantee that your application will be successful.
Required documents for a loan application
We need certain documents to verify your application. You need to supply these upon request once your pass the credit check and are eligible for a loan with you. Your loan application processing cannot be finalized without these documents.
- Latest 3 months bank statement for the account into which your salary is paid.
- A copy of your ID document
- Most recent 3 months’ pay slips.
- Proof of residential address.