Izwe Loans is a micro financial services provider which was founded in 2004. The famed firm is a specialist finance company that provides personal or micro loans to South Africans who are employed; the firm gives out unsecured, salary based loans on a fixed-term basis.
What it means is that clients are given loans based on their current salary and no collateral is attached to the loan. As such, these loans should be repaid within the agreed period. The method used by Izwe Loans is done in such a way that both parties are not disadvantaged and money can be given and repaid to the satisfaction and ability of both.
With Izwe Loans, clients can apply for loans not exceeding amounts of R50 000 and clients have a maximum of 60 months to repay the loan. The unsecured loans are issued and managed in accordance with the guidelines laid out by the national Credit Regulator (NCR) and the Financial Services Board (FSB).
The firm’s application process is customized to meet a client’s needs; the funds will be deposited into the client’s bank account if the loan has been approved.
The firm has so far provided R1 billion to more than 150 000 satisfied clients.
Izwe Loans has over thirty branches in Zambia, Ghana and of course South Africa.