The following document sets out the minimum qualifications which must be met in order for Business Plan Creators (Pty) Ltd (“BPC”) to assist you (“the Applicant”) in sourcing potential finance from our 3rd party finance service provider (3PFSP). The 3PFSP, may or may not, upon successful vetting of this pre-qualification form, provide you with a formal loan application, which will be concluded between the Applicant and the 3 PFSP directly. Note that all of below minimum requirements may be amended by the 3PFSP, depending on the nature and structure of the Applicant’s loan request and application form.
By stating “Yes” next to the following fields, the Applicant acknowledges and confirms that your loan request shall conform to the following minimum requirements:
The borrowing entity is a juristic person with an annual turnover or asset value of more than R1 000 000.00 (One Million Rand)
The Applicant can provide security (in the form of fixed assets or other security approved at the sole discretion of 3PFSP)
The borrowing entity shall be able to pay, interest per month on the requested loan amount.
The borrowing entity has an easily understandable and viable solution to obtain and repay the loan amount, plus interest, plus costs to 3PFSP.
Further, and by clicking "Submit", the Applicant acknowledges the following:
1. 3PFSP shall be paid an additional administration fee (equal to one month’s interest) plus legal fees in relation to the drafting and attendance of the necessary legal documents plus any other additional costs relating to the loan transaction in addition to the Loan amount requested;
2. 3PFSP shall only advance the loan amount to the Applicant after the vesting of the necessary security provided by the Applicant, at the sole discretion of 3PFSP and not prior thereto;
3. As a minimum, all the directors of the borrowing entity shall sign surety on behalf of the borrowing entity;
4. The interest charged on the loan amount shall not be less than 3.5% per month if the exit exists on day one, otherwise at least 4% monthly.