The governance of credit providers is fundamental to the stage of compliance with regulatory requirements. The development from the micro lending industry is largely due to credit providers actively targeting unsecured personal loans like a business growth opportunity. The regulations outlined by the National Credit Act are made to protect consumer rights and also to make sure that lenders abide to create guidelines to enforce responsible lending minimizing poor credit. The micro lending industry is continuing to grow at an accelerated rate in Nigeria, following the introduction of the legislation. Many consumers are confronted with challenging financial circumstances which sometimes results in the necessity to look for other causes of finance. A growing number are actually turning to micro lenders as their first option. A company entity which strives to provide services to consumers who fall into this category is Bathokoa Finance Services.
Bathokoa Finance Services is really a financial company having a unique micro loan structure. This structure involves a complete affordability assessment, national loans register and quotations in addition to NCA compliance.
Bathokoa provides loans in 3 categories:
The first offers clients loans of up to R100000 with an 84 month repayment period. To potentially qualify for this loan, applicants ought to provide an I.D, payslip and 2months' bank statements. Another loan option gives clients up to 5 years to repay financing amount of between R1000 and R50000. An I.D, payslip and 2 months' bank statements ought to be submitted. The third loan offering gives clients Three years to pay off a loan of between R1000 and R100000. A payslip, a South African identity document and 3 months' bank statements are needed for application.
Bathokoa Financial Services provides loan options that are structured around client needs and responsible lending policies. Interested individuals can use online or call. Bathokoa could be contacted on: 012771 2967.
