How it works

APPLICATION

To apply for a short-term loan or Pay day advance, complete our online application form (See if you qualify). We are time conscious and we know that our fast tracked form helps you to maximize your time. To avoid unnecessary delays, check that all your details are correct before clicking send application

CHECKS AND DOCUMENTS

We’ll run your application info; perform a credit check at the relevant credit bureau(s), taking into account your circumstances and not just your credit rating. In most cases, we’ll give you a decision within minutes and let you know how much you can borrow. First time clients can borrow up to R4000 and returning clients up to R8000. Upon decision we will need your documents in order to process final Loan Agreement.

APPROVAL

We verify your income and monthly expenses then generate a Loan Agreement. Your approved loan amount will be transferred directly into your account once the properly signed documentation is received and the debit order mandate approved. This will be 2hrs or less after approved application.

REPAYMENTS:

We will collect repayment from your account as per the signed agreement of the total cost. . If your bank rejects our collection attempt, we will make every effort to contact you as soon as possible. We often try to fix issues the same day, but your bank can charge you for not having enough funds in your account.

Renewals:

When you renew a loan, it will be seen as a new loan and therefore the same interest and rates will apply as for the new loans.

Non-payment:

Non-payment of your account will result in a R50 service fee and 5% interest added every month. If you fail to make payment for two months, your account will be handed over to an external debt collection company.

Not repaying your loan on time will decrease your credit rating and might make it difficult to qualify for finance at other credit providers in future

How it works

Volkarna Financial Services is here to make your loan application quick and easy