About Personal Loans

Loans are available for many worthwhile purposes including debt consolidation, education, vacations and home repairs.

We offer loans for various purposes including home repairs, education and medical expenses, debt consolidation.

  • Term: For a period between 12 and 60 months
  • These can be done both on a secured and unsecured basis.
  • Unsecured Loans are for a maximum of 3 times the client’s basic salary
  • Loans can also be secured by our Fixed Deposit Instruments

*subject to normal lending criteria

Loan Application Processes

Here are the simple loan process steps for an Unsecured Loan:

 

  1. The customer requests or views information on accessing the loan facility either by calling, visiting a Massy Finance GFC Ltd Location or via the website and an application form can be completed online or at the branch with a Loan Officer.
  2. The customer will then submit the relevant documents to be verified.
  3. The loan application process is completed via an interview with the customer and the application form is signed.
  4. For retail applications, the process should take no more than 48 hours.
  5. If the loan is approved, a Promissory Note Agreement and Salary Deduction form is prepared which and is signed by the customer.
  6. Closing documents are also prepared and passed to the relevant department to ensure all policies were adhered to.
  7. The Loan Officer presents the cheque to the customer.

Requirements

All Retail clients earn Massy Points on the interest portion of the installment paid on time.

REQUIREMENTS FOR ALL PERSONAL LOANS:

  • Job Letter no more than 1 month old
  • Pay slip no more than 1 month old
  • 2 forms of valid picture ID
  • Proof for Address no more than 2 months old

 

REQUIREMENTS FOR SOLE TRADERS:

  • Trader’s Registration Certificate
  • Completed Statement of Affairs
  • One year Bank Statement
  • Contracts if applicable
  • 2 forms of valid picture ID
  • Proof of Address no more than 2 months old

 

REQUIREMENTS FOR ALL COMMERCIAL BUSINESS LOANS:

  • Company Profile/Details or Background of Operations
  • Company Registration Documents – For Limited Companies:
    • Certificate of Incorporation
    • Certificate of Continuance (if applicable)
    • Notice of Directors
    • Notice of Secretary
    • Notice of Address
    • Latest Annual Return filed by Company
    • Vat Registration Certificate
    • By-Laws (if no By-Laws provide a letter printed on the company’s letterhead stating same)
  • Valid ID’s
    • Two (2) forms of ID for each Director and Secretary or Sole Trading Partner
  • Completed Statement of Affairs for the Main Principal(s) of a Limited Company
  • Financial Accounts for last 3 fiscal years (Audited or Management)
  • Interm Financial Accounts for 6 months OR 6 months Bank Statements
    • (if 6 months from the Financial Year End has elapsed)
  • Business Plan

 

ESPECIALLY FOR CONTRACTORS:

  • Up to date Aged listing of Receivables and Payables
  • Proof of Trade (for Contractors)
    • Copies of past significant contracts
    • Copies of Ongoing contracts
    • Listing of Expected contracts
      (All including contract dollar values, % completion, contract period)
  • Cash Flow Projections for the next 12 months