ANY FULLY REGISTERED AND OPERATIONAL BUSINESS CAN QUALIFY FOR CREDIT

 ANY FULLY REGISTERED AND OPERATIONAL BUSINESS CAN QUALIFY FOR CREDIT

Many of us were raised to believe that credit is bad irrespective of its purpose, but this simply isn’t true, especially in business. When used for things that increase your net worth and generate value, credit can empower you to realize your goals.

How to Qualify for a Credit in South Africa?

  1. Passport or ID
  2. Registered Business
  3. Business Bank account
  4. 3 months bank statement.
  5. Latest salary slip. (Optional)
  6. The minimum salary requirement for a credit application is R5 000, and R10 000 for self-employed clients.
  7. Income verification: You will need to provide proof of income to demonstrate your ability to repay the credit
  8. Proof of Address

It's important to note that each bank or shop may have its own specific requirements and criteria for credit applications. It's advisable to check with the specific bank or shop you are interested in to get accurate and up-to-date information on their application process and eligibility criteria.

This is only half the truth. Talk to us for more information and advice. We will advise on which shops to go to for the process.

#credidqualification #businesscredit #creditworthiness #maltechcreditadvice #maltechafrica

Comments

Post a Comment

Popular posts from this blog

WORK OR BUSINESS PERMIT APPLICATIONS, WAIVER OR WAIVER EXEMPTIONS

  WHAT IS A WAIVER OR A WAIVER EXEMPTIONS Where certain requirements cannot be fulfilled, a special waiver request may be considered by the Department of Home Affairs (DHA) when submitted in terms of section 31(2)(c) of the Immigration Act, 2002, as amended. A waiver application is thus (a formal written request to the DHA to set aside certain prescribed requirements for a visa in any given category). This means that companies and/or individuals may, for good cause, be exempted from certain prescribed requirements. WHAT NECESSITATES THE NEED FOR A WAIVER? A waiver letter can be submitted with the General Work Visa application in lieu of the Department of Labour Certificate. The employer/applicant may have received a negative recommendation from the Department of Labour. The applicant may not be able to produce an evaluation from the South African Qualifications Authority (SAQA) of their foreign qualifications. The applicant may not be able to travel abroad to their country ...
Read more

A PARENT/HOLDING COMPANY IN SOUTH AFRICA

  A PARENT/HOLDING COMPANY IN SOUTH AFRICA   The structural advantages of Holding Structures (most commonly known as Holding Companies) can help you manage multiple services, products, and even businesses under one Holding Company. Here’s the breakdown on Holding Companies. A Holding Company is the mother ship. It holds various businesses within one corporate entity. That means it’s the perfect way to structure various services or products within one corporate group without having to keep them all within one company. Thousands of South Africans use a holding structure to set up their business. This structure can limit financial risk and assist you with branching out to new industries. Click here to read more. WHY CHOOSE A HOLDING COMPANY? A Holding Company is perfect for entrepreneurs looking to branch out to new business prospects; prospects that don’t quite fit into their existing companies. It’s also great for business owners who want to compartmentalize diffe...
Read more

FOREIGN SUBSIDIARY BUSINESS SET UP SOUTH AFRICA

  SET UP A FOREIGN BRANCH IN SOUTH AFRICA A foreign company may conduct business in South Africa in its own name by establishing a branch office registered as an “external company” or may instead elect to incorporate a wholly-owned subsidiary of the foreign company. Our multidisciplinary team of consultants and chartered accountants (SA) and attorneys are well-placed to provide your company with a roadmap to operate in South Africa. This includes an initial consultation to determine whether Branch or Subsidiary is more suited for your operations, filing annual returns, and offering complete accounting services. FOREIGN BRANCH The Companies Act, of 2008, defines a company that is incorporated outside of South Africa as a “foreign company”. A forei...
Read more