The following loan requirements apart from being designed to mitigate risks associated with Nyasa Capital Finance business it also understands Nyasa Capital Finance Risk Management Policy. Which encompasses internal policies, procedures and controls designed to assure compliance with relevant authorities, directives and also the Money Laundering. Proceeds of Serious Crime and Terrorist Financing Act 2011 The borrower shall be required to fill the loan application form before any process of the loan.
The Loan application form is designed to facilitate the borrower’s understanding or due diligent.
The loan application form shall include the following requirement: Borrower’s Valid identification card i.e., Driving license, Passport, Employment ID, Voter’s Reg. Card and submission of 2 passport size photo Borrower’s nature of residential status and copy of valid permit where necessary Borrower’s proof of physical location and plan. Borrower’s current and home address Borrower’s spouse and guarantor or referee or Witness details.
Borrower’s liability with other financiers has to be disclosed, and the officer has to have authority or mandate to do so within limit range as per Nyasa Capital Finance credit policy Borrower’s references will be sort to assess credit history and creditworthiness.
Nyasa Capital Finance shall take precaution to protect the confidentiality of borrower information and transactions, unless disclosure is required by law, a court order or the Registrar for the purposes of fulfilling regulatory obligations.
Borrower’s surety or guarantee should be assessed,
Borrower’s surety must be registered and perfected before issuing the loan.
The officer who approves the loan should be in line with their approval limits as per Nyasa Capital Finance credit policy.
