Positioned between Nedbank and African Bank in Vereeniging, CBD Finance is a credit provider that will offer you loans even when other major banks won’t!
As the placement of their offices in Vereeniging would suggest, CBD Finance as a credit provider competes with major banks to offer consumers short-term cash loans.
At first glance it may look like a losing battle, but they have advantages that allow them to serve bad credit and indebted loan applicants; consumers who may be under-served by these major banks.
By charging slightly higher interest rates than are typically charged by major banks, smaller loan agencies like CBD Finance are able to offset the risk associated with affording credit to such consumers.
These loan agencies also have shorter repayment terms which means that credit consumers won’t be paying back the loan over several years.
As long as the loan applicant is found eligible in the short review process, which includes an soft credit check and affordability assessment, they can be granted the cash loan.
The soft credit check would just be a summarized inquiry of the applicants credit history. The affordability assessment just attempts to calculate whether the monthly repayments would be affordable for the applicant.
For this loan application and review process, the applicant would need to provide their ID, latest payslip and 3 months bank statements showing their address.
Once found eligible in this short review process, the cash payout is deposited into the clients account almost immediately.
The only concern with these smaller loan agencies aside from interest and other costs would be whether or not they are operating legally. Illegal credit providers may overcharge credit consumers in fraudulent ways or scam them.
CBD Finance in Vereeniging is a registered credit provider with the National Credit Regulator (NCR). Their NCR registration number is NCRCP7392.
Here at CreditMoney we help you make informed financial decisions by providing you with:
- Information on other loan agencies both registered and otherwise;
- A loan interest calculator to compare costs between loan agency offerings; and
- An online loan application from our trusted partners.
CBD Finance Contact Details
Between Nedbank and African Bank, Voortrekker Street, Vereeniging, 1930, Gauteng
016 421 1327 or 016 421 1377