ZRW solar_financing

Flowchart: Alternate Process: ZRW Energy

Financing

Through negotiations with Micro lenders and development agencies ZRW products can be purchased through a financed loan.

Under the terms and conditions, the applicant may apply for financing at any of the stores that hold ZRW products or may apply directly through ZRW. For more information contact us on

enquiries@zrwmechanika.co.za or

fax: 0865510971 or tel: 011 8947695

The financing is managed through Lendcor. For more information about the terms and conditions visit www.lendcor.co.za

Credit Application 6 Step Process

To qualify, your customer needs to answers the four questions below and then follow the next 4 steps:

Do you have full time employment? Yes

Do have your latest payslip? Yes

Do you have a South African ID? Yes

Are all your accounts up to date? Yes

Step 1 - Quick Acceptability Test

You must provide the following information to ZRW conduct the quick test:

· Title, Surname, Initials and First Names

· Gender

· I. D Number

· Date of Issue of ID

· Telephone number: Work/Home or Cell

· Postal Address

· Residential Address

· Marketing options

· Language of Choice

· Gross Salary

· Requested Loan Amount

You will be informed:

1. Submit

2. Borderline

3. Decline

Step 2 - Complete application form with required supporting documentation

If the quick test results in a response of “Submit” or “Borderline” the following documents

· Latest pay slip:

· 1 payslip if the customer is paid monthly,

· 2 payslips if the customer is paid fortnightly

· 4 payslips if the customer is paid weekly,

· One full months bank statement to correspond with the latest payslip

· 3 months bank statements for amounts over R20000

· South African ID document

· For amounts above R20000, 3 months banks statements are required

· The customer can select one of these tailor made options to suit their loan requirements:

· 6 month loan from R1 000 to R5 000

· 9 month loan from R1 000 to R10 000

· 12 month loan from R1 000 to R20 000

· 18 month loan from R2 000 to R20 000

· 24 months loan from R2 000 to R20 000

· 36 months loan from R20 000 to R100 000

· 48 months loan from R20 000 to R100 000

· 60 months loan from R20 000 to R100 000

· Certain category of pensioners will be considered. Government pensioners may be considered if they do not have any other accounts.

· For Pensioners: The following documents are required:

· ID document

· Pension Slip

· Copy of Pension Card

· 1 Full months bank statement (if available)

· The pensioner can select one of these tailor-made options to suit their loan requirements

· 6 month loans - R500 to R1000

· 9 month loans – R500 to R1000

Step 3 Settlements:
If the client has an existing loan and has completed paying a minimum of four consecutive instalments, he/she can then apply for a new loan settling the outstanding amount. Settlement amounts are valid for 7 days only from date of issue. The loan agreement will show the split of the loan with the loan amount, the settlement and the payment to merchant.

Only supply goods to the value of payment to the merchant NOT the loan value.

Step 4 - On approval of the loan application

A Loan Agreement – to be signed by the customer

NB - Breakdown of payments: To Merchant and Third Party on the Loan Agreement explaining the split of the loan. It is your responsibility to ensure that the goods supplied will be the value of the payment to the merchant and not the loan amount.

NB: The approval is valid for 45 days only. Should the time period expire a new application must be submitted.

Step 5 - Payment will be made within 24 hours

Payment will be made to the merchant on receipt of the signed faxed copies of:

Loan Agreement

Delivery note/Invoice fully completed and signed

NB: The above documents must be fully completed, signed by the customer and merchant.

Step 6 - Where customers can pay

Customers Can Now Pay at Any Branch of:

SHOPRITE

PICK ‘n PAY

POST OFFICE

STANDARD BANK