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how to borrow

Borrowers are requested to register an account with us. There are 3 options:
  • Fremium - Free Account
  • Premium - $10 per month subscription fee. Extra benefits for example Early Warning, Double Profit Share etc.
  • Premium Plus - $100 per year. Extra benefits for example 2 months free, Early Warning, Double Profit Share etc
  1. Log in to your account, and click on Apply for funding.
  2. Fill in the Application Form and Click on submit.
  3. This step covers the broader details of your deal / transaction. Please keep all documents pertaining to you deal close, as we will require you to submit them in your application form.
  4. All application fees due are also collected at this stage.
The client will now receive a Preliminary Term Sheet. Time Lines to receive a Prelim Term Sheet are as follows:
  • Standard - 5 working days
  • Express - 48 Hours
  • Super Express - 24 Hours.
Based on our Credit Committee's decision, a deal transaction structure is produced and indicative terms are drawn and presented to the prospective client. Key considerations include: Amount, facility type, affordability, security, counterpart risk and fees. Please note: One of our requirements will be a small Good Faith Deposit. These funds are used to do our Due Diligence, Travels, Advertising etc for your deal. "These Funds returned, less disbursements, in the event the loan is not approved by Africa Funders Group, or it will be applied to the Facility Fee if the loan is approved by Africa Funders Group. "
  • Upon acceptance of indicative terms by the prospective client, more detailed in depth analysis is done on the transaction, KYC, Financials and physical transaction documents are collected.
  • On-site client inspection is arranged with a member of our Team and all information is then compiled for the Credit Paper which gets submitted to our Credit Committee.
  • The time line for this step is based on the type of deal, and how soon the prospective client submits their documents, but on average takes between 1 week - 2 weeks.
The client will now receive a Preliminary Term Sheet. Time Lines to receive a Prelim Term Sheet are as follows: Standard - 5 working days Express - 48 Hours Super Express - 24 Hours. Based on our Credit Committee's decision, a deal transaction structure is produced and indicative terms are drawn and presented to the prospective client. Key considerations include: Amount, facility type, affordability, security, counterparty risk and fees. Please note: One of our requirements will be a small Good Faith Deposit. These funds are used to do our Due Dilligence, Travels, Advertising etc for your deal. "These Funds returned, less disbursements, in the event the loan is not approved by Africa Funders Group, or it will be applied to the Facility Fee if the loan is approved by Africa Funders Group. "Once all Due Diligence is complete, and so long as the Sales Team is of the opinion that the deal is still viable, a Credit Paper is prepared. This is the formal proposal that is submitted to the Credit Committee to assess an opportunity. A Credit Paper will not be accepted if all supporting documentation is not readily available to the Credit Committee. This phase involves members of the Credit Committee to meet and deliberate whether or not to support a presented transaction. The Committee not only assesses the credit risk of the transactions, but also decides on the various administration tasks associated with running the facility. The Time Line for this step on average takes 1-2 Days.
If the Credit Committee is satisfied with all the findings, and decides to move ahead with the deal, they give a list of CP's that needs to be fulfilled before any payments can take place.
While the CP's are being fulfilled, the Deal will be uploaded on our system / website for our Crowd to fund, and also placed on Facebook for advertising to get the deal funded. Please note: No sensitive information will be posted without the clients written consent. The Time Line for this step depends on how soon the CP's are fulfilled, and the amount that needs to be raised from the Crowd.
Once all CP's are in place, the suppliers are paid and the deal is officially active. Please Note: All our payments are done on Wednesdays only. Any payments to be made needs to be submitted by 12:00 pm on the Tuesday before. Client now fullfills the deal / contract and makes sure everything runs smoothly, and that the end user pays.
Client dispurse funds to Africa Funders as per the agreed upon time frame and amount in the Term Sheet. Africa Funders will then dispurse funds to the funders pro rata according to which they have funded.

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