Quantum Credit considers loan applications from the following categories of borrowers:
In terms of the National Consumer Credit Protection (NCCP) Act, Quantum Credit cannot consider loan applications from individuals who require finance for their own private purposes or for investment, in their own names, in residential property.
The table below summarises the applicability of the NCCP. Quantum Credit does not enter into any transactions with individuals who fall within the ambit of the NCCP – categories B and C - below:
|
A |
B |
C |
D |
E |
|
|
BORROWER |
CORPORATE |
INDIVIDUAL |
INDIVIDUAL |
INDIVIDUAL |
INDIVIDUAL |
|
CAPACITY |
IN ITS OWN RIGHT/AS TRUSTEE |
IN ITS OWN RIGHT |
IN ITS OWN RIGHT |
IN ITS OWN RIGHT |
AS TRUSTEE |
|
LOAN PURPOSE |
N/A |
DOMESTIC >50% |
INVESTMENT |
BUSINESS |
N/A |
|
NCCP OUTCOME |
UNREGULATED |
REGULATED |
REGULATED |
UNREGULATED |
UNREGULATED |
In respect of individual borrowers that borrow for business purposes, a Loan Purpose Verification Form must be completed.