Terms of Service
Last Upated: 28 Jan 2024
Subject Matter(s): Money Lending
Read Time: 5m
Definitions
Month: A period of 30 days
Services Offered
We are a money lending firm specialising in offering the following services:
- Payroll Loan
- This is a loan lasting between 3 - 6 months.
- The deductions are intended to be done through your payslip to promote ease of payment and ease of receipt of funds.
- Our apt Ecospace agents and system will be able to calculate the maximum amount you are eligible for based on your payslip.
- Your loan agreement will outline the deadline dates for loan repayment(s), as well as the expected value that you are supposed to pay.
- Salary Advance
- This is a loan lasting for precisely 14 days.
- It is intended to give you part of your salary.
Loan Eligibility
To be eligible for a loan, you are supposed to be represented by a company that we have an MOU with, and additionally, you are supposed to be represented by them for at least 6 months after the date of your loan.
Loan Receipt
You can opt ot receive your loan via the following methods:
- Bank Transfer
- This method is time insensitive, the transfer will be initiated within 2 hours of your successful application.
- Mobile Money
- Currently only Airtel and MTN are supported, this is time sensitive and can only be completed on the same day if your application is completed by 12pm.
- Cash
- This is also time sensitive, you can only collect your cash on the same day if your application is completed by 10am.
Late Penalties
In the unfortunate event that you are unable to pay your debt, you will incur a standard late penalty of 25% for every 14 days which begins the day after your due date.
Force Majeure Events
In unforseen and unfortunate events such as death or natural disaster, given that we have an MOU with the establishments for which we provide our loan services, they automatically act as your guarantor.
Communication
All official communications will be conducted via e-mail and in writing.