Relief to your staff – a relief to your business.
If you were directly directed to this page of our site, you were one of our selected employers that we would like to make contact with. You also received the intro video which provides a small idea of what we offer to you as the Employer and also to your staff. – If not, please click here for the video.
We are sure that after you saw the video, you will have a few valid questions. You may now go to the links on the right for more information. We are confident that all your questions will be answered, and that a meeting can be arranged to finalize a new Joint Venture between the parties
We rapidly became the Service Provider of choice by providing exactly this. Low Budget Loans follows the trend that technology should provide services to all South Africans, and that the traditional footprint of offices nationwide became redundant.
We focus on centralization by dealing only electronically in each transaction. This enables us to offer our services to all South Africans nationwide.
Low Budget Loans has existing Salary Deduction Agreements (SDA) agreements in place with Employers, (we are more than comfortable to publish these Employers, should you be interested for reference purposes). Current SDA Agreements with Employers vary from between 300 and approximately 4 000 employees on their payroll.
Low Budget Loans has broadened its product range a few years ago when we were approached by an Employer to manage the outsourcing of their in-house loan facility to employees.
The drive behind this was mainly the immense administration burden on their HR Division, keeping track of each employee’s weekly advances. But, most importantly, the cash flow impact it has on their day to day business.
Low Budget Loans decided to shift our focus slightly by focussing on certain Employment Groups and entering into a Joint Venture with these employers to offer loans to their employees. Entering into a Joint Venture entails the following:
*His / her affordability does not allow a loan as prescribed by the NCA.
*He / she was terminated and will leave the services of the Employer end of that month.
*He / she is not yet employed for a minimum of three months.
Low Budget Loans is responsible for the marketing by printing stickers that we paste on the blank payslips (prior to the Employer printing the info on the payslips) with the relevant information. This needs to be a point of discussion whereby all parties decide if this is the suitable method for your specific type of employee / field of business.
Low Budget Loans is proud to announce that we comply 100% with the National Credit Act and at the same time, we already comply with all the new Amendments and Regulations as published in the Government Gazette that is only to be implemented by 1 July 2015.
This is only a short version of what we can offer but should give an understandable scope of our business and our versatility in customising a service and product to the needs of your Employees to the benefit of you the Employer. Keep in mind by “outsourcing” the offering of this service to your employees, you relieve your HR Division of a huge administration burden and simultaneously improve your day to day cash flow.
And don’t forget – Use the Joint Venture benefit and finance those “out of budget” staff requests.
We anticipate your positive feedback in this regard and we will be looking forward conducting business with a company of your stature.