Countries / Namibia
Loan management software in Namibia
For money lenders and microfinance companies in Namibia: borrowers checked by ID number, phone numbers in +264 form, money in Namibian Dollar (N$) and reports you can hand to NAMFISA, on a phone or a computer.
- Money
- Namibian Dollar (N$)
- Phone numbers
- +264, like 081 123 4567
- Borrower ID
- ID number, like 80010100123
- Region
- On every borrower's address
- Plans
- From $39 a month, in US dollars
How borrowers repay
Debit orders and EFT from the borrower's bank account, payroll deductions, and cash at the branch. Each payment is recorded against the right instalment, with a receipt, whichever way it came in.
Who licenses lenders
Microlenders are registered with NAMFISA, the Namibia Financial Institutions Supervisory Authority. Spindle Loans keeps the loan register, signed agreements, key facts and a complaints log, ready to show when you are asked.
A typical loan
Term loan, repaid monthly by debit order: N$4,000.00 over 6 months at 5% a month, flat, is 6 instalments of N$866.66, N$1,200.00 interest in total. This rate is only an example: you set your own rates, fees and penalties on each loan product.
Reminders and receipts can go out by text through a provider in your country, which we connect for you. You pay for Spindle Loans in US dollars by bank transfer; your system opens the day the money arrives.
Also in Southern Africa
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