Countries / Zimbabwe
Loan management software in Zimbabwe
For money lenders and microfinance companies in Zimbabwe: borrowers checked by National ID number, phone numbers in +263 form, money in US Dollar ($) and reports you can hand to the Reserve Bank of Zimbabwe, on a phone or a computer.
- Money
- US Dollar ($)
- Phone numbers
- +263, like 077 123 4567
- Borrower ID
- National ID number, like 63123456A42
- Region
- On every borrower's address
- Plans
- From $39 a month, in US dollars
How borrowers repay
EcoCash, OneMoney and InnBucks, bank transfers, and payroll deductions for civil servants through the Salary Service Bureau. Each payment is recorded against the right instalment, with a receipt, whichever way it came in.
Who licenses lenders
Credit-only microfinance institutions are licensed by the Reserve Bank of Zimbabwe under the Microfinance Act. Spindle Loans keeps the loan register, signed agreements, key facts and a complaints log, ready to show when you are asked.
A typical loan
Payroll loan, repaid monthly from salary: $200.00 over 6 months at 10% a month, flat, is 6 instalments of $53.33, $120.00 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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