Execuloan (Pty) Ltd, established in May 2019 the company was setup to facilitate and incorporate bridging the gap in the payroll loan market to issue secured loans to employees of companies who sign up to the program in the assistance of cashflow for small and medium business entities.
While the initial intention was only to facilitate and payout payroll loans the business has also developed a division that facilitates credit in the open market sector.
The micro loan portfolio while has a higher interest yield also assists in the payout of loans in the open market forum and not just restricted to payroll clients.
The following requirements must be met in order to qualify:
*No fees to be charged for any loan application submitted.
We partner with big and small businesses in the mining, logistics, financial services, call-centers and other sectors that typically employ underserved individuals, to be able to reach low-income, salaried people.
Easy application process allows simple and timeous approvals, making it easier for employees to gain access to cash fast
Once approved, employees get access to funding within 48 hours, depending on the loan amount.
We guarantee security and privacy to all our users in accordance with the POPI act.
We at Execuloan are available to assist you with any queries you may have about the application process.
Our easy to follow process makes access to your loan that much more simple. Just ensure you match and have ready the criteria for applying.
Employers can offer this benefit, free of charge. This alleviates the indebtedness to the company having a behaviour change amongst employees.
Micro or Payroll Loans range from as little as R1 000 (One Thousand Rand) to R6 000 (Six Thousand Rand) over a period from 1 (one) to 3 (three) months. These loans would generally attract a higher interest rate, due to the shorter period over which the loan is taken.
Payroll Loans can be used for anything you require and are not secured by any of your assets. Payroll Loans are also referred to as Emergency Loans and can assist you with your finances to meet your short term obligations.
Micro and Payroll Loans are granted in accordance with the National Credit Act (NCA) guidelines to ensure that there is no reckless lending and that the loans are only paid out to those individuals that can afford the monthly instalments.