1. In these terms and conditions:
    1. “our” or “we” or “us” means Cash Connect Capital Proprietary Limited.
    2. “you” or “your” means the party who makes application to borrow money from us.
  2. All loans by us to you are subject to acceptance by you of the terms in our standard written loan agreement which you are required to sign.  We have an online signature platform which is easy to use. We set out in these terms and conditions, some of the terms and conditions which will apply to the loan.  The rest of the terms and conditions are found in our standard written loan agreement.   Our standard loan agreement will be provided to you after receipt of your application for funding and after our approval of your application. No funds will be advanced to you before you have complied with the terms and conditions of our standard written loan agreement.
  3. All funding applications are granted within our discretion and are subject to our final written approval.  We may approve an application for funding in a lesser amount than the amount for which you have applied and we may withhold our approval within our discretion.
  4. We provide unsecured funding.  You are not required to provide security to us for repayment of the loan in the form of assets.  We do however require that we receive a written personal payment guarantee on your behalf.  The personal payment guarantee will need to be signed by the guarantor(s).  We will need to approve the guarantor(s).  We may withhold our approval of the guarantor(s) within our discretion.
  5. Payment to you in the funding amount approved by us will reflect in your bank account within 60 (sixty) minutes after we have approved your application, you have signed our standard loan agreement, you have performed as required in our standard loan agreement and all necessary signed documents (properly completed) have been received by us at capital@connected.co.za or any other email address as we may advise.
  6. An application for funding may not be approved if any judgment(s) have been entered against you.  
  7. We will not approve an application for funding in an amount of less than R50,000.00 (fifty thousand rand). If you are a customer of Cash Connect Management Solutions Proprietary Limited (“Cash Connect”) you may qualify for funding in an amount equal to 50% (fifty percent) of your average monthly cash deposits made to the Cash Connect cash vault and your average monthly card payment receipts.
  8. You do not need to be a customer of Cash Connect in order to apply to us for funding.
  9. An application for funding will not be approved unless you have an active South African bank account against which a debit order can be processed, that is a cheque/current account.
  10. All funds advanced to you will be subject to a finance charge. The finance charge will be detailed in our final written approval and will be added to the amount of funding approved by us.
  11. The loan together with the finance charge must be repaid in daily instalments. If you are a customer of Cash Connect, then the daily instalment will be deducted directly from the funds available in the Cash Connect cash vault, every day.  If you are not a Cash Connect customer and you do not have a Cash Connect cash vault, then the daily instalment will be deducted directly from your bank account every day by way of a debit order.  You will be required to sign the debit order at the same time as you sign our standard written loan agreement.
  12. We offer you a choice of 90 days, 180 days, 270 days or 360 days to repay the loan and the finance charge in full.
  13. If you repay the loan in full within the first one third or second one third of the repayment period, we will allow you an early settlement discount calculated as follows:
    1. settlement in full within the first one third of the repayment period the discount will be an amount equal to 45% of the finance charge.  This is explained by way of the following example – capital amount = R500,000.00, finance charge = R50,000.00, repayment period – 180 days; if the total amount owing (R550,000.00 is paid in full within 60 days, the discount will be R50,000.00 x 45% = R22,500.00; and
    2. settlement in full within the second one third of the repayment period the discount will be an amount equal to 10% of the finance charge.  This is explained by way of the following example – capital amount = R500,000.00, finance charge = R50,000.00, repayment period – 180 days; if the total amount owing (R550,000.00 is paid in full within 120 days, the discount will be R50,000.00 x 10% = R5,000.00.
  14. To enquire about a Cash Connect cash vault, email cash@connected.co.za or contact 0861 MYRAND (697263).
  15. Enquiries in regard to obtaining funding should be addressed to: capital@connected.co.za  or contact 0861 FUNDED (386333).
  16. Applications for funding in can be made from the Connected App, which is available for download from iOS and Android.