You are requesting for an SME credit Loan by clicking the Request button you have agreed and accepted the 9pay SME digital Loan terms and conditions provided by Novacrest Solutions Ltd in partnership with 9pay Ltd.
1. Terms & Conditions
Further to your application for the SME credit loan. We are pleased to inform you that Novacrest Solutions Ltd (the “Lender”) has approved a time loan (“facility”) under the following terms and conditions.
As may be approved by 9pay
To bridge the cashflow gap for business.
The interest rate for the facility is 10% flat, which shall be subject to review from time to time in line with the prevailing money market conditions. Any change in pricing of the facility notified by the lender to the borrower shall be binding on the borrower.
6. ONE TIME MERCHANT VERIFICATION FEE
7. PENAL CHARGE
|10 days post maturity||3%|
|30 days past Due||3%|
|45 Days Past Due||3% (every month thereafter)|
8. REPAYMENT SOURCE
9pay wallet shall be debited for amount due or from debit card linked to account when loan is due/past due.
9. COMMENCEMENT DATE
This facility shall be available for utilization only upon meeting criteria and conditions precedent to collection as may be prescribed by 9pay.
The facility shall commence on the date of disbursement, after which the loan is repayable 30days after.
11. CONDITIONS PRECEDENT TO DRAWDOWN
12. ELECTRONIC COMMUNICATIONS
The borrower hereby consents to notices , documents and any other communications relating to the facility and terms and conditions sent by 9pay to borrower via email or other electronic means (including without limitation, an SMS Message).
These terms and conditions shall remain in force as long as 9pay remains the creditor of the borrower or as long as any part of the loan remains unpaid.
I acknowledge that I have read and understood all of the terms and conditions as contained herein and agree to be bound by them.