I was referred to CBT regarding a person loan application. These loans offered entails that 50% of the loan be provided to the client as goods and not cash. After my initial application was submitted via a broker and I was contacted by them, they requested me to submit an application form, payslip copy and bank statement. I submitted all these. It was indicated to me that a loan of R15000 was approved and as soon as the signed contract was received, they will provide the R8000 cash as well as the goods to the value of R7000. I was then provided with an order form to sign regarding the goods to be delivered. I then requested the contract in order to sign both the contract and order form and submit both simultaneously. I was then informed by another person telephonically that I do not qualify for the loan although it was previously confirmed in writing via email that the loan was approved. CBT now states that they only received the documentation and did the employment verification after this email although this is not the case (it was provided to them before they confirmed approval of the loan via email).
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