Nedbank
Nedbank micro loan is gigantic nightmare

So, my company has been with Nedbank since 1999, the last time I took out a loan was approx. 10yrs ago, we don't even have an overdraft facility. One of my staff vehicles engine is gone, and I need R10 000.00 to overhaul it. So I decide to ask my BANK for a loan. I am told, they need a set of audited financials, 12 month sales projected forecast, personal assets and liabilities, income and expenses. I asked my accountant for this and it will cost R 5000.00 to produce all these documents. FOR A R10.000.00 micro loan!??? I told the business consultant at Nedbank this and she said its policy, the easiest way to do it is apply for a credit card, but we still need all these documents. WELL... Nedbank, ive had enough of this nonsense, I would rather call Wonga or borrow from a Loan than spend R5000.00 on DOCUMENTS!!.. you make thousands off us, we deposit millions and you wont part with a R10 000.00 for emergency repairs without making it impossible to obtain. You aren't a peoples bank. Time TO MOVE BANKS!

Company: Nedbank
Country: South Africa
City: Bluff

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