Our Products and Services

Products & Services

Low Interest loans. Admin Fees will apply

a.         Services

Urbanloanz Coop works with low income workers who are having difficulty

meeting their financial commitments by assisting them to get regular daily employment and showing them how to save a portion of their daily wage to pay their financial commitments and at the same time showing them how to save and meet ongoing financial issues.



b. Products

1.         Motorcycle Arrears Loans

Urbanloanz Coop offer a loan repayment programme when the Lender is in lapse payment arrears for the purchase of his motorcycle for lapse payments under P3000 per month.

With this loan Urbanloanz Coop will repay all the arrears on the motorcycle.

In return for this the Lender will sign an agreement to work and to make daily payments to pay back the Arrears owing on the motorcycle and to continue working and making daily payments until the original loan is paid in full. This loan is calculated at 10 per cent rate for a maximum of 3000 pesos in lapse. The lender will be required to continue making payments after the original motorcycle purchase loan is paid off and until the Arrears Loan is paid in full.

Examples:

The lender owes one months lapse on his motorcycle dealer repayments i.e.: 3000 pesos and the required payments are 3000 per month. The lender still has five months of repayments to pay at $3000 per month, a total of 15000 pesos to pay off the motorcycle with the dealer plus the 3000 pesos lapse, a total of 18000 pesos. 

Urbanloanz will repay the lapse payment of 3000 pesos and the lender will agree to work for Urbanloanz until the total amount i.e.: 15000 pesos of the Motorcycle Loan is paid from the Motorcycle dealer and to make daily repayments until the lapse payments and dealer payments are paid in full.

Total owed to Motorcycle Dealer is 3000 pesos lapse and 15000 pesos total before he owns the motorcycle. 

15000 pesos motorcycle loan plus 3000 pesos borrowed x 10% interest = 1800 pesos plus establishment fee 250 pesos, plus monthly Admin fee 600 pesos = 20650 total pesos owed.      

The lender makes daily payments of 130 pesos per day repayments for 159 days

The payments continue until the loan is paid in full. The lender then owns the motorcycle.

Term of Loan to pay           five months still to pay plus month lapsed.

2. Motorcycle Payment Loans

Urbanloanz Coop offer a higher interest rate to help with larger lapse amounts on motorcycle arrears where the arrears amount owing is higher than 3000 pesos lapse per month.

This loan is calculated at a minimum of 20% and repayments must be paid daily at a maximum of P150 pesos per day minimum until the loan is repaid.

In return for this the Lender will sign an agreement to work and to make daily payments to pay back the Arrears owing on the motorcycle and to continue working and making daily payments until the original loan is paid in full.

This loan is calculated at 20 per cent rate from a minimum of 3000 pesos. The lender will be required to continue making payments after the original motorcycle purchase loan is paid off and until the Arrears Loan is paid in full. Daily payment amount will be P150 minimum.

Examples:

The lender owes one months lapse on his motorcycle dealer repayments i.e.: 4000 pesos and the required payments are 4000 per month. The lender still has 20000 pesos to pay off the motorcycle with the dealer plus the 4000 pesos lapse, a total of 24000 pesos.

Urbanloanz will repay the lapse payment of 4000 pesos and the lender will agree to work for Urbanloanz until the total amount i.e.: 24000 pesos of the Motorcycle Loan is paid from the Motorcycle dealer and to make daily repayments until the lapse payments and dealer payments are paid in full

Total owed to Motorcycle Dealer is 4000 pesos lapse and 20000 pesos total before he owns the motorcycle, @24000 pesos.

20000 pesos motorcycle loan plus 4000 pesos borrowed x 20% interest plus establishment fee 250 pesos, plus monthly Admin fee 700 pesos = 5750 pesos = 29750 total pesos owed.

The lender makes daily payments of 150 pesos per day repayments for 199 days.

The payments continue until the loan is paid in full. The lender then owns the motorcycle.