Before you can request a loan in the BIZTECH Marketplace we need to complete a quick assessment. This is a legal requirement, but it’s also for your protection – both to ensure that you can afford the loan, and also to ensure no one is attempting to borrow money under your name without your permission. This process is 100% online, so you can complete it without leaving the couch!
Verify your identity
First we need to verify your identity and check it against the Jamaica’s credit bureaus, this is a legal requirement (to ensure you’re not bankrupt etc), but it also ensures no one can apply under your name without your permission.
For this step in the application process you will need:
- A valid Jamaica’s Drivers License, or
- A valid Jamaica’s Passport or National ID.
Verify your income
Next we need to verify your income. We do this by assessing your bank statements from the last three months.
Verify your Financial Details
We’re almost there! We just need to know about your financial assets and liabilities. This will help us determine how much you can comfortably afford to borrow. For this stage we will need to know:
- All income sources
- Assets (e.g. house, investments, savings etc.)
- Liabilities (e.g. credit cards, personal loans etc.)
- Mortgage or Rent (Note: this should not be listed in liabilities)
From here, your application will be sent away for final approval, and you will be notified by SMS message and email. You may also add a Co-Borrower at this stage in the process.