Business

Term Finance offering short-term

Sunday, December 01, 2019

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Prospective borrowers who need to secure immediate, affordable short-term financing now have a viable solution with Term Finance (Jamaica) Limited. The company, which is partly owned by Panjam Investments Limited, Mouttet Capital Limited and Term Finance Holdings Limited, is a credit institution offering short-term loans under ethical conditions and at favourable rates.

Term Finance allows employees, who have worked with enrolled institutions for a year or more, to use a smartphone or a computer to apply online via the Term Finance portal at www.termfinance.com.

The application process, which is fully web-based, can take as little as 10 minutes, according to a recent press release.

The customer portal includes an easy-to-use loan calculator, which displays repayment periods interest rates and respective dollar values to promote transparency and facilitate wise financial decision-making.

The approval process is simple and straightforward, and repayment is done via salary deduction. Clients can borrow as much as a full month's salary and have up to six months to make repayments. Once a loan is approved, the funds are transferred directly to the applicant's account eliminating the need for in-branch appointments or visiting banks to cash or deposit cheques.

“Term Finance provides solutions for an underserved customer base in the local financial market who have limited options for affordable, convenient financing from credible institutions,” Country Manager, Ingrid Mackay said.

Medical emergencies, home improvements, unexpected travel, school fees and other education expenses are among the financial demands the company enables its clients to meet, often in the face of pressing deadlines, Mackay said.

“Our services help our customers to achieve their life goals, deal with emergencies or action short to medium-term plans and in many instances, this preserves their financial well-being,” she explained. “We also strive to offer excellent customer service and clients truly appreciate that we meet their needs in a caring manner.”

An experienced financier with more than 20 years in the banking and investment industries, Mackay maintains that technologically-driven processes have enabled Term Finance to offer highly convenient, top quality services at affordable costs.

“Our entire process is done online, funds are disbursed directly to customers' accounts and repayment is done by salary deduction, so these efficiencies save our clients from a lot of the hustle and bustle involved in doing personal business,” the country manager said. “On top of that Term Finance does not charge application fees or processing fees which means the cost of utilising our credit is minimal for customers, so we are fast becoming the preferred option for meeting short term credit needs.”


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