Loan Document Requirements for Clients

 

Employed Clients

  1. JOB LETTER - within 6 months - If time on job at current job is less than 2 years you will need a letter from your previous job stating your time on job there or your last 2 pay slips.
  2. PAYSLIP – LAST 3 PAY SLIPS
  3. PROOF OF ADDRESS - within 90 days (bank statement AND/OR utility bill in applicant’s name)
  4. ONE VALID FORM OF PICTURE ID (preferably Drivers License)
  5. TAX REGISTRATION NUMBER (TRN)
  6. A SIGNED CREDIT BUREAU CONSENT (Verify the form is signed exactly like the ID) or online acknowledgment.
  7. TWO REFERENCES - NAME, ADDRESS, EMPLOYERS AND TELEPHONE NUMBER
  8. TWO CLOSE FRIENDS - NAME, ADDRESS, EMPLOYERS AND TELEPHONE NUMBER

 

Pensions

  1. PENSIONERS – LETTER FROM PENSION OFFICE OR BANK STATEMENT SHOWING 3 MONTHS PENSION DEPOSITS (Once pension is from NIS or the Pensions Unit of the Accountant General's Department). Pension from any other institution both pension letter and pay stub is required.
  2. PROOF OF ADDRESS - within 90 days (bank statement AND/OR utility bill in applicant’s name)
  3. ONE VALID FORM OF PICTURE ID (preferably Driver License)
  4. TAX REGISTRATION NUMBER (TRN)
  5. A SIGNED CREDIT BUREAU CONSENT (Verify the form is signed exactly like the ID)
  6. TWO REFERENCES NAME, ADDRESS, EMPLOYERS AND TELEPHONE NUMBER
  7. TWO CLOSE FRIENDS -NAME, ADDRESS, EMPLOYERS AND TELEPHONE NUMBER

 

Disabled

  1. PROOF OF DISABILITY BENEFIT – LETTER FROM AGENCY STATING DISABILITY SUPPORT CONTRACT-BANK STATEMENT SHOWING 3 MONTHS BENEFIT DEPOSITS.
  2. PROOF OF ADDRESS - within 90 days (bank statement AND/OR utility bill in applicant’s name)
  3. ONE VALID FORM OF PICTURE ID (preferably Driver License)
  4. TAX REGISTRATION NUMBER (TRN)
  5. A SIGNED CREDIT BUREAU CONSENT (Verify the form is signed exactly like the ID)
  6. TWO REFERENCES NAME, ADDRESS, EMPLOYERS AND TELEPHONE NUMBER
  7. TWO CLOSE FRIENDS -NAME, ADDRESS, EMPLOYERS AND TELEPHONE NUMBER

 

Self Employed

  1. BUSINESS REGISTRATION –Must be registered at least 2 years. For LLC, authorization letter from other directors’ to be provided, once client is not managing director.
  2. Client must give detailed profile of business: How many employees, where business is located, hours of business, type of business, and type of clients.
  3. TWO years’ certified financial statements or 6 months bank statements.
  4. Taxi Drivers – taxi badge must be valid, vehicle must be in good working condition and license and registration valid. If vehicle is not in client’s name authorization letter from owner required and contract of agreement for use of vehicle to be provided.
  5. Landlords- lease of property must be in client’s name, if property is joint, other party must give authorization of property to be used. Contract of agreement for each tenant to be provided, state how tenants make payments whether direct deposit to account or via cash (Invoice proof required).
  6. PROOF OF ADDRESS - within 90 days (bank statement AND/OR utility bill in applicant’s name)
  7. ONE VALID FORM OF PICTURE ID (preferably Driver License)
  8. TAX REGISTRATION NUMBER (TRN)
  9. A SIGNED CREDIT BUREAU CONSENT (Verify the form is signed exactly like the ID)
  10. TWO REFERENCES NAME, ADDRESS, EMPLOYERS AND TELEPHONE NUMBER (Preferably friends)

 

Welcome to EZ Buy, the ATL finance option in partnership with JMMB Bank, that will offer our
customers another way to shop with us. Please see below the FAQS to remember.

 

Terms of the Loan:

  • This is a line of credit, similar to an unsecured loan for a specific item.
  • Minimum amount that can be borrowed - $25,000 and the maximum amount that can be borrowed - $800,0000
  • The loan tenure is minimum 12 months and maximum 36 months.
  • Rates are really competitive and lower than credit card rates and hire purchase rates.
  • Customers will have the opportunity to pay off their loan early should they desire, without any penalty.
  • All related charges such as delivery and installation can be included in the loan amount.There is an administrative fee of 2.5% of the loan amount that must be included in the loan, this will be included in the new price tickets “credit price”.
  • Customer will be required to open an account with JMMB Bank. Included in the credit price will be the $1000 opening fee.
  • Loan payments will be made directly to JMMB Bank.
  • The approved line of credit is valid for 3 months.

 

Customer Requirements:

  • Customer should have their own email address for correspondence from JMMB Bank regarding the application process. (In the event that the customer does not have an email address please use your email address to maintain the lines of communication with the customer).
  • There are a number of documents that the customer will be required to sign:
    • Account opening document – signed by customer
    • Commitment Letter – Loan contract – signed by customer
    • Creditor Life – insurance for the loan (mandatory) – signed by customer
    • Salary deduction/standing order form – for salary deduction the customer is to arrange with their HR department for processing, for standing order the customer signs and JMMB Bank will set it up.
    • Promissory Note – client signs

 

Credit Report:

  • Customers will not be charged for the credit report.
  • Credit report application should be signed at time of application with customer’s identification.
  • ATL Sales Executive/Associate witnesses and dates the application form
  • Scan and email form plus customer’s ID to : consumerfinanceja@jmmb.com

 

Sales Associate/Executive Requirements:

  • Please remember that review and approval of the loan can only be completed by JMMB Bank.
  • As the Sales Rep you will be included on all of the correspondence with the customer pertaining to the loan approval so that you can follow up with the customer.
  • During this Pilot phase you will be required to assist the customer with the application form.
  • We will transition to tablets in the coming days.
  • You can use the loan calculator that will be shared with you as guide for the monthly payment.
  • Final monthly payment and loan tenure will be determined based on the customer’s credit score and ability to repay which is assessed by JMMB Bank.
  • The customer’s supporting documents should be scanned and emailed to consumerfinanceja@jmmb.com The customer is free to do this on their own time. You are not responsible for the submission of documents however to close the sale you should encourage your customer to submit as soon as they are prompted.