Low Income Community Loan

The target group here is enterprising persons that reside in marginalized communities who either have good jobs outside the communities or do legitimate business within the communities such as shop-keepers and other enterprise.
Because of the volatile nature of these communities bailifing is not an option. However collection can be effected when borrowers become delinquent, usually by threat of reference to the Residence Magistrate Court as a claim on ALL the borrower and guarantors.


  • No security* required
  • Borrow up to $40,000
  • Residing in a depressed community not a problem
  • Enjoy an interest rate of as low as 1%* approximately per week
  • No processing fees
  • Lump sum payments possible
  • Early close out possible with no penalty *


  1. Two co-borrowers (no collateral) required must join on the loan with primary borrower
  2. Four (4) reliable references required that when contracted they can offer a stamp of approvals to the reputable and trustworthy character of the primary borrower and that of the co-borrowers (guarantors)
  3. Must demonstrate a feasible plan with ability to make payment
  4. Requires Head Office scrutiny and prior approval before a cheque is issued
  5. Bank Standing Order if applicants holds a bank account

OBF Imperatives

  • All necessary checks including active visits to the residence of applicants and co-borrower (guarantors) in these communities is mandatory before the grant of a loan to ensure level of risk and prevent fraud.
  • Approval for these loans must first be refereed to the Head Office and receiving go-ahead granted before granting.
  • Salary deductions form must be completed and employer approved for deductions for the persons employed.
  • Bank standing orders (where possible) should be established for all who hold a bank account.
  • Maximum loan grant is limited to $40,000 for persons in the shop-keeping business and up to 10% of annual salary to applicants who are steadily employed in a reputable and long standing company.
  • For applicants in business forbearance payment on actual principal can be considered for up to 24 weeks; however the weekly interest must be paid always on time.