JDFS Loans – Reliable and Affordable Lending
Overview
Operating in a tough credit environment, many South African furniture retailers have been forced to adapt to changes characterised by crippled sales growth and a slowdown in consumer spending. The tighter credit market is as a result of a decline in consumers’ disposable income. Furniture retailers such as Joshua Doore Financial Services (JDFS) have offered clients innovative credit solutions. These credit offers have been attractive to clients because they are able to leave the store with a new appliance or furniture item as well as cash in their pocket.
Loans from the JD Group can be accessed from a wide network of Joshua Doore partners that include Barnetts, Bradlows, Russells, Morkels, Electric Express and Joshua Doore. JDFS offers loans of up to R24 000 with flexible repayment terms of 6, 12, 18, 24 and 30 months. These terms are dependent on clients’ credit profile and affordability.
To qualify, borrowers need to be at least 18 years old but not older than 65 years. Proof of permanent employment is a necessity, in the form of the most recent payslip, showing a stable income of at least R2000 per month. The latest 3 months’ bank statements also need to be presented along with proof of credit life insurance in the client’s name. Self-employed individuals are eligible for application, provided they produce 3 months’ personal bank statements, an income tax certificate from an accountant, CC registration number and proof of credit life insurance in their name.
Payment is facilitated via debit order or via electronic banking and clients can also apply for lifestyle credit to directly finance furniture and electronic goods at over 1000 stores nationwide. With stringent regulations of the National Credit Regulator imposed on furniture retailers, JDFS emphasises accuracy of credit affordability calculations to avoid reckless lending. Borrowers are encouraged to apply for loans only if they can afford the repayments.
JDFS can be contacted on: 010 211 0100.
