Breeo Lenders Ltd provides short-term credit facilities to employees of companies that enter into a Memorandum of Understanding (MOU) for payroll-deducted loans with Breeo Lenders Ltd. We offer superior service with a short turnaround time. The process is simple, and funds are disbursed within 24 hours of a complete application being received. The funds are collected via monthly payroll deductions from the employer company.
KEY FEATURES OF OUR LOANS
- Short-term in nature, meant to finance short-term needs that banks typically do not finance.
- Loan repayment period is from 1 month to 60 months.
- Top-ups available after 3 months of performance on the initial loan.
- No collateral required.
- Early loan repayment allowed.
- Loan size depends on the employee’s salary and tenure of the loan. Our standard affordability criteria is that the employee should not commit more than 40% of gross pay as take-home pay after all statutory, employer, and third-party deductions.
HOW IT WORKS
MOU Signed Between Employer and Breeo Lenders Ltd
- Employer agrees to facilitate Breeo Lenders Ltd loan deduction from payroll.
- Employer agrees to remit deduction schedule and payment to Breeo Lenders Ltd.
Employee Application
- NRC
- 2 latest pay slips
- Employment confirmation letter from HR/Finance
- 2 months’ latest bank statements
Breeo Lenders Ltd Review of Application
- Breeo Lenders Ltd reviews and liaises with MOU contacts.
- Breeo Lenders Ltd advises the employee within 24 hours.
Month-End Repayment of Loan
- Employer deducts loan repayment as scheduled on the agreed date.
- Employer remits to Breeo Lenders Ltd at the end of the month.
- Breeo Lenders Ltd uploads repayments on the loan and the loan is fully paid off.