A credit provider is someone who provides credit or lends money under a credit agreement. The National Credit Regulator (“NCR”) must register a credit provider. Credit agreements may not be offered or entered into by a credit provider who is not registered under the NCA.
Banks are examples of credit providers.
Microfinance institutions;
Furniture and apparel stores are examples of retailers.
All firms, corporations, partnerships, and people who conduct business on credit, make loans, or charge interest on past-due accounts
What documents do I need to apply for a Credit Provider license?
Certain information must be acquired and compiled before you may apply for a Credit Provider license.
To begin, obtain a document checklist for a Credit Provider application.
Annexures mentioned in the checklist:
Annexure A – Application Form (NCR Form 2)
Annexure B – Resolution if the petitioner is a legal person (Resolution specimen)
Annexure C – List of criminal clearance certificate service providers
Annexure D – Complete Fee Payment Confirmation
Is it possible for an individual to become a credit provider?
A natural or legal person may apply for registration as a credit provider. A person who is supposed to be registered as a credit provider but is not registered is not permitted to provide, make available, or extend credit, engage into a credit arrangement, or agree to do any of these things.
In South Africa, how long does it take to register as a credit provider?
between the ages of 9 and 12 weeks
The process can take between 9 and 12 weeks to complete, depending on whether the natural or legal person provides appropriate information in their application.
Share This
