Micro-Finance Client Loan Interaction Before Application

Structured Questions and Answers

KEY: MFI - MicroFinance Institution MFR - MicroFinance Response

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Potential Client: What type of loans do you offer? MFI : Through the MFI loan program individuals, groups, sole proprietor ships and registered companies can borrow for business development (inventory expansion, new product development, etc) , education, health care and certain emergencies. Potential Client: What is the maximum amount I can borrow? MFI: You can borrow amounts as low as J$10,000 to a maximum of J$2.5m (or the equivalent in USD). Potential Client: How long is the period of the loan? MFI: Loans are short term in nature - 2 weeks to a maximum of 2 years. Potential Client: Will I need to provide collateral for the loan? MFI: It depends on the nature of the loan. Potential Client: What kind of collateral do you accept? MFI: Motor Vehicles up to 10 years old, Real Estate, Insurance Policies, Bank Investments, machinery, household appliances, computer equipment. Potential Client: What is the rate of interest charged? MFI: Depending on the nature and period of the loan, interest rates can vary from - 14% to 60% and USD - 7% to 15% on the reducing balance. Potential Client: How long will it take to approve the loan? MFI: It depends on the kind of loan but the period ranges from 1 to 2 weeks. Potential Client: What form of documentation will I need to complete loan? MFI: You will need copy of a valid ID, proof of residence, job letter, 3 months pay slips, copies of bank statement (last 6 months), 2 references. Potential Client: Am I required to pay an upfront fee for getting the loan? MFI: Some MFIs will charge no fees but others will may charge anywhere from % up to as high as 3%.

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Potential Client: Are there any other charges I will need to pay? MFI: It depends on the nature of the loan and the security documentation required.

Structured Questions & Answers - Secondary Potential Client: How do I get started? MFI: You can start the process immediately by filling out the Inquiry Form! Potential Client: Do I need a Checking or Savings Account to qualify for a loan? MFI: No. You can repay loans using cash or Mobile Credit. Potential Client: Do you check my credit? MFI: Your Loans Officer may run a credit check or ask for credit references. Potential Client: Can I pay off the loan at any time? MFI: Yes. Free form Questions Potential Client: MFR: Potential ClientPotential Client: MFR: MFR: MFR contd: Potential Client: MFR: MFR: contd: MFR: contd: Potential Client: MFR: MFR: Potential Client: Potential Client: MFR: MFR: Potential Client: MFR: MFR: Potential Client: MFR: I am interested in a loan. How much and what is the purpose of the loan? $10,000. I need to buy a sewing machine for my business. $5m. I need to purchase a house. Is your business registered or are you a sole proprietor? We offer loans up to a maximum of J$2.5m. We offer loans only for: Refer to Q/A One. Sole proprietor. You will first need to fill out an application form. The application form is available at ______ . If you have difficulties completing contact ______ . Do you need security? Yes, you can use the assets here as security. Is there anything else we can help with today? (Standard after all exchanges) No. Yes. Have a great day! Please select from our menu and wait for your response. I do not have all the documentation that is required to apply for the loan. Can I still go ahead? All the documentation listed will be required by the MFI. Only in special circumstances will the loans officer grant a waiver. Will my loan officer accept copies of the documents required? The loans officer will need to see originals of all documentation. He or she will make or take copies and return the originals. Do you lend money? Yes, we do lend money. We lend from J$10,000 to a maximum of J$2.5m. Refer to Q/A Two. The loan has to be secured by the assets (Refer to Q/A Five) & can be used for (Refer Q/A One).

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What is the rate of interest? Interest rates can vary from J$ - 14% to 60%p.a. (Reducing Balance). Refer to Q/A Six. Can I get a lower rate? The rate is fixed at XXX%p.a. on loans. How long do I have to repay? You repay p and I monthly. The repayment period ranges from 2 weeks to 2 yrs. Can you help me restructure an existing debt? Under certain circumstances, you can borrow to restructure an existing debt. For example, if refinancing would free cash flow to promote growth or add employees, your Loans Officer may consider a loan. I am part of a group set up to invest in an agricultural project. Will you consider lending? Yes, some MFIs will lend to groups. Each member of the group will co-sign on the loan. What is an MFI? We are a lending company. You can borrow funds from J$10,000 to J$2.5m. Refer to Q/A for more details. Can I borrow in US$? It depends on whether or not you earn USD. If you do not earn USD, the loan will be denominated in J$. Refer to Q/A for more details. I need a loan but I have no security/collateral. Collateral is required depending on the nature and tenure of the loan. The assets that can be used as security are (Refer to Q/A Five). Refer to Q/A for more details. I need a loan but only have a car that is 15 years old. Collateral is required depending on the nature and tenure of the loan. Typically motor vehicles should not be more than 10 years old. The assets that can be used as security are (Refer to Q/A Five). Refer to Q/A for more details. I have collateral but not in my name. Collateral is required depending on the nature and tenure of the loan. The assets that can be used as security are (Refer to Q/A Five). Refer to Q/A for more details.

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Can I borrow jointly? Yes you are allowed to use a co-signer. The MFI will need full details on the co-signer. The co-signer will need to sign loan documentation with you. I do not have any of the collateral listed. Can I have someone guarantee my loan? Under certain circumstances guarantors are acceptable to secure a loan. Who can I use as a Guarantor? You can used any employed person. They should been employed for the last 3 years. And be able to show they can pay your loan should you default. What will the Guarantor need to provide? 3 months payslips, 6 months bank statements, Acceptable form of ID.

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Will my guarantor need to accompany me to see Loans Officer? Yes, your guarantor will need to accompany at the request of your Loans officer. My guarantor works and cant leave in the days. Your guarantor will need to sign in person. Please explain to guarantor and give enough notice for appointment to visit Loans Officer. Can I use my mother as Guarantor? Family members are typically not allowed. Your Loans Officer will require an independent person to act as Guarantor.

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Future Support Potential Client: MFR: MFR: I was told I can borrow J$50,000 from your company. What would my monthly payment be? To work out your monthly payment, use our loan calculator here. It tells you your monthly payment and breaks it down into principal and interest. What if its difficult to use? Its very easy to use. Just go to the screen input the J$50,000 and press calculate. If you have any difficulties contact your nearest MFI.

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At what point will I be required to pay the fee charged for getting the loan? When the loan is approved. Can you deduct from the loan amount? Yes, the fee can be taken from the loan before disbursement. What if after the loan is approved, I change my mind. Will I get back the upfront fee I have paid? We will retain/collect XXXX for processing the loan. The fee of YYYYY charged for establishing the loan will not be applicable. I just registered my company. Can I still get a loan? Businesses typically need to be registered for at least 6 months. MFIs however have very flexible loan plans. Refer to Q/A for more details. I want to apply for a loan, what documentation do I need? You will need to complete a loan application. We need copy of a valid ID, proof of residence, etc. (Refer to Q/A Eight). Go here for full list. Where can I get the application form? The form can be picked at any MFI. What should I do once the form is completed? Drop off at your nearest MFI. Bring other documentation required also. Who can I use as Reference? You may use an Attorney, Pastor, Bank Manager, Professional, JP. I am only interested in a PAYDAY LOAN. How does that work? A Payday Loan is a short-term loan until your next payday. When the loan is due, you may: Pay the interest to extend the loan until your next payday Pay the loan in full. It's always your choice I am interested in a MV Loan. How does that work? With a MV loan, a lien is placed on your vehicle and you continue to drive it. MV loans are available for 30 days up to a maximum of 2 years. What do I need to qualify for a payday loan? You must have an open and active Checking or Savings Account (preferably with Direct Deposit).

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You must be 18 years of age, have a steady verifiable income, and have a current permanent residence. What do I need to qualify for a Online Micro Loans Title Loan? You must own a Paid Off Vehicle with a Clear Title, be 18 years of age, have a steady verifiable income, and have a current permanent residence. Do I need a Checking or Savings Account for a payday loan? Yes. You need a Checking or Savings Account, preferably with Direct Deposit. How fast can I get the payday loan money? Applications can be approved and processed within an hour to a few days. Once approved, the loan proceeds will be deposited directly into your checking account and the funds will be available on the next bank business day. How fast can I get the MV loan money? Applications can be approved and processed within a few hours to a few days. Once approved, the loan proceeds will be deposited directly into your checking account and the funds will be available on the next bank business day. How much money can I borrow for a payday loan? The loan amount is based upon your monthly income and your stability at your job and residence. After completing your application you will be told instantly online how much you are approved for. How much money can I borrow for a MV loan? The MV loan amount is based upon the value of your vehicle and your monthly income. Where can I find an MFI? See list (Refer to Q/A) of all participating locations. Do I have to use the one nearest to me? No. You may choose any MFI you prefer.

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Client Loan Interaction During Approval

Free Form Questions Client: MFR: MFR: MFR contd: MFR: Client: Client: MFR: MFR: Client:MFR: Client: Client: MFR: MFR contd: MFR contd: Client: MFR: Client: MFR: Client: MFR: Client: Client: MFR: MFR: Client: MFR: Client: Client: MFR: MFR: Client: MFR: Client: I made an application for a loan but have not heard anything/not gotten a response. Please type in your ref # (depending on interface, this resp could be eliminated). Your application is possibly still being processed. Give your MFI a call now check back with them in a couple days. Is there anything else we can help with today? (Standard after all exchanges). No. Yes. Have a great day! Please select from our menu and wait for your response. I have been approved for a loan but have not received the funds. Have you submitted all docs required? No Yes All docs must be submitted before disbursement. Take docs to MFI asap. If you are having trouble with form, contact your MFI for help. Will I receive funds once I have submitted docs? Yes, providing all other requirements are met. I have submitted a loan application but my loans officer is very slow. Please call your MFI for an update. I have done that already but im not getting anywhere. Have you spoken to a Supervisor or the Manager of the MFI? Yes No You should try another MFI in your area. Ask a Supervisor or Manager to help. I made an application for a loan but now realise that I need more cash. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I made an application for a loan but now realise that I need less cash. Has the loan been approved? Yes

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No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I made an application for a loan but now need to change the security offered. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I made an application for a loan but need a longer time to repay. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I made an application for a loan but my co-signer has changed his mind. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I made an application for a loan but my Guarantor has changed his mind. You will need a new Guarantor or provide other acceptable security. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I made an application for a loan but one of my References has changed hiS mind. You will need a new Referee. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I made an application for a loan as part of a group but some members have changed their minds and want out. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes.

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I made an application for a loan but I am not happy with the terms offered. Has the loan been approved? Yes No Speak to your MFI just the same, they may be able to adjust loan. Your loan is being processed. Its not too late to make changes. I applied for a loan when can I sign the documents? Have you received a formal approval from MFI? Yes No Contact your MFI, they will tell you when the docs are ready. The loan is not yet approved. Contact your MFI for an update. If I am late or default on my loan, will I need to tell my Guarantor? Once your loan is at risk of default (2 months payments in arrears), your Guarantor will be notified. If you default on the loan (3 months payments in arrears), a formal demand is also made on Guarantor. If I am late or default on my loan, will I need to tell my Co-signer? Your Co-signer receives all the notifications on the loan arrangement. Once your loan is at risk of default (2 months payments in arrears), your Cosigner will be notified. If you default on the loan (3 months payments in arrears), a formal demand is also made on Co-signer.

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Client Loan Interaction During Approval - From MFI Perspective

Free Form Interaction MFI: We have received documentation as required. Can you provide the originals? Client: Yes I can provide originals. When can drop them off? MFI: Please drop them off today/by ......................We will not be able to complete application without them. Client: I only have some originals. What do I do? MFI: Drop off the originals you have then I will guide you once received. MFI: We have received your job letter but it is not on a letterhead? Can you provide us with a job letter on your companys letterhead? Client: My supervisor requires a formal request from you? MFI: OK. We have a standard request form. We can get it to you or to your supervisor by email, fax or hand delivery. Or you can pick up. Client: When can I come in? MFI: Anytime. I will leave at the front desk! MFI: I have a copy of the valuation for the asset you would like to use as security in hand but your loan request is more than we are prepared to lend. Client: What will you lend? MFI: Only 70% of the value. Client: I will need more money than that. MFI: You will need to provide more security to get the full amount. Client: What else can I use? MFI: Point to Q/A 5. MFI: We have received your ID. It is the National Voters ID. Can you provide us with a copy of your drivers licence or passport instead? Client: I only have the Voters ID. Client: OK...I can use my DL. MFI : Ok...we will need you have have a copy of the Voters ID certified by a JP or Notary Public. When can you have this done? MFI: thank you. Please let us have a copy of the DL asap. MFI: You are requesting a loan in USD but your earnings are in J$. Client: But the rate on the USD is lower. MFI: Yes but bear in mind the exchange rate risk. We require that you earn USD to offset that risk. Client: Can I get a lower rate on the J$ loan then? MFI: No...the rate is fixed. MFI: Yes, we can consider reducing by XXXX points.

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We have recd you business loan application but based on the type of loan we need to see audited financials for the last three years. Client: I have never done an audit. MFI: We will need the accounts certified by a professional account. Client: How do I go about doing that and wont that cost me more money? MFI: If your accountant is a qualified CPA, he can certify each page of the accounts you have provided. Here is a list of pre-approved accountants who could assist. MFI contd: We are not asking for a full audit so the cost will be lower. Client: How long will this take: MFI: It all depends. The accountant will advise. MFI: We have recd you business loan application but based on the type of loan we need to see 3 to 5 years cashflow projections. Client: I have never done cashflows. MFI: We will need the cashflows to determine your ability to service loan. Client: How do I go about doing that and wont that cost me more money? MFI: your accountant should be able to them. Alternately, Here is a list of pre-approved accountants who could assist. MFI: Explain to the accountant what you are doing and ask for an affordable fee. Client: How long will this take: MFI: It all depends. The accountant will advise. MFI: We are processing your loan application but you have not provided a TRN. Client: I do not have a TRN number. MFI: You will need to apply for one. Client: How do I do that? MFI: Call your nearest tax office and ask for the requirements. MFI: Your loan has been approved but you have not provided a payee. Client: Can I get the loan in my name? MFI: No, we will need to make the check directly to your supplier. Client: He does not have a checking account. MFI: He can use a savings account or provide us with other payment information. Client: Can I give you details? MFI: No...I need instructions from supplier on letterhead and signed by the supplier. MFI: Client: MFI: Client: MFI: Client: Client: MFI : MFI: MFI: Can you provide us with the original title for the MV being used as collateral? I do not have the original title. Where is it? I took a loan from another bank and they have it. Have you paid off the loan? Yes, I have. No. Make request for the title to be returned to you. You will need to pay off the balance on the loan first, then request the title.

We have completed the assessment of your loan application. When can you come in and sign? Client: Can I have someone pick up the docs?

MFI: No...you are required to sign them in person. Client: I am busy this week. MFI: Make some time and give us a call when you can come in. MFI: Your loan application is approved. When can you come in and pick up check? Client: Can I have someone pick up the check? MFI: You are required to sign for the check. If you cant come in, please write a formal request for it to be delivered to someone else.

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We have completed the assessment of your loan application. When can your guarantor come in to sign? Client: Can I or someone pick up the docs and take to Guarantor? MFI: No...the Guarantor is required to sign in person. Client: She is busy this week. MFI: Schedule a time with Guarantor and give us a call when they can make it.

Client Loan Interaction After Approval

Free Form Questions Client: MFR: MFR: MFR: Client: Client: MFR: MFR: How much is my monthly payment Please type in your a/c # (depending on interface, this resp could be eliminated). Your monthly payment amount is ________ . Is there anything else we can help with today? (Standard after all exchanges). No. Yes. Have a great day! Please select from our menu and wait for your response.

Client: Where do I make my loan payments? MFR: At your home branch (once client puts in a/c # the system can tell) located at _. MFR: Or any other branch locations. Client: How many loan payments will I make? MFR: 36 monthly payments. MFR: Refer to your loan approval letter for more details. Client: Can you remind me of the rate charged on my loan? MFR: 15%p.a. MFR: Refer to your loan approval for more information. Client: MFR: Client: MFR: Do you accept checks for payment? Yes! Can I pay with my personal check? Only certified checks are accepted.

Client: Can I pay my loan payments in cash? MFR: Yes, you can! Client: What if I have more than the monthly payment, can I pay that amount? MFR: Yes! The interest outstanding will be paid first and the balance applied to your principal. MFR: No! We only accept the agreed monthly payment as per loan agreement. (The system response here will depend on what the system allows). Client: If I have less than monthly payment, can I pay just the same? MFR: Yes. The int outstanding will be paid first and the bal applied to your principal. MFR: No. We only accept the agreed monthly payment as per loan agreement. Client: What if I want to pay off loan before expiry date? MFR: Yes, you can! MFR: Ask for full payout balance from your MFI.

Client: Will my title you hold as security be released. MFR: Yes, once the loan is fully repaid. Client: Is there a charge for paying off the loan early? MFR: Yes, there is an early payoff fee. MFR cont: There is a standard early payoff fee of ______ . MFR: Refer to your loan docs for more information. MFR: There is no additional charge for early payment, full or partial. Client: MFR: MFR: MFR: MFR: Client: MFR: Client: Client: MFR: MFR: MFR: Client: MFR: MFR: What if I need to borrow more funds? Yes, you can borrow more funds depending on current balance owed. Discuss with your MFI the total credit available to you. Also, explain why you need more funds. If you are still paying your loan, no additional funds can be borrowed. What if I am unable to pay this months payment? Why do you feel you may not be able to make payment? I have an emergency. I have been laid off. Write to your MFI explaining situation. The MFI will need documentation as proof. Once they have received, they will contact to reschedule. I need the money as Christmas is just around the corner. The MFI will need a better reason for non-payment. If unable to make any payment, always contact MFI

Client: What if I am having difficulties making payments? (Same as above) MFR: Speak to your MFI. MFR: If having difficulties meeting loan payments, always speak to your MFI. Client: Who do I speak to when I go to the MFI? MFR: Ask for a MFI loan representative. MFR: Loan reps are available at your MFI to serve your needs. Client: When I make my payment, will I get a receipt? MFR: Yes. MFR contd: A receipt is always issued after payment is made. MFR: Please file in your personal records for future reference. Client: I made my payment and did not get a receipt, what should I do? MFR: Are you absolutely sure you made a payment? Client: Yes. MFR: Do you recall the name of the MFI loan representative. Client: No Client: Yes MFR: Call your MFI. Ask for a Supervisor. MFR: cont: A receipt is issued after payment is made. MFR: Ask for the loan rep you dealt with. MFR contd: If he or she cannot help, discuss with Mngr. Client: I am working the monthly payment but cant get the figure you have given me. MFR: Your monthly payment is ____________ .

MFR: cont: It is calculated using the reducing balance method. MFR: Ask your loan rep to explain calculation.

Future Support Client: I need to pay off my loan balance, what should I do? MFR: What is your account #/ Type in your account #. Press enter. Client: OK MFR: Your loan balance is . Client: What position is principal and what is interest? MFR: Your loan principal balance is______, Interest is_______. Client: OK Client: That is not correct. MFR: You can pay off balance by cash or certified check. MFR: Ask your loan rep, they will clarify. Client: MFR: MFR: Client: Client: MFR: MFR: I keep calling my loan rep but no response, what should I do? Whats the name of your MFI? Here are the contact details for our MFI. OK The phone numbers do not work. Keep trying. Try another number. If you cant speak to loan rep by phone, pay him/her a visit.

Client: Did not make my last monthly payment, what should I do? MFR: Make payment asap. MFR: If you fail or cant make monthly payment, speak to loan rep asap. Client: MFR: MFR: Client: MFR: MFR: Client: MFR: MFR: Client: MFR: Client: MFR: MFR: MFR: I have not paid for 3 months now, what should I do? Speak to you your MFI asap. Your loan is at risk of default. What does that mean? The MFI makes a demand for full payment now. If you fail or cant make monthly payment, speak to loan rep asap. What can I do? Make whatever payment you can asap. Discuss with your MFI options to help. A friend of mine needs a loan, what should he do? He or she will need to complete an application. Where can they get the application? Ask your friend to call an MFI. You can download application form here............ For more information, speak with a loan rep.

Client: I paid the wrong amount, what should I do? MFR: Do you know what the correct amount is? Client: Yes

Client: No MFR: If less, make additional payment asap. MFR: cont: be sure to tell loan rep the reason for making payment. MFR: If more, indicate to your MFI asap. MFR contd: Keep receipt for the payment as evidence. MFR: Refer to your loan approval for correct payment. MFR: If less................................................If more.................... Client: MFR: MFR: Client: MFR: Client: MFR: Client: Client: MFR: MFR: I get paid on the 25th, but my monthly payment is on the 30th? Take your payslip in to your MFI. Discuss with your loan rep. Make formal request for change. What if they do not change? Your MFI will do best to make payments as easy as possible. I made my payment last month but I have received a letter saying I still owe: Do you have the receipt for the payment? Yes No Take the receipt to your MFI. Discuss with your loan rep or speak to a mgnr at your MFI.

Client: I think my interest rate is too high, how do I get a lower rate? MFR: The interest rate is fixed. MFR: Discuss with your loan rep, they are there to serve your needs. Client: MFR: MFR: Client: MFR: Client: MFR: MFR: I am moving, how can I continue to make my payments? You will need to write formally to your MFI. The letter must be signed by you. You will need to provide details of new address. Is there anything else I should do? Speak to your MFI. Discuss with your loan rep. I am not sure an MFI is located near my new address. Here is a listing of all MFIs. Discuss further with your current MFI.

Client: I am migrating, what should I do? MFR: You will need to write formally to your MFI. The letter must be signed by you. MFR: They will have a form form you to add new details. Client: Will I have to pay off the loan bal? MFR: No, as long as you continue to pay, no problem. Client: How will I get payment to Jamaica? MFR: Make arrangement with family/friend. MFR:cont: Make arrangement with MFI. MFR: Be sure to discuss further with your loan rep. Client: MFR: Client: MFR: Client: MFR: Someone else will make my loan payments, how should I arrange? You will need to write formally to your MFI. The letter must be signed by you. Is there anything else I will need to do? You may need to complete form for additional information. Where do I get this form? Speak to your MFI.

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How do I calculate my monthly payment? Your monthly payment is calculated at X%p.a. using the reducing bal each mth. Is there a way I can calculate it myself? There are a number of amortization calculators on the web. An option is to discuss with your loan rep. He or she will explain.

Future Support Client: How much interest do I pay monthly? MFR: Your monthly interest payment is shown in the schedule below. MFR: If you have any concerns, speak to your loan rep, they are there to serve you. Client: How much principal do I pay monthly? MFR: Your monthly principal payment is shown in the schedule below: MFR: If you have any concerns, discuss with your loan rep. Client: How much will I have paid at the end of the loan? MFR: The total principal and interest paid at the end of the loan is ____________. MFR: If you have any concerns, discuss with your loan rep. Client: Do you provide reminders before payments? MFR: Yes! Reminders are sent on the 10 days prior to payment. MFR: If you are not receiving reminders speak to your MFI. Client: I did not get a reminder last time, what happened? MFR: The system may have encountered a problem. MFR: cont: Or your phone may have been down. MFR: Did you make payment? Client: Yes Client: No MFR: Great! We will ensure reminder is sent next time. MFR: Please make payment asap. MFR: Speak to your MFI. Explain reason for late payment. MFR: Discuss with your loan rep, they are there to serve you. Future Support Client: MFR: MFR: Client: MFR: MFR: Client: Client: MFR: MFR: What is my loan balance? Your loan balance is _____________. Ask your loan rep to explain, they are there to serve you. Can I get a schedule of my payments? Yes. What is your account number? XXXXXXXX I do not remember. Your loan schedule is shown below. Ask your loan rep, they are there to serve you.

Client: MFR: MFR: Client: Client: MFR: Client: MFR: MFR: MFR:

Can I change my monthly loan payment? Yes, you will need to make formal request to your MFI. No, the monthly payment is fixed for the term of the loan. But I am having trouble making payment. I need to pay off my loan quicker. Discuss with your MFI. Can I change my loan payment interval? No, the loan payment interval is fixed. Speak to your MFI. They can change to a more suitable interval. Be sure to explain why you need the change and how it will make payment easier.

Client: The merchant says they have not received your disbursement. MFR: Have your loan been approved? Client: Yes Client: No MFR: Speak to your MFI. Explain that disbursement has not been received MFR: Your loan has to be approved first. MFR contd: Check with your MFI on status of the loan. Client: The goods I got from the merchant are defective, what should I do? MFR: Take back the goods and your receipt to the merchant. MFR contd: Show that the goods are defective and ask for a replacement. Client: What if they do not replace? MFR: File report with the FTC. MFR: cont: Also bring to the attn of MFI. MFR: cont: They will do whatever they can to have merchant rectify.

Client: MFR: Client: Client: MFR: MFR:

I do not want the goods offered anymore and need to exchange for cash. Did you keep transaction receipt? Yes No Speak to your MFI. You will need evidence of the transaction.

Client: I did not like the service I received and want my money back. MFR: It is not likely to return goods for bad service. MFR: Speak to your MFI. Client: MFR: Client: Client: MFR: MFR: Client: Client: MFR: MFR: I went to collect goods from merchant but they would not give to me. Was your loan approved? Yes I am not sure. Be sure to have your ID with you and any other d/ment from MFI. Do you have an account number? No Yes Speak to your MFI, loan may not be approved yet. Be sure to have your ID with you and any other d/ment from MFI.

Future Support Client Can I get a statement of my account? MFR: Yes MFR: cont: A statement of your account is shown below. Client: Thanks! Client: The balance seems incorrect. MFR: You are welcome! MFR: Take in all your payment receipts to your MFI. MFR contd: Your MFI will reconcile and give you your correct balance. Client: My payment for this month will be late. MFR: If the payment is later than five days after due date, there is a penalty charge. Client: What is the charge? MFR: The standard charge is an additional 5% on the amount due.

Future Support Client: What is that in dollar amount? MFR: What is your exact monthly payment? Client: XXXXX MFR: The charge is .............. Client: Can it be waived? MFR: No, unfortunately! Client: MFR: Client: MFR: Client: MFR: Client: MFR: Client: MFR: Client: MFR: My payment for last month was late....I see a charge of XXXXX for late payment fee. Yes, if you are late there is a standard late payment fee. How does this work? If the payment is later than five days after due date, there is a penalty charge. What is the charge? The standard charge is an additional 5% on the amount due. What is that in dollar amount? What is your exact monthly payment? XXXXX The charge is .............. Can it be waived? No, unfortunately!

Client: I have just received notification of 1st warning saying my debt is at risk of default. MFR: Your loan is more than likely 2 months past due. Client: What should I do, I am unable to pay. Client: I just forgot to pay. Client: I made the payments and have my receipts. MFR: If you are having trouble paying, you should write formally to MFI. MFR: cont: Be sure to state the reasons. MFR: If forgotten to pay, simply make payments asap. MFR: Take the receipts in to your MFI asap. Client: And I wont have to make payments? MFR: No, your MFI may be able to restructure your loan. MFR: Write to them asap and make appointment to discuss.

Client: I have just received notification of 2nd warning saying my debt is at risk of default. MFR: Your loan is more than likely over 2 months past due. Client: What should I do, I am unable to pay. Client: I forgot to make payments. Client: I made the payments and have my receipts. MFR: If you are having trouble paying, you should write formally to MFI. MFR: cont: Be sure to state the reasons. MFR: If forgotten to pay, simply make payments asap. MFR: Take the receipts in to your MFI asap. Client: And I wont have to make payments? MFR: No, your MFI may be able to restructure your loan. MFR: Write to them asap and make appointment to discuss. Client: I have just received notification of default and demand for full payment. MFR: Your loan is more than likely over 3mths past due. Client: What should I do, I am unable to pay. Client: I forgot to make payments. Client: I made the payments and have my receipts. MFR: If you are having trouble paying, you should write formally to MFI. MFR: cont: Be sure to state the reasons. MFR: If forgotten to pay, simply make payments asap. MFR: Take the receipts in to your MFI asap. Client: And I wont have to make payments? MFR: No, your MFI may be able to restructure your loan. MFR: Write to them asap and make appointment to discuss. Client: I have not been getting monthly statements as promised. What should I do? MFR: If you have changed your address, you are required to formally write to MFI. Client: OK Client: I have not changed my address. MFR: If address still the same, you should receive statement. MFR: cont: Write or call MFI about non-receipt. MFR: Your balance is shown below but contact MFI asap.

SAMPLE FORMS TO COLLECT INFORMATION FROM INDIVIDUALS & BUSINESSES INDIVIDUAL INQUIRY FORM

PERSONAL INFORMATION First Name ______________________ MI _________________ Last Name _____________ Email __________________________ Home Phone ________ Mobile Phone ___________ Address ___________________________________________________________________ Time at this address? _______ Yrs _______Mths. Date of Birth: _____/_____/______

EMPLOYMENT INFORMATION Name of Employer ___________________________________________________________ Address ___________________________________________________________________ Job Title ____________________ How do you get paid? Work Phone ______________ Source of Income ____

Cheque from your employer (you deposit to Chequing A/c) Cheque from your employer (you deposit to Savings A/c) Electronic deposit into Chequing A/c Electronic deposit into Savings A/c

Net Payment After Tax: __________________

Pay Frequency ___________________

BANKING INFORMATION Reference Name _______________________ Work # ___________ Relationship _____ Reference Name _______________________ Work # ___________ Relationship _____ Bank Name ________________________________ How long with the bank? _____

Routing # ______________________________ Chequing A/c # _____________________

BUSINESS INQUIRY FORM Name: ___________________________________________________________________ Company name: ___________________________________________________________ Business Street Address: ____________________________________________________ City/Country: ______________________________________________________________ Business phone number: ____________________________________________________ Email address: ____________________________________________________________ Business Web site: _______________________________________ If none, type "none." Please describe your product or service: ________________________________________ ________________________________________________________________________ Loan request amount: $ _____________________________________________________ Have you filed the relevant tax returns covering the past 12 months for the business for which you are applying for a loan?: Yes No If you answered "yes" to the previous question, how much revenue did you report in that tax filing? :$ _________________________________________________________________ If you did not file a tax return covering the last 12 months, type "NA." If you did file a return, but reported no revenue, type "0" (zero) If you answered "yes" to the previous question, how much profit did you report in that tax filing? : $ _________________________________________________________________ If you did not file a tax return covering the last 12 months, type "NA." If you did file a return, but reported no profit, type "0" (zero) What is your projected current-year revenue?: $ __________________________________ Please base this answer on your actual business income so far this year. For example, if you have three months of revenue, multiply that amount times four to get a 12-month revenue figure. If you have seven months of revenue, divide that amount by seven to get a monthly average, then multiply that sum by 12 to get the 12-month revenue figure. What is your projected current-year profit?: $ ____________________________________

Please base this answer on your actual business profit so far this year. For example, if you have three months of profit, multiply that amount times four to get a 12-month revenue figure. If you have seven months of profit, divide that amount by seven to get a monthly average, then multiply that sum by 12 to get the 12-month profit figure. How many years have you owned this business?: ________________________________ What is the purpose of the loan?: ________________________________________________________________________ ________________________________________________________________________ Has this request been turned down by other financing sources? (if yes, check all that apply): No Bank Other lender Please specify where you previously sought funding for this request: ________________________________________________________________________ If none, type "none." If your request has been turned down previously, please name the loan officer and the bank or institution where you applied for a loan. To proceed, we will need to contact that loan officer. Do we have your permission to contact him/her? : Yes No I haven't been turned down What is his/her phone number and/or email address?: _____________________________ _______________________________________________________________________ If you haven't been turned down, type "none." Are you currently delinquent on any personal or business loan?: Yes No If you answered "yes" to the previous question, please explain : _____________________ ________________________________________________________________________ ________________________________________________________________________ If you answered "no," type "none." If your business failed, how would you plan to repay the debt? (check all that apply): Business real estate Business equipment/machinery Business account receivables Personal real estate/asset (e.g. home or car) Personal income (job)

Other If you answered "other" to the previous question, please explain: ________________________________________________________________________ ________________________________________________________________________ If your answer was something different than "other," type "NA." Are you working with a business advisor with whom we could talk about this loan?: Yes No If you answered "yes" to the previous question, what is his/her phone number and/or email address?: _______________________________________________________________ If you answered "no," type "none."