McBro Finance Ltd Logo

Loan Application Form

Deduction Code:
Personal Details (A)
Have you taken a loan before with McBro Finance?
Loan Details

(Attachments: 2/3 latest payslips, ID copy, bank statement, employer letter)

Bank Details
Type:
IRREVOCABLE SALARY DEDUCTION AUTHORITY ADVICE

TO: Manager PARS, OIC Salaries, Director Finance & Admin.

I, , authorize you to deduct K per fortnight for fortnights and remit to McBro Finance BSP Acc No. 7006547363, Waigani, for repayment of K plus interest.

I declare I shall NOT cease/alter this deduction until fully settled. Cessation/alteration issued ONLY by MFL in writing.

Personal Details (B)
Current Residential Address:
Savings & Entitlements

Organization (Tick appropriate):

POSF
NASFUND
PEA
PNG POWER S/L
CIS S/L
NCSL
PAPA
Teachers S/L
Terms & Conditions
  1. Loan+interest completed within 1-30 fortnights. Extensions on case-by-case basis.
  2. If borrower leaves organization (deceased/terminated/resigned), salary section deducts lump sum from final entitlements.
  3. McBro Finance can recoup from post contribution/assets if clause 2 insufficient.
  4. McBro Finance may reduce loan amounts based on credit ability/circumstances.
  5. 20% default charge if deduction stops.
  6. Borrower cannot change salary bank account without approval.
  7. Borrower must repay Total Amount on stipulated dates.
  8. McBro Finance may review loan facility and stop providing loans.
  9. K20 application fee deducted from loan amount.
  10. Borrower must have sufficient NET (50% take home).
  11. Borrower bears application cancellation cost (first deduction).
  12. Reimbursement queries addressed within 6 months.
FOR McBro Finance USE ONLY
Payment break up

Amount Applied for: K__________

Fees: K__________

Fortnightly Instalment:__________

Balance Outstanding: K__________

No. of Fortnights: __________

Checked by: __________________

Signature: ___________________

Date: ____/____/____

Approved by: __________________

Signature: ___________________

Date: ____/____/____

MCBRO Finance Ltd, PO Box 113, Vision City, NCD, Papua New Guinea
Ph: +675 325 1295 | Mob: + (675) 75431044 / +675 7953 8472

McBro Finance

Loan Application Form

DEDUCTION CODE:
Personal Details (A)
Have you taken a loan before with McBro Finance?
Loan Details

(Please attach 2/3 latest original payslips, copy of ID, copy of bank statement, confirmation letter from employer confirm current position)

NOTE: Please be responsible when applying for bigger amounts and be sure that you are able to repay this loan plus interest in up to 20 fortnights only. Note that McBro Finance Management reserves the right to reject, reduce or approve your application.
Bank Details

Make sure you provide accurate bank details because that is where the loan will be deposited into. It must confirm with bank statement.

Type:
TRA
SAV
CHQ
IRREVOCABLE SALARY DEDUCTION AUTHORITY ADVICE

TO: Manager PARS, OIC Salaries, Director Finance & Admin.

I, hereby irrevocably authorize you to deduct the sum of K per fortnight for consecutive fortnights from salary and remit to McBro Finance BSP Account No.7006547363, Waigani Branch for the repayment of K plus interest owed to McBro for the duration of specified period until fully paid.

I also declare that I shall NOT cease nor alter this deduction in any way either directly or indirectly until fully settled. Furthermore, cessation and/ or any alteration of this deduction agreement will be issued ONLY by MFL in written form.

Personal Details (B)
Current Residential Address:
Savings & Entitlements

Please tick where appropriate Organization

POSF
NASFUND
PEA
PNG POWER S/L
CIS S/L
NCSL
PAPA
Teachers S/L
Terms & Conditions
  1. A total loan plus interest should be completed within 1 to 30 fortnights commencing on the pay day stated on the deduction advice. However, extension required based on case by case basis.
  2. In the event of the Borrowers employment with the organization been deceased, terminated, resign or separated in any way, salary section will deduct in lump sum from the borrowers final entitlements to cover all liabilities owe to McBro Finance.
  3. McBro Finance Ltd has every right to recoup any outstanding loan from any post contribution or any personal assets if clause 2 of this agreement is insufficient.
  4. Mcbro Finance Ltd has every right to reduce loan amounts indicated on the application based of credit ability or for any unforeseen circumstances face by Mcbro Finance Ltd.
  5. If the borrower's deduction stop, Mcbro Finance Ltd will charge 20% default charge to deduction amount.
  6. The Borrower hereby agrees and undertakes not to change his/her bank account where their salary is credited to without prior approval from McBro Finance. Mcbro Finance Ltd will not credit loan amount into any account other than the salary account.
  7. The Borrower agrees and makes an undertaking to repay the Total Amount Repayable to McBro Finance on the Repayment period dates stipulated in this Loan Agreement.
  8. McBro Finance reserves the right to review the loan facility during the term of loan and may decide not to provide loans to individuals.
  9. Borrower agrees that K20 application fee be deducted from his/her total loan amount and balance be paid to client's nominated bank account.
  10. The Borrower must ensure that he/she has sufficient NET at least 50% of the NET as take home pay for their family every fortnight. As such, borrowers will be strongly advised to review their application.
  11. The Borrower agrees and makes an undertaking to bear application cancellation cost which will be the first deduction of his/her pay.
  12. The Borrower agrees that any query relating to reimbursements be addressed within 6months from the date of actual transaction.

I acknowledge that I have carefully read and understood the terms and conditions of this agreement and agree to abide by the terms and conditions set out herein.

I agree that this is a personal loan and the account number provided is the true and correct account number where McBro Finance can credit the proceeds of the loan.

I certify that information provided in this application is true and correct to the best of my knowledge and I will be responsible for providing incorrect information.

FOR McBro Finance USE ONLY

Amount Applied for: K...................................

Fees: K...................................

Fortnightly Instalment: ...................................

Balance Outstanding: K...................................

No. of Fortnights: ...................................

Checked by: ...................................

Signature: ...................................

Date: ...../...../.........

Approved by: ...................................

Signature: ...................................

Date: ...../...../.........

MCBRO Finance Ltd, PO Box 113, Vision City, NCD, Papua New Guinea

Ph: +675 325 1295 | Mob: + (675) 75431044 / +675 7953 8472