1. Introduction

Welcome to Mhlakuvukwa Finance Group (PTY) LTD By applying for or using our loan products, you agree to the following terms and conditions. Please read them carefully before proceeding.

2. Loan Eligibility

Applicants must meet specific eligibility criteria, including age, credit history, and income requirements, to qualify for a loan. Documentation to verify these criteria may be required.

3. Loan Application and Approval

Submitting a loan application does not guarantee approval. All applications are subject to a review process to assess creditworthiness and compliance with lending guidelines.

4. Loan Repayment Terms

Repayments are due as specified in the loan agreement. Failure to make timely payments may result in penalties, additional interest charges, or legal actions.

5. Interest Rates and Fees

The applicable interest rates and any associated fees will be clearly outlined in the loan agreement. These rates are subject to market conditions and lender policies.

6. Early Repayment

Borrowers may repay the loan early without penalties unless stated otherwise in the loan agreement.

7. Default and Consequences

In case of default, the lender may take appropriate legal action to recover the outstanding amount, including reporting to credit agencies and asset recovery.

8. Data Privacy

Your personal and financial information will be collected, stored, and processed in compliance with applicable data protection laws.

9. Amendments to Terms

We reserve the right to modify these loan terms at any time. Changes will be effective upon posting on this page.

10. Governing Law

These loan terms and conditions are governed by and construed in accordance with the laws of Springfield. Disputes will be resolved in the appropriate courts of Springfield.

11. Contact Information

If you have any questions or concerns regarding these loan terms and conditions, please contact us At support@mfgpty.co.za or 077 377 07007.

Mhlakuvukwa Finance Group (PTY) LTD (“MFG”) requires a Verification and Compliance Fee to be paid before the final approval and release of any loan. This fee is used to cover third-party verification and administrative costs related to the loan application process.

1. Purpose of the Fee

The Verification and Compliance Fee is applied to cover:

• Identity confirmation through the Department of Home Affairs
• Credit and affordability checks via accredited credit bureaus
• Verification of bank statements and account ownership
• Document validation and compliance screening
• Preparation and processing of the loan contract documents

These checks must be completed before a loan can be approved or disbursed.

MFG does not deduct verification fees from loan proceeds, as verification is required before funds can be released.

2. Non-Refundable Situations

The fee is non-refundable if:

• The applicant submits fraudulent, altered, or invalid documents
• The applicant withdraws the application before verification is completed
• Verification agencies report discrepancies or data mismatch

3. Refundable Conditions

The Verification and Compliance Fee is fully refundable upon the successful completion and full repayment of the approved loan, provided that:

• All documents submitted were valid and passed the verification process
• The borrower meets all loan obligations throughout the repayment period

Refunds are processed within 10 business days after final loan settlement.

4. No Guarantee of Loan Approval

Payment of the Verification and Compliance Fee does not guarantee loan approval. Approval is based on the applicant’s:

• Affordability assessment
• Document validity
• Compliance with MFG lending requirements

5. Fraud Prevention and Loss Control

This fee was implemented due to a high number of fraudulent applications that resulted in significant financial losses for the company. Verification is essential to protect both MFG and legitimate applicants.