Consumer Finance – Loan Process
Step-by-step walk-through of our Consumer Finance Loan Application process, with summaries of action taken and required, for loan success.
Online form completion and submission
Applicant visits our Consumer Finance Application page, as a result of an online search, manual input of web address or by a referral link from one of our Partners.
Applicant complete and submit your loan application form with all necessary details – applicant receives a copy.
Eligibility checks & confirmation telephone call
CFM receive loan application and share with selected appropriate lender on our panel, determined by the loan purpose.
The lender reviews application to confirm their criteria is satisfied, then on behalf of CFM, they contact the applicant directly via phone, to confirm loan details and eligibility status, and following security and identity checks, loan terms.
Important Notice: Please be available to take the Lenders telephone call, to confirm and complete your finance application.
Loan funds transferred upon approval
Once passed and loan agreement terms are accepted between the applicant and the lender [CFM has no further involvement in this application], a repayment contract is drawn up for signing.
Following the completion of this, funds are transferred to the applicants provided bank account.
Monthly amount repaid for agreed term duration
Repayments need to be made according to the agreement the applicant now has with the lender under the contract they now have.