This is our main product. We provide financiall solutions to employees of reputable companies. We offer flexible payback period of up 3 months at 12% compounded monthly
Trance Capital Limited offers short-term credit options to employees of businesses that sign a Memorandum of Understanding (MoU) for payroll deduction loans with our company. We prioritize providing excellent service with quick processing times. Our application process is straightforward, and once completed, funds are disbursed within 24 hours. Repayment occurs through monthly deductions from the employee’s payroll, facilitated by their employer.
- Loan repayment period is from 1 month to 6 months.
- No collateral required
- Early repayments allowed and encouraged.
- Loans depend on employees salary.
- Employees can only take up more of their net pay as debt.
- MoU signed between Employer and Trance Capital
- Employer agrees to facilitate Trance capital with loan recoveries through payroll
- Employer agrees to remit deduction schedules and payments to Trance Capital
- All other details are agreed between employer and Trance Capital
- Employee Loan Application(Online & in person)
- Employer signs the standard application form within the terms and framework agreed with the employer too.
- The signed application form and the agreed repayment scheduled are shared with the company’s payroll department
- Month End Loan Repayment
- Employer transfers the consolidated deductions to Trance Capital to a bank account to be shared.
