Frequently Asked Questions and Answers
- Question(Q): What is the interest rate on loans?
- Answer(A): Loans attract an interest rate of 3 % per annum.
- Q: Will my credit rating affect my ability to access loans from Everest Finance Corporation?
- A: No,your credit rating will not affect your ability to access loans from us.Your loan accessibility is based on the feasibility of the project or business that you need the loan for.If,after conducting our due diligence on your proposed project/business and we find it to be viable,approval for your loan to be disbursed will be issued.
- Q: What sort of collateral do I need to provide to enjoy facilities granted by Everest Finance Corporation?
- A: Everest Finance Corporation grants only non-collateral loans,so you do not need to provide any collateral before you are given a loan.
- Q: Do I need to processing or advance fee before getting a loan from Everest Finance Corporation?
- A: No.There is no processing or advance fee before getting a loan through Everest Finance Corporation.
- Q: What is the highest loan amount that I can get?
- A: There is a cap of US$5 million to personal loans and a cap of US$50 million to business loans.Anything above this is referred to angel investors to look into,that is,if business/project proposal is deemed feasible.
- Q: From the point of application,how long does it take to get my loan?
- A: Our loan process is usually swift.Loans are approved immediately the due diligence is completed and it is determined that the project/loan is viable.Due diligence process usually takes between 5 and 20 business days,after all required documentations are submitted.
- Q: How short/long are your loan tenures?
- A: Loan terms range from 3 to 10-year tenures.
