Guidelines

Fixed interest loans start from a minimum of £100.00 to a maximum of £1,000.00 and are paid out for a minimum term of 1 month and a maximum of 24 months beginning from the date of execution of a loan agreement pending successful background & credit checks.

Arrangement Fees:

• £50.00 for loans of £500.00 +
• £100.00 for loans of £1,000.00 +

You MUST have access to internet banking to access this service.

For first time borrowers, the credit limits are as follows:

• £200 for Students, Benefits & Self employed
• £300 for Part time employment
• £500 for Full time employment

Credit limits may increase for existing customers, subject to terms & conditions.

If you are resident in the UK and are in higher education, you are eligible for 10% off all CGN loans

In addition to the mandatory documents you need to have (table below), you will need:

1. Your full Student Finance documentation
2. A letter supplied by your university confirming that you are enrolled on a course for 2 or more years
3. Your timetable (if you have received it)
4. Your valid student ID

DOCUMENTS YOU NEED TO HAVE All the documents listed in the table below are mandatory and MUST be valid. Supporting documents MUST be dated within 3 months of application
Proof if Identity (Photo ID)	FULL UK Driver’s license or Passport
Proof of Name & Address. (Mobile Phone Bills NOT accepted)	Two forms of proof and CANNOT be from the same company. (Landline, Water, Gas, Electricity, Council Tax)
Proof of Income	Bank Statement Pay slip or government letter

REVIEWS & UPDATES

Receipts will be made readily available to clients monthly.

All loans are subject to availability, status & financial stability.

This document serves as part of (CGN) Capital Growth Network’s Terms & Conditions. (CGN) reserve the right to refuse to offer services if we feel that you have supplied us with incorrect or void or misleading information.

Please visit the website or contact us for more information: www.cgnequity.com

Three unauthorized late repayments will lead to automatic account closure

The following will lead to an automatic HRL

1. First time customers
2. Three late repayments (including underpayments
3. Exceeding your credit limit.

Making repayments will increase your credit limit and decrease the amount of interest you pay.

Changing repayment cycles i.e. skipping a month and or editing terms to an existing agreement. The fee for changes & alterations is £50.00

If you change a payment date and still fail to make the payment on the new date, you will be charged a late fee in addition to the £50 charge

A bad-debt levy is added to all credit agreements which is a percentage of the annual provision.

This fee is included when calculating APR

This applies to extending a loan past its agreed fixed duration and NOT to any forbearance procedures.

Example; a customer cannot afford £10.00 per month on a loan totaling £120.00 for 12 months. Reducing the payments to £8 will increase the duration to 15 months.

The fee is £15.00 per month

To protect the consumer, all loans are limited to a maximum extension of 3 months (Maximum fee of £45.00). All fees are collected at the end of the initial loan period and do not add to the duration of the initial loan period i.e. there are NO fees on loan extensions.

As collecting via Direct Debit can often leave people overdrawn with their bank, we allow our customers to pick their repayment dates and pay via cash or online transfer. This way, our customers can make flexible payments without leaving themselves out of pocket. However, it becomes the customers’ responsibility to make the payments. If a payment is continuously missed, we may arrange for an agent to make a doorstep collection. This has a fee of £50.00

Please refer to our Terms & Conditions document for more detailed information.

There are NO Late Fees for Students and people in receipt of state benefits.

A £50.00 admin charge will be applied to your account if:

• You fail to notify us that your payment will be late on 3 occasions. The charge will be applied and your account will be closed immediately.
• After 3 overdue payments, a high-risk flag will appear on your account.

**********5 WORKING DAYS NOTICE MUST BE GIVEN**********

Late fees are charged from and including the due date up until the day prior to the actual payment date. Exemptions require documented proof showing why payment is late.

You will ALWAYS receive a reminder via text and Email at least 7 days before your scheduled repayment. This is your notice period to inform us of any expected overdue payments.

5+ working days’ notice:	FREE*
Less than 5 days’ notice:	Late fee minimum of (5 days – notice period)
On the day:	Late fee minimum of 5-day notice period
No Notice/Unauthorized:	5-day notice period + Late fee charged per day up to 7 days until account closure

Late Fees are charged at 0.8% (L) per day.

From time to time, we may alter the interest rates and fees set out in this leaflet. When we alter our interest rates, we will notify you personally