FAC)
Our streamlined process ensures quick decisions, clear terms, and no unnecessary delays — so you know exactly what to expect. With competitive interest rates and flexible repayment plans, we make borrowing simple and stress-free.
Frequently Asked Questions
Get answers to all your questions about Quick Action Finance loans, fees, requirements, and application processes.
Browse QuestionsBrowse by Category
Find answers organized by topic for easier navigation
Fees & Charges
8 Questions
Application Process
10 Questions
Eligibility
7 Questions
Repayment
8 Questions
Documents
5 Questions
General
6 Questions
Security
4 Questions
Emergency Loans
6 Questions
Important Notice About Fees
Yes, we charge an upfront fee before disbursement of funds. This administration fee covers the cost of processing your application, credit checks, and administrative work. The fee is deducted from the loan amount before disbursement. All fees are clearly disclosed in your loan agreement with no hidden charges.
Fees & Charges
Yes, we charge an administration fee upfront before disbursing funds. This fee is deducted from the approved loan amount and covers:
- Credit assessment and checks
- Administrative processing costs
- Documentation preparation
- Compliance verification
The fee amount depends on the loan size and is clearly stated in your loan agreement before you sign.
The administration fee varies based on the loan amount:
- R10,000 - R50,000: 5% of loan amount
- R50,001 - R200,000: 5% of loan amount
- R200,001 - R500,000: 5% of loan amount
- R500,001 - R1,000,000: 4% of loan amount
- Over R1,000,000: 3% of loan amount (negotiable)
Example: For a R25,000 loan, the administration fee would be R1,250 (5%). You would receive R22,500 after the fee deduction.
No, we have a transparent fee structure with no hidden charges. All fees are clearly disclosed in your loan agreement, including:
- Administration fee (upfront)
- Monthly interest charges
- Late payment penalties (if applicable)
- Early settlement fees (if applicable)
We are registered with the National Credit Regulator (NCRCP10485) and comply with all regulations regarding fee disclosure.
If your loan application is declined, you don't pay the administration fee. The upfront fee is only payable once your loan is approved and you accept the terms.
Our process:
- Submit your application (no fee at this stage)
- We conduct preliminary checks (no charge)
- If preliminarily approved, we provide loan terms including fees
- You decide to accept or decline the offer
- Only if you accept do we process the administration fee
No, the administration fee is always deducted from the loan amount before disbursement. We do not accept separate payments for administration fees.
This policy protects both you and us:
- For you: No need for upfront cash payment
- For us: Ensures fees are collected as agreed
- For both: Simplified payment process
Warning: Be wary of any lender who asks for separate cash payments before disbursing funds. Legitimate lenders deduct fees from the loan amount.
Yes, there may be early settlement fees depending on when you settle. Our policy is:
- Within first 6 months: 5% of outstanding balance
- 6-12 months: 3% of outstanding balance
- After 12 months: No early settlement fee
Early settlement can still save you money on interest, even with the fee. Use our online calculator to see potential savings.
Late payments incur penalties as follows:
- 1-7 days late: R150 + interest on overdue amount
- 8-30 days late: R300 + interest on overdue amount
- Over 30 days late: Additional 2% monthly on outstanding balance
We recommend contacting us immediately if you anticipate payment difficulties. We may offer payment arrangements to avoid penalties.
The administration fee is non-refundable once deducted. This fee covers costs incurred in processing your loan application, including:
- Credit bureau checks (we pay for each check)
- Staff time for processing and verification
- Document preparation and compliance checks
- Bank transfer fees and administrative costs
These costs are incurred regardless of whether you later decide not to take the loan after approval.
Application Process
You can apply through multiple channels:
- Online: Complete our secure online application form
- Phone: Call 010 023 4857 to apply with an agent
- WhatsApp: Message +27 63 358 5685 to start application
- Email: Send required documents to apply@quickactionfinance.co.za
The quickest method is online, with approval possible within 24 hours for complete applications.
Approval times vary by loan type:
- Personal/Emergency Loans (R10,000-R200,000): 24-48 hours
- Business Loans (R50,000-R1,000,000): 3-5 working days
- Large Business/Home Loans (R1M+): 7-10 working days
Complete documentation and quick responses to our queries speed up the process.
Yes, we accept applications from self-employed individuals. Additional requirements include:
- Latest 6 months bank statements (business account)
- Financial statements for the past 2 years
- Proof of business registration
- Tax clearance certificate
- 3 months of invoices/contracts showing income
Self-employed applicants may need to provide collateral for larger loans.
Yes, we conduct credit checks on all applications. We check with major credit bureaus to:
- Verify your identity and credit history
- Assess your creditworthiness
- Determine appropriate loan terms
- Comply with regulatory requirements
Multiple credit checks in a short period can affect your credit score, so we recommend applying only when ready.
Our 5-step process:
- Step 1: Initial review (2-4 hours) - We check completeness
- Step 2: Credit assessment (4-24 hours) - We run credit checks
- Step 3: Verification (4-24 hours) - We verify documents and income
- Step 4: Approval decision (2-4 hours) - Committee reviews
- Step 5: Disbursement (24 hours) - Funds transferred after fee payment
You'll receive SMS/email updates at each stage.
Yes, you can track your application in three ways:
- Online Portal: Log in with your application reference number
- SMS Updates: We send automatic status updates
- Phone: Call 010 023 4857 with your reference number
- Email: Email support@quickactionfinance.co.za
You'll receive a unique reference number when you apply. Keep this for all inquiries.
Contact us immediately if you need to make changes. Depending on the stage:
- Before assessment: We can update details easily
- During assessment: Changes may delay processing
- After approval: Changes may require re-assessment
Common changes we can handle:
- Loan amount adjustment
- Repayment term change
- Bank account updates
- Contact information corrections
No, you can only have one active application at a time. Our policy:
- One application per person/entity
- Wait for decision on current application before applying again
- Multiple applications will be rejected
If your application is declined, you can reapply after 30 days or address the reasons for decline first.
No, there is no fee to apply. The only fee is the administration fee deducted upon approval.
Important: Never pay any fees to submit an application. Legitimate lenders only charge fees after approval, deducted from the loan amount.
We notify you through multiple channels:
- SMS: Immediate notification to your mobile
- Email: Detailed approval letter with terms
- Phone Call: Follow-up call from our team
- Online Portal: Status update in your account
The approval letter includes all terms, fees, and instructions for accepting the offer.
Eligibility Requirements
Basic requirements for all loans:
- South African ID or valid passport with work permit
- 18 years or older
- Proof of residence in South Africa
- Active bank account in your name
- Proof of income (minimum R5,000 monthly)
- Valid contact details (phone and email)
Additional requirements apply for specific loan types and amounts.
We consider various credit profiles:
- Excellent (650+): Best rates, highest amounts
- Good (600-649): Competitive rates, good amounts
- Fair (550-599): Higher rates, lower amounts
- Poor (Below 550): Case-by-case, may require collateral
We look at overall financial health, not just credit score. Regular income and low debt-to-income ratio can compensate for lower scores.
Yes, we consider applications with bad credit. Options include:
- Smaller loan amounts (R10,000-R25,000)
- Shorter repayment terms (6-24 months)
- Higher interest rates to offset risk
- Collateral for larger amounts
- Co-signer/guarantor with good credit
Successful repayment of a Quick Action Finance loan can help rebuild your credit.
Yes, minimum monthly income requirements:
- R10,000 - R50,000 loans: R5,000+ monthly income
- R50,001 - R200,000 loans: R10,000+ monthly income
- R200,001 - R500,000 loans: R20,000+ monthly income
- R500,001+ loans: R35,000+ monthly income
We also consider debt-to-income ratio. Total debt payments should not exceed 40% of gross monthly income.
Yes, pensioners and retirees can apply. Requirements:
- Proof of pension/retirement income (minimum R5,000 monthly)
- Bank statements showing regular pension deposits
- Maximum age at loan end: 75 years
- Maximum loan term: 60 months
- Maximum amount: R100,000 (depending on income)
Pension-backed loans have slightly higher rates due to increased risk.
Students can apply with conditions:
- Must be 18+ years old
- Require proof of income (part-time job, bursary, or parental support)
- Maximum amount: R25,000
- Parent/guardian co-signature required for full-time students
- Proof of registration at recognized institution
Student loans are for education-related expenses only and require proof of intended use.
Yes, with valid work/residence permits. Requirements:
- Valid passport
- Valid work permit with at least 12 months remaining
- Proof of South African residence
- South African bank account
- Employment contract showing permanent position
- Maximum loan: R100,000 (higher with collateral)
Additional checks apply, and processing may take longer.
Still Have Questions?
Contact our friendly team for personalized assistance. We're here to help you understand everything about our loan process.
24-hour approval · Transparent fees · Loans from R10,000