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Most student daily problems are mostly solved through the use of money.
Traditionally, there is no financial solution that offers monthly finance support to students regardless their credit score.
That is why our co-founders created Credent 😃.
Welcome to Credent, a micro-lending platform that is dedicated to supporting Namibian university students. Our mission is to provide short-term micro-financing services to students who are funded by the government’s student financial assistance fund, Namibia Student’s Financial Assistance Fund (NSFAF).
We understand that NSFAF students are often financially disadvantaged and may struggle to meet basic needs such as enough food for the month, limited financial resources for personal or family emergencies, not enough funds for monthly transportation to and from campus & rent, and cannot afford basic clothing, textbooks, laptops, and stationery plus some are even bread winners with their little non tuition refund money they receive from NSFAF causing them not to have money to cover the essential education needs.
That is why we created Credent – to provide students with access to funds throughout the year, so they can cover these essential expenses and focus on their studies. Our loan process is straightforward, and our interest rates are in line with the Usury Act, 1968 (Act No. 73 of 1968), ranging from 1% to 30%. Students can borrow money to be repaid monthly for a period not exceeding five months, and our loans are only available to students who have an expected monthly refund from NSFAF.
At Credent, we prioritize transparency, authenticity, and affordability. We carefully verify each application to ensure that the loan is feasible for the student and that all the documents submitted are genuine. Our loan agreements are comprehensive and clearly state all terms and conditions, including amounts loaned, interest charged, and repayment terms. We believe that every Namibian student deserves access to education without worrying about their basic needs. That’s why we are committed to providing affordable and accessible micro-financing services to NSFAF students.
Additionally, fill in the required info, and attach the relevant documents when applying to avoid your email application going to our spam inbox.
Inclusive
Credent promotes financial inclusion by offering loans tailored to the diverse needs of Namibian university students, regardless of their socioeconomic background or circumstances.
Empowering
Credent empowers students to overcome financial barriers and pursue their educational goals by providing them with accessible and affordable loan options.
Innovative
Credent employs innovative technology to streamline the loan application process, making it easier and more convenient for students to access financial assistance.
Transparent
Credent operates with transparency, ensuring that students understand the terms and conditions of their loans and providing clear information about repayment obligations.
Terms of service for CREDENT
2. Loan Amount and Repayment: The maximum loan amount that can be granted by CREDENT is 100% of the expected monthly refund if borrowing for a month or 100% (including interest charged) if borrowing over a period not exceeding 5 months. The repayment period for the loan should not exceed five months. The loan and the interest charged will be deducted from the student's bank account once the refund money has been paid into their account by NSFAF.
3. Interest Rate: Interest rates charged on the loans will range from 1% - 30% as prescribed by the Usury Act, 1968 (Act No. 73 of 1968).
4. Application Process: The application for a loan can be made online or at the CREDENT offices. The application requires the following mandatory documents: certified ID, proof of registration at a recognized tertiary institution in Namibia, funding agreement with NSFAF, bank statement, and the loan amount applied.
5. Verification and Approval Process: The verification process of the mandatory documents will be done to ensure their authenticity and affordability. The approval process of the loan amount to be serviced will be done based on the eligibility criteria and the affordability of the loan.
6. Loan Agreement: A loan agreement will be signed by both contracting parties (CREDENT and the student) outlining the terms and conditions of the loan, including the amount loaned, interest charged, repayment terms, personal information, and any other relevant terms.
7. Debit Order: A debit order form will also be signed by the student to authorize the direct debit of their bank account with the principal and interest charged.
8. Default: Failure to make payments on time will result in default. CREDENT will take appropriate measures to recover the outstanding amount owed.
9. Changes to Terms: CREDENT reserves the right to change these terms and conditions at any time without notice.
10. Disputes: Any disputes arising from the loan agreement will be resolved through negotiation between CREDENT and the student. If a resolution cannot be reached, the dispute will be referred to an independent arbitrator for arbitration.
11. Limitation of Liability: CREDENT will not be liable for any losses or damages incurred by the student as a result of using CREDENT's services.
12. Governing Law: These terms and conditions will be governed by and construed in accordance with the laws of Namibia.
Frequent ask questions
A: Our micro-lending solution is tailor-made to service Namibian university students who are financed by the government's student financial assistance fund and are expecting a monthly refund. To be eligible for a loan, students must provide proof of registration at a recognized tertiary institution in Namibia, an academic record, and a funding agreement with NSFAF.
2. Q: What types of loans does Credent offer?
A: We offer short-term micro-financing services that range from 1 month to 5 months, depending on when the student applies and gets approved and paid the loan money. Interest is charged at rates prescribed by the Usury Act, 1968 (Act No. 73 of 1968), which can range from 1% to 30%.
3. Q: How much can I borrow from Credent?
A: The loan amount will depend on the expected monthly refund received by the student from NSFAF. Students can borrow anywhere from 1% to 100% of the expected refund, depending on the duration of the loan.
4. Q: How do I apply for a loan?
A: Students can apply for a loan through our online platform or in person at our offices. The application requires a certified ID, proof of registration, a funding agreement with NSFAF, and a bank statement ranging from 3-6 months.
5. Q: How long does it take to get approved for a loan?
A: The verification and approval process can take up to 15 - 30 minutes, depending on the volume of applications we receive.
6. Q: How do I pay back my loan?
A: Once the refund money has been paid into the student's account by NSFAF, the capital, and interest charged on the loan will be deducted automatically from their bank account through a direct debit agreement.
7. Q: What happens if I am unable to repay my loan?
A: If a borrower is unable to repay their loan, we will work with them to come up with a repayment plan that is manageable for their financial situation. However, failure to repay the loan may result in legal action or reporting to credit bureaus, which can negatively affect their credit score.
8. Q: How does Credent ensure the security of my personal and financial information?
A: We take the privacy and security of our customers' information seriously. We use encryption technology to protect data transmitted through our website and comply with all applicable laws and regulations governing the handling of personal and financial information. Still have questions, contact us at our office number or email address.
