Leased Lines

“We are totally committed to responsible lending”


 

About KC

COMMITTED TO RESPONSIBLE LENDING

We provide personal loans when people have urgent cash flow problems and need to borrow some cash in a hurry.
Since the inception of formalised labour in the economy the need for credit in this sector has always existed. These workers faced serious obstacles when they needed some extra money as they had no credit history, no security or collateral and limited accessibility to banks. The onus for extending credit to individuals in this sector thus landed on the shoulders of the companies where these people were employed.

Companies were not necessarily equipped to handle this admin burden.

They also had to deal with:

- Availability of sufficient funds
- Budget constraints
- Negative impact on employee relations if loans are declined
- Time spent away from the workplace to make applications externally

Providing loans to employees also puts strain on the company’s
working capital.

Companies are now forced to register with the National Credit Regulator (NCR) and pay annual registration fees. This comes with very prescriptive record-keeping and reporting requirements. After in-depth research into the borrowing needs of this sector, Vecto Finance was formed in 1999 to provide accessible, affordable and effective cash loans to employed South Africans. Vecto steered away from the approach adopted by banks of large amounts over long periods. We instead opted for a product that took the short-term needs of this sector into account.
We assist employees with personal unsecured loans at no risk to the employer.

 

Leased Line Benefits

OUR SERVICES
Personal loans for:

100% Target Service Avalibility

  • HOME IMPROVEMENTS

  • EDUCATION

  • EMERGENCIES

  • For amounts between R500 up to R10,000

  • Repayable over 5 or 12 months, 20 or 40 weeks, 10 or 20 fortnights

  • On an unsecured basis

  • At a fixed interest rate as prescribed by the NCA, currently 32%

WHY USE VECTO?

100% Target Service Avalibility

  1. FAST AND CONVENIENT
    We give you a decision in a couple of hours and then pay the cash directly to your bank account within 24 hours.

  2. TRANSPARENT
    We will always show you the total cost of repayment before you apply.

  3. RESPONSIBLE
    You will never be sold, encouraged or forced to borrow more than required

  4. SHORT TERM
    You will always be encouraged to settle your debt quickly. We do not charge early settlement fees and there are no catches.

  5. SELECTIVE
    We perform a proper credit check and make the best possible lending decision based on your circumstances.

  6. FAIR
    We abide by both the spirit and the word of the National Credit Act.

  7. RESPONSIVE
    We are easily contactible by phone, fax or email during business hours and you will receive a satisfactory response to your query within 24 hours.

HOW DO YOU APPLY?

100% Target Service Avalibility

  1. Get an application form from your Salary / HR Department

  2. Make sure the form is completed in full

  3. Double check your ID Number and Bank Account details

  4. Sign the form in the space provided (applicant)

  5. Give the form back to your Salary / HR Department

  6. Your Salary / HR Manager will sign the form after checking that everything has been completed correctly (company)

  7. Your Salary / HR Manager will then fax or email the application form to Vecto Finance

  8. Vecto Finance will do a credit risk assessment and if satisfactory will process the loan and deposit the money into your bank account within 24 hours of us receiving your application

  9. The instalment will be deducted from your salary via the payroll and this amount will be paid over to Vecto Finance

EXPERT SUPPORT

Why Sewell Group chose to work with KC

"We need a connection that supports our infrastructure and is totally robust. We've had some experience of other providers but only KC can deliver the level of reliability we need at the right price."

Glen Poskitt,
Head of Technology, Sewell Group

Why Sewell Group chose an Internet Leased Line from KC

Technology based service features like cloud computing are a major part of Sewell Group's delivery, speed and reliability needs, all of which are business critical. An Internet Leased Line from KC connects Sewell Group directly to the internet through a dedicated fibre connection that guarantees high speeds and 99.85% service availability.

STEP 1 CLIENT ENROLMENT

The employer provides Vector Finance with a Specimen Signature Letter agreeing to participate in the loan schemes and confirming that payroll deductions will take place for repayments. To qualify as a valid application, all applications sent to us must be signed by an approved signatory (as stipulated on the “Specimen Signature Letter”).

STEP 2 FORMS AND MARKETING MATERIAL

Product material is distributed by Vecto Finance
- Application forms
- Brochures which give staff an overview of the application and service delivery process
- Posters for display in canteens and on staff notice boards

Internet Leased Lines

Internet Leased lines provide dedicated internet access. They offer a business class internet connection and are suitable for business customers who rely on the internet and cannot risk the delays or support levels typically associated with a normal business broadband service.

An Internet Leased Line also offers the same speeds for both uploading and downloading data, as well as permanent uncontended internet access available for your businesses exclusive use, this is known as a Symmetrical and Uncontended Service.

Leased Lines Options Available to you

KC offers two choices of Leased Lines. Fibre Leased Lines which offer a choice of speeds from 1Mb/s to 1GB/s. EFM Internet Leased Lines (delivered over bonded copper pairs) which offer speeds of 1Mbs to 10Mbs. Both offer high speed connection that's exclusively for your businesses use only.

Choose an Internet Leased Line if you need;

  • Guaranteed 4 hour fix time (Fibre) or 24hour fix time (EFM)
  • Guaranteed bandwidth
  • Symmetrical (same speed at the same time in both directions)
  • A choice of speeds from 1Mb/s up to 1Gb/s
  • A service delivered over fibre or copper
  • 24 x 7 x 365 customer service and support
  • Up to 100% service availability (Fibre) or 99.85% service availability (EFM)
  • Fully managed and maintained Cisco
  • Available in most areas (EFM only)

Internet Leased Lines are ideal if you need a consistent, high speed internet connection with minimal downtime.

STEP 3 SERVICE FULFILMENT

Staff member obtains the Application Form from the Salary/HR Dept.
- A copy of a recent payslip is to accompany the Application Form

STEP 4 COMPLETION AND SUBMISSION

Staff member completes form and sends it to your HR/Salary department for submission. The complete and signed application is now faxed or emailed to Vecto Finance
- Period of employment confirmed
- Basic salary confirmed
- Payroll deduction confirmed

STEP 5 CREDIT CHECK

Vecto Finance will now assess the application for approval.
- Credit checks are done
- Affordability is assessed (repayments must be affordable within 25% of their basic salary)

STEP 6 PAYMENT

Cash is paid (within 24 hours of receiving a complete application with no outstanding queries)
- Emergency Loans into the Applicants account
- Home Improvement Loans into the Applicants account (must provide a quotation)
- Education Loans into the Educational Institution account (must provide a statement)

STEP 7 CONTROL

A report is sent every Friday detailing all Loans paid out by Vecto that week
- A weekly remittance is sent out every Tuesday for weekly deductions
- A monthly remittance is sent out monthly for monthly deductions (our month runs from the 9th to the 8th of the following month), thus giving ample time for payments
- A fortnightly remittance is sent out every fortnight for fortnightly deductions.
Note to Salary / HR Manager:
- Please check and ensure that these reports agree to your records.
- Please provide Vecto Finance with a reconciliation if this is not the case.

 

 

 

 

Point to Point Leased Lines

A point to point leased Line provides a private connection between two sites.

Point to Point Leased Lines, or P-2-P Leased Lines, are a dedicated point-to-point connection solely for your use; completely isolated from any other traffic. It represents one of the most secure ways of connecting two geographical sites together.

Choose a Point to Point Leased Line if you need;

  • To use or access bandwidth intensive applications from site to site
  • To transfer sensitive data quickly and securely between two or more sites
  • A private connection between two sites that bypasses public networks making your data transfers totally secure.

Designed for companies who operate accross multiple offices which need connecting to enable local area networks to work as one and enable email, collaborative working, internet and intranet access.

 

Q WHAT IS YOUR INTEREST RATE?

A We apply a fixed annual rate of 32% as prescribed by the National Credit Act.

Q WHAT ARE YOUR TERMS?

A Depending on your salary structure, terms can be 5 months, 12 months, 20 weeks, 40 weeks, 10 fortnights or
20 fortnights.

Q HOW LONG DOES IT TAKE TO GET AN ANSWER?

A Same day.

Q HOW LONG DOES IT TAKE FOR THE MONEY TO BE AVAILABLE?

A 24 Hours.

Q DOES VECTO FINANCE MARKET LOANS TO EMPLOYEES?

A Not unless requested by the employer. We promote responsible credit granting. We will not provide credit
recklessly nor create financial hardship or over indebtedness to your employees.

Q DOES VECTO FINANCE DO CREDIT CHECKS?

A Most certainly. We strictly adhere to the National Credit Act and ensure responsible lending through credit screening and careful assessment of loan affordability.

Q CAN I HAVE MULTIPLE LOANS WITH VECTO FINANCE?

A The only additional loan you can have with your Emergency Loan or Home Improvement Loan is an Educational Loan. Alternatively, your loan needs to be paid up by 50% before you can apply for a new one.

Q ANY OTHER CHARGES?

A We charge an initiation fee in accordance with the provisions of the National Credit Act. R150 per transaction plus 10% of the amount borrowed. This is capped at R500.

 

Specification and Technical

  LOAN AMOUNT MONTHLY REPAYMENT inc. Initiation Fee TOTAL REPAYMENT TOTAL INTEREST INITIATION FEE
5 MONTH repayment

500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000

125
250
370
489
609
728
848
967
1,087
1,195

625
1,250
1,850
2,445
3,045
3,640
4,240
4,835
5,435
5,975

40
79
122
160
203
241
284
322
365
405

85
171
228
285
342
399
456
513
570
570

12 MONTH repayment

500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
9,500
10,000

56
112
166
220
274
328
382
436
490
539
589
638
687
736
786
835
884
933
983
1,032

672
1,344
1,992
2,640
3,288
3,936
4,584
5,232
5,880
6,468
7,068
7,656
8,244
8,832
9,432
10,020
10,608
11,196
11,796
12,384

87
173
264
355
446
537
628
719
810
898
998
1,086
1,174
1,262
1,362
1,450
1,538
1,626
1,726
1,814

85
171
228
285
342
399
456
513
570
570
570
570
570
570
570
570
570
570
570
570
  LOAN AMOUNT WEEKLY REPAYMENT inc. Initiation Fee TOTAL REPAYMENT TOTAL INTEREST INITIATION FEE

20 WEEK repayment

500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000

30
61
91
120
150
179
209
238
268
294

600
1,220
1,820
2,400
3,000
3,580
4,180
4,760
5,360
5,880

15
49
92
115
158
181
224
247
290
310

85
171
228
285
342
399
456
513
570
570
40 WEEK repayment

500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
9,500
10,000

16
32
48
63
79
94
110
125
141
155
169
183
198
212
226
240
254
268
282
297

640
1,280
1,920
2,520
3,160
3,760
4,400
5,000
5,640
6,200
6,760
7,320
7,920
8,480
9,040
9,600
10,160
10,720
11,280
11,880

55
109
192
235
318
361
444
487
570
630
690
750
850
910
970
1,030
1,090
1,150
1,210
1,310

85
171
228
285
342
399
456
513
570
570
570
570
570
570
570
570
570
570
570
570
  LOAN AMOUNT FORTNIGHTLY REPAYMENT inc. Initiation Fee TOTAL REPAYMENT TOTAL INTEREST INITIATION FEE
10 FORTNIGHT repayment

500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000

61
123
183
242
301
360
419
478
538
591

610
1,230
1,830
2,420
3,010
3,600
4,190
4,780
5,380
5,910

25
59
102
135
168
201
234
267
310
340

85
171
228
285
342
399
456
513
570
570
20 FORTNIGHT repayment

500
1,000
1,500
2,000
2,500
3,000
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
7,500
8,000
8,500
9,000
9,500
10,000

32
65
96
127
158
190
221
252
283
312
340
368
397
425
453
482
510
538
567
595

640
1,300
1,920
2,540
3,160
3,800
4,420
5,040
5,660
6,240
6,800
7,360
7,940
8,500
9,060
9,640
10,200
10,760
11,340
11,900

55
129
192
255
318
401
464
527
590
670
730
790
870
930
990
1,070
1,130
1,190
1,270
1,330

85
171
228
285
342
399
456
513
570
570
570
570
570
570
570
570
570
570
570
570

Request a Quote

info@vectofinance.co.za

www.vectofinance.co.za

Tel 021 852 9797 Fax 021 852 9151

Unit G02
Parc Du Links
9 Niblick Way
Somerset West

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