1. Regulatory Status & Introduction
Brightminds Consultancy (Pty) Ltd t/a Brightminds Microlending (Co Reg: BW00004667046) is a registered Non-Banking Financial Institution regulated by NBFIRA. All loan applications are subject to affordability assessment and approval.
2. Responsible Borrowing Warning
Please note that borrowing MORE than you can AFFORD to repay can lead to financial difficulties. Borrowers are required to provide accurate, truthful, and complete financial and employment information.
3. Loan Range & Compounding Interest Rates
Loans range from P500 to P6,000 for repayment periods of 1 to 3 months. Interest is calculated at a 25% compounding monthly rate per month on approved loan amounts.
4. Mandatory Application Documents
All qualifying applicants must submit: (1) 3 months official bank statement, (2) Confirmation letter of employment, (3) Certified copy of Omang ID or Passport (with valid residence/work permit for foreigners), and (4) Current payslip.
5. Repayment Obligations
Repayments must be made in accordance with the agreed repayment schedule. Late or defaulted payments may incur administrative charges and affect your credit standing with credit bureaus.
At Brightminds Microlending, we are committed to protecting your personal information and respecting your privacy.
We collect personal information that you voluntarily provide through our website, including your contact details, identification information, employment details and financial information where relevant. This information is used to:
We may share your information with credit bureaus, regulators, financial institutions, service providers and other third parties where required for these purposes or by law.
We take reasonable steps to safeguard your personal information and will process it in accordance with applicable laws and regulatory requirements.
If you have any questions about this privacy notice or your personal data, please contact our Data Privacy Officer at admin@bmmicrolending.co.bw.