Policy

If repayment of the loan exceeds the approved time frame, consideration will be given to whether an extension was granted. A penalty fee of 20% will be applied starting three business days after the final due date. If the delay persists, the fee will increase to 30% after two weeks. Continued non-compliance with the repayment terms will result in a penalty increase to 45%, followed by potential legal action against the borrower, which could lead to refusal of future business transactions. Please note that these penalties will be added to the original loan amount and principal. Additionally, the organization reserves the right to take possession of items of equivalent value until the loan is settled or to use them as collateral to close the loan.

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