Have you seen the loan application animation? If not take a minute to look at it before reading on. 

So, if you decide to apply for a petitecredit loan, keep in mind that it is a small petite loan of up to USD 500. In addition to the loan amount, you would need to provide a business proposal and/or motivation letter. 

Motivation letter/Business proposal

A motivation letter is a letter detailing the reason why you need a loan. An example is that you need the money to pay off an emergency hospital bill or to start a small business. Tell us about your situation or circumstances. 

If you are an entrepreneur or business borrower, your proposal should include your nature of business, activities, and business plan. 

You can propose to Petitecredit your repayment plan. We prefer a repayment plan of no longer than 18 months. As the loan is interest-free, the amount to be repaid will be the same principal amount that was borrowed. 

Our application requires that you include a guarantor. The guarantor should be a third party that is a non-family member. The guarantor is not required to provide any assets or collateral as a guarantee. The primary reason for a guarantor is that they are supportive and agree with the borrower’s plans and loan application.