Access To Credit

Bayport Offers Hassle-Free Access To Credit

Bayport Financial Services has been providing Africans with affordable, hassle-free access to credit since 2002.  Access to credit is a luxury in Africa, a relatively immature financial market.  Citizens with bank account may obtain credit from commercial banks, but unbanked people have to rely on microfinance institutions that are often forever fighting for survival or the ever-present loan sharks who charge exorbitant interest rates, often running into the hundreds of percent per year.

Bayport offers unsecured credit, which means that we do not require deposits, post-dated cheques, collateral, sureties or guarantees.  You do not even have to have a bank account and there is no minimum loan amount.  We give you access to unsecured credit through partnerships with your employer and/or trade union, which also acts as our collection arm, deducting the money you owe us from your wages before paying you.  This is how we are able to offer you safe credit, maintain our credit quality and remain in business to be there when you need us, years from now.

So far, this has proven to be the only unsecured credit model to be successful in Africa and while we have to remain financially viable and mitigate our risks by charging more interest than commercial banks, on the flipside, we offer unsecured credit to people who never had it, at far lower interest than the loan sharks charge.  Our vast branch network numbers 235 and we have many travelling mobile units too.

This is how Bayport Financial Services can offer ordinary Africans responsible, affordable and hassle-free access to credit to empower themselves.  For more information, contact us.