Our payroll loans aren’t just numbers; they’re the plans that customers make and the potential they have to reach their goals. Bayport offers short term loans for when our customers need a quick cash boost, medium term loans for a larger loan that gives more time to repay, and long term loans for maximum credit over a longer repayment period. We are committed to helping our customers make a difference to their lives every day through responsible access to credit.

• Our customers use our range of loans for:
• Education
• To build or improve their homes
• To start or expand a small business
• For agriculture or to buy land
• For personal emergencies

At Bayport we believe in responsible credit; we therefore make sure that our customers understand the terms of repayment and encourage them to borrow for the right reasons.

The car title loan gives customers the opportunity to borrow with their cars as collateral. What sets this offer apart from similar loans in Ghana, is the fact that customers can keep driving their cars while they pay back the loan, and that it only attracts 5.5% interest per month.

Another useful feature of the car title-backed loan is that customers can use it to buy a vehicle. The customer puts up at least 55% of the purchase price and Bayport will finance the rest up to GHS 20,000.

A consolidation loan allows customers to take out a loan that covers the debt they have with other credit providers. Bayport settles the other debts on the customer’s behalf, leaving him or her with only a Bayport loan repayment.

In many cases, the consolidation means a lower monthly instalment and customers often save on interest as well.

The consolidation loan comes with a number of other benefits as well:

• Depending on their financial situation, customers can qualify for a loan that is bigger than their consolidated debt amount. If they choose to take the bigger loan, they have extra cash to work with.
• Customers can get a free My Money account into which Bayport will pay the extra cash if they choose to take out a loan that is bigger than the consolidated amount.
• If customers open a My Money account and arrange for their salary to be paid into it, they could qualify for a bigger loan and better terms.

To make the most of life’s big moments, customers should be able to borrow differently. With Bayport they can by taking 3 easy steps that can BOOST their cash flow and help them manage their money.

1. They can take out a Bayport personal loan to suit their needs.
2. Apply for a My Quarterly Budget Booster for access to cash flow boosts every three months at only 3% interest per month.
3. Apply for a My Monthly Budget Booster facility to avoid payday loans and take control of their cash flow through monthly cash boosts at 0% interest and no upfront charges.

The power of borrowing differently:

• A Bayport personal loan to help take care of school fees. A quarterly boost for uniforms, books and stationery. A monthly cash boost for when they outgrow their school shoes!
• A Bayport personal loan to pay the deposit on a new place. A quarterly boost to buy that perfect couch. A monthly cash boost for those surprises like a burst water pipe or faulty wire.

Our group lending is designed to meet the needs of occasional traders, mostly women and members of existing trade-based associations, who live and work close to each other. Many of these women are involved in small business and petty trading, but most of their borrowing is for consumption purposes.

Groups that meet the minimum membership requirement, are accepted in the Bayport Micro training programme where they undergo six week of training on the product and, especially, on how to run their group. If the group stays together and works well during this period, it graduates from the training. After that, members become eligible for a series of loans that commence at a small amount and increase over a period of time, provided the loans are repaid successfully.

The individual loan product is aimed at full-time traders who are reluctant or unable to give up their time to form groups. Specially trained individual loan officers assess loan affordability by compiling a forecast of each applicant’s cash flow position over the course of the loan.

Bayport Micro also identified a niche for a new credit product: experienced commercial drivers with the ability to start up on their own but who don’t have the finances to do so.