FAQ

What are the requirements for a loan at Big Edge?

• 2 current/up to date photo IDs (Passport, Social Security Card, Driver’s License)
• Recent Job Letter
• Most recent salary slip

Who is eligible for a loan at Big Edge?

• Dominican Citizen
• 18 years of age and over
• Permanently employed
• Applicant should be able to assign a salary deduction for payment

What amount can I apply for?

• Minimum amount is $300.00 and the maximum is $12,000.00
• N.B. The maximum is pre-determined by Management.

If one is in a financial jam, would they still be able to qualify for a Big Edge loan?

Big Edge would be happy to assist by consolidating your debt and allow you to have extra cash at your disposal.

How long does the process take?

The application takes only a few minutes and approval is almost instant (except on rare occasions).

How is the money given?

A cheque which is drawn on the National Bank of Dominica (NBD) is made payable to the applicant.

What is the interest rate?

Although the normal rate is 3% per month, according to the loan particulars, the rate can be as low as 1.5%.

Does the loan need to be cash secured?

No this is not required for a Big Edge loan.

Is a co-signer needed for the loan?

This is only required under rare circumstances.

If a customer already has a loan, is it possible to refinance the loan (obtain more money)?

This is possible, but terms and conditions apply.

What fees are collected for the loan?

The fee varies based on the amount of the loan.

What happens if an applicant has no net pay?

Big Edge is very flexible and will try to work with the applicant to assist with their financial needs.

Is there a late fee if the loan is not paid on time?

There is a late fee of $25.00 which is charged every 10 days after the payment date, if nothing has been paid.

If the customer is unable to meet their financial obligations due to unfortunate circumstances, what should they do?

Please ensure that you contact Big Edge, either by phone or in person, in the event of any unforseen circumstances to discuss a revised payment plan to suit you best.

How much does it cost to borrow?

A very small application fee which is based on the amount of the loan.

Why do you need a job letter?

To ascertain one’s employment and stability.

Does Big Edge Financial require a credit check?

In very rare cases when the institution wants to verify the information given.

When will I receive my loan?

The loan is granted in less than 2 hours.

What if I have a query?

We are always happy to deal with a query.

When is my loan payment due?

On your next payroll but this is dependant on the date of the loan.

How do I repay my loan?

All loans are paid via salary deduction.

How is my loan amount determined?

It’s based on your job stability and income.


^