Frequently Asked Questions
How much can I borrow?
This amount will be determined by your financial standing after an assessment is done. Employees may borrow as little as $10,000 and entrepreneurs may borrow as little as $60,000. The maximum lending amount for personal loans is J$2,000,000 and for business loans it is $J4,500,000.
What are the basic requirements needed in order to apply for a loan with First Union Financial?
- Government issued Identification (ID))
- TRN
- Proof of address
- A valid email address or mobile number
- Last Three months’ pay slip
- Print out of your bank statement for the last 3 months
- Job Letter or Staff ID*
Are there any hidden charges?
At First Union Financial we guarantee that you will only pay the interest you agreed to in your contract. We do not add any charges or fees outside of what is outlined on your promissory note/loan agreement.
Will there be a credit check as part of my application?
We do not require a credit report for personal loan and micro business loan but this is required when applying for a maxi business loan.
Can I apply for a loan on the weekends or in the evenings when the offices are closed?
You can apply online for a loan at any time convenient for you. You may visit our website and apply online or you may visit any of our branches or agents island wide to get started.
After applying, how long does it take for me to be approved for a loan?
Same day approvals are possible, however, this will be dependent on factors such as; how long it takes you to submit all the required documents and how long your employer takes to verify your work status.
What is E-Link?
This is a form provided by National Commercial Bank to First Union Financial Limited to facilitate your loan payment. This form is issued to you by First Union Financial Limited, once you are approved for a loan you will then take this form to any NCB branch and have them sign and authorized.
What is Scotia Direct Debit?
Scotia direct debit is a facility provided by Bank of Nova Scotia Jamaica (BNS), which is similar to NCB E-Link provide us with the ability to collect your payment electronically.
Can I settle/payout my loan early?
Yes, you can settle your payment early. If you would like to repay your loan early, please speak to representative from our collections department by calling 876-926-2669 or 876-754-4112.
What happens if I miss a payment?
If you miss a repayment on your loan, please speak to one of our loan officers at 876-926-2669 or 876-754-4112. If you pay late, pay less than the contracted amount or miss a payment, you may contact our office for details on any fees that may apply. However, all fees are outlined in your promissory note up on approval for a loan.
Can I change my repayment date?
Yes, you can, depending on the circumstance. You would need to speak with a loan officer at 876-926-2669 or 876-754-4112.
Can I log in and manage my loan online?
Yes, you are able to manage your loan online.
