Questions before you borrow?

Seed Jamaica is a people-first, digital microfinance company that provides loans to the everyday person in Jamaica. From the banked, to the underbanked and unbanked, we know how hard it is to get a loan from traditional institutions. We exist to provide access to finance to all Jamaicans.

One of the reasons many people do not qualify for a loan at a typical financial institution is that banks have limited information on them. The main information they often end up with is a credit report, which shows borrowing history, both good and bad.

But is that an adequate summary of who you are? At Seed, we will not ask you for a credit report. We want to see you for who you are, and to do that we need to collect enough data to make the best decision for your situation.

1. Visit our platform at www.seedja.com.
2. Complete your profile by answering questions on these areas of your life:
   • Demographic
   • Income
   • Debt
   • Employment
   • Expenses
3. Submit supporting documents so we can verify that the information you submitted is true.
4. We review your profile, accepting or rejecting the information you submitted.
5. Once we accept and verify all your information, our system automatically generates a loan offer based on your specific datasets. If we do not feel you qualify for a loan, you will be notified with an action plan for how to improve your financial situation.

There is no application form because you are more than an application. We have a reverse loan process where you first provide your information by completing your profile. Once your profile is complete, you will receive a loan offer or be advised if you did not qualify for a loan.

Whether you get a loan offer or not, once your profile is complete, you become a Seed customer and will enjoy additional benefits to come.

If you qualify for a loan, the offer you receive will include:

• Maximum amount you can borrow, with the choice to borrow less
• Interest rate
• Tenure
• Monthly payment
• Associated fees

Loan amount

Our maximum loan amount is $500,000.

Tenure

Our loans are for short-term purposes with a maximum tenure of eight months.

Rates

Our loans are calculated using an add-on interest rate system. We do risk-based pricing and each individual receives their own interest rate. Rates start at 4% monthly.

Fees

We charge a processing fee that is deducted from the proceeds of the loan. No money is required from you upfront.

Repayments

Payments by default are made over the counter through our partner Paymaster. You can visit any Paymaster island wide and make payments on your loan.

Your loan agreement will have your full loan details. You may also choose salary deduction or standing order payments for ease of repayment and be rewarded for those choices.

Collateral

All our loans are unsecured, so no collateral needs to be pledged.

As we continue to grow our client base and our capital base, we will be able to offer more solutions to the market, such as loans for asset purchases like cars or land, and loans for business purposes.

1. Identification documents:
   • Picture
   • ID picture, such as driver's licence, passport, or voter ID
   • Proof of address
2. Educational document, such as degree awarded, school leaving certificate, certification, or similar document.
3. Proof of income:
   • Payslips
   • Bank statement showing income for self-employed persons
4. Occupational information:
   • Job letter indicating where you work and confirming income and duration
   • Business registration documents for the self-employed

There may be other documents requested by the system, but the above are key.

The process is up to you. As long as you have all the required documents, the full process can be completed in as little as 20 minutes. However, we know you may not have all the required documents right away, so you can log in and upload the documents whenever you want to complete your profile.

Once your profile is complete and all documents are verified, you receive a loan offer decision within minutes.

After accepting a loan offer, a loan contract is prepared for signing. Once the contract is signed by the client, the money is disbursed within 24 hours.

We can do cash disbursal through our partner Lasco Financial. You can visit your closest Lasco Money location and present your ID and other particulars to access cash.

We are online, so you can access us anywhere by visiting www.seedja.com. You can also find us on Instagram and TikTok, and you can reach out with any questions.