Loan terms and conditions

Applying for a loan from Loan Edge

Members of Loan Edge who are 18 years of age or over may submit loan applications to the Loan Edge.
Non-members may also apply to borrow. As a condition of any approved loan, non-members will be required to become a member of Loan Edge and as such to meet and maintain minimum membership requirements in terms of savings.
We offer a variety of ways to apply for a loan from Loan Edge. Current members who have registered for our secure online banking facilities can submit their loan applications online. Loan applications can also be taken over the phone with our Member Services Team on hand to guide you through the application and answer any questions or queries you may have. Alternatively, paper applications can be completed and posted in to the Loan Edge office or handed in to us.
In order to comply with money laundering regulations, before we provide any service, we may search the records of one or more registered credit reference agencies who will provide us with information from the Electoral Register and any other data appropriate to the search.

The approval process

Loan Edge is a responsible referrer. We give every loan application we receive careful consideration and make a decision based on the income and expenditure and overall ability to repay the loan. We have a duty to each loan applicant to ensure that any loan approved, does not result in them facing financial difficulties and a struggle with repayments. We also have a duty of care to all our members and have to ensure therefore that we take no undue risks with our members’ money.
It is important to highlight that as a financial organisation, we reserve the right to decline certain applications. If we do reject an application, this will be following an assessment of the application by our personal lending team. A loan refusal simply means that on this occasion we feel unable to offer the amount of loan that has been requested. In some circumstances, we may offer a reduced amount.
Refund request can be initiated through . All refund requests must be made within 60 days of purchase. We will process your request within 15 to 25 business days of receiving all the information required for processing refund like reason for refund, bank details for processing request, etc.”

Proof of income

When assessing a loan application, we may require proof of income and copies of recent bank statements. As a general rule, for loan applications between $1,000 and $2,500, we will be looking for one month’s proof of income and a recent bank statement. For loans in excess of $2,500, two month’s proof of income and two months recent bank statements will be required.