Different072017

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Index 3 5 11 17 19

Administration From the Editor Microlending in South Africa Quick access to funding Problematic debtors

Advertisers: 6 The Differentiator 8 Same day loans 12 Vehicle product 14 Seqiestration?

20 The Differentiator 22 Vanessa Nicolau

Advertising To advertise contact Theo Koekemoer - theo@thedifferentiator.co.za or Johan van Zyl - johan.vanzyl@thedifferentiator.co.za Rates: R10,000 per issue Different is now listed on a VAS platform with a subscriber base in excess of 1 million people.

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what does different mean?

From the ediitor Differentiation is not a tactic. It’s not a flashy advertising campaign; it’s not a sparkling new feature set. It’s not a laminated frequent buyer card or money-back guarantee. Differentiation is a way of thinking. It’s a mindset. It’s a commitment.” – Youngme Moon.

Don’t compete, separate For difference to be meaningful, it’s got to deviate and it’s got to resonate. In other words, you have to make it matter. This means you have to be thoughtful and think crit

ically about it, not justmindlessly copy or emulate whatever works for someone else.

To switch your mindset, don’t think of differentiation as competition, but as separation. In other words, don’t commit to competing, but to separating yourself.

What it Really means to be Different The point: For me, being different in a way that matters comes down to a very simple observation about human behavior: If you are not innovative in your life outside of work, why should you expect to be in the domain of business?

Johan van Zyl

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Microlending in South Africa If you are thinking about using a microlender as a debt solution in South Africa, here are some things you should know first: What exactly is microlending?

Microlending is the practice of lending out money and allowing the borrower to pay the sum back over a given period of time, paying interest while the sum is outstanding.

Microlenders generate the revenue necessary to loan out sums by having people invest, and paying those investors interest.

What is the MFRC? MFRC stands for Micro Finance Regulatory Council, and is the body which governs microlending. Established in 1999, the MFRC’s rules allow microlenders to charge higher interest rates than traditional banks.

How does one apply to be a microlender?

made to the NCR, or National Credit Regulator. All the appropriate documentation Applications to be a micro lender must be is available on the NCR website. A fee of R2000 is payable for registraIt is essentially the same ser- tion, and a subsequent fee of vice offered by banks. How- R250 exists for each branch ever, the Usury Act governs of the intended business. the interest rate available to banks, while micro lendWhat are the regulations of ers are not governed by the microlending? same regulations. Microlenders operate in exemption The Usury Act Exemption of the Usury Act, but this is stipulates that thefollowing not to say that there are no regulations should apply to stipulations pertaining to mi- microlending R10000 is the crolending. Those who offer maximum amount able to be the service must comply with loaned and oans should be the rules of the MFRC. paid back within 36 months Loans cannot be repaid using other forms of credit Different

Rent to own

Quick access to funding Lulalend provides fast and flexible business funding to SMEs and sole traders that traditional lenders often can’t serve. We can help thanks to our innovative online business model and credit scoring algorithm.

Using the latest technology, they make decisions based on real business performance They are South Africa’s only online provider of business funding, with expertise in the highest level of security.

We can help entrepreneurs to TheDifferentiator is an affiliate secure funding and grow their of Lulalend. businesses.

To apply for funding follow this Businesses can apply in min- link: utes and receive funding in hours. No paperwork, no hid- h t t p s : / / w w w . l u l a l e n d . den fees and no branch visits. co.za/?a=GmQQi3wm

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Problematic debtors? rangements BUSINESS TO BUSINESS DEBT have been made, we then immediately COLLECTION proceed with an Application for Liquidation.

As Business people we have found that It is important to understand that if your civil action as part of debt collection is money cannot be recovered through at best a very unsatisfactory process this process, civil action will not be sucdue to the following: cessful either,and it did not cost you a • The process is very expensive, cent in the process. especially if we have to go to the High Court.

We will proceed with the actual Liqui• The process takes very long. If dation of the Business, should there be actual proceeding s are instituted it assets in the Business that can be recan often take years before a claim is alised to the benefit of you, our client. settled.

So the bottom line of the process is that • The client has to go out on Risk. you as our client will either have your Civil action costs have to be paid up money after 21 to 28 days or we profront, and there are no guarantees of ceed with further action in Liquidating success. the Business should there be enough As Specialists in the areas of Seques- proven benefit. tration and Liquidation we have now launched the following service in order We have proven beyond doubt that we to curb costs associated with Business can and will save our clients Millions of Debt Recovery, as well as the exces- rands in Legal cost, and substantially sive time delays. What does the prod- improve Cash Flow. uct entail?

1. No upfront cost involved for the Contact Jacques at 083 450 2251 ot client, we do not recover your money Theo 084 4333 957 you do not pay us anything 2. The debt must be Business debt 3. There must be no dispute on the claim.

4. Once the claim is proven we will demand payment within 21 days from the Debtor 5. Should no payment be received in the 21 days and no payment arDifferent 19

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