FAQ

Yes. In addition, if you are in the process of being converted, you may be eligible.

No. Applications are welcome throughout South Africa. Applicants living in Johannesburg or Cape Town will be required to attend an interview. Apart from those areas, applications can be done telephonically.

Yes. The Rambam Trust is generally the lender of last resort and assists borrowers who may not be credit worthy and cannot receive credit from other sources. Every loan is assessed together with information about the need. Even though the Trust’s requirements are much less stringent than a bank’s, the applicant must show that he/she is in employment and is in a position to repay the loan.

Yes, if married out of community of property (by ANC) and she is personally able to service her loan.

A surety is a 3rd party individual who takes on the responsibility to repay the loan in the event that we cannot recover the funds from the original borrower.

A surety must be over the age of 18 and must have a steady source of income and a strong established credit record.

Yes. A surety is a requirement for any loan approved by the trust. This is a halachic requirement in order to ensure funds are recovered.

No. Sureties are not required to appear at the interview. However, we may contact the surety in order to inform the surety of his obligations.

A surety is required in order for us to keep our 99% repayment rate. It is a halachic requirement which ensures that we always have funds to assist borrowers in the future. Collecting of outstanding loans enables us to assist other people in need.

Multiple sureties may be required depending on the amount of the loan

The surety is required to be in employment or to be a holder of sufficient income to service the loan.

A surety must be made aware that the Rambam Trust will attempt all reasonable means to recover the monies from the borrower. The surety will only be contacted after all attempts to recover the money from the borrower have been exhausted. We will assist the surety in arrangements for repayment.

Your surety will be contacted once we have exhausted all means in attempting to recover the funds from the borrower.

We have strived to make the loan application process as simple as possible. There must be a genuine and verifiable need for the loan. One must then secure one, two or sometimes up to five people (depending on the size of the loan) to sign surety for the loan. Submit the loan application form together with the surety documents. Remember, loans are not pre-approved or guaranteed.

Click here to go to the loan application page or telephone the office on 011 485 5401.

The entire process usually takes between 10-14 days.

Yes, the loan is provided interest free. No additional costs or administrative costs are charged.

Every loan is evaluated based on its merit and the available funds within the trust. The maximum loan per applicant is about R75 000.

Generally, the trust expects all loaned amounts to be repaid in full within 24 months. Additional repayment time may be approved in exceptional circumstances.

Loans are usually paid by debit order on the 1st working day of the month. Repayments usually begin a month after the loan.

Our door is always open and we request that you communicate with us in those circumstances.

Yes, in depending on your need.

Yes, however, you will be required to furnish a new loan application form with surety(ies) and an interview will be carried out.

The following list is not exclusive:

•  Credit card and other debts
•  Car repairs and purchases
•  House related (necessary renovations) and living expenses
•  Simchas
•  School fees and university tuition
•  Medical care
•  Care for elderly relatives
•  Special needs and disability assistance

We do not give loans for start-up seed capital or for angel investing.

The interview is our opportunity to meet with the borrower and discuss the loan. Often, it is easier to express your needs and explain your situation in person, than on paper. We have also found that applicants have no one to turn to during this stressful time and it is often helpful for them to have a caring 3rd party listen to their situation and offer advice and support.

You will wait in a private waiting room and will then be interviewed by two trustees together with the Executive Director. Interviews are carried out with dignity, empathy and confidentiality.

You must bring your completed original application form, deeds of surety and any supporting documentation which may be requested or which you deem important.

It is preferable if you submit all the original documentationn to the office prior to the interview.

Interviews are usually completed within 15 minutes.

Members of the Rambam Trust will treat your loan application with the utmost empathy, confidentiality and discretion.

Applicant appointments are scheduled approximately 15 minutes apart and we have two private waiting rooms where you can sit, read a magazine and hopefully, feel comfortable, whilst waiting for your appointment.

Yes, you are welcome to visit our office to collect the necessary documentation.

Yes, you will receive a section 18A tax deductible receipt.

Examples:

•  Credit card and other debts
•  Car repairs and purchases
•  House related (necessary renovations) and living expenses
•  Simchas
•  School fees and university tuition
•  Medical care
•  Care for elderly relatives
•  Special needs and disability assistance

The above list is not exhaustive and the Rambam Trust is open to assisting borrowers with any legitimate financial need, provided that they have the ability to repay the loan.