Are you starting a Micro Lending business but you are not sure of the registration process? The commencement of the National Credit Amendment Act published on 26 February 2015 specifies that there is no longer a threshold for NCR registration. That means that any person or business who offers credit needs to register with the NCR. There is a registration procedure which we have summarised below.
In terms of Section 40 and 41 of the National Credit Act, 34 of 2005, here are the documents and information required to apply to be registered as a credit provider.