Description
Last born of CST group of companies, CST for loans was established mid 2010, (list of specialized entities in the central bank N. 5) completing the range of services offered by the CST group of companies.
CST for Loans is a commercial vehicle aimed to lend small amounts of money (micro loans) to small entrepreneurs and consumers.
How does CST For Loans operate?
CST For Loans targets loan applicants such as junior employees, pre-bankable workers, self-employed, government employees, army personnel and small business owners.
Loans range from USD 1,000 to USD 10,000 and are aimed to finance small business expansion or improvement, home renovation, used car acquisition, vacation packages, home appliances and furniture etc. Loans are made directly to the individual, or the company, or through merchants and co-branded credit cards.
Large data base with credit history from CST Lebanon
- Long term reliable relationship with investigation companies
- Approval or rejection of loans within acceptable timeframe
- Door to door collection and telephone follow-up
- Several lawyers engaged for recoveries
Credit Insurance for all loans
- Life Insurance for borrowers
- Promissory Notes signed by borrowers
- Vehicle Mortgage + Total Loss Insurance for car loans
- Additional guarantees on case-by-case basis: salary domiciliation, real estate ownership deed, vehicle license
CST Lebanon track record
- Investigation
- Scoring
- Selection
- Management of ongoing debts; Daily follow-up on delays, screening.…
- Payment defaults are covered by Credit Insurance
- Penalty charges on Payment delays
- CST Group reputation with banks, insurers and reinsurers