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Loans Repayment
Repayment of your loan through SAPI is easy and convenient. We automatically apply a portion of your business’s daily sales for the purpose of loan repayment. You may also repay your loan early through the Loans tab of your online SAPI Dashboard.
When does loan repayment begin?
Once your loan agreement is signed, the loan repayment will commence on the Repayment Start Date specified in the agreement. Our repayment process is designed to be simple and convenient, with a fixed percentage of your business's daily ...
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I would like to change my direct debit details
If you need to update your direct debit details, we're happy to assist you. You can get in touch with our Operations team by sending us an email at help@sapi.com.
Are there any charges applied on default?
In the event of a loan default, the Total Amount Payable becomes due immediately upon demand, which includes the outstanding principal and loan fee. Please note that SAPI loans are non-interest bearing, which means that you do not have t...
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I’ve received a pre-default notice, what should I do now?
If you can, you should make a full contractual payment as soon as possible If you are not able to make a payment or are concerned about payments, please contact us.
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How do I recognise a notice of default?
When we legally default the loan, we are required to send a Default Notice to your business’s registered address.
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What is a pre-default notice?
A pre-default notice is an important warning that your loan is currently at least 61 days in arrears and may default if another payment is missed. Our goal is to provide you with ample opportunity to get back on track and successfully ma...
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What happens if my loan defaults?
In the event of a loan default, we will make every effort to reach out to you initially through the SAPI Dashboard, followed by phone and letter correspondence. Our goal is to work with you to recover the full loan balance and return thi...
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What is a default?
A loan default can occur when a borrower misses payments or breaches the loan contract in some other way, causing the lender to formally terminate the loan. This can happen with various accounts, including those with banks, mobile phone ...
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Is the loan fee VAT inclusive or exclusive?
The loan fee added to your loan amount is exclusive of VAT. Our team is committed to providing transparent and easy-to-understand loan terms, and we would be happy to answer any further questions you may have regarding loan fees or any o...
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Why was the amount debited from my linked bank account different than my prepayment?
SAPI uses direct debit to collect the minimum monthly repayment amount. If you have pending loan repayment funds from your daily sales, we will apply those funds first towards your prepayment. If there is any remaining amount after apply...
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How can I repay my loan if my bank account is unlinked from my SAPI Dashboard?
To ensure that your loan payments are processed smoothly and on time, we kindly request that you re-link your bank account as soon as possible. If you are unable to re-link your bank account in a timely manner, please contact our payment...
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Can I add additional accounts to repay my loan?
We are pleased to offer a flexible and convenient repayment process that allows you to link your loan repayment to one or more of your accounts. If you would like to take advantage of this option, please contact SAPI Support for further ...
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Am I able to make additional repayments beyond the linked daily sales repayments?
You are able to make additional payments conveniently via the SAPI Dashboard using your linked bank account. Upon making a payment, the amount will be deducted from your outstanding loan balance. We would like to emphasise that making a...
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Can I pay off my loan early?
We understand that our customers may have varying financial circumstances, and we are pleased to offer the option to pay back your loan early at no additional cost. Whether you choose to fully pay back the loan or make an early partial r...
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How do I repay my loan?
At SAPI, we strive to make loan repayment as effortless as possible for our valued customers. That's why we automatically deduct a fixed percentage of your daily sales (including taxes and any tips) to repay your loan. With this feature,...
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