This is the money used to sign up, start the business, pay for office space and supplies. Cash is also used to pay other miscellaneous. It also helps protect the company`s assets, as they protect one. If you share an account, you may use the company`s funds and end up not having enough for the business. “corporate name” means the name or manner in which a company is carried on as a partnership or otherwise; 20. Notification and information on the assignment of the creditor`s debts 11. Lender`s obligation to provide information on the status of the loan and copies of related documents Only after the lender`s licence is issued can you carry on the activities of a lender. After obtaining the license, it is necessary to make it visible to the public at the reception of your company. 6. Names to be indicated on documents issued by lenders 4. Certificate required for the issuance of the lender`s licence (b) carries on business as a lender without obtaining an appropriate licence from the lender authorizing the lender to do so or, since the lender holds a licence as a loan shark, carries on business as a loan shark under a name other than the lender`s authorized name or at a place other than the lender`s authorized address or address; or 18. Limitation period in proceedings against lenders lent by lenders (c) in the course of its activity as a usurer, in the course of its activity as a lender of funds, enters into an agreement for the advance or repayment of funds or provides security for sums not provided in its authorized name; This is the niche that attracts and markets your brand.

It`s important to choose a name that represents your business. If you have chosen a sole proprietorship, once the name of your company is registered, you will have taken the first step. If you intend to register a company, you must apply for your business to be registered with the company name already approved. After registering the company with the company name already clarified, you are done with PACRA. Provided that a money lender`s licence is issued by a lender in its real name and is invalid if issued under another name, each lender`s licence must also include the authorized name and address of the lender. 17. Prohibition of fees for lenders` loan fees This is a two-party business transaction; the creditor who lends money and the debtor who borrows money. First, you will need to choose the legal nature of your business. There are three basic types of businesses: (a) sole proprietorship (b) partnership (c) corporation.

Whichever choice you choose, you will need to come up with three (03) names for name sharing with PACRA. PACRA chooses one of the three names that does not conflict with any other trade name registered in Zambia. This is the last step. Once you`ve worked on the 11 steps above, the store is ready to go. Make sure your business complies with all established regulations and also protects the privacy of all customers. Provided that for each address for which a partner of a lender company has duly acquired a money lender`s licence, a free money lender`s licence for that address shall be granted to any other partner of that partnership, subject to the provisions of Article 4. “approved name” or “approved address” means the name under which a lender is entitled to act as a usurer by means of a certificate issued in accordance with this Act; Rules are important because they are guidelines that help conduct business transactions. They show how to deal with various problems in business.

A certificate of loan of money is issued by the lower court of the magistrates` complex by a judge. It begins with an application for the issuance of a lender`s certificate. The application must be accompanied by an affidavit that (a) includes a statement of the company`s bank account, i.e. some judges require a minimum balance of K5000-K10,000 (b) a promotional certificate stating that you have advertised your application for a money lender certificate in public media (c) Police certificate with fingerprints and authorization from the directors of the corporation (d) Certificate of incorporation of a corporation. Note that the documents must be attached to the affidavit as evidence. (a) excludes the licence of a lender under a name other than the lender`s real name; or (c) any person engaged in good faith in banking or insurance or a business the principal purpose of which is not to lend money, for his purposes and for the purpose for which he lends money; or He must follow the rules and establish laws on loans, as well as bank rates on interest and fines.