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At the time of the 2011 census, Adelaide had a population of 1. 23 million.
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From there customers can use any POS around the country or draw money at the ATM, Mukheibir explains. Even though were conservative with developing and implementing lending products, were always developing lending products to roll out across the network. In fact, Cash Converters is soon to launch its 1 2 3 Loan, which is unsecured micro-lending of up to R2 000 and repayable over three months. Explaining high growth. When we opened the first store in 1994, we took two years to learn the complexities of the business before we felt ready to franchise.
Our second franchisee personal loans with no collateral a pharmacist in Cape Town and the third franchisee was actually my sister and her husband.
They borrowed R600 000 to fund the franchise, and it was paid off in two years. Their bank manager was so impressed he bought the fourth store.