Two years ago I applied for a R100 000.00 bond and it was granted. In this two years I expanded my buisiness and developed my property (farm) and added an axtra R 1.5 m to the value of the farm. After all the developement were completed I repeatedly requested First National Bank of S.A )+(Thabazimbi branch )to reavalueate the farm. I was informed by my bank manager (Mr. Kobus Jacobs) that there were no need to do so, for there were stil enough credit left to extend my bond.
Two months ago I drilled another two wells on my farm and found plenty (85 000 l/h) of water that I could expand the farming activities. The current value of the farm on the Limpopo river is R 4 m.
My current loan is R100 000.00 and I applied for a total bond of R300 000 and were rejected. All financial statemants, balance sheets, cash flow statements were sent via my accountant to the bank.
I then asked for a mere R30 000 to complete a project that is due Desember, and is still waiting for a reply. After a week I started to phone the bank for a progress report and were told that the bank manager were out or on leaf or out to lunch or out somewhere but in his office. There is just no feed back from them.
I am still waiting...
PS. Ain't it strange that a few months ago I purchased a vehical of R200 000 and gor finance within the hour. Whilst there is 6000 vehicals being repo'ed per day in South Africa.
Would a person be so ireponsible to lend R300 000 on a property that is paid in full and worth millions and lose a investement of a life time.
My e-mail address is firstname.lastname@example.org
Cel: [protected] not always available
First National Bank of South Africa:
Tel: [protected] (Tahbazimi branch)
Bank manager: Mr. Kobus Jacobs.