Some customers using NCBA Bank’s LOOP platform are questioning how the lender determines eligibility for business loans after spending months transacting through the service without receiving credit facilities.
The customers include business owners who say they use LOOP for payments and other commercial transactions. Some operate registered companies in which they are the sole directors.
They say they have continued using the platform and paying applicable transaction charges but have not accessed business loans or received clear explanations about the conditions required to qualify.
NCBA markets LOOP for Business as a platform offering payment services, business management tools and financing products, including overdrafts and term loans.
The bank’s terms state that access to credit is subject to assessment and that NCBA has discretion over whether to approve an application. Maintaining an active LOOP account or processing transactions through the platform does not guarantee access to a loan.
Some customers say they want the bank to clarify whether eligibility is affected by transaction volumes, account age, turnover, credit history or company ownership structures.
They are also asking whether companies with one director are assessed differently from those with multiple directors.
One customer who contacted this publication said some company owners had continued using LOOP for months believing that sustained transaction activity could improve their chances of obtaining credit.
The customer said the issue was particularly concerning for sole directors who operate registered companies, generate transactions through LOOP and pay transaction charges but have not received financing offers.
NCBA’s broader business banking information identifies factors such as account conduct, repayment ability and business cash flows as relevant to lending decisions.
Public reviews of LOOP have also included complaints about transaction failures, technical disruptions, customer support and charges. Some users have said they used the platform for extended periods without receiving loan offers.
The customers raising the issue want NCBA to explain whether transaction activity contributes to credit scoring and, if so, what level of activity may make a customer eligible for consideration.
They also want information on whether the age of a business, company directorship, average monthly turnover, credit history or other factors affect access to LOOP financing.
Customers say they are not asking for automatic loan approval. They want clearer information about the eligibility requirements and the factors that determine credit decisions.
They are also asking whether sole-director companies qualify for the same facilities as other companies, what minimum account history is required, whether turnover affects credit limits and how transaction behaviour influences lending decisions.
