SIES WESBANK!

I have never thought I would become a victim of ****ty business deals from the once trusted FSP like Wesbank. I have been a client of FNB for as long as I remember, more than 20 years. I have bought my vehicles with Wesbank without fail. Now I'm about to retire and start my own business, and to do this, I need a new 4 ton truck. I have registered a business that never traded and wanted to start with a truck.

I personally have a decent credit score, which Wesbank was will to consider for me to purchase a private vehicle for more than R600 000.00. I thought OK, let me now ask for finance for a commercial vehicle, because, apparently I cannot buy a Commercial vehicle (a 4 ton truck) in my personal capacity, I don't know why!!

And then the very same bank that is willing to finance me for a R600 000.00 private would not finance me for a commercial vehicle of R500 000.00.

In my mind, I am still the same person but the bank look at me different than when I am a company director or a private individual.

I say this is so wrong, I cant help but think that the bank is only interested in my money when I do not make profit out of the money they borrow out to me, even at higher interest rate.

I do not have any other thoughts but to think, is it because I a black that I being treated like a ********?

If not, when is the risk that I pose change when they look at me as an individual or a company director where I am a sole owner?

It is true that Bank would rather give out an unsecured loan to a person to deepen their debt as opposed to allowing entrepreneur to start their own businesses

Sies Wesbank!