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Shaie Zindel
Shaie Zindel, Attorney
Category: South Africa Law
Satisfied Customers: 1248
Experience:  All areas of commercial and contract Law - specialist in property advice.
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I was convicted in 2011 of fraud which had to do with

Customer Question

I was convicted in 2011 of fraud which had to do with counterfeit Microsoft software. I was fined 100 000 and was given a 5 year suspended sentence. My five years suspended sentence is done. I had applied for a business loan through standard bank and it was declined due to what they had read on Google about me. I have been banking with standard bank for over a year and my business really needs the additional funding but standard bank won't help me cause I was convicted. I feel that although my matter is over I have not been accepted back into society and I feel this is really discriminating me. What is your thoughts on the above
Submitted: 8 months ago.
Category: South Africa Law
Customer: replied 8 months ago.
I had done quite a huge turnover with standard bank for 2016 and I have been a good client. I have been trying for the last few months for finance and I get told that it's about what the bank read on Google, so unfortunately they can't help me. I have even complained to the chamber of Commerce and still doesn't make a difference. Seems like the bank is treating me like an outsider and not as a citizen of the country. For the rest of my life the bank is gonna use what they read on Google against me. I don't think this is fair.
Expert:  Shaie Zindel replied 8 months ago.
Dear Customer - I've read your question and to be honest I really sympathize. Unfortunately there isn't really a legal solution to your dilemma. Please remember that your agreement with your bank is based in Contract and so the bank is free to choose who it transacts with and on what basis. In other words there is no law that can force them to grant you the requested loans. You could try asking the ombudsman to intervene but even they can't force the bank to offer the loan. You need to go and see the bank managers involved and convince them that you have rehabilitated and prove that you don't offer a greater risk than any other client. The alternative would be to seek funding outside the traditional banking environment like the private equity industry but this is often more expensive and you might have to give up some ownership of equity. I'm sorry - I know this probably isn't the answer you were hoping for. Please let me know if you have any follow up questions and let me know if I can assist further. Regards Shaie